Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Cambridge Crops, a US-based anti-food decay coating developer exploiting Tufts University and Massachusetts Institute of Technology (MIT) research, has obtained $4m in a seed round led by MIT accelerator and venture fund The Engine. Refactor Capital, Closed Loop Ventures, Bluestein and Associates, SOSV and Supply Chain Ventures also supplied funding. The transaction includes the conversion of $1.3m of principal and interest from existing promissory notes, according to a regulatory filing. Founded in 2016, Cambridge Crops is working on a protective coating that prolongs the shelf life of perishable foods by stalling oxidisation. The seed cash will go to meeting the regulatory requirements for its products, scaling its manufacturing setup, and putting in place commercial relationships within the food and agriculture sector. Cambridge Crops extends the work of Fiorenzo Omenetto, professor of biomedical engineering at Tufts University, and Benedetto Marelli, an assistant professor at MIT’s civil and environmental engineering department.
Spectroplast, a Switzerland-based 3D printing material developer spun out of ETH Zurich, has closed a €1.4m ($1.6m) round led by AM Ventures, an investment affiliate of industrial 3D printing services provider Eos, EU-Startups reported on Friday. Founded in September 2018, Spectroplast has created a 3D printing process that can be used to manufacture products including medical implants, theoretically facilitating reduced lead-times and production costs. The capital will be used to scale up Spectroplast’s silicone 3D printing service. Spectroplast was co-founded by André Studart, professor for complex materials at ETH, together with alumni Manuel Schaffner and Petar Stefanov.
Platomics, an Austria-based genomic sequencing analysis spinout of Austrian Institute of Technology, has procured a seven-figure euro (€1m = $1.1m) sum from unnamed international investors, according to der Brutkasten. Founded in 2014, Platomics is developing a genetic sequencing platform intended to facilitate personalised medical diagnostics from simple blood samples. The capital will fund the recruitment of six additional employees in bioinformatics and software development by the end of 2019, while also supporting Platomics’ sales and marketing operation, as the spinout aims to expand its sequencing technology. Landsdowne Investment Company reportedly owns 27% equity in Platomics. Tanzanit Foundation and Notamm Beratung und Beteiligungen hold about 19% and 7% respectively, while Platomics founder and CEO Albert Kriegner owns 47%.
Previsico, a UK-based flood forecasting platform operator spun out of Loughborough University, has secured an undisclosed seed sum from unnamed investors, Insurance Business UK reported on Thursday. Previsico’s FloodMap Live technology employs big data analytics to provide granular forecasts of surface water flooding – where rainfall cannot escape through ground pavements and drainage systems. Having already been piloted by UK government agencies, Previsico is currently rolling out the platform for insurance sector clients, and hopes to have added UK-wide mapping to the service by October 2019.
Oxford Brain Diagnostics, a UK-based University of Oxford spinout working on diagnostic technologies for Alzheimer’s disease, made its public debut on Friday with an initial funding round involving the university. RT Capital led the round, which also featured Oxford Technology and Innovations EIS Fund and unnamed business angels. Founded in November 2018, Oxford Brain Diagnostics hopes to commercialise a software-led Alzheimer’s diagnosis called Cortical Disarray Diagnostics (CDM) invented by its two co-founders: Mark Jenkinson, professor of neuroimaging at Oxford’s Nuffield Department of Clinical Neurosciences, and Steven Chance, former associate professor and member of the neuroanatomy and cognition group. The spinout is currently engaging with industry to explore developing new Alzheimer’s treatments using CDM, which works by picking up cerebral cortex attributes in the brain from MRI scans.
