3D Imaging System Innovator GelSight Raises $10M in Series B Funding Round

Aviation Executive David Hurley, US Navy Vice Admiral David Buss (Ret.), US Air Force Lieutenant General Judith Fedder (Ret.) join Board of Directors

WALTHAM, Mass., Jan. 24, 2020 /PRNewswire/ — GelSight, the developer of industrial 3D imaging solutions for the aerospace, automotive, and other electronics industries, today announced that it has raised $10 million in new funding. The Series B round was led by industrial technology-focused venture capital firm Anzu Partners. The funding will be used to accelerate GelSight’s growth as adoption of its unique elastomeric-based imaging system gains deeper traction with major aerospace customers around the globe.

“GelSight’s handheld systems enable dramatic improvements to conventional inspection and quality processes, and we are seeing broader use among the world’s leading aerospace and automobile manufacturers,” said Kimo Johnson, Chief Executive Officer of GelSight. “We are excited to have the backing of Anzu Partners to help us take our commercialization and product development efforts to the next level, expanding into other major aircraft manufacturers and aircraft maintenance operations here in the United States and abroad.”

GelSight Mobile™, the company’s flagship device, is a handheld instrument that precisely and repeatably visualizes and measures the 3D topography of any surface in seconds, revealing microscopic structures that are impossible to precisely assess in real time. GelSight’s proprietary elastomeric sensor conforms to the surface topography of any material, including metals, composites, and glass to reveal the features of the surface regardless of ambient lighting conditions or material reflectivity. The GelSight Mobile system gives instant visual feedback along with position, depth, and other surface measurements with high spatial resolution down to the micron level.

Rolls-Royce, an early adopter of the technology, is actively deploying GelSight Mobile, validating critical aerospace applications.

“We have integrated GelSight Mobile™ into a number of our global value streams where the technology has proven its value very quickly,” said Alistair Donaldson, Transformation Executive – Head of Innovation and New Product Design at Rolls-Royce. “We are pleased to be supporting GelSight in their growth journey and look forward to working together on the future roadmap of GelSight products and services.”

In connection with this significant financing, GelSight attracted aviation executive David Hurley, US Navy Vice Admiral David Buss (Ret.), and US Air Force Lieutenant General Judith Fedder (Ret.) to join its Board of Directors. Mr. Hurley previously served as Chairman of the National Air and Space Museum Board and is the former Chief Executive Officer of business aviation group PrivatAir. As a Vice Admiral, Mr. Buss served as the Commander of the Naval Air Forces, or the Navy’s “Air Boss”. As an Air Force Lieutenant General, Ms. Fedder served as the Deputy Chief of Staff for Logistics, Installations, and Mission Support at the Pentagon.

Longtime company advisor Pierre Villeneuve, PhD has also joined the company’s Board. Dr. Villeneuve is the cofounder of Equity Management Partners and has over 25 years of experience as a senior business executive and scientist.

“Mr. Hurley, Vice Admiral Buss, and Lieutenant General Fedder bring unmatched knowledge and experience in commercial and military aviation,” said Dr. John Ho, GelSight Board Member and Partner at Anzu Partners. “We are honored that they have joined GelSight’s Board, along with Dr. Villeneuve, to help bring its breakthrough technology to worldwide aviation.”

For more information about GelSight and its product offering, please visit: https://gelsight.com.

About GelSight
GelSight develops portable, non-destructive elastomeric 3D imaging systems used to improve quality control processes in aerospace, automotive, and other high-value industries. For more information, please visit: http://www.gelsight.com.

About Anzu Partners
Anzu Partners is a venture capital firm that invests in breakthrough industrial technologies. Anzu teams with entrepreneurs to develop and commercialize technological innovations by providing capital and deep expertise in business development, market positioning, global connectivity, and operations. For more information, please visit https://anzupartners.com. On Twitter: @anzupartners.

CONTACT
Rob Haralson for GelSight
(202) 674-6679, rhh@anzupartners.com

SOURCE GelSight

Related Links
https://gelsight.com

Anzu Partners Completes Raise of its Second Venture Capital Fund at $190M

Oversubscribed fund exceeds original target of $150 million for breakthrough industrial technology investments; John Ho, PhD, promoted to Partner

January 23, 2020 — Anzu Partners, a venture capital and private equity firm that invests in breakthrough industrial technologies, today announced that it has successfully completed fundraising for its second venture capital fund, Anzu Industrial Capital Partners II L.P. and AICP II Limited, at $190 million USD (Anzu Industrial Fund II). Similar to Anzu’s first fund, which closed in December 2017 at $128 million USD, Fund II is investing primarily in U.S. and Canada-based private industrial technology companies that innovate in manufacturing, materials, monitoring & measurement, and modeling.

