EIC-backed Genomika gets €5M to 'expand the facilities' of the Lithuanian start-up

Genomika, a Lithuanian deep-tech biotech firm, secures €5M funding to revolutionise genetics and expand DNA data storage
EIC-backed Genomika gets €5M to 'expand the facilities' of the Lithuanian start-up

Lithuanian deep-tech biotechnology company Genomika has bagged itself €5 million in funding. The EIC-backed start-up, which is based in Tech-Park Kaunas, says the funding came from ‘the EU, Switzerland and the UK to revolutionise genetics’ stating 'we are poised to revolutionise data storage, drive genomics advancements, and foster unparalleled collaboration among Europe's brightest minds'.

In the business of ‘data storage in DNA molecules’ Genomika says it will use the funding ‘to expand the laboratory's facilities, acquire cutting-edge equipment, attract top talent and open up scientific discovery’. Over the next three years, the hard drive will be formed ‘bringing the technology closer to practical application’.

"Technologies that used to store information change every decade or so, as exemplified by storage technologies that need constant updating: cartridges have been replaced by disks, disks by USB sticks, and external hard drives and so on. These inventions become obsolete and need to be updated in order to preserve and be able to read information. DNA is therefore the repository of the future. This method can store large amounts of data in a compact container,” stated Lukas Žemaitis, co-founder of Genomika.

Image source: techpark.lt

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