Advemto Successfully Closes First Capital Raise
The newly formed company spun-out from Wellington UniVentures has successfully closed their pre-seed venture capital investment round led by Matū Karihi Fund. Joining Matū are Quidnet Ventures, SIP Innovation, Booster Innovation Fund, and Exponential Founders Fund. The $1.05M investment will support the company’s technological development and launch to customers in international academic and research institutions.
Advemto is a photonics system company that has developed unique complete turnkey solutions for ultrafast spectroscopy. Time-resolved spectroscopy is widely used across a range of disciplines and industries, from academic research to commercial and industrial applications in chemicals, biological, pharmaceutical, optical, and electronics development and manufacturing. The technology seeks to address weaknesses in currently available instrumentation in the market, providing improved speed, sensitivity, reliability, and analysis. As a turnkey system, Advemto is further reducing the barriers to next generation research in areas such as materials, energy, environmental sciences, healthcare, and much more.
The technology is developed out of specialist research spearheaded by Dr Kai Chen and Professor Justin Hodgkiss in the Ultrafast Spectroscopy Lab at Te Herenga Waka Victoria University of Wellington and the MacDiarmid Institute. They are joined by Peter Lai as CEO and Ronnie Tamming in the initial team, which will grow as the company expands to different geographies. The investors look forward to working closely with the team to guide their development across a range of academic and industrial areas.
About Matū Karihi Fund – Matū is a venture capital fund investing in early-stage science and technology commercialisation from education and research institutions and the private sector. As an open and evergreen fund, Matū takes a long-term investment view and is aimed at turning ground-breaking ideas into globally focused, IP-rich companies. Matū provides intelligent capital with active governance, executive management, operational support, and mentorship for founding and executive teams: www.matu.co.nz
About Quidnet Ventures - Quidnet Ventures is an early stage fund investing in New Zealand-based founders building impactful companies. Quidnet Ventures focuses on taking New Zealand innovation to the world and takes an active role in helping its portfolio companies succeed by leveraging its team’s global, multi-sector network as its portfolio companies position themselves to enter international markets. Quidnet Ventures provides unrivalled access to a global network across academia, government affairs, venture capital, and industry. www.quidnetventures.com
About SIP Innovation - SIP Innovation is the New Zealand arm of Suzhou Industrial Park, focused on facilitating academic and professional exchange opportunities, and providing commercial, industrial, and cultural pathways for New Zealand companies to engage with Chinese markets.
About Booster - Booster is one of the six government-appointed default KiwiSaver scheme providers with over 170,000 investos and $5 billion under management across KiwiSaver, Superannuation and Investment Schemes. Booster has a focus on supporting New Zealand businesses through specialist investment funds including the Booster Innovation Fund and the New Zealand Innovation Booster, which help Kiwis share in the success of innovative research and IP development by investing in the commercialisation of early-stage technologies coming out of New Zealand. www.booster.co.nz
About Exponential Founders Fund - Exponential Founders Fund is an early-stage fund investing in innovative technologies across Aotearoa New Zealand. Exponential Founders Fund has a strong interest in supporting founders and growing their capabilities as promising and confident leaders. www.danielbatten.co/exponential-founders-fund