Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Acerta Analytics, a Canada-based assembly and vehicle data software spinout of University of Waterloo, has closed a $7m series A round led by Omers Ventures, the investment arm of pension fund manager Omers, and also included software producer Microsoft’s corporate venture capital division M12, StandUp Ventures, Radical Ventures, EDC and Techstars. Acerta’s artificial intelligence-driven platform enables automotive engineers to extract meaningful insights from the data generated by connected cars. M12 previously injected $2m in late 2018, adding to earlier financing from Velocity and Trifecta Capital.
ACT Genomics, a Taiwan-based advanced cancer diagnostics company, has received an undisclosed sum from Kyoto University’s venture fund Kyoto University Innovation Capital and Aflac Ventures, the corporate VC fund for insurance provider Aflac. Founded in 2014, ACT Genomics offers molecular cancer testing to clinicians, leveraging DNA sequencers to provide more granular insights than conventional methods. The company has a presence in multiple Asian markets, processing samples from labs in Taiwan, Hong Kong and Japan. CLSA Capital Partners led a round of undisclosed size for ACT in late 2018 according to AVCJ, following a $12.5m series B round co-led by Hotung Group and CDIB Capital Management with participation from UMC Capital, an investment arm of semiconductor foundry UMC, investment manager President International Development, Eminent II VC and Hua Nan Venture Capital. ACT Genomics also counts HKSTP Ventures, the strategic investment unit of research incubator HKSTP, as an existing investor.
– Additional reporting by Thierry Heles
