Germany-based Whitesonic, the developer of an ultrasound scanner that enables digital dental impressions to be used for dental prosthetics, has received a six-figure sum in a seed round, from public-private partnership High-Tech Gründerfonds. Whitesonic is a spinout of RWTH Aachen University. The company will use the cash to further develop its scanner as it prepares to launch a prototype this year that can be used on patients, with the aim of launching commercially in 2017.
Cyberowl, a cybersecurity spinout of Coventry University, has closed a £510,000 ($630,000) funding round backed by Coventry University Enterprises, the institution’s commercialisation arm, and commercialisation firm Mercia Fund Management. Mercia previously provided £150,000 in seed capital in June 2016. Cyberowl is a joint venture between Coventry University and UK-based cybersecurity technology producer Crossword Cybersecurity. The money will go towards accelerated product development. Cyberowl is working on a network monitoring product aimed at internet of things and smart city applications.
Proxisense, a spinout of Oxford University that is working on sensor technologies, has receive £330,000 in seed funding led by Parkwalk Advisors. Proxisense is developing sensors that can be used in extreme environments to enable applications such as monitoring the amount of lubrication fluid present in a jet engine. The company is based on research conducted at Oxford’s Department of Engineering by Kam Chana. It was spun out by the institution’s tech transfer office Oxford University Innovation.
Neurable, a US-based developer of technology that facilitates interaction between the human brain and computers, has secured $2m in a seed round backed by conglomerate Kraft Group. VC firm Accomplice’s Boston Syndicate led the round, which included Point Judith Capital, Loup Ventures, NXT Ventures and undisclosed angel investors. Neurable is based on research conducted at Michigan University’s Direct Brain Interface Laboratory. [The original version of this news first appeared on our sister site Global Corporate Venturing.]
Cambridge Enterprise, the tech transfer office of Cambridge University, has spun out Cycle Pharmaceuticals, a developer of a treatment for vascular diseases. The company exploits intellectual property jointly developed by Cambridge University and King’s College London.
The Primary Care Innovation Fund, an investment vehicle owned by Philadelphia College of Osteopathic Medicine, has injected an undisclosed amount into US-based digital health company AristaMD. The investment marks the first time the fund has backed a company after it was launched in May 2016.
US-based mobile student engagement platform ClearScholar raised $1.25m in funding yesterday from Butler University as well as High Alpha Capital, Elevate Ventures, Bulle Investments and angel investor Stephen Simon. The company launched out of incubator High Alpha Studio in 2016 with the support of Butler University. The money will drive recruitment across the sales, marketing and product development teams.
