Inductosense, a UK-based wireless sensor developer spun out from University of Bristol, has raised £1.1m ($1.4m) from investors including the Institution of Mechanical Engineers’ Stephenson LP Fund, according to NewElectronics. The spinout is working on ultrasonic, wireless sensors that can monitor corrosion, cracks and defects in infrastructure such as nuclear power plants. The money will allow Inductosense to move towards a commercial launch. The spinout previously obtained £489,000 in grant funding from government agency Innovate UK in 2015.
Real World Group, a UK-based spinout from University of Leeds that offers leadership, team and board development tools to businesses such as oil company Shell, has secured a six-figure investment from angel investor Rachel Hannan, according to Insider Media. The cash injection comes ahead of a new product launch, focused on executive selection, anticipated for later this year.
Biopharmaceutical firm PureTech Health signed an exclusive licensing agreement with Monash University on Tuesday for technology that uses the lymphatic system to develop treatments. The technology, Glyph, is based on research by Christopher Porter, director of the Monash Institute of Pharmaceutical Sciences. Financial terms of the deal have not been disclosed.
Specialty chemicals manufacturer Croda International has made an investment of undisclosed size in Cutitronics, a Scotland-based personal skincare spinout from University of Strathclyde, as part of a strategic partnership agreement, according to Insider.co.uk. Founded in 2014, Cutitronics’s technology, called Cutitron, measures skin health and stimulates the skin to allow products to penetrate deeper layers and maximise efficiency. The spinout has enjoyed the support of the High Growth Ventures unit at government-owned economic development agency Scottish Enterprise.
University of Chicago has participated in an oversubscribed $3m series A round for Explorer Surgical, a US-based platform to manage intraoperative surgical workflow. The round was led by Aphelion Capital and also featured Elliott Management, M25 Group and Harvard Business School Angels of Chicago. The platform is based on research by head and neck surgeon Alex Langerman at University of Chicago Medical Center. The deal marks the first time that University of Chicago has invested through its UChicago Startup Investment Program, funded by the institution’s endowment fund.
