VW will invest $100m in QuantumScape and form a joint venture with the Stanford spinout to develop batteries for long-range electric vehicles.

If you are looking for proof that the university innovation ecosystem finds itself in an outstanding place at the moment, you may want to consider the fact that this month has already seen news about three initial public offerings. Aptinyx, a US-based neurologic disorder drug developer that emerged out of Northwestern University spinout Naurex, raised $102m when it floated on Nasdaq last week. Autolus, a UK-based cancer-focused biopharmaceutical spinout from University College London (UCL), went public by putting $150m in its coffers – a whopping $50m more than the company had originally targeted. And Forty Seven, a US-based oncology therapy developer spun out from Stanford University, filed for a $115m initial public offering earlier this month that will ensure the current IPO bonanza is going to continue. Forty Seven is unusual in that the company raised a $34.1m series A round only two years ago and closed a $75m series B just eight months ago – an incredibly fast turnaround from early-stage funding to exit, particularly for a healthcare company. But IPOs are just part of the story and Forty Seven is merely one of the latest success stories for Stanford. Another one is QuantumScape, a US-based developer of solid-state battery technology for long-range electric vehicles. QuantumScape raised $100m in funding on Thursday from carmaker Volkswagen (VW) and established a joint venture with the corporate to produce solid-state batteries at an industrial scale. One of the joint venture’s long-term goals is to create a production line by 2025. The investment, once it closes following regulatory approval, will make VW the largest automotive shareholder in QuantumScape. VW purchased a 5% stake in 2014 for an undisclosed amount, following a collaboration agreement signed in 2012. Founded in 2010, QuantumScape is working on solid-state battery technology. Such batteries are expected to be smaller and cheaper than current liquid lithium-ion batteries, while boasting higher capacity, faster charging and longer lifespans. The technology could prove transformational for electric vehicles – the VW e-Golf model currently manages up to 300 kilometres on a single charge, but a solid-state battery would theoretically boost that distance to nearly 750 kilometres. QuantumScape holds approximately 200 patents related to the technology. The spinout is being led by chief executive Jagdeep Singh, who has an MSc in computer science from Stanford University. Singh said: “Volkswagen is the world’s largest automotive manufacturer and leads the industry in its commitment to electrification of its fleet. We are thrilled to be chosen by Volkswagen…

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