Ginkgo Bioworks recently announced that they raised $290 million in Series E financing with its valuation now being at an estimated $4.2 Billion.
The $290 million financing brings the total capital raised by Ginkgo Bioworks to a staggering $719 million. T. Rowe Price Associates were the new addition to the team of invesorts in the latest round, the first since December 2017 when Ginkgo raised $275 million in Series D financing to complete its third “foundry” or production facility. The company opened its fourth foundry last year, and is now completing its fifth.
The fundraising comes with the announcment of Ginkgo's partnership with Y Combinator and Petri to provide their platform to young startups. The team plants plans to use the capital toward expanding synthetic biology applications for its cell programming platform and making it accessible to new startups, so that they could leverage Ginkgo to jumpstart their development.
"We've been growing our cell programming platform for over a decade, and our most recent $290M fundraise, announced today, will allow us to expand our technology and continue our drive to bring biology into every physical goods industry: materials, clothing, electronics, food, pharmaceuticals, and more. They are all biotech industries—they just don't know it yet. We're excited to keep growing our platform and to bring on great new investors like T. Rowe Price!" mentioned Jason Kelly, the Ginkgo co-founder, in a newsletter published to the community last week.