Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.

Blue J, a Canada-based legal outcome prediction software spinout of University of Toronto, has picked up $9m in a series B round led by Generation Ventures, with participation from Relay Ventures, Mistral Venture Partners and LDV Partners. The company secured $7m in a series A round led by Relay, with participation from BDC Capital, LDV Partners and Mistral in 2018.
AnimalBiome, a US-based animal health company founded by researchers hailing from University of California (UC), Berkeley and UC Davis, has raised $8.6m in a series A round led by food company Cargill. The round also attracted R/GA Ventures on behalf of advertising agency R/GA, SOSV, Moai Capital, Digitalis Ventures and Michelson Found Animal Foundation.
MGA Thermal, an Australia-based modular energy storage blocks developer spun out of University of Newcastle (not to be confused with Newcastle University in the UK), has received A$8m ($5.9m) in funding led by Main Sequence Ventures, with participation from Alberts Impact Capital, New Zealand’s Climate Venture Capital Fund, The Melt, CP Ventures and angel investors, according to TechCrunch. The company has now raised $9m altogether, the report said, and CP Ventures was identified as a returning backer.
Encellin, a US-based personalised regenerative medicine company that emerged out of University of California, San Francisco, has completed a $5.9m seed round co-led by Khosla Ventures and SV Latam Capital. The round also included Sandhill Angels and Y Combinator.
Claros Technologies, a US-based developer of chemistry products to neutralise viruses, mercury and other industrial pollution that was spun out of University of Minnesota, has collected $5.4m in a funding round including Discovery Capital, an investment vehicle for the university. 3×5 Partners co-led the round, which followed a $1.5m angel round earlier this year.
Theoria Science, a Japan-based exosome-targeted cancer treatment developer using research conducted by Tokyo Medical University professor Takahiro Ochiya, has raised ¥500m ($4.6m) in a series A round from pharmaceutical firm Taisho Pharmaceutical and SMBC Venture Capital, a VC subsidiary of financial services firm Sumitomo Mitsui Banking Corporation. It had already raised an undisclosed amount in series A funding in June 2020 from SBI Investment, a vehicle for financial services firm SBI.
KanonCure, a Japan-based developer of decompensated cirrhosis treatment using the research at Tottori University’s Faculty of Medicine, has secured an undisclosed amount of funding for the first close of a funding round with robotics technology provider Cyberdyne’s CEJ Fund committing conditionally up to ¥500m ($4.6m).
Hmcomm, a Japan-based artificial intelligence-infused voice recognition technology developer spun out of the country’s National Institute of Advanced Industrial Science and Technology, has raised ¥420m ($3.8m) in a series C round from J&TC Frontier, a joint venture between engineering services provider JFE Engineering and leasing and financing provider Tokyo Century, as well as beauty and wellness services provider Kyowa and leasing services firm Fuyo General Lease. The round also includes an undisclosed amount of debt supplied by unnamed institutional firms.
Himuka AM Pharma, a Japan-based peptide drug developer, reached a ¥400m ($3.7m) first close for its series B round on Friday featuring financial services firm Mitsubishi UFJ subsidiary Mitsubishi UFJ Capital’s Life Science Fund; QB Capital, which is run by Kyushu University’s Kyushu TLO subsidiary; Miyazaki University Dream Support Fund, a joint venture between financial services group Miyazaki Bank’s Miyagin Venture Capital unit and Miyazaki University; accelerator KSP; Dogan Beta, a VC subsidiary of investment and consulting services firm Dogan; Miyazaki Taiyo Capital, a vehicle for leasing services firm Miyazaki Taiyo Lease, VC firm Japan Asia Investment and financial services firm Miyazaki Taiyo Bank; as well as various private investors.
