Every day, Global University Venturing rounds up investments from across the university innovation ecosystem in its deal net.
BenchSci, a Canada-based drug discovery analysis software developer spun out of University of Toronto, has attracted C$63m ($49.5m) in a series C round co-led by Inovia Capital and TCV, according to Betakit. Gradient Ventures, internet technology provider Google’s artificial intelligence fund, also took part in the round, as did financial services group Fidelity’s F-Prime Capital unit, Northleaf Capital Partners and Golden Ventures.
Reimagine Care, a US-based provider of oncology services to support home-centred cancer care, has closed a $25m funding round backed by CU Healthcare Innovation Fund, a strategic vehicle affiliated with University of Colorado Anschutz Medical Campus, as well as medical college and cancer care provider City of Hope. The round was co-led by Santé Ventures, Martin Ventures and LRVHealth and additionally included medical devices distributor McKesson’s corporate venturing division, McKesson Ventures.
Cytovation, a Norway-based cancer treatment spinout of Bergen University, has collected NOK180m ($20m) in a round led by venture capital firm Sandwater. The spinout will use the money to advance its lead asset through an ongoing phase 1/2 Cicilia trial. Cytovation previously obtained $2.2m in funding from angel investors in June 2017.
SeqOne, a France-based genomic data analytics platform for cancer and rare diseases, has obtained €20m ($22.3m) in a series A round co-led by Omnes and Mérieux Equity Partners. Software Club, Elaia and Irdi Capital also took part. The round reportedly provided an exit for SATT AxLR, which had injected €600,000 to found the company in 2017.
Mentor Collective, a US-based provider of mentoring programmes, has raised $21m in series A financing led by Resolve Growth Partners, with participation from Lumina Foundation. IU Philanthropic Venture Fund, a vehicle managed by Indiana University’s fund management arm IU Ventures, had contributed to a May 2021 round and a 2019 round.
PQShield, a UK-based quantum computing technology spinout of University of Oxford, has pocketed $20m in a series A round backed by university venture fund Oxford Science Enterprises, according to TechCrunch. The round was led by Addition and also included Crane.
Beijing Honest Technology, a China-based developer of industrial sorting and inspection technology, has raised $15m in a series A round backed by Tus Star and Cash Capital, respective vehicles of Tsinghua University and Chinese Academy of Sciences, DealStreetAsia reported on Friday. The round was led by Essence Securities.
HQS Quantum Simulations, a Germany-based complex quantum simulations platform, has attracted more than €12m ($13.4m) in a funding round backed by UVC Partners, the venture capital arm of TU Munich’s commercialisation hub UnternehmerTUM. The round was led by Quantonation and also included Btov Industrial Technologies and High-Tech Gründerfonds.
FarmRaise, a US-based platform that allows farmers to access grants for carbon emission reduction, has secured $7.2m in a seed round backed by University of Chicago, according to TechCrunch. The round was led by Susa Ventures and also attracted Cendana Capital, Ulu Ventures, Pear, Better Tomorrow Ventures, Incite Ventures and Financial Ventures Studio.
Diffblue, a UK-based artificial intelligence-powered software development platform spun out of University of Oxford, has received an investment likely sized around $7m led by commercialisation firm IP Group, with participation from its fund management arm Parkwalk Advisors, as well as University of Oxford, Oxford Technology Investment Fund and private investors. The company has now raised more than $32m in funding, it said. It had previously secured £18.9m, Global University Venturing records show.
Sync Computing, a US-based distributed cloud infrastructure startup, has emerged from stealth with $6.1m, raised through a round backed by existing shareholder The Engine, the venture fund and incubator formed by Massachusetts Institute of Technology and also backed by Harvard University. Energy provider National Grid’s strategic investment arm, National Grid Partners, and investment firm Moore Strategic Ventures co-led the round.
Elmedix, a Belgium-based developer of controlled heat treatments for cancer spun out of University of Antwerp, has raised €4m ($4.5m) in funding from undisclosed investors. The round brought its total equity funding to just over €10m, it said.
Ufraction8, a UK-based bioseparation technology spinout of Heriot-Watt University, has raised more than £2.5m ($3.4m) in combined equity and grant funding, according to the Scottish Business Insider. A breakdown or details about the investors were not disclosed in the report.
Zymoptiq, a France-based enzymatic dosing technology producer, has raised more than €3m ($3.3m) in a funding round backed by Thia Ventures, Captéch Santé, Nord Création, Nord France Amorçage and Bpifrance. The spinout is based on research at state-owned research organisation CNRS and joint research institute IEMN.
Enabled Robotics, a Denmark-based developer of flexible collaborative robots, has raised DKK18.2m ($2.7m) in funding from undisclosed corporates and individual investors, including a range of the spinout’s own employees, according to Fyens. Enabled Robotics was spun out of University of Southern Denmark in 2016.
Caeli Energie, a France-based low environmental impact air conditioning technology developer spun out of University Savoie Mont Blanc (also known as Chambéry University) and state-owned research organisation CNRS, has raised €2.1m ($2.3m) in a pre-seed round featuring construction company Vinci. Caeli Energie was set up by regional tech transfer office Satt Linksium in 2019.
RespirAq, a New Zealand-based respiratory technology spinout of Auckland University of Technology, has pocketed NZ$1.5m ($990,000) in funding from Outset Ventures, Icehouse Ventures and Cure Kids Ventures, according to Scoop.
HiccAway, a US-based developer of a medical device to stop hiccups based on research at University of Texas Health San Antonio, has received $900,000 in funding from angel investor Mark Cuban in exchange for a 20%. The money was secured through an appearance on Shark Tank, a reality television series for entrepreneurs to pitch to wealthy investors.
GreenMark Biomedical, a US-based developer of non-invasive and non-surgical ways to assess and treat dental caries, has received $830,000 in convertible notes ahead of a series A round later this year. The money has been committed by investors including MINTS as well as Red Cedar Ventures and Michigan Rise, vehicles linked to University of Michigan and its foundation, respectively. BlueWater Angels also took part in the round, as did co-inventor Brian Clarkson, his wife Cheryl Clarkson and unnamed company management. MINTS, Red Cedar Ventures, Michigan Rise and BlueWater Angels participated as existing shareholders.
Man-Machine Synergy Effectors, the Japan-based humanoid robot technology spinout of Ritsumeikan University, has received an undisclosed amount in pre-series B1 funding from Kansai Mirai fund 2, a vehicle operated jointly by Resona Capital, part of Resona Bank, and fellow financial services firm Kansai Mirai Bank.
Rege Nephro, the Japan-based kidney disease treatment developer spun out of Kyoto University’s Centre for iPS Cell Research and Application, has received an undisclosed sum from MUFG Medical Fund, a vehicle for financial services group Mitsubishi UFJ subsidiary Mitsubishi UFJ Capital.
– Additional reporting by Liwen-Edison Fu
