Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Inotec AMD, a UK-based wound healing technology spinout of University of Cambridge, has obtained £7m ($9.1m) led by Praetura Ventures with participation from Amadeus Capital Partners, Puhua Capital, Boundary Capital and a group of unnamed angel investors. Founded in 2005, Inotec AMD has developed a wearable device that helps repair wounds, including those caused by diabetes, venous ulcers and surgery, by administering pure humified oxygen to the affected area. The company will inject funding into pursuing growth in several international markets, including the US and Asia. Andy Round, director and life sciences specialist at Praetura Ventures, has joined the board of directors. Cambridge Enterprise supplied Inotec AMD with an undisclosed sum in 2012 through its second enterprise fund, while Amadeus Capital Partners invested in the business in 2016.
Source, a US-based commercial construction materials marketplace, has completed a $2.5m round featuring Oregon State University-backed fund Rogue Venture Partners, GeekWire reported on Friday. The round was filled out by Founders Co-Op, Rogue Women’s Fund, Revolution’s Rise of the Rest Seed Fund, MetaProp and unnamed angel investors. Founded in 2018 as Krowdsourced, Source runs an online marketplace and a physical retail outlet catered to commercial design and architecture firms in the western US. Customers can find products according to industry-specific parameters and will then be connected to the relevant sales representative. The cash will help Source open more physical outlets as it looks to extend its model into more US markets over the course of 2020.
