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The Venture Codex

RIT Venture Fund

40 Franklin Street, Rochester, NY, 14604, United States

Overview

RIT Venture Fund provides investment capital to entrepreneurial ventures with a strong connection to the RIT community.

Total investments
4
Lead investments
0
Investments · 12mo
1
Active investors
0
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Investment portfolio

  • Kanvas Biosciences

    Participated · Series A · May 2026

    Kanvas Biosciences develops a spatial biology platform for microbiome drug screening, discovery and manufacturing aimed at accelerating live biotherapeutics development. The company’s lead program is KAN-001, an immuno-oncology candidate for which the recent Series A will fund clinical trials. Kanvas intends to use proceeds to advance commercial partnerships alongside clinical development. Its core technology was initially developed at Cornell University and is exclusively licensed. The company is led by CEO Matthew Cheng. The articles do not report revenue, user metrics, founding year, or prior financing details.

  • CytoTronics

    Participated · Seed · Sep 2024

    CytoTronics develops semiconductor-to-live-cell interfaces called Pixel that provide multi-modal, single-cell resolution monitoring of viability, morphology, electrophysiology and more. The company launched early access programs for Pixel Primo and Pixel Octo, with Pixel Octo aimed at improving scalability for high-throughput discovery applications. Pixel has received a 2024 SLA New Product Award and an R&D 100 award. CytoTronics plans to expand commercial and field teams, scale manufacturing and production, and is preparing for first product shipments in 2025. The company was founded as a Harvard spinout in 2021 and is headquartered in Boston, Massachusetts. CytoTronics is commercializing a CMOS-powered drug discovery platform that provides optics-free, single-cell resolution electrical and electrochemical assays. The platform is an integrated single-cell resolution electrochemical-imaging array that produces electrical and image-like readouts from live cells without optics. Its suite of patented technologies was developed over a decade of research at Harvard and licensed exclusively to CytoTronics via Harvard Office of Technology Development. The company aims to target the roughly $20 billion low-throughput cell-based assay market and quickly progress to higher-throughput workflows to make drug-discovery research more precise, automatic, repeatable, and scalable. Seed funding of $9.25M will be used to commercialize research-demonstrated devices and advance platform development. CytoTronics has opened wet-biology and electronics labs at Agility Labs in Boston to continue R&D and further develop its platform.

  • Casana

    Participated · Seed · Apr 2020

    Casana provides healthcare technologies that enable integrated, in-home health monitoring. Its first product, the Heart Seat, is an IoT health-monitoring toilet seat that captures clinically relevant measurements including heart rate, blood pressure and blood oxygenation. The company is pursuing FDA clearance for the Heart Seat and intends to use the new funding to accelerate FDA submission with the goal of obtaining approval and bringing the device to patients in 2022. Casana is investing in several studies to investigate the potential value of the Heart Seat for health systems and risk-bearing organizations. Founded in 2018 by Dr. Nicholas Conn and led by CEO Austin McChord, the company is based in Rochester, N.Y. This round brought total capital raised to date to $46M. Casana (formerly Heart Health Intelligence) commercializes The Heart Seat, an IoT toilet-seat–based cardiovascular monitoring system that measures heart rate, blood pressure, blood oxygenation, and cardiac output. The device is cloud-connected and designed to provide clinicians with consistent, passive in-home cardiac data without adding burden to clinical workflows. The Heart Seat has been tested in multiple peer-reviewed research studies and the company is pursuing FDA clearance to validate its clinical-grade technology. Casana plans to use its financing to bring The Heart Seat to market and to study benefits for heart failure patients with health systems and risk-bearing organizations, including the University of Florida and The Villages Health. The company was founded in 2018 and is based in Rochester, N.Y. Following the Series A, Austin McChord stepped in as CEO to help accelerate commercialization. Heart Health Intelligence (HHI) has developed The Heart Seat, a cloud-connected, self-contained toilet seat that captures clinical-grade cardiovascular data from patients in their homes. The device measures over nine clinical-grade metrics and has been tested in over 300 subjects in partnership with the University of Rochester Medical Center, with results published in two peer-reviewed articles (2018 and 2019). HHI partnered with Bemis Manufacturing Company to produce The Heart Seat and leverage Bemis’s experience with FDA-regulated devices. The company plans to commercialize the product and pursue FDA clearance. HHI was founded in July 2018 based on research from the Rochester Institute of Technology and in partnership with the University of Rochester Medical Center. The technology is designed to enable daily, effortless heart-health monitoring without requiring users to change their habits.

  • Token

    Participated · Equity · Jun 2017

    Token develops a next-generation multifactor authentication (MFA) platform built around a FIDO2-compliant biometric smart ring that eliminates passwords and blocks phishing, ransomware, and other credential-based attacks. The ring is designed for rapid deployment, allowing administrators to install company-wide in hours while end users self-provision in minutes. Unlike traditional BYOD tokens or legacy MFA products, Token’s wearable incorporates on-device biometrics and tamper resistance to close common security gaps. The product has already earned five industry awards for innovation and security, underscoring early market validation. With phishing and ransomware attacks escalating—especially as AI tools make them more sophisticated—the company is positioning its hardware-backed MFA as a critical layer of defense for enterprises. The new $30 million financing provides inventory and working-capital funding that will accelerate product development and broader market rollout. Grand Oaks Capital’s repeat backing signals confidence in Token’s technology and the sizable addressable market for phishing-proof authentication.

Team

No current team members are available.