Smart119, a Japan-based emergency medical support system developer out of Chiba University, has secured ¥300m ($2.8m) from Nissay Capital, Mitsui Sumitomo Insurance Venture Capital and Sony Innovation Fund, respective subsidiaries of insurers Nippon Life and MS&AD Insurance Group and electronics producer Sony, as well as Pksha Sparx Algorithm Fund, a vehicle for software developer Pksha, internet company DeNA-backed Delight Ventures, DNX Ventures and One Capital.
TOP, a US-based organic period product brand, increased its seed round to $2m today, with insurance firm MassMutual’s MM Catalyst Fund among the participants. It was joined by 37 Angels, Charlottesville Angel Network, Dirigo Fund, Maine Angels, Warfield Capital Partners, Spacestation Investments, NU Impact, Valedor Partners and unnamed angel investors. The company said its overall funding has reached $3m, a figure that stood at $1.6m as of a February 2020 close led by Maroon Venture Partners Fund, which is affiliated with University of Massachusetts Amherst.
Digzyme, a Japan-based bioinformatics production process developer spun out of Tokyo Institute of Technology, has received ¥150m ($1.4m) from telecommunications and internet group SoftBank’s Deepcore fund, Anri and Plug and Play Ventures.
Pixuate, an India-based video analytics platform, has obtained $1m in a seed round featuring CIIE-IIM Ahmedabad, the incubator of Indian Institute of Management Ahmedabad. The round was led by SucSEED Indovation Fund and also included Mumbai Angels as well as unnamed others. Pixuate secured an undisclosed amount of capital in May 2021 from CIIE-IIM Ahmedabad, Mumbai Angels and high-net-worth individuals, but it is unclear how that round relates to the seed financing.
LM Plus, an Australia-based developer of liquid metal technology to convert carbon dioxide into saleable carbon flakes and oxygen, has raised $600,000 in a seed round led by commercialisation firm Uniseed, with participation from its co-investment fund, Stoic VC. University of New South Wales has become a shareholder through its licence agreement with LM Plus.
Kortuc, the Japan-based developer of a radiosensitiser for cancer radiotherapy based on research at Kochi University, has raised an undisclosed sum from Axa Japan, a subsidiary of insurance firm Axa. Insurance firm Nippon Life’s Nissay Capital vehicle provided $880,000 for Kortuc in 2017 before it added $430,000 from Shigin Regional Revitalization Fund, a partnership between Shikoku Bank and Shigin Regional Economic Research Institute in 2018, an undisclosed sum from Iyo Bank’s Iyogin Capital vehicle in January 2019 and from conglomerate Sojitz in December the same year.
Rsmile, the Japan-based owner of property management platform Cosoji, has raised an undisclosed amount of funding from Ritsumeikan Social Impact Fund, a vehicle for Ritsumeikan Trust, which operates Ritsumeikan University.
Neurotherapeutics Solutions, a UK-based developer of a stimulation treatment for Tourette’s, has been spun out of University of Nottingham with an undisclosed amount of funding from the university and unnamed external backers. The spinout’s device is worn like a wristwatch and provides rhythmic peripheral nerve stimulation to treat Tourette syndrome and associated co-occurring brain health conditions.
Juno Perinatal Healthcare, a Netherlands-based perinatal life support system developer, has been spun out of Eindhoven University of Technology. The company is part of a consortium that also includes the universities in Eindhoven, Aachen and Milan, as well as LifeTec, Nemo Healthcare, MSB de Medici and Medsim. Juno is looking to develop an artificial womb and expects to deliver a prototype in 2024.
Arctech Innovation, a UK-based spinout of London School of Hygiene and Tropical Medicine, has been formed through the merger of two existing spinouts from the institution: Arthropod Control Product Test Centre (Arctec) and Vecotech. The new company will focus on developing treatments for conditions such as covid-19 and malaria.
– Additional reporting by Liwen-Edison Fu and Robert Lavine

Thierry Heles

Thierry Heles is the former editor-at-large of Global University Venturing and Global Corporate Venturing, and was the producer and host of the Beyond the Breakthrough podcast until December 2024.