Nerd Street gets a $6M investment to collab with local colleges on esports

A gaming center may be coming to a college near you, thanks to new funding for a local esports company. 

Nerd Street announced on Friday that it raised $6 million to fund partnerships with colleges and universities and open locations on their campuses. 

Also, the University City Science Center got $900,000 from the US Department of Commerce to fund its Capital Readiness Program and the University of Pennsylvania secured funding for its new Center for Media, Technology and Democracy. 

Get all the details on the latest Money Moves below the chart, where we look at the top 10 companies hiring for tech jobs in the Philadelphia market and how that’s changed since last month.

Nerd Street raises $6M to support collegiate partnerships 

Esports company Nerd Street raised a $6 million funding round to support its collegiate esports partnerships and venues around the country. Konvoy Ventures, which contributed $5 million, led the round. 

Nerd Street opened an esports gaming center, called Localhosts, at New Jersey-based Rowan University in 2023 and announced plans to partner with Albright College in Reading, Pennsylvania the same year. The company plans to partner with other universities to bring esports programming and equipment to their student bodies. 

The company also works with Temple University at its North Broad Street location and partners with Maryville University in St. Louis for youth summer programming. 

The Science Center got $900,000 from the US Commerce Dept. 

The US Department of Commerce gave $900,000 to the University City Science Center to support its Capital Readiness Program. This funding is part of $3.7 million investment in infrastructure and scientific business expansion projects in Pennsylvania. 

“This generous funding will significantly enhance our efforts to bolster the growth of companies in our ecosystem,” the Science Center wrote on LinkedIn, “and introduce high growth startups from across the country to the Philadelphia market through the 5-day intensive bootcamp.”

The Capital Readiness program is a five-day long intensive that provides resources and connections to life sciences founders who are preparing to raise funding. 

The program launched in 2023 and had its latest cohort this summer, including founders from around the world. 

Penn launches Tech, Media and Democracy Center with $5M donation

The University of Pennsylvania announced the new Center for Media, Technology and Democracy, funded by a $5 million donation from journalism and arts nonprofit the Knight Foundation. The partnership will last five years. 

The center, which will support data gathering and research, will also be funded by $5 million allocated from other internal departments. Other orgs involved include School of Engineering and Applied Science, Penn Arts & Sciences, the Annenberg School for Communication, the Wharton School, Penn Carey Law, the School of Social Policy & Practice and the Annenberg Public Policy Center.

“This pioneering research center will develop new programs, support new opportunities, and coalesce many different data sets so that they are available for others to use,” said Penn Provost John L. Jackson Jr.

More Money Moves: 

• Toronto and Philadelphia-based Radiant Biotherapeutics raised $35 million Series A. The Bill and Melinda Gates Foundation and Amplitude Ventures co-led the round. The biotech company is working on a therapeutic called Multabody which can treat tumors, blood cancers and infectious diseases. 

• Wellness tech brand HUSK was acquired by Toronto-based Volaris Group, which specializes in acquiring software companies. HUSK was formerly known as GlobalFit, but rebranded in 2022.