Swedish sequencing firm single technologies raises $6.1M

Single Technologies said that it has raised €5 million ($6.1 million) through an oversubscribed share offering, which it will use to accelerate development of its 3D sequencing platform.

Single’s sequencing platform uses a rapid confocal scanning system and a proprietary nanofluidic technology but does not require changes to existing sequencing chemistries. The company, which raised about $1.6 million earlier this year, has said its technology could potentially exceed Illumina’s NovaSeq in throughput while lowering sequencing costs.

Single Technologies is aiming for an ultra-high-throughput solution based on our patented 3D sequencing technology, which enables both NGS and spatial sequencing,” Single CEO Johan Stroemqvist said in a statement. “This new funding will enable us to finalize automating our 3D sequencing process, make it more robust, and improve quality for both whole-genome sequencing and transcriptomics applications.”