“When you’re in the early stages of a gold rush, it makes sense to be the one providing the tools,” says Luc Henry, Co-Founder and CEO of Limula. The Biotech startup, which is today announcing a USD 6.8 million funding round, wants to play that role as an investment in Cell and Gene Therapy, a hugely exciting new area of medicine, continues to accelerate.

Over the last decade, several Cell and Gene Therapy products have been approved in the USA and Europe, offering hope to millions with life-threatening conditions. However, 98% of patients can't access these treatments due to complex and costly manufacturing processes.

Limula has raised USD 6.8 million to advance its automated cell therapy manufacturing solution. The seed round was led by LifeX Ventures, Verve Ventures, Zühlke Ventures, Oxford Seed Fund, Lichtsteiner Foundation, W.A. de Vigier Foundation, and a line-up of private investors who have been supporting Limula’s vision from its inception.

Founded in 2020 by Dr. Yann Pierson, Dr. Luc Henry, and Dr. Thomas Eaton, Limula aims to simplify cell therapy production with novel technology. Current methods are labor-intensive and expensive, making treatments inaccessible to many patients. Limula's solution combines a bioreactor and centrifuge in a single device, streamlining production and reducing costs. This scalable technology supports cell therapy providers from pre-clinical trials to commercial manufacturing.

                                
                  Limula Co-Founders: Luc Henry (CEO), Yann Pierson (CTO), and Tom Eaton (COO)

After proving the concept, Limula partnered with industry and academic groups, including the San Raffaele Telethon Institute for Gene Therapy in Italy, to refine its platform.

With the new funding, Limula will further develop its device to meet GMP (Good manufacturing practice) standards. Its technology promises to enhance the reach and accessibility of Cell and Gene Therapies, which have the potential to save millions of lives worldwide.

Limula participated in Venture Leaders Biotech in 2023, was ranked among the TOP 100 Swiss Startups in 2021 and 2023, and won the first stage of Venture Kick in 2018.

"ABC, the famous mantra of 'Always Be Closing,' transitioned into an 'Always Be Pitching' approach. In numerous networking events, you often have only the duration of an elevator ride to capture someone's interest. The journey served as excellent training for this skill, providing real-time feedback that was not only more candid but also more actionable compared to what we typically encounter in a Swiss context," highlighted Thomas Eaton, Co-Founder and CEO of Limula.

Additional Links
Limula's profile on Venture Kick

Correntics, a leader in global climate risk management, has secured a EUR 1.5 million Eurostar grant to develop advanced risk analytics for the agri-food sector. This initiative aims to help industry stakeholders anticipate and manage climate risks impacting their operations and supply chains.

The ICT startup will collaborate with the Danish weather technology company Cordulus, the Danish Technological Institute, and the EClim Group at the University of Zurich to create the platform. The platform will enhance Correntics’s existing climate-risk analytics software, integrating high-resolution weather models, crop-specific risk analysis, and supply chain shock modelling. Cordulus will provide hyper-local weather forecasting, while the Danish Technological Institute will offer statistical models to assess the impact of weather extremes on crops. The University of Zurich will develop a large language model-based recommendation system for actionable risk-mitigation strategies.

This EUR 1.5 million funded project aims to meet the growing demand in a market expected to exceed €6bn by 2030, driven by environmental supply chain risks, digitalization in the agri-food industry, and stricter sustainability regulations.

Correntics participated in Venture Leaders Cleantech in 2023 and was ranked in the TOP 100 Swiss Startups and won the final stage of Venture Kick in 2022.

“The Venture Kick program really kickstarted our journey at Correntics, allowing us to benefit from decades of entrepreneurship experience and a fantastic startup ecosystem. This empowered us to grow Correntics rapidly, obtain funding, and be selected for the Venture Leaders Cleantech team, which was the ideal start to our international product launch," commented Michael Gloor, CEO and Co-Founder of Correntics.

