Every day, Global University Venturing rounds up investments from across the university innovation ecosystem in its deal net.
Vision Medicals, a China-based gene-sequencing technology developer backed by Chinese Academy of Sciences, has raised RMB300m ($47m) in a series D round featuring internet and gaming group Tencent, DealStreetAsia reported today, citing a company statement. Boyu Capital, CDH Venture and Growth Capital, a vehicle for alternative asset management firm CDH, also took part in the round. Cash Capital, an investment vehicle for Chinese Academy of Sciences, was among the investors in a $30.9m series C round in February 2021.
Swimm, an Israel-based software documentation platform, has raised $27.6m in a series A round featuring TAU Ventures, the commercialisation arm of Tel Aviv University. Insight Partners led the round, with commitments from Dawn Capital and Pitango First. The latter previously led a $5.7m seed round in January 2021, when TAU Ventures, Axon Ventures, FundFire and assorted angel investors also contributed.
Xtend, a US-based drone system developer, has secured $20m in a series A round featuring TAU Ventures, the commercialisation arm of Tel Aviv University. The round was led by Chartered Group and also included Lool ventures, I3 Equity Partners, TPY Ventures, Surround Ventures, Homeward Ventures, NFX and Top Ventures.
Machina Labs, a US-based artificial intelligence and robotics developer for advanced manufacturing applications, has emerged from stealth with $16.3m in series A financing backed by University of California-linked Congruent Ventures. The round was led by Innovation Endeavors and also included Embark Ventures.
Charco Neurotech, a UK-based medical device developer working on a product that reduces Parkinson’s symptoms, has raised $10m in a seed round co-led by Parkwalk Advisors, the fund management subsidiary of commercialisation firm IP Group, and Amadeus Capital Partners. The round also included University of Tokyo’s Edge Capital Partners unit, as well as Mint Venture Partners and existing investors including Crista Galli Ventures. Charco previously raised $680,000 in funding from investors including the Imperial College Investment Fund in February 2021. You can learn more about the company and Imperial’s investment strategy in the cover story of our July 2021 magazine.
Forest, a Japan-based e-commerce aggregator focused on helping domestic brands expand internationally, secured $8m in a seed round co-led by University of Tokyo’s Edge Capital Partners and Nordstar Partners today, according to TechCrunch.
Sufresca, an Israel-based developer of an edible, biodegradable coating to keep fruit and vegetables fresh that was spun out of Hebrew University of Jerusalem, has completed a $3.5m seed round led by OurCrowd VC, with participation from FEAT Investments and unnamed others, according to Israel Hayom. The round closed “recently” and Crunchbase suggests it was raised in September 2021, but the deals database did not provide a source confirming that claim. Sufresca previously raised a total of $1.3m, including $500,000 in seed funding from venture capital firm Rimonim in December 2019.
Ascribe Bioscience, a US-based developer of crop protection technology spun out of Cornell University, has raised a $2.5m seed round co-led by The Yield Lab and Acre Venture Partners. The deal also featured Trailhead Capital and Ponderosa Ventures.
Teal Bio, a US-based medical device developer focused on respiratory conditions, has raised almost $2.5m in a series A round led by Caligan Partners. Teal Bio was co-founded by researchers hailing from Massachusetts Institute of Technology, Harvard University, University of Iowa Health Care and Mayo Clinic.
CareerFairy, a Switzerland-based spinout of ETH Zurich that has created a live-streaming platform for student recruitment, has collected CHF1.7m ($1.8m) in seed financing led by postal service Swiss Post, according to Startupticker. VC firm BackBone Ventures also participated in the round along with undisclosed angel investors.
Kiutra, a Germany-based spinout of Technical University of Munich developing cooling devices for use in quantum computing research, raised a mid-seven figure amount of euros (€1m = $1.1m) yesterday in a series A round co-led by Trumpf Venture, the corporate venturing subsidiary of industrial manufacturer Trumpf. The round was co-led with Verve Ventures and included High-Tech Gründerfonds, Apex Ventures and Initiative for Industrial Innovators, the three having combined to supply a seven-digit amount for the company in May 2019.
Net AI, a UK-based telecoms network monitoring technology spinout of University of Edinburgh, has confirmed it raised £750,000 ($1m) in pre-seed funding from investors including university venture fund Old College Capital, according to UKTN. Techstart Ventures led the round, which also included Nauta Capital, Creator Fund and Edinburgh Technology Fund. Net AI was spun out last month but at the time did not reveal details about the round.
BitLyft, a US-based cybersecurity technology producer backed by Michigan State University Foundation’s Red Cedar Ventures, has raised $1m in a round led by NY Technology Capital, with participation from Partners III, Michigan Angel Fund and Gibbs City Investments. It is unclear when exactly Red Cedar Ventures invested in the company.
Antegenes, an Estonia-based developer of genetic tests to prevent cancer based on research at University of Tartu, has secured €500,000 ($562,000) in funding from health technology producer Everything Genetic. The equity financing forms part of a strategic partnership agreement to launch Antegenes’ tests in the UK.
X4C, a Belgium-based spinout of Université libre de Bruxelles (ULB) working on surface coating technology, has secured €500,000 ($562,000) in funding from Innovation Fund, a vehicle linked to ULB’s venture fund Theodorus, and Sambrinvest, according to L’Echo. X4C had previously raised €362,000 altogether, the report said without confirming details
Somalytics, a US-based developer of a miniature, paper carbon nanotube capacitive sensor for consumer applications, has been spun out of University of Washington through a partnership between the institution’s commercialisation arm CoMotion and IP Group.
– Additional reporting by Fernando Moncada Rivera and Robert Lavine
