Solana Beach-based Luna DNA raised $2 million in a new round of funding, led by Illumina Ventures and Arch Venture Partners, it was announced May 8.
Bridgelink Capital, Hemisphere Ventures, and Aristides Patrinos, who is on the Luna DNA advisory board and played a leading role in the Human Genome Project, also participated in the round.
Led by former Illumina executives, Luna positions itself as something of a missing link. The company looks to entice people to share their DNA data for medical research by compensating them. In contrast, companies like 23andMe make money by selling users’ anonymous genetic information, but don’t pay them. As a result, data is often siloed.
Illumina Ventures, which launched in 2016 with initial investment from Illumina, focuses on early-stage companies in new areas of genomics. Arch Venture Partners’ portfolio includes Illumina, Illumina spinout Grail and Juno Therapeutics.
To date Luna DNA has raised $4 million. The startup picked up $2 million in seed funding in December.