Anzu Partners’ senior leadership comprises Managing Partners David Michael, David Seldin, Whitney Haring-Smith, and John Ho, PhD, who has been promoted to Partner. The Anzu professional team of 36 staff includes eight PhDs in technical disciplines. The fund’s investors include institutions, family offices, and individuals across the U.S. and overseas. The firm has offices in Boston, MA, San Diego, CA, Tampa, FL, and Washington, DC.

“We are delighted that the support of our investor community has allowed us to close our second fund well above our original target,” said David Michael, Managing Partner. “We have a relentless focus on the breakthrough technologies that will enable tomorrow’s industries. Within this theme we continue to see a strong pipeline of investment opportunities, and we aim to be the investor of choice for the best early stage companies in these areas.”

As part of Fund II, Anzu recently made investments in:

  • BioSkryb (Durham, NC) – BioSkryb develops genomic amplification technologies that deliver higher coverage and fidelity for various gene sequencing applications, such as single cell genomics.
  • Boston Microfluidics (Cambridge, MA) – Boston Microfluidics develops simple and intuitive blood collection devices designed to enable personalized medicine worldwide.
  • GelSight (Waltham, MA) – GelSight develops portable, non-destructive elastomeric 3D imaging systems used to improve quality control processes in aerospace, automotive and other high-value industries. Its systems provide detailed and rapid surface measurements through a technology originally invented at MIT.
  • immunoSCAPE (Singapore) – immunoSCAPE provides a proprietary immune profiling solution, focused on high-dimensional profiling of T-cell populations by antigen specificity and phenotype, for use in the development of immunotherapies and therapeutic vaccines, and as a companion diagnostic.
  • NTX Bio (Santa Fe, NM) – NTX Bio develops a cell-free process to produce biologics of high purity, stability, and low cost. The firm has the world’s first fully recombinant cell-free system based on thermophile strains and using continuous flow bioreactors.
  • Sofregen (Medford, MA) – Sofregen is developing an advanced platform of products based on silk protein – also known as fibroin – that has been shown to have unique properties for tissue support and regeneration.
  • Solchroma Technologies (Somerville, MA) – Solchroma builds full color, reflective digital displays for the smart cities of the future. Its proprietary system produces a vivid, dynamic, and reflective display that does not require an internal light source and consumes only 1% of the energy of existing LED-based displays.

Dr. John Ho has been promoted to Partner after joining the firm in 2016. John received his PhD from the Massachusetts Institute of Technology (MIT) and was instrumental in leading investments in Fund I and Fund II companies, including 6K, GelSight, NTX Bio, OTI Lumionics, Solchroma, TeraPore, and Zeteo Tech. John spearheaded the development of Anzu’s presence in greater Boston, where the firm recently opened a 17,000 sq. ft. integrated R&D, manufacturing, and flexible office space for its portfolio companies.

To learn more about Anzu Partners, Anzu Industrial Fund I and II, and its portfolio companies, please visit https://anzupartners.com.

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About Anzu Partners
Anzu Partners is a venture capital and private equity firm that invests in breakthrough industrial technologies. Anzu teams with entrepreneurs to develop and commercialize technological innovations by providing capital and deep expertise in business development, market positioning, global connectivity, and operations. For more information, please visit https://anzupartners.com. On Twitter: @anzupartners.

Disclaimer
Anzu Partners is providing this press release for informational purposes only. This is neither an offer to sell nor a solicitation for an offer to buy an interest in any fund managed by Anzu Partners. The interests in the Anzu Industrial Fund have not been recommended, approved or disapproved by the U.S. Securities and Exchange Commission (SEC) or by the securities regulatory authority of any state or of any other U.S. or non-U.S. jurisdiction, including but not limited to Canada, nor has the SEC or any such securities regulatory authority passed upon the accuracy or adequacy of this document. Investment in any security involves substantial risk. This press release only provides a partial list of the investments made by Anzu Industrial Fund and does not purport to list all investments made by, or that will be made by, it. Anzu Partners is under no obligation to update any of the information set forth herein. Additionally, no guarantee is being given that any investment recommendation made by Anzu Partners will be profitable. This press release includes forward-looking statements that represent Anzu Partners’ opinions, expectations, believes, intentions, estimates, or strategies regarding the future, which may not be realized. These statements may be identified by the use of words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “will,” “should,” “seek,” and similar expressions. These forward-looking statements reflect Anzu Partners’ view and assumptions with respect to future events and are subject to risks and uncertainties. Actual and future results and trends could differ materially from those described by such statements due to various factors, including those beyond Anzu Partners’ ability to control or predict. Given these uncertainties, undue reliance should not be placed on forward-looking statements. Anzu Partners does not guarantee that the events described in this press release will happen as described.