Correntics Co-Founders: CEO Michael Gloor and CTO Gaudenz Halter

Additional Links
Correntics' profile on Venture Kick Correntics wins CHF 150,000 to provide climate-risk analytics for global supply chains

Cowa Thermal Solutions, a pioneering Swiss startup in the field of sustainable energy storage, has announced the completion of its second investment round, raising CHF 1.9 million. This funding milestone was achieved with contributions from both new and existing private investors from Switzerland and the US. To accommodate the strong interest from the investor community, Cowa has also established a capital band, adding an extra CHF 600,000 for potential additional investors.

The new funds will be instrumental in pushing Cowa's technological innovations forward. With a focus on developing compact and sustainable energy storage solutions, the company is well-positioned to support the global transition to cleaner energy. The capital will enable Cowa to enhance its production capabilities and strengthen its distribution networks, ensuring that its innovative products can meet the growing market demand.

The decision to create a capital band reflects the high level of investor confidence in the Cleantech startup's mission and technological prowess. This additional financial flexibility will allow the startup to respond swiftly to market opportunities and continue its trajectory of growth and innovation.

Cowa won the final stage of Venture Kick in 2020.

"Venture Kick was crucial and supportive particularly in our early stages, providing continuous support by rigorously evaluating our business case from the outset, guiding our initial development on the market, and helping us concentrate on the essential aspects," commented Simon Maranda, CEO and Co-Founder of Cowa.

Additional Links
Cowa Thermal Solutions gets the first CHF 150,000 “Kicks” of 2020 Cowa Thermal Solutions' profile on Venture Kick

The ETH spin-off Eightinks has developed a new battery production process that is up to ten times faster and 30% more cost-effective than current methods. This breakthrough is based on a "multi-layer coating process" similar to techniques used in the paper and photo industries. This approach not only reduces costs but also improves battery energy density.

The company has successfully completed lab and test facility trials and is now set to build pilot plants after securing EUR 3 million in a Pre-Seed funding round. The round was led by Swiss fund Founderful, with Übermorgen Ventures, Angel Invest, another.vc, Venture Kick, the ETH Foundation, and various business angels. This investment sets Eightinks to bring its innovative battery production process to market, potentially revolutionizing the battery industry.

Eightinks won the final stage of Venture Kick in 2023.

Eightink’s team

Additional Links
eightinks wins CHF 150,000 to develop scalable manufacturing of next-gen lithium-ion batteries eightinks' profile on Venture Kick

Data centers are grappling with surging data volumes and energy use driven by AI and large language models like ChatGPT. Lightium's TFLN platform tackles these challenges by boosting communication bandwidth and slashing power needs. With speeds surpassing 1.6 Tb/s and lower energy consumption, it's set to redefine industry norms.

InnoSuisse has granted Lightium CHF 2.67 million to fast-track its Thin-Film Lithium Niobate (TFLN) platform's commercialization. This is pivotal for Europe's leadership in photonic tech, benefiting telecom and data centers amid rising data demands. Beta access to Lightium's foundry services is set for Q4 2024.

Lightium plans to transition its manufacturing to a commercial CMOS fab using the InnoSuisse funds, securing Europe's independence in next-gen photonic devices. Over the next nine months, it will fine-tune its manufacturing process and PDK specifications, paving the way for beta access to its TFLN platform by late 2024. This milestone underscores Lightium's dedication to cutting-edge photonic solutions.

Lightium won the first stage of Venture Kick in April. "We will use the Venture Kick funds to attend relevant tradeshows, improve our online visibility, and strengthen our IP portfolio," commented Frédéric Loizeau Co-Founder and Chief Revenue Officer of Lightium.


Lightium co-founders CEO Amir Ghadimi and Chief Revenue Officer Frédéric Loizeau

Additional Links
Lightium's profile on Venture Kick Startups developing next-gen photonic devices receives CHF 10,000

Climeworks' Mammoth project, initiated in June 2022, utilizes a modular design with 12 of 72 collector containers already in place. Scheduled for completion in 2024, Mammoth aims to capture up to 36,000 tons of CO2 annually using renewable energy sourced from geothermal partner ON Power in Iceland. The captured CO2 is then stored underground through a natural process facilitated by Carbfix.
 
