Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Sense Biodetection, a UK-based molecular diagnostics technology developer, has raised $15m in a series B extension that brought the round’s total to $65m. Koch Disruptive Technologies (KDT), the investment arm of industrial and chemicals group Koch Industries, led the extension having already led the initial $50m tranche in April 2021, when patient capital fund Cambridge Innovation Capital (CIC), Mercia Asset Management, Earlybird’s Health Tech Fund and Jonathan Milner also invested.
Sandbox VR, the US-based operator of a chain of virtual reality gaming centres backed by Stanford University, has secured $37m in funding from investors including e-commerce group Alibaba, according to VentureBeat. The round was led by Andreessen Horowitz, included fellow venture capital firm Craft Ventures and increased the company’s overall funding to $105m. Alibaba and Andreessen Horowitz joined Stanford University, Floodgate, CRCM Ventures and TriplePoint Capital to supply $68m in series A funding in January 2019 and returned for an $11m bridge round nine months later.
Beacon Biosignals, a US-based neurotechnology developer based on research at Harvard University and Massachusetts Institute of Technology, has raised $27m in an oversubscribed series A round led by General Catalyst, with participation from Casdin Capital, angel investors and unnamed existing backers. Founded in 2019, Beacon Biosignals will use the fresh funding to pursue additional partnerships and build on existing ones with corporates including Novartis. The company has now raised $30m altogether, it said.
Variantyx, a US-based precision medicine developer spun out of Tel Aviv University, has raised $26m in a series C round backed by Robert Bosch Venture Capital, the investment arm of industrial technology producer Robert Bosch. Variantyx has now raised $53m altogether, $20m coming in a March 2021 series B round led by GHS Fund and backed by IBM Ventures on behalf of computing technology provider IBM in addition to Pitango Venture Capital, New Era Capital Partners and 20/20 HealthCare Partners.
Novlead Biotech, a China-based developer of nitric oxide-focused medical devices spun out of University of Michigan, has secured RMB120m ($18.8m) in a series B round led by Lilly Asia Ventures, an investment vehicle for pharmaceutical firm Eli Lilly, according to DealStreetAsia. The round also included 3E BioVentures and Northern Light Venture Capital, the latter having reportedly taken part in a series A round for the company in early 2021 in the seven-figure dollar range.
QuEra Computing, a US-based quantum computing technology developer, has emerged with $17m in funding to commercialise research pioneered at Harvard University and Massachusetts Institute of Technology. Investors in spinout include e-commerce firm Rakuten, Day One Ventures, Frontiers Capital and private investors including Serguei Beloussov and Paul Maritz.
Signos, a US-based creator of a mobile app that uses blood glucose data to give personalised weight loss advice backed by Tel Aviv University, has secured $13m in a series A round led by GV, a corporate venturing subsidiary of internet and technology group Alphabet, according to TechCrunch. Courtside Ventures had led a $4m seed round in January this year that also featured Tel Aviv University’s TAU Ventures and 1984 Ventures, Signos co-founder and CEO Sharam Fouladgar-Mercer told TechCrunch.
Chameleon Biosciences, a US-based gene therapy developer, has completed an $11.1m seed round led by Matrix Partners China. Chameleon Biosciences is a portfolio company of University of California (UC), Berkeley’s accelerator SkyDeck, and received $100,000 when it participated in the programme in 2018.
Sevensense Robotics, a Switzerland-based developer of artificial intelligence and 3D vision robotics technology spun out of ETH Zurich, has raised $7.7m in a series A round led by power and automation equipment producer ABB’s investment arm ABB Technologies Ventures unit yesterday.
Tympany Medical, an Ireland-based endoscopy surgery technology spinout of National University of Ireland, Galway, has secured €3.5m ($3.9m) in seed funding led by Atlantic Bridge’s University Bridge Fund, according to the Irish Times. The round featured Mayo Clinic Ventures, the corporate venturing vehicle for medical care and research provider Mayo Clinic, as well as Ascentifi, Western Development Commission, Enterprise Ireland, Xenium Capital and undisclosed angel investors.
Ricos, a Japan-based developer of artificial intelligence and simulation technology, raised ¥300m ($2.6m) in series A funding last month from and University of Tokyo’s Edge Capital Partners vehicle and internet company Digital Garage’s DG Ventures subsidiary, it has revealed. The capital will be channelled into research, product development and recruitment.
Runway, the US-based developer of a mobile app optimisation tool, has secured $2.1m in a funding round TechCrunch reported included Harvard University through its endowment Harvard Management’s Seed Capital vehicle. Telecommunications and internet group SoftBank’s SB Opportunity Fund also contributed to the round, which was led by Bedrock Capital and also featured Chapter One Ventures, Array Ventures, Breakpoint Capital and – according to TechCrunch – Liquid 2 Ventures, Four Cities and unnamed angel investors.
Grancers, the Japan-based operator of back-office outsourcing service Support+iA, has secured ¥150m ($1.3m) from Keio Innovation Initiative and Gree Ventures, respective investment units of Keio University and digital media group Gree, as well as unnamed private investors.
Deep Detection, a Spain-based developer of an x-ray camera using deep learning technology to continuously monitor high-speed manufacturing processes, has obtained €1m ($1.1m) in funding from Vigo Ventures, Clave Capital and ESOM. The round included public financing, although details were not disclosed. Deep Detection is a spinout of Institute de Fisica d’Altes Energies, established by Universitat Autònoma de Barcelona and the government of the Autonomous Community of Catalonia.
Riverfield, the Japan-based creator of a surgery robotics system that utilises pneumatic pressure, has raised an undisclosed amount from Mitsubishi UFJ Capital, which invests on behalf of Mitsubishi UFJ Financial Group. Riverfield is a spinout of Tokyo Institute of Technology and Tokyo Medical and Dental University, and it had secured $27.3m from engineering group Toray, insurance firm Dai-ichi Life, medical supplies provider Medipal Holdings’ Medipal Innovation unit and SBI Investment, part of financial services provider SBI, in September this year, taking its total funding to over $49m.
Rera Tech, a Japan-based wind condition observation and analysis technology developer spun out of Kobe University, has secured an undisclosed amount of equity funding from the institution’s Kobe University Innovation fund and debt financing from Kobe Shinkin Bank and Japan Finance Corporation.
Additional reporting by Robert Lavine and Liwen-Edison Fu.
