Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
PreVeil, a US-based encryption technology developer co-founded by faculty from University of California (UC), Berkeley, secured a reported $7m in a series B round led by Presidio Ventures, the corporate venturing division of diversified conglomerate Sumitomo, on Tuesday. Spark Capital, which previously led a series A round of undisclosed size in March 2018, provided follow-on funding. PreVeil was co-founded by Raluca Ada Popa, assistant professor of computer science at UC Berkeley, together with entrepreneurs Sanjeev Verma and Randy Battat. Verma and Battat had supplied an unspecified amount of seed funding to launch the company.
Embr Labs, a US-based thermal technology producer that emerged out of Massachusetts Institute of Technology, picked up $6m in series B funding on Monday led by DigiTx Partners, with participation from Bose Ventures, the corporate venturing unit of audio equipment manufacturer Bose, Safar Partners, Joyance Partners and PBJ Capital. Founded in 2017, Embr Labs has created a bracelet that can make the user feel up to 9°C (5°F) warmer or colder. The money will allow Embr to grow its footprint in wellness and digital health, drive product development and validate new use cases in thermal wellness. Details about Embr’s series A round could not be confirmed.
