Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Quaise, a US-based precision geothermal drilling technology spinout of Massachusetts Institute of Technology (MIT), has obtained $6m in a seed round led by MIT-aligned tough tech fund and incubator The Engine that also included venture firm Collaborative Fund and private investor Vinod Khosla. Quaise has devised a deep drilling method for extracting geothermal energy produced and stored within the interior of Earth. The technique relies on a gyrotron to produce millimetre-scale electromagnetic waves, facilitating drilling at subterranean depths ranging from 10 to 20 kilometres. Paul Woskov, senior research engineer at MIT, is credited with having invented the technology. The funding will support Quaise’s development, recruitment and collaboration plans.
Qkine, a UK-based biomedical protein producer spun out of University of Cambridge, closed a £1.5m ($1.9m) series A round featuring Cambridge Enterprise, the university’s tech transfer office. Parkwalk Advisors, the fund management arm of commercialisation firm IP Group, and Martlet Capital,…
