Silicon Valley Bank closed a new $75 million credit facility for 10x Genomics.
Concurrently, the company completed a $50 million Series D financing round. Meritech Capital Partners led the Series D round, which added new investor Wells Fargo to current investors Paladin Capital, Fidelity and SoftBank Group.
10x will use the proceeds from the transactions for technology development, investment in strategic opportunities, improvement of manufacturing capabilities and expansion of its global footprint — including opening new offices in the Netherlands and China.
Headquartered in Pleasanton, CA, 10x Genomics makes the Chromium Controller platform, which incorporates linked-read technology for exome and genome sequencing and can also be used for various single-cell analysis applications.
