Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Hazy, a UK-based synthetic data creation platform spun out of University College London, has collected $3.5m in a follow-on seed round led by venture firm Notion. Mutual financial services institution Nationwide and M12, the corporate venturing vehicle for computer software publisher Microsoft, both backed the round alongside retail and wholesale holding group Pentland, investment group Albion and undisclosed additional investors. The funding will help grow Hazy’s headcount, operations and partnerships as it builds synthetic data applications for regulated industries including the financial sector. Hazy previously closed its $2.8m seed round in 2018 with contributions from UCL’s Technology Fund, Nationwide, M12, Notion, Amadeus Capital Partners, AI Seed and undisclosed additional investors.
Defendify, a US-based cybersecurity platform, has closed a $2m seed round that included Maine Technology Institute (MTI), FinSMEs has reported. The round was led by 3dot6 Ventures and also included York IE, Maine Venture Fund, FreshTracks Capital and Wasabi Venture Partners. Defendify will invest the capital in product development, and recruitment, sales and marketing activities as it looks to attract business for its cybersecurity service catered to small enterprises. MTI also participated in the company’s $1.6m pre-seed round in June 2019 alongside assorted private investors, who led the round, and 3dot6 Ventures.
PhysIQ, a US-based physiological data analysis spinout of Purdue University, has obtained $500,000 from Purdue Research Foundation’s Foundry Investment Fund, matched partially by contributions from undisclosed investors. PhysIQ hopes to improve medical care outcomes by applying artificial intelligence to physiological data extracted from wearable sensors. It was founded by Gary Conkright, an alumnus of Purdue’s College of Engineering.
Nanology Labs and Xpan, two Canada-based oncology spinouts of University of Toronto, have both secured undisclosed sums of funding from Fight Against Cancer Innovation Trust (Facit), the seed-stage commercialisation affiliate of Ontario Institute for Cancer Research. Xpan is developing a surgical instrument known as a trocar, used to withdraw fluid through cavities in the body during the surgery, that is less hazardous, costly and invasive than competing products. Nanology Labs meanwhile aims to leverage nanoscience-driven radiotherapeutic agents that simultaneously detect and oxygenate cancerous tumours – part of a relatively-new oncological specialism called theranostics. Facit backed the spinouts through its Compass Rose Fund, having previously invested through proof-of-concept vehicle Prospects Fund at undisclosed dates.
Cell Tissue Technology (CTT), a US-based biological tissue engineering spinout of National University of Malaysia, has obtained an undisclosed sum from government-founded investment firm VentureTech, DealStreetAsia has reported. The funding will help build out CTT’s operations and acquire new assets to support the spinout’s cell engineering service, offered for applications including synthesised tissues, regenerative medicine and cellular therapy. Another Malaysian government-sponsored unit, Malaysian Technology Development Corporation, supplied CTT with seed funding at an undisclosed date.
Infuser, a Denmark-based air purification technology spinout of University of Copenhagen, has raised an undisclosed amount from Samsung Ventures, the corporate venturing division of consumer electronics provider Samsung. The funding will help the company to expand internationally.
– Additional reporting by Robert Lavine, news editor of Global Corporate Venturing