Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Firefly, a US-based provider of digital billboards for ridesharing vehicles that is backed by Stanford University-aligned Stanford-StartX Fund, has secured AED55m ($15m) in funding from Multiply Marketing Consultancy, a subsidiary of diversified holding firm PAL Group of Companies division International Holding Company. Multiply previously invested an undisclosed amount in May this year. Stanford-StartX had taken part in a $21.5m seed round in 2018 before GV, an early-stage investment subsidiary of technology conglomerate Alphabet, led a $30m series A round in 2019. NFX, Pelion Venture Partners, Decent Capital, Industry Ventures, Muse Capital, Chesterfield Investments, Cross Culture Ventures and outdoor marketing company Strong Outdoor as well as assorted angel investors are also investors in Firefly.
PhenoTips, a Canada-based genetics software developer spun out of University of Toronto and the Hospital for Sick Children, picked up C$2.5m ($2m) in seed financing backed by commercialisation firm Toronto Innovation Acceleration Partners and led by GreenSky Accelerator Fund IV. The round also included Thin Air Labs, Yorkville Partners and individual investors.
Tigeraire, a US-based developer of a more comfortable, actively cooled American football helmet based on research at Louisiana State University, raised $1.5m in seed funding in December 2020, the Advocate reported yesterday. The round was led by General Catalyst and featured angel investors David Lightburn, John Elstrott and Patrick Coogan, who subsequently became Tigeraire’s chief revenue officer.
