Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Erbi Biosystems, a US-based microfluidics instrument technology spinout of Massachusetts Institute of Technology (MIT), has closed a $2m funding round, according to a regulatory filing. The round was led by angel fund Jaguar Biotech and brought the company’s lifetime funding to $3.8m, it said. It had previously secured $475,000 of equity funding in mid-2018. Founded in 2016, Erbi has devised a miniaturised bioreactor to perform biological analysis of cell culture. The spinout was co-founded by Rajeev Ram, associate director of the Research Laboratory of Electronics at MIT’s Materials Research Laboratory. Three units have already been sold to an unnamed customer in the biopharmaceutical industry. The capital will go to strengthening Erbi’s manufacturing, sales and customer support activities as it prepares product lines catered to cell and gene therapy programmes.
Haystack News, a US-based news streaming portal backed by university-allied venture unit Stanford-StartX Fund, has disclosed $2m in funding received…
