Nebula Genomics Blockchain DNA Data Startup Secures Khosla’s $4.3 Million Investment
Genome Data Supporting Startup, Nebula Genomics Secures Khosla’s $4.3 Million Investment
Blockchain startup, Nebula Genomics has recently revealed that it raised $4.3 million from Khosla Ventures during its Series A funding round. The startup’s goal is to leverage blockchain technology to ensure that one’s personal genomic data is neither manipulated nor comprised. Most importantly, middlemen will be eliminated so that sequencing costs and privacy are saved.
Nebula Genomics has three co-founders, which include George Church, Dennis Grishin and Kamal Obbad, and it was Church who announced the recent contribution. The three combined have the necessary medicinal and technological background to support this project at hand. In particular, Church is dubbed as the “Father of synthetic biology” and presently serves as a professor at Harvard Medical School and MIT.
As for the secured partnerships, not only has Khosla Ventures made the list, but also other Venture Capitals (VCs) such as Arch Venture Partners, Fenbushi Capital, Mayfield, F-Prime Capital Partners, Great Point Ventures, Windham Venture Partners, Hemi Ventures, Mirae Asset, Hikma Ventures, Heartbeat Labs and genome sequencing firm, Veritas Genetics.
Nebula Genomics’ partnership with Veritas Genetics is praiseworthy, as the latter was the first to have ever sequenced human genome is as little as $1,000, reports TechCrunch. Interestingly, both firms were co-founded by none other than Church himself, which only shows the years of experience serving as the projects’ backbone.
The Nebula platform will consist of the Nebula token, which will be distributed to those who share their genetic data. Tokens will be built on Veritas’ software dubbed, Arvados, which already houses genetic data.
CEO of Veritas Genetics, Mirza Cifric shared that the partnership reflects their goal of becoming the leader in maximizing privacy in consumer data, “while enabling them [consumers] to participate in research and benefit from the blockchain-based marketplace Nebula is building.”
Grishin trusts that, “Nebula’s decentralized and federated architecture” suffices to address “privacy concerns,” adding that it includes reasonable incentives for data sharing. Ultimately, the efforts taken here will enhance the medical research industry.