Dec 14, 2017

Ginkgo Bioworks raises $275 million to design DNA

Gingko Bioworks' lab facility. Photo: Gingko Bioworks

Ginkgo Bioworks is in the business of designing and printing microbes, but it recently raised $275 million — bringing its valuation to over $1 billion — because it sees itself more akin to a software company.

Why it matters: The Boston-based company says that, by providing specialized services for designing, developing, and printing DNA, it can open possibilities for customers in industries outside of health care.

For example, a fragrance company can pay Ginkgo Bioworks for a project that would otherwise be too expensive to do in-house, according to co-founder and CEO Jason Kelly. A pharma company would have to hire scientists to do the development itself.

Deal details: Investors in the round include Viking Global, Y Combinator's Continuity Fund, Cascade Investment (Bill Gates' investment vehicle), and General Atlantic. Though Kelly declined to specify the new valuation, a Delaware filing first spotted by Recode pegs it at $1.3 billion.

Part of the proceeds will be used to open a third lab facility.

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In photos: Americans venture out for Memorial Day weekend

Venice Beach in Los Angeles on May 24. Photo: David McNew/Getty Images

Authorities warned Americans to take precautions against the coronavirus amid reports of packed beaches during the Memorial Day weekend, some three months after the pandemic began spreading across the U.S.

The big picture: Law enforcement stepped up beach patrols, authorities on Florida's Gulf Coast closed parking lots because they were full and there were crowded scenes at Lake of the Ozarks bars in Missouri, per AP, which reports a shooting injured several people at a packed Daytona Beach in Florida.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 5,405,029 — Total deaths: 344,997 — Total recoveries — 2,168,408Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m. ET: 1,642,021 — Total deaths: 97,698 — Total recoveries: 366,736 — Total tested: 14,163,195Map.
  3. World: White House announces travel restrictions on Brazil, coronavirus hotspot in Southern Hemisphere Over 100 coronavirus cases in Germany tied to single day of church services — Boris Johnson backs top aide amid reports that he broke U.K. lockdown while exhibiting symptoms.
  4. Public health: Officials are urging Americans to wear masks headed into Memorial Day weekend Report finds "little evidence" coronavirus under control in most statesHurricanes, wildfires, the flu could strain COVID-19 response
  5. Economy: White House economic adviser Kevin Hassett says it's possible the unemployment rate could still be in double digits by November's election — Public employees brace for layoffs.
  6. Federal government: Trump attacks a Columbia University study that suggests earlier lockdown could have saved 36,000 American lives.
  7. What should I do? Hydroxychloroquine questions answeredTraveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 43 mins ago - Politics & Policy

Republicans sue California over mail-out ballot plan

California Gov. Gavin Newsom during a February news conference in Sacramento, California. Photo: Justin Sullivan/Getty Images

President Trump accused Democrats of trying "Rig" November's general election as Republican groups filed a lawsuit against California Sunday in an attempt to stop Gov. Gavin Newsom (D) from mailing ballots to all registered voters.

Driving the news: Newsom signed an executive order this month in response to the coronavirus pandemic ensuring that all registered voters in the state receive a mail-in ballot.