The Global University Venturing deal net rounds up the smaller investments from across the university innovation ecosystem.
Diligent Robotics, a US-based robotic automation technology developer, secured over $30m yesterday in a series B round featuring Massachusetts Institute of Technology Media Lab’s E14 Fund. The round was led by Tiger Global Management and also included healthcare provider Cedars-Sinai’s strategic investment arm, Cedars-Sinai Health Ventures, True Ventures, DNX Ventures, Ubiquity Ventures, Next Coast Ventures, Boom Capital and Gaingels.
MS Energy, a China-based clean energy services provider, has received “tens of millions” of US dollars in series B and B-plus funding, according to DealStreetAsia. The series B round was backed by Creo Capital and Legend Capital, respective venture capital firms linked to conglomerates NSW Holdings and Legend Holdings, as well as Source Code Capital. The series B-plus round attracted GGV Capital. MS Energy’s earlier backers included Hong Kong X-Tech Startup Fund, an investment vehicle linked to professors from two Hong Kong universities, and Innoangel Fund.
GripAble, a UK-based gamified rehabilitation platform that emerged out of Imperial College London, has raised $11m in a funding round co-led by IP Group and its fund management subsidiary Parkwalk Advisors. Learn more about GripAble in our July 2021 profile of the company and interview with chief executive Paul Rinne.
Elastrin Therapeutics, a US-based developer of therapeutics that render calcified tissue and organs supple again based on research at Clemson University, has completed a $10m funding round led by Kizoo Technology Capital, with participation from Starbloom Capital and SC Launch.
OniGO, a Japan-based on-demand grocery delivery service, has received ¥720m ($5.8m) in a seed round led by University of Tokyo’s Edge Capital Partners, taking its overall funding to ¥1.18bn ($9.5m).
Regulatory Genome Development, a UK-based structured machine-readable regulatory information platform spun out of University of Cambridge, closed a $6m seed round yesterday backed by tech transfer office Cambridge Enterprise. The round was led by Evolution Equity Partners, with additional contributions from payment processing firm Mastercard and AlbionVC.
Metro Weather, Japan-based wind 3D visualisation system developer spun out of Kyoto University, has secured ¥700m ($5.6m) in series A funding from investors including JGC Mirai Innovation Fund, Kuroneko Innovation Fund, Mol Plus, JR East Start Up, ACSL 1, Kyogin Lease Capital, Mitsubishi UFJ Capital and SMBC Venture Capital, respective subsidiaries of engineering firm JGC Holdings, delivery service Yamato Holdings, shipping company Mitsui OSK Lines, rail operator JR East, autonomous robotics technology developer Autonomous Control Systems Laboratory, leasing services firm Kyogin Lease as well as financial services firms Mitsubishi UFJ and Sumitomo Mitsui Banking Corporation. Electronic part producer Kanetsu filled out the participants alongside RealTech Fund and Drone Fund, and the round included debt supplied by Japan Finance Corporation.
Highres, a Japan-based graphics processing unit data centre operator, has raised ¥570m ($4.6m) from Tokyo University of Science’s Innovation Capital unit, calendar producer Jingukan, agricultural and food product provider Cifra, financial services firm Shinsei Bank’s Shinsei Corporate Investment subsidiary and VC firm Now, taking its total equity and debt funding to ¥2bn ($1.6m).
Aclarity, a US-based water treatment technology spinout of University of Massachusetts Amherst, has completed a $3.3m seed round backed by the Maroon Fund, a venture vehicle focused on companies emerging out of UMass Amherst. The round was led by Burnt Island Ventures, with additional participation from DCVC and MassVentures.
Authentic Material, a France-based animal and vegetable waste recycling company, is raising €2.5m ($2.7m) from an undisclosed luxury goods producer, according to Touléco. The investment is set to close at the end of this month, when the identity of the investor is expected to be revealed. Authentic Materials previously raised $1.1m in funding from Bpifrance and Cuir Invest in December 2019, having obtained some $572,000 in funding in 2018 from SATT Toulouse Tech Transfer, École d’ingénieurs de Purpan and assorted angel investors.
Dracen Pharmaceuticals, a US-based cancer treatment spinout from Johns Hopkins University, has received $2m from i&i Biotech Fund I, adding to a $40m series A round raised in 2018. Dracen obtained $8.6m in funding in November 2021, according to a regulatory filing, but it is unclear whether i&i’s investment forms part of that amount.
MilliBeam, an Australia-based semiconductor technology developer, has emerged from stealth with A$750,000 ($558,000) in funding from Main Sequence Ventures, the deep tech venture firm established by CSIRO.
Palats, a Sweden-based proptech platform for inventory management, has completed its inaugural funding round with SEK4.4m ($460,000) in cash from investors including Chalmers Ventures, the innovation arm of Chalmers University of Technology. The round also featured Länsförsäkringar Göteborg och Bohuslän, a member company of insurance group Länsförsäkringar, and angel investor Adam Nilsson.
Enduro Genetics, a Denmark-based large-scale fermentation technology developer spun out of Technical University of Denmark, has closed its first funding round led by Noon Ventures. A figure was not disclosed.
PolyCore Therapeutics, a US-based developer of treatments for patients suffering from dyskinesia and cognitive impairment associated with neurodegenerative disorders, has raised an undisclosed amount of seed funding from Xontogeny and Ben Franklin Technology Partners of Southeastern Pennsylvania. PolyCore was co-founded by chief scientific officer Sandhya Kortagere, a professor in Drexel University’s College of Medicine.
– Additional reporting by Edison Fu and Robert Lavine
