17 March 2017
Deal net: 13 – 17 March 2017
The Global University Venturing deal net rounds up all the latest smaller deals and tracks emerging companies accessing university funds.
Author: Thierry Heles, editor
MassMutual Ventures and Nationwide Ventures, the respective corporate venturing subsidiaries of insurance firms Massachusetts Mutual Life Insurance and Nationwide Mutual Insurance Company, took part yesterday in a $4.6m round for Insurify, a virtual car insurance spinout of Massachusetts Institute of Technology. Undisclosed existing backers also joined the round. Insurify had previously received $2m in seed funding from Rationalwave Capital Partners in January 2016. (This news item comes via our sister site Global Corporate Venturing.)
KitoTech Medical, a spinout of University of Washington that has created wound-closing device using microstaples, has raised $525,000 from unnamed investors, according to Geekwire. The company has now secured $3.25m and will use the latest cash injection to fund the commercial launch of its device, called micromend.
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