# Akonni Biosystems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/akonni-biosystems

- Industry: Biotechnology
- Headquarters: Frederick, US
- Website: www.akonni.com
- Total disclosed funding: $27M
- Latest round: Series C (Aug 17, 2012)
- Investors on record: 2

## About

Akonni Biosystems, Inc. specializes in advanced DNA and RNA extraction solutions, providing innovative technologies that enhance laboratory efficiency and reliability for genomic research and clinical diagnostics.Founded in 2003, Akonni Biosystems, Inc. is based in Frederick, US, and focuses on developing high-performance extraction technologies. The company has raised a total of USD 4.00 mn through various funding rounds, including the most recent VENTURE DEBT round which secured USD 1.78 mn on June 4, 2019. Akonni has completed 23 deals to date, reflecting a commitment to advancing biotechnology solutions.Akonni's primary offering is the TruTip Extraction Technology, designed for high-yield and cost-effective extraction of DNA and RNA from diverse samples. This system provides higher purity levels than traditional methods and increased sensitivity, crucial for genomic research and clinical diagnostics, targeting academic institutions, research labs, and healthcare providers across North America, Europe, and parts of Asia.Akonni's revenue generation model revolves around B2B transactions, focusing on direct sales and partnerships with academic and commercial laboratories. The company engages in structured sales agreements that may include bulk purchasing options or subscription-based models for its TruTip extraction products, tailored to the needs of institutional clients, potentially offering volume discounts.Akonni Biosystems plans to utilize its recent VENTURE DEBT funding to accelerate the development of new products, although specific upcoming launches have yet to be detailed. The company is also looking to expand its market reach, particularly into new regions of Europe and Asia by 2025, enhancing its distribution networks to meet increasing demand for reliable nucleic acid extraction solutions.

## Funding rounds

- Series C, Aug 17, 2012, $25M — Maryland Venture Fund
- Series A, Jan 12, 2007, $2.2M — Argonne Capital Group

## Investors

- Argonne Capital Group (https://capitalatlas.ai/funds/argonne-capital-group) — Series A
- Maryland Venture Fund (https://capitalatlas.ai/funds/maryland-venture-fund) — Series C