The Global University Venturing deal net rounds up the smaller investments from across the university innovation ecosystem.

Keelvar, an Ireland-based automation and optimisation software for enterprise procurement spun out of University College Cork, has raised $24m in a series B round led by 83North, the Irish Times reported yesterday. Venture firms Elephant, Mosaic, Paua and private investor Bastian Nomichacher also took part in the series B round, with the former three having previously supported an $18m series A round in 2020. Solithor, a Belgium-based solid-state battery technology developer, has received €10m ($10.5m) in a seed round led by Imec.xpand, the venture fund aligned with Imec. The round also included LRM, Nuhma and FPIM. It marks the final investment for Imec.xpand’s first fund. QDI Systems, a Netherlands-based developer of imaging devices relying on quantum dots for x-ray machines spun out of University of Groningen, has picked up €1.3m ($1.4m) in a funding round backed by Carduso Capital, the venture capital fund created by University of Groningen and University of Groningen Medical Center. The round was led by Maki.vc. QDI Systems previously pickled up an undisclosed amount of funding from Carduso Capital and RUG Holding in May 2021. Aston Particle Technologies, a UK-based dry powder coating technology spinout of Aston University, has raised £1m ($1.2m) in a funding round led by DSW Ventures, according to Insider. The company was spun out in 2016 and its technology enable the formulating of active pharmaceutical ingredients in a way that makes it possible to manufacture drugs that previously could not be produced effectively. OGI Bio, a UK-based biotech developer to automate the culturing of microbes at low cost, has procured £1m ($1.2m) in a funding round backed by Old College Capital, the investment arm of University of Edinburgh, and Qubis Innovation Fund, the investment vehicle for Queen’s University Belfast. The round also attracted Sapphire Capital Partners, Merleview Capital and Scottish Enterprise. OGI Bio is a spinout of University of Edinburgh. AdSkate, a US-based artificial intelligence-powered audience engagement platform, has secured $500,000 in a pre-seed round featuring Carnegie Mellon University’s VentureBridge program, according to the Pittsburgh Business Times. The round also included Innovation Works, 3 Points Rising Ventures, Quaker Capital and unnamed individuals. The company has now picked up $925,000 altogether, it said, including $300,000 obtained through a family and friends round.

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Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).