Element Biosciences Raises $175M in Series E Funding for Gene Sequencing

With this new investment, Samsung will become the biggest shareholder in the San Diego-based biotech company.

This round follows a $277 million Series D raised in July 2024 and shows the company is rapidly gaining momentum as it prepares to compete with major industry players.

Founded in 2017, Element Biosciences has steadily increased its presence in the market by making high-precision genetic testing more affordable and accessible.

The company’s DNA sequencing technology achieves about 99.99% accuracy while also lowering costs for laboratory researchers.

Element Biosciences is also expanding into multiomics, a more advanced approach to studying biology.

Instead of using separate tools, its platform can analyze DNA, RNA, and proteins together in one system. This helps scientists better understand how genetic information leads to changes in cells over time, which can support research for developing treatments such as cancer therapies.

The new funding will help Element Biosciences expand its global sales and reach for its growing range of instruments.

“This financing represents a powerful vote of confidence in our vision, our technology, and our team’s ability to execute,” said Molly He, CEO and co-founder of Element Biosciences. “This investment enables us to continue delivering transformative technologies that empower scientific discovery and improve human health.”

“Element has made remarkable progress since our prior investment,” said T.M. Roh, president and head of the device eXperience division at Samsung Electronics. “Samsung believes in the broad adoption of sequencing as a foundational pillar in precision medicine, and we are extremely confident in Element’s progress.”

“We hope to push the field as a whole and raise the bar,” said Matthew Kellinger, co-founder and vice president of biochemistry at Element.

The company is currently focusing on its AVITI benchtop sequencing system and the newer AVITI 24, which supports multiomics and cellular time-course studies.

It also plans to commercialize next-generation platforms, including VITARI, a higher-throughput system designed to process data about 5× faster while cutting costs by more than 50%, and AVITI Dx, a clinical diagnostics platform aimed at hospital use, especially for personalized cancer treatment decisions.

So far, Element Biosciences’ technology is being used in more than 40 countries across universities, pharmaceutical companies, and clinical research labs.

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