Total amount raised
$264.5 Millions
Latest funding date
9/1/2021
Location
Mammoth Biosciences has successfully raised significant funding through multiple rounds, with its latest being a Series D.
Keep reading to explore the intricacies of Mammoth Biosciences' fundraising journey and the investors backing this innovative platform.
What Is Mammoth Biosciences?
Mammoth Biosciences, founded in 2017, is based in San Francisco, California. The company was co-founded by Ashley Tehranchi, Janice Chen, Jennifer Doudna, Lucas Harrington, and Trevor Martin.
Specializing in CRISPR technology, Mammoth Biosciences develops innovative applications for disease detection, research, agriculture, and biodefense. Their products include the DETECTR® Platform for diagnostics and CRISPR-based precision editing tools.
With a team of 101-250 employees, Mammoth Biosciences is dedicated to advancing genetic medicine and democratizing disease detection through affordable, point-of-care tests.
How Much Funding Has Mammoth Biosciences Raised?
- Pre-Seed Round
- Amount Raised: $120K
- Date: May 2017
- Lead Investors: NFX
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's initial operations and research.
- Seed Round
- Amount Raised: $1.4M
- Date: November 2017
- Lead Investors: NFX
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their CRISPR technology and expand the team.
- Series A
- Amount Raised: $23M
- Date: July 2018
- Lead Investors: Mayfield Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up research and development efforts.
- Series B
- Amount Raised: $45M
- Date: January 2020
- Lead Investors: Decheng Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the maturation of their CRISPR platform for therapeutic applications.
- Grant
- Amount Raised: -
- Date: July 2020
- Lead Investors: National Institutes of Health
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop CRISPR-based detection of SARS-CoV-2.
- Series C
- Amount Raised: $45M
- Date: November 2020
- Lead Investors: Foresite Capital, NFX, Redmile Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's clinical teams and support its rapid growth.
- Series D
- Amount Raised: $150M
- Date: September 2021
- Lead Investors: Redmile Group
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To double down on the development of therapeutics, particularly focusing on permanent genetic cures.
Total Amount Raised: $314.52M. Current Valuation: Over $1 billion.
Key Investors
- Redmile Group
- Details: Redmile Group is a healthcare-focused investment firm. They specialize in investing in biotech and pharmaceutical companies.
- Investment Focus Areas: Biotechnology, pharmaceuticals, healthcare services.
- Notable Investments: Various biotech and pharmaceutical companies.
- Foresite Capital
- Details: Foresite Capital is a venture capital and private equity firm. They focus on transformative healthcare companies.
- Investment Focus Areas: Healthcare, life sciences, biotechnology.
- Notable Investments: 10x Genomics, Denali Therapeutics.
- NFX
- Details: NFX is a seed and early-stage venture capital firm. They invest in technology and life sciences startups.
- Investment Focus Areas: Technology, life sciences, network effects businesses.
- Notable Investments: Lyft, DoorDash.
- National Institutes of Health (NIH)
- Details: The NIH is a part of the U.S. Department of Health and Human Services. It is the primary federal agency for conducting and supporting medical research.
- Investment Focus Areas: Biomedical research, public health research.
- Notable Investments: Various research grants and funding for health-related projects.
- Decheng Capital
- Details: Decheng Capital is a venture capital firm focused on healthcare. They invest in biotech and medical technology companies.
- Investment Focus Areas: Life sciences, healthcare, medical devices.
- Notable Investments: Grail, Arcus Biosciences.
What's Next for Mammoth Biosciences?
As Mammoth Biosciences continues to innovate, the opportunities ahead are vast. The company is poised to revolutionize gene editing with its proprietary CRISPR systems, particularly the ultra-small Cas14 and Casɸ proteins. These advancements could lead to groundbreaking therapeutic applications for diseases like liver disorders, neurological conditions, and cancer. Additionally, their focus on democratizing disease detection with on-demand diagnostics positions them to make significant strides in public health.
Given their recent $195 million funding round and a valuation exceeding $1 billion, future fundraising seems promising. High-profile investors and strategic partnerships with organizations like NIH and GSK suggest a strong network for continued financial support. However, challenges such as navigating regulatory landscapes and scaling operations remain. The competitive biotech field and the technical hurdles of in vivo gene editing will test their resilience. Nonetheless, Mammoth Biosciences' trajectory indicates a bright future with potential for further investment and strategic acquisitions.
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