Genomes.io, a biotech company focused on the safe, private, and auditable monetization of genomic data, has today revealed its partnership with the Bahamas-based digital asset investment firm GEM Digital Limited.
The $20m financial commitment from GEM Digital Limited will allow the Genomes.io team to accelerate its technological growth, allowing more of its individual and institutional clients to work with its vault and reporting products.
Since its conception in 2018, Genomes.io has been developing its infrastructure with partners such as AMD and ConsenSys to ensure the safe storage, querying, and management of genomic data.
In 2022, the company won the Deloitte Tech Fast 50 Challenge Award for being the most innovative and disruptive Web3 technology in the healthcare sector, and earlier this month, it was the first ever company to directly compensate its vault holders for scientific research to advance genomic insights into long COVID in an anonymous manner.
“We are delighted to have this commitment from GEM Digital,” said Aldo de Pape, co-founder and CEO of Genomes.io. “Their backing will help us further realize our vision to democratize the genomics market by making it profoundly more equitable and transparent through the use of our decentralized technology.
“A big thank-you to everyone who made this transaction possible. It will accelerate our growth and focus to remain the biggest user-owned genomic database in the world.”