Single Cell Genome Sequencing Company BioSkryb Raises $11.5M in Seed Funding Round

DURHAM, N.C., Jan. 9, 2020 /PRNewswire/ — BioSkryb, a developer of genomic amplification technologies that deliver higher coverage and fidelity for gene sequencing, today announced it raised $11.5 million in new funding. This Seed round was led by venture capital firm Anzu Partners and included the law firm Wilson Sonsini Goodrich & Rosati. The funding will accelerate BioSkryb’s product roadmap and its commercialization efforts to enable enhanced levels of genomic and transcriptomic analyses for translational research and clinical diagnostics.

“Existing DNA amplification systems simply cannot provide the level of coverage and accuracy researchers need to fully understand the genomics of individual cells, where the amount of available genetic material is miniscule,” said Jay West, PhD, cofounder and Chief Executive Officer of BioSkryb. “This amplification technology provides an unprecedented level of clarity and paves the way for a new era of genomic research, especially for single cell genomics in cancer research, and for bacterial genomics.”

BioSkryb’s proprietary genomic amplification technology allows scientists working with scarce genetic material to achieve high quality gene sequencing data. The technology provides uniform coverage of almost the entire genome, allowing for unparalleled accuracy in DNA variant calling. The technology will support a new wave of single cell and low DNA input genomics applications in diverse areas of life sciences research, including cancer biology, microbiology, and genetics.

“Bringing the study of genetics down to the cellular level will lead to unexpected discoveries about normal biology, as well as human diseases such as cancer,” said Charles Gawad, MD/PhD, cofounder of BioSkryb and physician-scientist at Stanford University. “The challenge has been that the data quality produced from existing genome amplification methods is insufficient to perform these types of studies. BioSkryb’s new, much more accurate genome amplification technology solves this problem and will accelerate our understanding of human and bacterial genetics, and ultimately, be used to develop single-cell diagnostics for oncology and other areas of medicine.”

The company also announced that it has appointed William E. Evans, PharmD and Siddhartha C. Kadia, PhD to its Board of Directors. Dr. Evans served as St. Jude Children’s Research Hospital’s fifth President and CEO from 2004 to 2014 and currently holds the St. Jude Endowed Chair in Pharmacogenomics. Dr. Kadia previously served as President and CEO of EAG Laboratories in San Diego, CA, and President, Life Sciences Division at Life Technologies Corporation, a company that was acquired by Thermo Fisher in 2014.

“Drs. Evans and Kadia each bring decades of valuable leadership experience to BioSkryb, and we are delighted they are joining its Board of Directors to help the company grow and commercialize its technology globally,” said David Michael, Managing Partner of Anzu Partners.

For more information about BioSkryb and its technology, please visit: https://bioskryb.com.

BioSkryb will be presenting at the Advances in Genome Biology and Technology (AGBT) conference February 23-26, 2020 in Marco Island, FL.

About BioSkryb
BioSkryb is a venture-backed developer of genomic amplification technologies that deliver unprecedented coverage and fidelity for various gene sequencing applications. Its proprietary genome amplification technology was developed at St. Jude Children’s Research Hospital in Memphis, TN. For more information, please visit: https://www.bioskryb.com/.

About Anzu Partners
Anzu Partners is a venture capital and private equity firm that invests in breakthrough industrial technologies. Anzu teams with entrepreneurs to develop and commercialize technological innovations by providing capital and deep expertise in business development, market positioning, global connectivity, and operations. For more information, please visit https://anzupartners.com. On Twitter: @anzupartners.

CONTACT
Rob Haralson for BioSkryb
(202) 674-6679, rhh@anzupartners.com

https://www.prnewswire.com/news-releases/single-cell-genome-sequencing-company-bioskryb-raises-11-5m-in-seed-funding-round-300983873.html