Element Biosciences announced an upsized Series E financing round that includes a $175 million investment from existing backer Samsung Electronics and additional funding from other investors. The capital will support the commercialization of the company’s expanding ecosystem of genomic and multiomic technologies and accelerate its global expansion.
The funding will be used to drive adoption of Element’s product portfolio, including the AVITI sequencing platform, the recently introduced VITARI high-throughput benchtop system, and the upcoming launches of AVITI Dx and tissue profiling capabilities on AVITI24. The company also plans to continue developing future technologies designed to provide researchers with broader biological insights.
Element’s strategy emphasizes an open and interoperable platform architecture that enables scientific, pharmaceutical, and technology partners to build and scale their own applications on the company’s systems.
Since launching its AVITI platform in 2022, Element has expanded beyond sequencing into genomic, transcriptomic, protein, spatial, and cellular analysis technologies. The company now serves customers in more than 40 countries across academic institutions, pharmaceutical companies, biotechnology firms, and clinical research organizations.
The financing follows Element’s $277 million Series D funding round announced in July 2024. The latest investment remains subject to regulatory approval.
KEY QUOTES:
“Element has made remarkable progress since our prior investment. Alongside their advancement in next-generation sequencing, they have made foundational innovations in multiomics and clinical workflows that will play a crucial role in the further development of groundbreaking research and clinical applications in precision medicine and personalized diagnostics. Samsung believes in the broad adoption of sequencing as a foundational pillar in precision medicine, and we are extremely confident in Element’s progress, vision, and team. Samsung continues to invest at the forefront of medtech, life sciences and precision medicine, with the ultimate goal of enhancing people’s health outcomes.”
TM Roh, President and Head of the Device eXperience Division, Samsung Electronics
“This financing represents a powerful vote of confidence in our vision, our technology, and our team’s ability to execute. At a time when many life science companies continue to face significant market challenges, the support of both new and existing investors validates the progress we have made in building a differentiated portfolio of products and bringing them successfully to customers. This investment enables us to continue delivering transformative technologies that empower scientific discovery and improve human health.”
Molly He, Chief Executive Officer and Co-Founder, Element Biosciences
