C2i Genomics bets a whole-genome blood test beats biopsy-based monitoring, raises $100M

C2i Genomics builds an AI-driven whole-genome sequencing platform that detects trace amounts of cancer from a small blood sample, aiming to help oncologists optimize treatment and catch relapse earlier than existing monitoring tools.

Bet that whole-genome sequencing from 2ml of blood, read by AI, could detect cancer 100x more sensitively than existing tests, replacing invasive biopsy monitoring.

$100M convertible note (announced April 2021), bringing total venture funding to $113.2M, including a $12M Series A in 2020 and a seed round in August 2019

Asaf Zviran, previously in Israel's defense sector, was diagnosed with cancer at 28. During recovery he spent most of his time talking with oncologists and found they lacked effective tools to monitor how well treatment was working. He returned to school for a Ph.D. in genomics focused on using blood samples to monitor cancer, developing the technology behind C2i for three years before founding the company in late 2019.

C2i raised a seed round in August 2019 (with NFX joining as an early backer) and a $12M Series A in 2020. In March 2021 it acquired QNA Dx to gain a CLIA-certified lab in Massachusetts, adding to its R&D center in Israel. By April 2021 the company had established clinical trials at six institutions worldwide, with additional institutions asking to join, and had grown to nearly 40 employees with plans to double that by year-end. On April 15, 2021, C2i announced a $100M convertible note — chosen over an equity round for flexibility ahead of its next fundraise — to fund R&D, hiring and a push toward launching its diagnostic in the U.S. and Europe.

The founder's own cancer diagnosis at 28 gave him direct insight into a gap oncologists faced: no effective tool to monitor treatment response between biopsies.

A three-year technical head start building the method before founding the company let C2i enter with a defensible claim: 100x sensitivity from a small blood draw.

Landing six clinical trial sites with real institutions, not just lab data, gave investors third-party validation ahead of the $100M raise.

Choosing a convertible note over equity preserved flexibility for the next fundraising round while still drawing a wide bench of life-sciences investors.

A founder's own diagnosis can supply both the insight that existing tools are inadequate and the discipline to prove a new one in real clinical trials before claiming commercial scale.

As of April 15, 2021, C2i Genomics had six active clinical trial sites with additional institutions requesting to join, close to 40 employees with plans to double headcount by year-end, and was using the $100M note to fund R&D, hiring, and a planned launch of its diagnostic in the U.S. and Europe. The Crunchbase News article does not report a later commercial or regulatory outcome.