Climeworks, drawing from seven years of field experience and processing nearly 200 million data points daily, enhances Mammoth's efficiency and performance. The company plans to leverage operational insights from Mammoth for future direct air capture projects, including megaton hub roll-outs targeted until 2030. Climeworks' involvement in US Department of Energy-funded initiatives, such as Project Cypress in Louisiana, highlights its commitment to global expansion and exploration of additional direct air capture and storage opportunities in Norway, Kenya, and Canada.

Climeworks participated in Venture Leaders China in 2017, was ranked among the TOP 100 Swiss Scale-ups in 2019 and TOP 100 Swiss Startups from 2011 to 2014, and won the final stage of Venture Kick in 2010.

Christoph Gebald on stage at TOP 100 Swiss Startup Awards

Additional Links
Climeworks raises CHF 600 million in equity funding to accelerate the direct air capture industry Climeworks' profile on Venture Kick

Light sheet microscopy offers a detailed glimpse into the intricacies of biological systems, right down to the level of individual cells. This gentle imaging method provides an unbiased observation of natural processes over time, enabling progress across scientific domains and enhancing our comprehension of biology, health, and disease.

The innovative Viventis LS2 Live light sheet fluorescence microscope offers multi-view and multi-position imaging, shedding light on life's complexities like never before. With its impressive spatio-temporal resolution and exceptional image quality, even for challenging samples, researchers can deepen their scientific insights and analyses.

Viventis Microscopy, in collaboration with the laboratory of Prisca Liberali at the Friedrich Miescher Institute in Basel, initiated light sheet microscope development in 2016. Since then, they have supplied these high-resolution instruments to leading research institutions across Europe, with Leica Microsystems offering worldwide support and service for all Viventis Microscopy products.

Viventis won the final stage of Venture Kick in 2019.


Viventis Microscopy's Co-Founders: Petr Strnad and Andrea Boni

Additional Links
Viventis Microscopy receives CHF 130,000 from Venture Kick Viventis Microscopy's profile on Venture Kick

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Alpibectir, a drug candidate developed through a joint effort by BioVersys, GSK, Pasteur Institute Lille and the University of Lille, is undergoing clinical trials for treating tuberculosis (TB). This innovative drug works in a completely new way and boosts the effectiveness of an existing antibiotic, ethionamide.

The current trials focus on patients with pulmonary TB in South Africa and are showing positive signs. The encouraging results have led BioVersys and GSK to expand their collaboration. They aim to develop Alpibectir for both lung and meningeal TB, bringing this potential treatment to patients faster.

This expanded partnership includes an investment by GSK in BioVersys. This, along with additional funding from existing and new investors, brings the total raised in BioVersys' Series C financing round to CHF 44.9 million. These funds will support the further development of Alpibectir and BV100, another promising antibiotic targeting highly resistant bacteria.

BioVersys participated in Venture Leaders China in 2016, was ranked among the TOP 100 Swiss Startups from 2011 to 2013, won the final stage of Venture Kick, participated in Venture Leaders Technology in 2008 and in the SIX IPO Academy.

"As a scientific founder, the educational programs that are organized and co-organized by Venturelab, such as the SIX IPO Academy, provide very valuable toolboxes that you need during your entrepreneurial path," stated Marc Gitzinger, Co-Founder and CEO of BioVersys.

CSO Sergio Lociuro, CEO Marc Gitzinger, and Chief Development Officer Glenn Dale

Additional Links
BioVersys' profile on Venture Kick BioVersys closes a CHF 24.2 million financing round to develop AMR medical pipeline Register for the SIX IPO Academy

The World Health Organization estimates around 374 million new cases of sexually transmitted infections (STIs) annually, including chlamydia, gonorrhoea, syphilis, and trichomoniasis. These infections often go unnoticed, fueling their rapid spread due to stigma and costly traditional tests deterring individuals from seeking examination. Left untreated, STIs can lead to severe health issues like neurological and cardiovascular diseases, pelvic inflammatory disease, and increased HIV risk.

