Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Nano-Core Chip, a China-based internet-of-things chip designer, has closed its first funding round at RMB100m ($15.4m) thanks to a commitment from Peking University Science and Technology Achievement Transformation Fund, a vehicle managed by Founder H Fund on behalf of the university, according to China Money Network. Sequoia Capital China also took part in the round. Founded in April 2021, Nano-Core Chip is working on artificial intelligence of things systems-on-a-chip.
Euler, a UK-based decentralised finance software developer, has closed an $8m series A round led by crypto-focused investment firm Paradigm that included Lemniscap and angel investors Anthony Sassano, Ryan Sean Adams, Kain Warwick and Hasu. Euler’s chief executive Michael Bentley co-founded Euler after concluding postdoctoral research at University of Oxford in September 2020. Crypto trading firm Capital Markets Trading vehicle CMT Digital had joined Launchub Ventures, Divergence Ventures, Block0, Cluster and various individuals to supply $800,000 in seed funding for the company in December 2020.
Girasol Energy, a Japan-based solar energy technology developer using an internet-of-things tool designed at University of Tokyo, has raised more than ¥500m ($4.6m) in series A funding from University of Tokyo’s Innovation Platform, electric utility Kansai Electric Power Group’s K4 Ventures unit, construction firm Tokyu Construction, property developer Mitsui Fudosan’s 31Ventures subsidiary, YCV – a joint vehicle for financial services firm Yamanashi Central Bank and consultancy Yamanashi Central Bank Management Consulting – as well as VC firm Anri. Venture capital firm ANRI and private investors had injected tens of millions of yen (¥10m=$900,000) in funding in December 2017.
Lovo, a US-based intelligent speech technology developer, has secured $4.5m in a pre-series A round backed by University of California, Berkeley’s Skydeck Fund, according to TechCrunch. The round was co-led by LG CNS, an IT services affiliate of electronics conglomerate LG, together with Kakao Entertainment and Kakao Investment, two subsidiaries of internet group Kakao. Angel investor Michael Kim also took part in the round, while the Skydeck Fund was described as an existing shareholder. Lovo’s investors also include convergence software provider Ntels, Hustle Fund and Primer Sazze Partners, according to its website.
Ambisense, an Ireland-based pollution analytics device manufacturer spun out of Dublin City University, has collected €3m ($3.5m) in a funding round led by BGF, with participation from Atlantic Bridge, Enterprise Ireland and Sure Valley Ventures, according to Silicon Republic. Ambisense previously raised $1.2m in May 2019 from Atlantic Bridge and Suir Valley Ventures, with Enterprise Ireland revealing its participation in the round four months later.
PGV, a Japan-based mental wellbeing technology developer spun out of Osaka University and backed by its Osaka University Venture Capital (OUVC) unit, has raised ¥300m ($2.7m) in series B funding from pharmaceutical firm Shionogi. OUVC, a repeat investor, last supplied $1.4m in funding in July 2020.
Mondas, a Germany-based developer of a cloud platform to manage heat and power plants, has secured €1.7m ($2m) in a funding round backed by Fraunhofer Technologie-Transfer Fonds (FTTF), a vehicle for Fraunhofer Society. The round also featured MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg and S-Beteiligungsgesellschaft, the latter on behalf of financial services firm Sparkasse Freiburg – Nördlicher Breisgau, and assorted angel investors. Mondas was founded in 2018 as a spinout of Fraunhofer Institute for Solar Energy Systems, but while FTTF was identified as a returning investor, further funding details could not be ascertained.
NuCurrent, a US-based wireless power technology developer exploiting Northwestern University research, has secured $375,000 from IU Ventures, the institution’s fund management arm, through its Innovate Indiana Fund. The company is additionally due to receive an investment of undisclosed size from the IU Philanthrophic Venture Fund, another fund operated by IU Ventures. The latter fund had already supplied $1m as part of NuCurrent’s series C round in 2019.
Apexian Pharmaceuticals, a US-based developer of treatments for cancer and other life-threatening conditions based on research at Indiana University, has obtained $100,000 in funding from IU Ventures, the institution’s fund management arm. Apexian closed a series A round of undisclosed size in November 2017, identifying only lead investor Elevate Ventures as a participant. Regulatory filings show the spinout secured $2.5m in June 2013, $275,000 in June 2015, $1.3m in November 2016, $2.8m in July 2018 and $150,000 in March 2019. IU Ventures said it was an existing backer, but further details could not be confirmed.
AbilyCare, a France-based preventative and personalised health technology developer, has been established by Erganeo, one of the regional tech transfer offices under the Satt Network umbrella. The spinout was incorporated last month. Its initial product is aimed at healthcare and social care professionals, helping them to quantify the motor skills of patients and assessing the risk of frailty.
– Additional reporting by Robert Lavine and Liwen-Edison Fu.
