In-Part collaborates with investors for $1.2m

In-Part, the UK-based operator of a matchmaking portal linking university research with potential industry partners, has obtained £950,000 ($1.2m) in a round involving Northern Powerhouse Investment Fund (NPIF).
NPIF, a northern England-focused vehicle funded by UK and EU government bodies under the management of Mercia Equity Finance, led the round with a $967,000 commitment. The remaining $258,000 was supplied by two unnamed private investors.
Founded in 2014, In-Part runs a matchmaking platform that relies on computer algorithms to connect industry research and development teams with expertise from more than 220 universities and research institutes, facilitating partnerships to create new products, drugs and technologies based on academic innovations.
The algorithms calculate alerts specifically tailored to the industry client’s requirements, and In-Part can collect data across interactions on its platform to build an overview of overall academic-industry trends and engagement.
In-Part claims to have facilitated more than 5,000 academic-industry interactions since launching in 2014, prompting deals ranging from licensing agreements to grants for collaborative projects.
The latest capital injection will allow In-Part to expand its workforce, which currently consists of 28 employees based at offices in Sheffield and London, as it targets business growth internationally.
Thomas Jørgensen, co-founder of academic research management software platform Pure, will become chairman of In-Part’s board of directors, while Nicola Broughton, head of universities at Mercia Technologies, will also join the board as part of the deal.
In-Part previously attracted approximately $516,000 in a 2016 seed round that included $443,000 from Mercia Fund Management’s University Growth Fund.
Broughton said: “Universities have been responsible for some of the biggest breakthroughs in modern times and In-Part is helping to transfer university technology across the globe. This latest funding will allow it to build its presence in the international marketplace and replicate the significant success it has enjoyed in the UK.”