ZGT has raised $48m from Tsinghua Holdings Capital, CAS Star and others, while University of Cambridge spinout Colorifix has pocketed $22.7m.

Zhongshu Guoneng Technology (ZGT), a China-based compressed air energy storage technology spinout of Chinese Academy of Sciences, has pocketed $48m in pre-series A-plus financing led by Tsinghua Holdings Capital, a vehicle for Tsinghua University’s asset management arm Tshingua Holdings. The round included Chinese Academy of Sciences’ early-stage vehicle CAS Star, as well as Legend Star, a subsidiary of conglomerate Legend Holdings. Power plant operator China Three Gorges Corporation and department store chain owner Beijing Cuiwei Tower filled out the list of investors together with CMB International, Puhua Capital and Gaorong Capital.

Colorifix, a UK-based textile dyeing process developer spun out of University of Cambridge, picked up £18m ($22.7m) in series B financing on Friday from investors including tech transfer office Cambridge Enterprise. The round was led by fashion retailer H&M’s investment arm, H&M Co:Lab, and also included Sagana, Bombyx Growth Fund, PDS Ventures, Regeneration.VC and SynBioVen. Colorifix had picked…

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).