Seventure in €1m seed round for MilliDrop

The cash injection will be allocated to the company's flagship product, MilliDrop Analyzer, a device that draws on millifluidics technology to help researchers manipulate microscopic cell, bacteria, fungi and algae cultures without error.

The capital was provided by Seventure, a venture capitalist with offices in Paris, Munich and Nyon that seeks assets in the software, electronics, telecoms and life sciences segments.

Quadrivium I's portfolio companies are all spinouts from academic institutions such as Université Paris II and IV, Museum National d'Histoire Naturelle, Institut Curie and Université Technologique de Compiègne, among others. The fund's most recent investments include a €1.2m round for employee support service Praditus and a €1m injection into equestrian audio kit designer Horsecom.

Earlier in February, the firm led a $10m series-D for German mobile payments business Payleven alongside fellow VCs Holtzbrinck Ventures and New Enterprise Associates.

Company
Founded in February 2015, MilliDrop designs devices used by research professionals to analyse and manipulate cell, bacteria and algae cultures, among others. Based on millifluidics technology, its core product, MilliDrop Analyzer, allows lab workers to reduce the size of samples and thus boost productivity. The company was created as a spinout of Parisian Institut Pierre-Gilles de Gennes and keeps headquarters in the French capital.

People
Seventure Partners – Philippe Tramoy (partner at Quadrivium I).
MilliDrop – Laurent Boitard (founder, chairperson).

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• Early-stage
• Healthcare
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• France
• seed
• Seventure (SPEF)