Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
8Power, a UK-based sensor technology spinout of University of Cambridge, closed a £2m ($2.7m) round yesterday involving Cambridge Enterprise, the university’s tech transfer office. Commercialisation firm IP Group also participated alongside merchant banking firm Turqoise’s Low Carbon Innovation Fund 2 and private investors including 8Power’s management. The spinout supplies real-time monitoring devices and software to help industrial clients manage assets such as pumps remotely. 8Power will now seek to grow its operation in the UK and Europe, including through links to government clients. It received $945,000 in 2016 from the university and its third co-investment unit, University of Cambridge Enterprise Fund III, managed by Parkwalk Advisors. Parkwalk is now owned by IP Group, which also invested in the 2016 round directly.
Synthara, a Switzerland-based edge processor developer spun out of UZH-ETH Institute of Neuroinformatics, raised an undisclosed seed amount from investors including University of Zürich (UZH) yesterday. Public-private partnership High-Tech Gründerfonds led the round, which was filled out by state-owned financial services firm Zürcher Kantonalbank and various angel investors. Synthara says its chip design will improve artificial intelligence-driven devices such as connected sensors by processing more functions from its on-board processor instead of the cloud. The capital will go to product development and expansion, with Synthara aiming to create at least 10 new high-tech jobs in Switzerland and Germany. UZH-ETH Institute for Neuroinformatics is a collaboration of UZH and ETH Zurich.
France-based Lamina Therapeutics spun out of University of Strasbourg and research institute Inserm yesterday to commercialise medical implants for repairing damaged tissue. Lamina hopes its device will be able to reconstruct bone and cartilage to treat conditions such as osteoarthritis. The company grew out of founding research undertaken by Nadia Jessel, a professor at University of Strasbourg who directs Inserm’s osteoarticular and dental regenerative nanomedicine unit.