Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Biobot Analytics, a US-based developer of technology to detect levels of the coronavirus in wastewater that is based on research at Massachusetts Institute of Technology, has obtained $20m in a funding round backed by The Engine, according to Bloomberg. Thursday Ventures led the round, with participation from insurance provider American Family Insurance’s impact investment arm Institute for Corporate and Social Impact, as well as Plum Alley Investments and private investors Anne Wojcicki and Tom Knight. Biobot is in discussions with one additional, unnamed investor to join the round. The money will allow Biobot to deploy its technology to test for Sars-Cov-2 and influenza by the end of the year, and also plans to restart efforts for its original focus on opioid. The Engine was among the investors in a $6.7m seed round closed in April 2020.
Hedron, a US-based satellite communications technology developer originally called Analytical Space, has raised $17.8m in a series A round featuring The Engine, the venture fund and incubator launched by Massachusetts Institute of Technology. Fine Structure Venture led the round, with participation from Lockheed Martin Ventures, the corporate VC arm of aerospace manufacturer Lockheed Martin, Republic Labs, Lime Street Ventures, Explorer 1 Fund, NKM Capital, Flybridge, Yard Ventures and Space Angels. The latter three had, together with The Engine, Shasta Ventures, Dream Incubator, Dorm Room Fund and NXT Ventures contributed to a $3.5m seed round in 2017.
Alvedus Bio, a US-based chronic respiratory illnesses treatment developer, has been spun out of ResBiotic, itself a University of Alabama at Birmingham, with $4.5m in seed funding. Investors in the round have not been disclosed.
Bonnet, a UK-based developer of a mobile app that helps drivers find and use charging points, has secured £920,000 ($1.3m) in a pre-seed round featuring the Imperial College Innovation Fund (ICIF), managed by Parkwalk Advisors on behalf of Imperial College London, as well as APX – a venture capital firm backed by publisher Axel Springer and carmaker Porsche – and Ascension Ventures. Assorted angel investors also took part in the round, to which ICIF contributed £300,000.
Sofant Technologies, a UK-based 5G satellite communications technology spinout of University of Edinburgh, has received £843,000 ($1.2m) in a funding round backed by NetScientific, according to ProactiveInvestors. British Business Bank provided £200,000 of match-funding, but it is unclear whether this was included in the £843,000 total. The other investors were not identified.
Pepite, a Belgium-based spinout of University of Liège using artificial intelligence to help companies optimise industrial processes, has raised €770,000 ($893,000) from undisclosed investors, according to L’Avenir.
Fire Tech, a UK-based provider of extracurricular technology education for children and teenagers, has picked up £600,000 ($825,000) in a funding round backed by the Cass Entrepreneurship Fund, a vehicle for Bayes Business School at City University of London. Emerge Education and angel investors also participated.
Pretzel Therapeutics, a US-based developer of therapies targeting mitochondrial dysfunction co-founded by faculty from University of Cambridge, Karolinska Institute and University of Gothenburg, has secured an undisclosed amount of funding in a round involving patient capital fund Cambridge Innovation Capital.
– Additional reporting by Robert Lavine