Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Pale Blue, a Japan-based developer of propulsion machines for microsatellite spun out of University of Tokyo, has raised ¥70m ($670,000) of seed capital from Mitsui Sumitomo Insurance Venture Capital, the venture capital subsidiary of insurer Mitsui Sumitomo Insurance Group, and Incubate Fund, which were joined by unnamed banks that supplied debt financing. The company’s overall funding has reached $1.3m, having been incubated by UTokyo IPC 1st Round in April this year.
Oterlu, a Sweden-based provider of social interaction moderating tools for online video games, has obtained SEK3m ($348,000) from investors including Chalmers Ventures, the strategic investment arm of Chalmers University of Technology. The deal was filled out by Icebreaker and private investor Björn Jeffery. Oterlu has developed artificial intelligence-driven software to automatically prevent harassment and bullying on online gaming platforms.
Phytochem Products, a Japan-based rice bran-derived product manufacturer spun out of Tohoku University, has completed a ¥20m ($190,000) series A round featuring financial services firm Mizuho Bank subsidiary Mizuho Capital’s Mizuho Growth Support Fund III.
Happy Quality, a Japan-based artificial intelligence-equipped cultivation technology developer that leverages studies conducted by Shizuoka University, has raised an undisclosed amount of funding from Sony Innovation Fund, the electronic product manufacturer Sony’s corporate venturing vehicle, and Shizuoka Ventures, a regional startup community and investment firm also known as The Society for Venture Investment & Consultation. It had closed a $925,000 seed round featuring financial services firm Shinkin Central Bank subsidiary Shinkin Capital’s Yaramaika Fund and Hamamatsu City Fund Support Business in February 2020.
