Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Quaise, a US-based precision geothermal drilling technology spinout of Massachusetts Institute of Technology (MIT), has obtained $6m in a seed round led by MIT-aligned tough tech fund and incubator The Engine that also included venture firm Collaborative Fund and private investor Vinod Khosla. Quaise has devised a deep drilling method for extracting geothermal energy produced and stored within the interior of Earth. The technique relies on a gyrotron to produce millimetre-scale electromagnetic waves, facilitating drilling at subterranean depths ranging from…
