Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Genomenon, a US-based genome sequencing analysis software spinout of University of Michigan, secured $5.3m in a funding round yesterday backed by Michigan Rise and Red Cedar Ventures, a state-backed seed fund managed by and an early-stage venture arm of Michigan State University Foundation. The round also attracted insurer Atain Specialty Insurance, BroadOak Capital Partners, Green Park & Golf Ventures, Invest Detroit Ventures, IrishAngels, Michigan Angel Fund and Invest Michigan. Genomenon previously secured an undisclosed sum from Michigan Rise in September 2020.
Metagen Therapeutics, a Japan-based microbiome drug developer spun out of Tokyo Institute of Technology, has raised ¥90m (825,000) from Keio Innovation Initiative, a vehicle for Keio University, and biotechnology-focused venture capital firm Fast Track Initiative. The spinout was incubated by Tech Planter, a startup incubator and accelerator scheme operated by research firm Leave a Nest, in 2015 and received an undisclosed amount of funding from the latter two years after.
– Additional reporting by Liwen-Edison Fu