Sixents Technology, a China-based global navigation satellite system subsidiary of technology company NavInfo, picked up RMB620m ($98m) in a series B round on Monday from investors including Tsinghua University’s asset management arm Tsinghua Holdings Capital, according to DealStreetAsia. The round included CDH Wealth Management, Oriza Holdings’ Oriza Prior, Yufu Holding, Xinding Capital, China CITIC Bank and Pagoda Capital. Sixents previously raised $7m from telecoms firm China Telecom’s corporate venturing unit China Internet Investment Fund and Zhiwei Investment in April 2019. Internet group Tencent subsequently injected $19m in April 2020 in return for a 9.5% stake.
Paragraf, a UK-based graphene electronics producer spun out of University of Cambridge, officially closed a $60m series B round yesterday after a report a month ago suggested the spinout had raised the money. New Science Ventures led the round, which also included Parkwalk Advisors, the fund management arm of commercialisation firm IP Group, and IQ Capital. Five other investors – Amadeus Capital Partners, IQ Capital, Molten Ventures, British Patient Capital-managed Future Fund and In-Q-Tel – were also identified as investors in the round, confirming last month’s report. The cash has been allocated to bolstering international growth, research and development capabilities and manufacturing infrastructure.
NextRNA Therapeutics, a US-based non-coding RNA biotechnology developer exploiting Dana-Farber Cancer Institute research, launched yesterday with more than $56m in funding – split across a $9.3m seed round and a $46.8m series A round. Cobro Ventures and Lightchain Capital co-led the series A round, with participation from Circle Alternative Investments, Evans Capital, Jefferies, Rival Capital and Willett Advisors. It is unclear who provided the seed funding and no dates for the close of either transaction were given, although NextRNA had secured half of its series A round by January this year, according to a regulatory filing. NextRNA was founded in January 2021 and has so far produced one programme each in oncology and immunology. In addition to Dana-Farber’s Carl Novina and Kenneth Anderson, the founding research team also includes Robert Larger from Massachusetts Institute of Technology.
In Ovo, a Netherland-based agtech spinout of Leiden University, obtained €34m ($38.5m) in series B funding yesterday from investors including the university’s investment subsidiary Libertatis Ergo. The round was co-led by the European Investment Bank-backed European Circular Bioeconomy Fund and financial services firm ABN Amro, with additional contributions from venture capital firm VisVires New Protein, engineering consultancy Demcon and speciality chemicals company Evonik. Leiden University had first invested in the spinout in June 2014, supplying $271,000. In October 2018, In Ovo raised “several million” in a series A round co-led by Evonik’s investment arm Evonik Venture Capital and VisVires New Protein, with participation from Rabobank Leiden-Katwijk. The same two investors returned in March 2021 for a follow-up investment of undisclosed size.
Nebula Link, a China-based smart transport provider, has collected some RMB200m ($31m) in series B funding from a consortium including Tsinghua Holdings Capital, the asset management subsidiary of Tsinghua University, DealStreetAsia reported yesterday. The round featured highway construction company Anhui Transportation Holding Group’s investment fund, Anhui Guoyuan Venture Capital, and Hefei Industry Investment. Puhua Capital led a series A round of undisclosed size in December 2019, when Tianjin Venture Capital and ZUIG Investment also invested. DealStreetAsia further identified BAIC Capital, the investment unit of carmaker BAIC Group, as an existing shareholder but further details could not be confirmed.
Modulus, a Japan-based drug discovery technology developer, has received ¥2.34bn ($20.4m) in series C funding from University of Tokyo’s Innovation Platform and Keio University’s Innovation Initiative, in addition to financial services provider SBI Group, Jafco, Fast Track Initiative, Green Co-Invest Fund and Heights Capital Management. The round took the company’s overall funding to ¥5.86bn ($51m).
OPT Industries, a US-based 3D-printed nasal swap manufacturer spun out of Massachusetts Institute of Technology, has raised $15m in a series A round from investors including the institute-linked E14 Fund, TechCrunch reported yesterday. The round was led by Northpond Ventures and also included Crosslink Capital, the latter of which identified as a returning backer together with E14.
Social Good Foundation, a Japan-based crypto cashback platform, has secured ¥1.42bn ($12.3m) from Miyako Capital, a vehicle for Kyoto University.
Sourcemap, a US-based provider of end-to-end supply chain due diligence software, pocketed $10m in series A financing from the Massachusetts Institute of Technology Media Lab-operated E14 Fund and lead investor Energize Ventures. The capital will enable Sourcemap to grow its North American footprint and expand further in Europe.
Instrumens, a US-based flow sensor developer spun out of Princeton University, has secured $4m in a seed round featuring commercialisation firm IP Group and PeopleFund, it revealed on Monday. It is unclear when it obtained the money. Instrumens is working on nanosensors to measure, for example, temperature, velocity or humidity.
Vygo, an Australia-based student support app developer, has raised £1.5m ($2m) in funding from Australian Catholic University, Supercharger Ventures, Angel Investment Network and lead investor Sparkmind, UK Business Angels Association reported on Monday. The money will allow Vygo to expand throughout Europe. Vygo raised A$500,000 ($359,000) in a September 2018 round led by Larsen Ventures, with commitments from River City Labs, Muru-D and 10 angel investors.
Logpose Technologies, a Japan-based luggage transportation optimisation technology developer, has received ¥40m ($348,000) in seed funding from Weru Investment, a vehicle for Waseda University, and graphics processing unit manufacturer Fixstars.
– Additional reporting by Liwen-Edison Fu
