Every day, Global University Venturing rounds up investments from across the university innovation ecosystem in its deal net.
Ambagon Therapeutics, a US-based biotech developer using small molecules to unlock disordered protein targets, launched last week with $85m in series A funding to commercialise research conducted at University of California, San Francisco and Eindhoven University of Technology. The round’s backers included Merck and Co’s MRL Ventures Fund and fellow pharmaceutical firm AbbVie’s corporate VC unit, AbbVie Ventures. It was led by Nextech Invest and also featured Surveyor Capital as well as RA Capital Management, Droia Ventures, Inkef Capital and Mission BioCapital – like MRL Ventures and AbbVie Ventures existing backers.
StoreDot, an Israel-based fast-charging battery technology developer spun out of Tel Aviv University, has raised an initial $60m in series D funding led by carmaker VinFast, the spinout’s chief executive Doron Myersdorf told Calcalist. The transaction also includes oil and gas company BP’s corporate venturing unit, BP Ventures, together with Golden Energy Global Investment. StoreDot is hoping to raise an additional $20m before closing the round, which values the business at $1.5bn.
YourMyStar, a Japan-based cleaning and repair services platform, has raised ¥2.3bn ($20m) in equity and debt financing from investors including Globis University’s Graduate School of Management. The round featured Z Venture Capital, SMBC Venture Capital and Mizuho Capital, respective vehicles for internet group Z Holdings and financial services firms Sumitomo Mitsui Banking Corporation and Mizuho Bank. Ariake Secondary Fund 2, Axiom Asia 6, ForStartups Capital, Incubate Fund, Jafco and three unnamed companies also took part.
Cellusion, a Japan-based regenerative medicine developer, has closed a ¥1.1bn ($9.5m) funding round that included Keio University’s Keio Innovation Initiative, which co-led the round, and University of Tokyo Edge Capital Partners, a venture capital affiliate of University of Tokyo. The round was co-led by banking group Sumitomo Mitsui Banking Corporation’s SMBC Venture Capital unit and DBJ Capital, while pharmaceutical and medical device wholesaler Toho Holding, packaging manufacturer Toyo Seikan Group Holdings and drug development services provider Gemseki also took part.
HawkEye 360, a US-based radio frequency data provider based on research at Virginia Tech, has procured $5m in series D funding from engineering company Leidos to bring the round’s total to $150m. The November 2021 first close was co-led by Insight Partners and Seraphim Space Investment Trust and included construction management and consulting firm Jacobs, Tawazun Holding’s Strategic Development Fund, New Vista Capital, Gula Tech Adventures, 116 Street Ventures, New North Ventures and existing backers Advance, Razor’s Edge, NightDragon, SVB Capital, Shield Capital and Adage Capital.
The ePlane Company, an India-based flying taxi developer based on research at Indian Institute of Technology, Madras, has raised $5m in funding from investors including University of Tokyo Edge Capital, the venture capital affiliate of University of Tokyo, the Economic Times reported today. Speciale Invest and Micelio co-led the round, which also attracted internet company InfoEdge as well as 3one4 Capital, Anicut Capital, Thought Ventures, Java Capital, Firstcheque.vc and angel investors including Naval Ravikant. The latter had co-led a $1m seed round March 2021 together with Speciale Invest. The seed round had also attracted Indian Institute of Management, Ahmedabad’s CIIE incubator, Java Capital and Firstcheque.vc.
Neurinnov, a France-based neurostimulation implant developer spun out of University of Montpellier and the National Institute for Research in Digital Science and Technology (INRIA), has raised €3m ($3.4m) in funding from Irdi Capital Investissement, Pertinence Invest and Sofilaro, a division of Crédit Agricole du Languedoc. The company, founded in 2018, concurrently obtained the same amount in the form of grants.
HeartKinetics, a Belgium-based remote cardiac monitoring technology producer spun out of Université libre de Bruxelles, has procured €3m ($3.4m) in funding from Sambrinvest and the Walloon regional government. HeartKinetics was developed to monitor the life signs of astronauts aboard the International Space Station, and the company hopes to bring its first applications to market in 2023.
CogSmart, a Japan-based neurologists’ specialised software developer spun out of Tohoku University, has received ¥350m ($3m) in series A funding from investors including DG Daiwa Ventures, a vehicle for internet company Digital Garage and investment bank Daiwa Securities, as well as Omron Ventures, the corporate venturing arm of automation equipment manufacturer Omron; and Makoto Capital, part of consulting firm Makoto. Advanced medical services group I’Rom Group, VC firm IT-Farm and unnamed private investors filled out the round, which took its total funding to ¥410m ($3.5m at current exchange rates).
Bert Thin Films, a US-based developer of low-cost, copper-based paste to replace the more expensive silver component in solar cell manufacturing, has raised $1m in funding from undisclosed investors, according to KY Inno. The company, based on research at University of Louisville, was founded in 2019 and previously secured $1m in capital in 2019.
YNOS Venture Engine, an India-based business intelligence and analytics platform spun out of Indian Institute of Technology, Madras, has picked up Rs25m ($338,000) in seed funding from assorted angel investors, according to the Hindu Business Line. The spinout had previously secured Rs7.5m ($105,000) in angel funding in December 2019.
Acomhal Research, a US-based cancer stem cell research spinout of Virginia Tech’s Fralin Biomedical Research Institute, has obtained $305,000 from the Virginia Tech Carilion Seed Fund, Virginia Innovation Partnership Corporation, GAP Funds Program and CommonWealth Angels.
Synapse Innovation, a Malaysia-based developer of machine learning-focused data analytics technology spun out of Universiti Teknologi Malaysia, has secured an undisclosed sum from drone data technology producer Aerodyne in return for a principal stake.
– Additional reporting by Liwen-Edison Fu and Robert Lavine
