The blood test developer took in $165m through a series B round led by SoftBank Vision Fund 2 that came three years after a Tencent-backed series A.
Internet and telecommunications group SoftBank’s Vision Fund 2 led a $165m series B round for US-based biopsy technology developer Karius yesterday.
Venture capital firms General Catalyst, Khosla Ventures and LightSpeed Venture Partners also participated in the round, along with investment firm HBM Healthcare Investments.
Karius has created a non-invasive blood test intended to trace microbial cell-free DNA (mcfDNA) traces left by infectious microbes. The company then applies genomics and artificial intelligence technology to derive information on the disease affecting the patient.
The platform can track a wide range of pathogens and Karius typically provides results within a day. The test is currently being used in more than 100 hospitals and health systems across the US.
Deep Nishar, senior managing partner at SoftBank Investment Advisers, which manages Vision Fund 2, said: “Infectious diseases are the second leading cause of deaths worldwide.
“Karius’ innovative mcfDNA technology accurately diagnoses infections that cannot be determined by other existing technologies. We are excited to support Karius and their mission to use genomic insights to fight infectious diseases and save lives.”
The company announced a $50m series A round in 2017 that subsequent reports suggested closed at $59m, raising the cash from internet group Tencent, Khosla Ventures, Lightspeed Venture Partners, Data Collective and Innovation Endeavors.
The series A round came in the wake of $5.3m in earlier funding from Innovation Endeavors and Spectrum 28, according to PitchBook.