Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Octarine, a Denmark-based synthetic cannabinoid and psychedelic chemicals producer spun out of University of Copenhagen and Technical University of Denmark, has closed a seed round of undisclosed size led by government-backed Danish State Growth Fund (also known as Vækstfonden). The round featured Óskare Capital – co-founded by former Mercia fund manager Nicola Broughton – as well as investment company Enexis and angel investor Bruce Linton. Octarine will use the proceeds for pre-clinical work on cannabinoid derivatives for therapeutic applications, and to invest in manufacturing for pharmaceutical-grade psychedelics. Octarine has now obtained over $1.8m to date, including a pre-seed round of undisclosed size reportedly backed by Danish State Growth Fund earlier in 2020.