Nebula Raises $4.3M to Build Blockchain Marketplace for Genomic Data

Nebula Genomics, a blockchain startup focused on DNA data, said on Wednesday it had raised $4.3 million from 10 venture capital firms to fund its plan of “creating a trusted, secure, and decentralized marketplace for genomic data”.

Nebula has also signed a deal with Veritas Genetics, a genome sequencing and interpretation firm, to link the Nebula marketplace to Veritas’ Arvados open-source software platform, a  system for storing, sharing and analyzing genomic data. At the moment, the platform holds over 20 petabytes of data, being used worldwide by researchers and pharmaceutical companies.

Both Nebula and Veritas are co-founded by Harvard Medical School professor George Church.

The seed investment came from Khosla Ventures, Fenbushi Capital, Arch Venture Partners, Mayfield, F-Prime Capital Partners, Great Point Ventures, Hemi Ventures, Windham Venture Partners, Mirae Asset, Hikma Ventures, and Heartbeat Labs.

Nebula CEO and co-founder Kamal Obbad commented:

“Our investors, along with Veritas, share our commitment to lowering access barriers to genomic data, and solving one of the primary roadblocks preventing personalized medicine becoming a reality today. With this funding, we are moving closer to a new age in personalized medicine.”

Robert Nelsen, managing director of Arch Venture Partners, one of Nebula investors, said:

“As genome sequencing inches towards mass adoption, security and privacy concerns remain core barriers. Nebula’s team has architected a unique decentralized system that protects data while still making it easily accessible for researchers.”

Nebula is not the first company to use blockchain for genomic data. South Korean biotech company Macrogen recently revealed a partnership with big data firm Bigster to develop a DLT platform for genomic data.