Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Precirix, a Belgium-based precision radiopharmaceuticals developer spun out of Vrije Universiteit Brussel, closed an €80m ($88m) series B round today backed by V-Bio Ventures, the venture capital firm aligned with research institute VIB. The round was co-led by Inkef Capital, Jeito Capital and Forbion, and additionally included pharmaceutical firm Novo as well as Gimv, HealthCap, Pontifax Venture Capital, BioMed Partners, and all seed-stage investors, of which only Fournier-Majoie Foundation was previously identified. Precirix raised $42m in series A financing from backers including V-Bio Ventures in 2018, when Precirix was still known as Camel-IDS.
AiFi, a US-based autonomous retail technology developer backed by Stanford University-aligned Stanford-StartX, received $65m on Friday in a series B round featuring corporates Aldi South Group (Aldi Süd), Rewe, Żabka, HP, Qualcomm and Verizon. Supermarket chains Aldi Süd, Rewe and Żabka invested directly while computing technology provider HP, mobile chipmaker Qualcomm and telecommunications firm Verizon took part through HP Tech Ventures, Qualcomm Ventures and Verizon Ventures respectively. Investment firm Mithril Capital filled out the participants in the round, which lifted the company’s funding to $80m since it was founded in 2016. Stanford-StartX participated in a reported $4m seed round in 2019.
Mori, a US-based food technology spinout of Massachusetts Institute of Technology (MIT), has secured $50m in a series B1 round backed by MIT-backed venture fund and incubator The Engine. Prelude Ventures led the round, which also featured the Drawdown Fund, Acre Venture Partners, Refactor Capital, Blindspot, Closed Loop Partners, Knollwood Investment Advisory, Collaborative Fund and Thia Ventures. The Engine had previously backed Mori’s $16m series B round in April 2021, $12m series A in 2020 and $4m seed round in 2019.
Tidetron, a China-based synthetic biology technology developer exploiting research from Sun Yat-sen University, has raised hundreds of millions of yuan (RMB100m = $15.7m) in a series A-plus round featuring Legend Capital, the venture capital firm formed by conglomerate Legend Holdings, 36Kr reported yesterday. IDG Capital led the round, which included Unity Ventures and ZhenFund, and which took Tidetron’s total funding to more than $100m. It reportedly represents the company’s fourth funding round.
Robot Phoenix, a China-based industrial robotics developer, has closed a series D round worth hundreds of millions of yuan (RMB100m = $15.7m) in a round backed by Tsinghua University-backed venture capital firm THG Ventures. The round was led by Primavera Capital and also included CBC Capital and undisclosed investors, according to China Money Network. Robot Phoenix does not appear to have disclosed details about earlier funding rounds.
Daphne Technology, a Switzerland-based spinout of École polytechnique fédérale de Lausanne working on technology designed to reduce greenhouse gas emissions, yesterday added CHF4m from telecommunications firm Swisscom, One Creation and unnamed private investors to a round now sized at CHF14m ($14.8m). Shell Ventures and Saudi Aramco Energy Ventures – subsidiaries of oil and gas suppliers Shell and Saudi Aramco – had joined commodities trader Trafigura shipping firm AET Tankers in the round’s October 2021 first close.
AiM Medical Robotics, a US-based developer of MRI-compatible intra-operative robotics for neurosurgery, picked up $3.4m in seed funding yesterday backed by Worcester Polytechnic Institute. The round was co-led by IQ Capital and Surrey Capital Partners, with participation from co-development firm Triple Ring Technologies, the Lamport Family Office’s Lambda Fund and undisclosed existing shareholders.
Causeway Sensors, an Ireland-based pathogen detection nanotechnology spinout of Queen’s University Belfast, has raised more than £1.5m ($2m) in a round backed by tech transfer office Qubis, Silicon Republic reported yesterday. The round was led by Bank of Ireland’s Kernel Capital Growth Fund. Both investors had supported Causeway’s previous round, a $1.7m investment in 2018.
OW Smell Digital, a UK-based developer of technology to digitally recreate the sense of smell, has raised £1m ($1.3m) in a funding round led by Parkwalk Advisors, the fund management subsidiary of commercialisation firm IP Group. OW Smell Digital is a joint spinout of University of Sussex and University College London, and it will use the money to expand its headcount and to further develop its software and hardware.
EpiLab, a France-based portable tuberculosis test developer established by SATT Sayens, has raised €1m ($1.1m) in funding from public investment bank Bpifrance, financial institution CIC and angel investors. EpiLab plans to use the money to finalise the development of its test kit and conduct field studies in Togo and Benin.
Senteon, a US-based cybersecurity automation platform, has raised an undisclosed amount of seed financing from investors including Purdue University’s cybersecurity accelerator fund. The round was led by Valor Ventures’ Fund 2 and also attracted SaaS Ventures and Lytical Ventures.
Atarec, a Morocco-based renewable energy technology developer, has pocketed an undisclosed amount of seed funding from UM6P Ventures, the investment arm of Mohammed 6 Polytechnique University, according to Morocco World News. Atarec has created a system to produce electricity from waves.
Ionuva Innovations, an India-based disinfection technology developer, has been spun out of Hindu College, making it the first spinout from the institution according to the Telegraph India. Ionuva’s first product is a microwave-like device that uses ultraviolet-C tubes to disinfect objects placed inside. The company has already begun work on a second product, an air purifier.
– Additional reporting by Liwen-Edison Fu and Robert Lavine
