Cell sorting technology business Thinkcyte has closed an OUVC-backed series A round intended to progress its joint research and unlock an expansion into the US.

Thinkcyte, a Japan-based high-speed cell sorting technique developer, extended its series A round to ¥1.65bn ($15.4m) on Friday after raising an undisclosed sum from investors co-led by diversified trading group Itochu’s corporate venturing unit Itochu Technology Ventures.
Mirai Creation Fund – a venture capital fund backed by carmaker Toyota and financial services firm Sumitomo Mitsui Banking Corporation – and leasing services provider Fuyo General Leasing co-led the round.
Osaka University Venture Capital, the institution’s venture arm, and Real Tech Fund – a unit formed by biofuel supplier Euglena – both returned for the second close, having already contributed to an initial tranche in 2019 alongside financial services firms SBI Group and Sumitomo Mitsui Financial Group’s SMBC Nikko unit, as well as research firm Leave a Nest.
Founded in 2016, Thinkcyte is working on a biological imaging technique called ghost cytometry that relies on fluorescence to depict samples without using dedicated resolution detectors to establish the image’s detail and quality.
Thinkcyte’s technology is intended to facilitate high-speed cell sorting – the process of extracting and categorising biological cells – in fields such as regenerative medicine, drug discovery and medical diagnosis.
Ghost cytometry is also described as potentially enabling therapies for future coronavirus-type diseases. The funding is expected to support Thinkcyte’s joint research activities, with clients such as pharmaceutical firms, medical device makers and research institutes.
Proceeds will additionally fund recruitment as the company looks to capitalise on potential product demand in the US.
– This article was amended on June 1 to correct the company name, which had been erroneously reported as ThinkSite due to a translation error from Japanese. We apologise for the confusion.