CIT is Zero’s hero

Virginia’s Center For Innovative Technology (CIT), the nonprofit corporation which receives state funding to drive innovation and entrepreneurship in the US state, has backed TypeZero Technologies, a local diabetes testing service. A regulatory filing dated June 23 for TypeZero said it raised a $415,000 debt and securities round.

CIT’s GAP Funds led TypeZero’s seed round, which also included several other unnamed investors, after it licensed its technologies from the University of Virginia’s Licensing and Ventures Group (LVG).

Pete Jobse, CIT president and CEO, said: “TypeZero is led by a management and scientific team that is commercializing the pioneering inventions created at the University of Virginia’s (U.Va.) Center for Diabetes Technology and bringing them to market as quickly as possible.”