Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Newomics, a US-based molecular detection technology spun out of Lawrence Berkeley National Laboratory, closed a $7.9m series B round yesterday backed by Berkeley Catalyst Fund, the investment vehicle for University of California, Berkeley. The round was led by MSA Capital and was filled out by LDV Partners and Photon Fund. Newomics is working on precision medicine techniques using mass spectrometry to integrate multiple areas of biochemistry – an approach known as multi-omics. The series B cash will go to product, sales, customer support and industry collaborations. Newomics closed a $3.9m series A round in mid-2018 led by Photon Fund that included Berkeley Catalyst Fund.
VisiSonics, a US-based 3D sound technology developer, has closed a $3.5m round backed by Maryland Momentum Fund, the university venture fund for University System of Maryland, Technical.ly reported yesterday. The spinout was founded by Ramani Duraiswami, a professor of computer science, in 2011 and provides spatial audio technology for applications such as virtual reality and entertainment. Maryland Momentum Fund put up $500,000 for the financing round, however the other investors were not disclosed.
SageTech Medical Equipment, a UK-based anaesthetic gas capture and recycling platform producer, has raised £1.3m ($1.7m) of pre-series A funding from investors led by EMV Capital, a subsidiary of commercialisation firm NetScientific, Alliance News reported on Monday. The round was also backed by unnamed existing investors. John Clarkson, chairman of NetScientific, will join the board of directors.
