Metaplanet invests in two biotechs and one aerospace company
Jaan Tallinn’s fund Metaplanet has invested in two US biotechs and one Canadian aerospace company.
The US biotech Kano Therapeutics raised $5M in a seed round from lead investors Engine Ventures and VSquared Ventures, with participation from Metaplanet and Taihill Venture.
Founded in 2021 in Cambridge, Massachusetts, by Floris Engelhardt and John Vroom, Kano Therapeutics is a spin-out of the Bathe BioNanoLab at the MIT Nucleic Acid Nanotechnology Laboratory. The company is developing gene-editing biomaterials. A new class of gene repair templates extends the ability of current gene editing techniques to correct longer stretches of DNA. The company’s solution is applicable to the development of treatments for genetic diseases, cancer, and others. The company currently has approximately 3,000 cell and gene therapies in active development.
A second startup is New York-based biotech Ancilia Bio, which has raised $4.2M led by Safar Partners, with participation from Psymed Ventures, Zubi Capital, and Spacecadet Ventures.
Founded in 2019 by Matthew Cummings and Alexandra Sakatos, Ancilia has developed the CoVE platform, which identifies and characterizes viruses. The company uses the function of CRISPR (gene editing technology based on a natural defense mechanism found in bacteria and single-celled microorganisms) on its EPIC platform to create live biotherapeutics and other beneficial microbial products that are immune to viruses. The company's technology can increase the potential for live bacterial products to be used in healthcare, industrial, agricultural, and other applications. Ancilla will use the investment to grow and scale its platforms and prepare for its next round of financing in late 2024.
Canadian aerospace company Perceptive Space has raised $2.8M. The pre-seed round was led by Panache Ventures with participation from Metaplanet, 7percent Ventures, Mythos Ventures, and AIN Ventures.
Founded in Toronto in 2022 by Padmashree Suresh, Perceptive plans to develop AI-powered space weather monitoring and forecasting software. According to the startup, its AI sensor fusion technology can provide forecasts that are ten times more accurate than current forecasts from government agencies, for example. Accurate space weather forecasting data is important for improving the safety of satellite operations. Space weather, including radiation, solar flares, and geomagnetic storms, poses significant risks to satellites, communications systems, and power grids.
The company plans to serve the space and defense markets in the U.S. and allied countries, with early commitments from satellite operators and launch service providers.