Testmate Health, based at Biopôle, has developed an affordable, over-the-counter urine test for STIs, initially targeting chlamydia and gonorrhoea, major causes of infertility worldwide. Users collect a sample at home, receiving results within 30 minutes, eliminating the need for medical visits and ensuring privacy. Positive results prompt direct connection to healthcare professionals for consultation and prescription, offering a seamless experience from testing to treatment.

Funding led by RH Capital, along with Zürcher Kantonalbank, The Helm, Amboy Street Ventures, Lichtsteiner Foundation, DART Ventures, and Gaingels, will accelerate Testmate's product development, testing, and market validation. This represents a significant step in combating the silent epidemic, empowering people to manage their sexual health conveniently and confidently.

Testmate Health participated in Venture Leaders Medtech in 2023 and won the second stage of Venture Kick in 2020.

"Venture Leaders in Boston was a memorable experience. We came back to Switzerland not only with valuable knowledge and connections for our startups but also the priceless camaraderie we'd built among ourselves," highlighted Siew-Veena Sahi, CEO and Co-Founder of Testmate Health and Team Captain of Venture Leaders Medtech 2023.

Testmate Health's team

Additional Links
Testmate Health's profile on Venture Kick

Ikerian and its subsidiary, RetinAI U.S. Inc.— a leading developer of healthcare AI solutions for medical image and data management—announced the successful completion of its USD 6.18M Series A extension Financing round. Led by Topcon Healthcare, Inc.'s Corporate Venture Capital arm, this round saw participation from both new and existing investors, including Zürcher Kantonalbank (ZKB), the btov Industrial Technologies fund, Verve Ventures, and private investors.

The funding signals a turning point in the company's evolution, following a corporate restructuring initiated in 2023. Now operating under the name Ikerian, the company's subsidiary, RetinAI U.S. Inc., remains focused on the ophthalmology market.

With growing revenues and strategic collaborations in place, including with major pharma companies like Boehringer Ingelheim and Novartis, Ikerian is expanding its Real-World Evidence database across various eye diseases. Its recent launch of the RetinAI Discovery® Clinics platform in Europe stands for its commitment to AI-driven patient management solutions. This funding round brings the total equity raised to USD 11.66M, laying the foundation for further growth and expansion into new opportunities beyond ophthalmology as the company progresses into its Series B financing phase.

Ikerian was ranked among the TOP 100 Swiss Startups in 2018 and 2021, participated in Venture Leaders China in 2018 and Venture Leaders Life Sciences in 2017, and won the last stage of Venture Kick in 2017.

"Venture Leaders China offers an immersive, full-time program designed to decode the intricacies within the Asian giant. It has given us the contacts, the investors, the support, and the answers we needed to move forward with our plan. If you envision China as a key market for your startup and seek concrete validation, Venture Leaders is your definitive pathway forward!" highlighted Carlos Ciller, Co-Founder and CEO of Ikerian.

How did Venture Kick help you lay the foundation for your growth and today's achievement?
It was instrumental. Without Venture Kick, we wouldn't have received the visibility that brought us in touch with early investors in the first 6 months as a startup, nor the validation/testing necessary to succeed after the first year. The feedback was critical to improving our thinking, and the visibility was key to getting ourselves into the Venture Leaders in Boston in 2017, without which I wouldn't have met our first angel investor. It was a cascade of events, but we are here today in part because of that opportunity to shine, be tested, and learn from constructive feedback.

You also participated in Venture Leaders; how did it leverage your fundraising strategy?
Venture Leaders allowed me to learn about Boston and China, be exposed to a new environment, meet new investors, and make contacts that are still critical to our business today. We also opened an office in Boston 2 years ago, and learning about the healthcare ecosystem in the US and how to operate in the US market started with Boston as the cornerstone. We met our first angel investor at the startup evening event before leaving for Venture Leaders Boston!
 

Ikerian's Co-Founders: CEO Carlos Ciller, CTO Stefanos Apostolopoulos, and CSO Sandro De Zanet

Additional Links
Ikerian's profile on Venture Kick