KROMATID Successfully Completes $8 Million Series C Funding, Breaking Growth Targets

KROMATID Seals $8 Million Series C Funding Round

KROMATID, a prominent name in the field of next-generation genomic structural analysis, has achieved a significant milestone by successfully closing its Series C funding round. The company raised a total of $8 million during this round, surpassing their initial capital goals. This latest tranche contributed an impressive $3.8 million and was spearheaded by BroadOak Capital Partners, with involvement from both veteran and new strategic investors.

The completion of this funding is poised to propel KROMATID into a new phase of growth, focusing on the enhancement of their proprietary platforms dedicated to the detection of chromosomal structural rearrangements. This will enable KROMATID to better meet the surging global demand for genomic analysis, particularly in the fields of cell and gene therapy. The investment will also facilitate the company's efforts to forge strategic partnerships with leading pharmaceutical and academic institutions.

According to Jim Chomas, the CEO of KROMATID, the successful attainment of their funding goal highlights the trust and confidence that investors hold in the company’s vision and the technological advancements they offer. “This investment empowers us to accelerate our growth trajectory, innovate more effectively, and continue to deliver vital genomic insights that are essential for bringing impactful therapies to patients in need,” Chomas stated.

Bill Snider, a partner at BroadOak Capital Partners, lauded KROMATID’s unique platform, which offers precise, high-resolution genomic integrity analysis—a critical component in the rapidly advancing sphere of gene and cell therapy. He expressed satisfaction in continuing the partnership as KROMATID embarks on this promising journey towards scaling its operations.

In the next 12 to 18 months, KROMATID plans to strategically utilize the newly acquired funding to enhance its commercial expansion and boost the automation and throughput capabilities within its laboratory operations. The company is also set to focus on recruitment across various teams, including scientific, operational, and customer-facing roles, with the aim to meet the increasing market demand and solidify its leadership stature in genomic structural analysis.

About KROMATID

KROMATID is dedicated to delivering next-generation genomic structural analysis solutions that cater to developers in gene and cell therapy. The company specializes in enabling the precise detection of chromosomal structural rearrangements, offering unparalleled clarity and resolution. By integrating proprietary imaging and bioinformatics capabilities, KROMATID supports therapeutic innovations, from discovery phases through to regulatory approvals.

About BroadOak Capital Partners

BroadOak Capital Partners is a specialized financial institution that delivers investment and investment banking services primarily to organizations within the life sciences, diagnostics, and biopharmaceutical sectors. With a robust history of investing in over 70 life sciences entities, including more than 35 successful exits, BroadOak is renowned for its strategic support and partnership solutions.

For further information, media inquiries can be directed to Amanda Ladas, Global Marketing Manager at KROMATID, via email at [email protected] or by calling 773-720-0709.