Henley-in-Arden technology investor Mercia Fund Management has revealed that portfolio company, Oxford Genetics, has now secured £330,000 in funding, including a £100,000 TSB Smart Award.
Oxford Genetics is the biotechnology company behind SnapFast - a system that simplifies the purchase of synthetic DNA molecules (plasmids).
Since its first round of seed enterprise investment scheme funding in 2013 from Mercia Fund Management, Oxford Genetics has celebrated several major achievements, including the expansion of its range from 200 to over 1,600 DNA plasmids.
The company has also launched a dedicated web tool called Plasmid Builder which allows customers to design and build complex DNA sequences online.
Oxford Genetics has signed agreements with both a global distributor and partners in 30 countries including the US, Canada, Japan and Germany.
The company has also conducted custom work for the prestigious Max Plank Institute which saw the Oxford Genetics team recreate every gene that is different between a human and a Neanderthal.
Dr Ryan Cawood, founder and managing director of Oxford Genetics, said: "With this additional funding we will look to increase our product range further, invest adding new functionality to the website, and extend our marketing efforts.
"We are very pleased to have Mercia Fund Management on board. As a technology investor, they provide not only finance but also strategic advice and business support."
Mark Payton, managing director of Mercia Fund Management, added: "A year ago we predicted a promising future for Oxford Genetics and the company has delivered on its early promise. When we first invested the company clearly stood out for us."
This week on the free Birmingham Post app: First World War centenary special, interview with Hollywood star Vin Diesel and how Tolkien novel nearly went unpublished as well as daily breaking news. Download it here.