Basecamp Research raises 140 million dollar Series C at 800 million dollar valuation

Basecamp Research, a London based company that uses artificial intelligence to design new medicines, said on September 23, 2026, that it raised $140 million in a Series C funding round. The financing valued the AI based drug developer at $800 million, according to Reuters. The round was oversubscribed and led by S32, the California venture firm founded by Bill Maris, who also founded GV, the venture arm of Alphabet, Google's parent company. Nvidia and Anthropic's Anthology Fund participated, alongside a broad group of new and returning investors.

The company was founded in 2019 by Glen Gowers and Oliver Vince, who met as undergraduates at Oxford. Their roots trace back to PhD studies in synthetic biology and bioengineering, and to a 2019 expedition to Iceland's Vatnajokull ice cap. There, they set up the first off grid DNA sequencing operation. That origin story reflects Basecamp's focus on collecting biological data from extreme environments, which now feeds its artificial intelligence models.

At the center of Basecamp's platform is the Trillion Gene Atlas, which the company describes as the world's largest proprietary biological AI training dataset. It is built with partners including Nvidia, Anthropic, PacBio and Ultima Genomics. The dataset draws on biological data collected through access and benefit sharing partnerships in more than 30 countries across all seven continents. Trained on this data, Basecamp's EDEN models recognize patterns across a huge breadth of biological information and can generate potential drug candidates based on information about a disease.

The company said it will use the new funding to train a new generation of its EDEN biological foundation models and to move a pipeline of AI designed therapies toward clinical development. Basecamp will initially focus on therapies that reprogram a patient's cells inside the body, a field known as in vivo cell therapy. The company argues that current cell therapies are limited both in the complexity of what they can deliver and by a manufacturing process that costs hundreds of thousands of dollars per patient.

Key Facts

Basecamp Research said on September 23, 2026, that it raised a $140 million Series C. The round valued the company at $800 million. Reuters reported on September 23, 2026, that the financing was oversubscribed and led by S32. Nvidia, Anthropic's Anthology Fund, Catalio Capital Management, the NATO Innovation Fund, the Rockefeller Foundation and Singular were among the other investors, Reuters reported.

Tech.eu reported on September 23, 2026, that the $140 million round is large for a Series C. Tech.eu also reported that Nvidia's venture arm, NVentures, is a returning investor, while Anthropic's Anthology Fund, a partnership between Anthropic and US venture capital firm Menlo Ventures, is a new investor. Other new investors include Catalio, the NATO Innovation Fund, Rockefeller, European Tech Collective and the UK government's Sovereign AI Fund. Returning investors include Firebrand, River Capital, King Philanthropies and Redalpine, according to Tech.eu.

PR Newswire reported on September 23, 2026, that the company release listed additional participants: European Tech Collective, Firebrand River Capital, Inception Fund, King Philanthropies, NATO Innovation Fund, NVIDIA, PostScriptum, Redalpine, The Rockefeller Foundation, Singular, Sovereign AI and True Ventures. The release also noted additional investment from senior leaders across pharma, biotech and global industry, including Andre Hoffmann, Vice Chairman of Roche.

Tech.eu reported on September 23, 2026, that the startup has raised $225m in total. Basecamp previously raised $60 million in its Series B round in October 2024, led by Singular. Basecamp said it had demonstrated strong preclinical results across multiple modalities and disease areas, but it did not provide a timeline for starting clinical trials. The company also appointed Richard Pearce, formerly of Biogen, as Chief Business Officer to expand its pharmaceutical partnerships. Andy Conrad, General Partner at S32 and former CEO of Google's Verily, joined the Board of Directors.

Analysis

The Series C stands out for its size and its investor mix. A $140 million round at an $800 million valuation for a company that has not yet started clinical trials is a strong signal of confidence in Basecamp's platform. The bigger picture here is that artificial intelligence is becoming a core part of drug discovery, and investors are willing to place large bets on companies that combine proprietary data with advanced models. Basecamp's Trillion Gene Atlas, built through partnerships in more than 30 countries, gives it a data advantage that is difficult to replicate quickly.

The participation of Nvidia and Anthropic's Anthology Fund is also notable. Nvidia's NVentures is a returning investor, which suggests continued strategic interest in the company's computational needs. Anthropic's Anthology Fund is new, and it brings a connection to one of the leading AI model developers. S32, led by Bill Maris, has now led the round, adding a prominent venture capital name to the cap table. The presence of the NATO Innovation Fund and the Rockefeller Foundation adds a mix of strategic and philanthropic investors.

What this really means is that the line between AI companies and biotech companies is blurring. Basecamp is not just applying existing AI models to biology; it is training frontier models on a proprietary dataset. That approach requires significant capital for compute and data collection. The new funding gives Basecamp the resources to train a new generation of EDEN models and to advance its pipeline. However, Reuters reported on September 23, 2026, that Basecamp did not provide a timeline for starting clinical trials, which is a reminder that the path from preclinical results to approved therapies is long and uncertain.

The company's initial focus on in vivo cell therapy is ambitious. Current cell therapies, such as CAR T cell treatments, involve extracting a patient's cells, modifying them outside the body and reinfusing them. This process is complex and expensive, costing hundreds of thousands of dollars per patient. Basecamp aims to reprogram cells inside the body, which could make therapies more customizable and easier to administer. If successful, this could transform treatment for cancer and autoimmune diseases. But the technical challenges are substantial, and Basecamp has not yet shown clinical data.

Why It Matters

For patients, the promise of AI designed therapies that reprogram the body to repair itself could open new options for diseases that currently have few alternatives. Basecamp's CEO, Glen Gowers, said the company believes the future of medicine lies in reprogramming the body to repair itself. The funding brings this technology closer to those who need it most, he said. If Basecamp's approach works, it could reduce the cost and complexity of cell therapies, making them accessible to more people.

For the AI and biotech industries, the round shows that investors are still willing to fund ambitious platform companies. The involvement of Nvidia and Anthropic's Anthology Fund highlights how AI infrastructure and model developers are looking at healthcare as a key application area. The NATO Innovation Fund and the Rockefeller Foundation bring different kinds of capital, suggesting that the company's mission resonates beyond traditional venture capital.

For the UK and Europe, Basecamp's success is a boost for the local life sciences ecosystem. London based companies often face challenges scaling in biotech, but Basecamp has attracted US and global investors. The company's partnerships in more than 30 countries also show how biodiversity data can be a global asset. The appointment of Richard Pearce, formerly of Biogen, signals a push to build pharmaceutical partnerships, which will be crucial for commercializing any future therapies.

Next Up

The immediate focus for Basecamp will be training the next generation of EDEN models and advancing its pipeline of AI designed therapeutics toward clinical development. The company has not provided a timeline for starting clinical trials, so the next major milestone will be an announcement about preclinical to clinical transition. Investors will also watch how Basecamp uses the new capital to expand its data partnerships and computational infrastructure.

Additionally, the company will look to expand its pharmaceutical partnerships with the help of Richard Pearce. Andy Conrad's addition to the board brings experience from Verily and S32. As Basecamp moves forward, the key questions are whether its in vivo cell therapy approach can deliver safe and effective treatments, and whether its proprietary data advantage can translate into a sustainable pipeline of medicines. The answers will determine whether this $140 million bet pays off.