Booster's innovation fund backs US$129.4K seed round for eye-drop startup TheiaNova
What's the deal? New Zealand's Booster Innovation Fund (BIF) has invested US$129.4K in TheiaNovaDealroom has a profile for this one. Try Dealroom →, a seed-stage company developing a medicated eye drop for keratoconus and related conditions.
What's the endgame? TheiaNova, founded in 2022 on research from the University of AucklandDealroom has a profile for this one. Try Dealroom →, is building a treatment patients can use at home. It aims to regenerate collagen in the cornea to strengthen tissue and prevent vision loss.
Why it matters? Keratoconus thins and reshapes the eye's clear front surface, which can cause permanent vision loss. Current options rely on optical correction or procedures that halt progression but are, in the company's words, "costly, uncomfortable and with limited accessibility and patient acceptability."
By the numbers: The stake represents 0.76% of BIF's portfolio, which holds exposure to more than 35 active companies and a net asset value of US$17.1M. As seed rounds go, the sum sits in the smallest bracket — around the 16th percentile by amount.
BIF is a managed fund investing in early-stage companies built on intellectual property originated or developed in New Zealand. It is run by Booster Investment Management LimitedDealroom has a profile for this one. Try Dealroom →, part of a group that administers over US$5.18B for more than 200,000 New Zealanders.
The signal: The cheque is modest, but it reflects a listed innovation fund channelling everyday investor money into deep-tech and health research spun out of universities — a route to fund early-stage science that often struggles to attract capital.
Read more: businessdesk.co.nz
Image credit: n4i.es
