Delphinus Medical Technologies, the Plymouth, MI-based medical imaging startup, announced this week that it has raised $39.5 million in a Series C round. The investment was led by Venture Investors, with participation from Hopen Life Science Ventures, Waycross Ventures, Arboretum Ventures, Beringea, and North Coast Technology Investors. According to the company, the round represents the … Continue reading “Delphinus Closes $39.5 Million Series C, Plans SoftVue Trial”
Author: Sarah Schmid Stevenson
Sarah is a former Xconomy editor. Prior to joining Xconomy in 2011, she did communications work for the Michigan Economic Development Corporation and the Michigan House of Representatives. She has also worked as a reporter and copy editor at the Missoula Independent and the Lansing State Journal. She holds a bachelor's degree in Journalism and Native American Studies from the University of Montana and proudly calls Detroit "the most fascinating city I've ever lived in."
Nutshell’s CEO, Founder on Building Startups in Ann Arbor
When I first sat down last spring to talk with serial entrepreneurs Guy Suter and Joe Malcoun about the companies they’ve launched and their plans to boost Ann Arbor’s startup ecosystem as a whole, it was a fun, freewheeling conversation. Malcoun and Suter have their hands in a number of local companies and projects. They’re … Continue reading “Nutshell’s CEO, Founder on Building Startups in Ann Arbor”
NFL Lab Report: Detroit’s Xenith Makes Top-Rated Football Helmet
The topic of football-related brain injuries has captured national attention as doctors and researchers learn more about the kind of long-term damage sustained by players in the rough-and-tumble sport. There’s even a movie scheduled to hit theaters later this year called “Concussion,” which stars Will Smith as Dr. Bennet Omalu, the real-life forensic neuropathologist who … Continue reading “NFL Lab Report: Detroit’s Xenith Makes Top-Rated Football Helmet”
Varsity News Network Snags $3.7 Million, Plans 2.0 Version Next Year
Varsity News Network (VNN), the Grand Rapids, MI-based startup that facilitates online communication between high school athletic departments, parents, and athletes, today announced that it has closed on a round of financing worth $3.7 million. Arsenal Ventures led the round, with participation from North Coast Technology Ventures, RSL Venture Partners, Start Garden, Nir Arkin, Detroit … Continue reading “Varsity News Network Snags $3.7 Million, Plans 2.0 Version Next Year”
Roundup: Sapa, Ann Arbor SPARK, Hatch Detroit, Automation Alley & More
Here’s a look at innovation news you may have missed from across Michigan: —Sapa Extrusions opened a new office in Birmingham, the company’s fourth North American Technology Center. At the facility, Sapa will work with the automotive industry to design cheaper, more corrosion-resistant aluminum products, with support engineers providing custom alloy development for major manufacturers … Continue reading “Roundup: Sapa, Ann Arbor SPARK, Hatch Detroit, Automation Alley & More”
Renaissance, MVCA Program Lures Half-Dozen Investors to Michigan
Though Michigan’s startup community has experienced a ton of growth in the past 10 years, the state remains a place that is “underserved” when it comes to investment capital, says Chris Rizik, CEO and fund manager at Renaissance Venture Capital. With that in mind, Renaissance partnered with the Michigan Venture Capital Association for the past … Continue reading “Renaissance, MVCA Program Lures Half-Dozen Investors to Michigan”
Detroit’s First Youth Maker Faire Draws a Lively Crowd
Event organizers estimate about 1,000 people attended the city’s first-ever Detroit Youth Maker Faire, held last Thursday at Eastern Market. Hosted by the University of Michigan’s Ross School of Business, TechTown Detroit, General Motors, and the Detroit Parent Network, the maker faire gave local kids the chance to show off their creativity and learn more … Continue reading “Detroit’s First Youth Maker Faire Draws a Lively Crowd”
Achates CEO on Growth, Obama’s Climate Plan, Fairbanks Morse Deal
In April, San Diego-based Achates Power announced it was opening a Michigan office to capitalize on the market momentum of its opposed-piston engines. I caught up with Achates CEO David Johnson this week to find out how things were going. “We have a great facility,” Johnson said, referring to the company’s recently opened Customer Application … Continue reading “Achates CEO on Growth, Obama’s Climate Plan, Fairbanks Morse Deal”
With $24M Series B, Avegant Prepares to Launch Video Player Headset
Avegant, a Redwood City, CA-based tech startup with roots in Ann Arbor, MI, announced this week that it has raised $24 million in Series B funding. Lian Luo, a Chinese mobile gaming company, led the round, with participation from the Bunting Family Fund and returning investors Intel Capital and NHN Investments. Avegant’s lead consumer product … Continue reading “With $24M Series B, Avegant Prepares to Launch Video Player Headset”
Roundup: U-M Impact Challenge, Digerati Girls, 365 Retail Markets & More
Here’s a look at news from around Michigan’s innovation communities: —The University of Michigan’s Ross School of Business today unveiled details of its annual Impact Challenge, an immersive leadership development program which brings together the entire incoming class of first-year, full-time MBA students to engage in a week-long business challenge that aims to make a positive difference … Continue reading “Roundup: U-M Impact Challenge, Digerati Girls, 365 Retail Markets & More”
Michipreneur Graduates from Blog to Online Startup Resource Hub
When Michipreneur began in 2012, it was a blog focused on telling stories from Michigan’s startup community. Since then, it has grown into a full-on digital publishing operation that offers a host of online services for local startups. This week, the company announced it has launched a new platform connecting Michigan entrepreneurs and creatives across … Continue reading “Michipreneur Graduates from Blog to Online Startup Resource Hub”
Breaking Down Barriers: A Detroit-Ann Arbor Dinner Conversation
Growing up in East Lansing, MI, I wasn’t aware of the “invisible forcefield on US-23,” as TechTown Detroit’s executive-in-residence Gerry Roston eloquently phrases it, that acts as a barrier between Detroit and Ann Arbor. It seemed inconceivable to me that I, someone who grew up about 80 miles from Detroit, had visited the city more … Continue reading “Breaking Down Barriers: A Detroit-Ann Arbor Dinner Conversation”
Roundup: Goldman Sachs, Hatch Detroit, Aging 2.0, U-M & More
Here’s a look at innovation news from around Michigan: —The Goldman Sachs 10,000 Small Businesses Initiative, a $20 million effort announced in 2013 that provides loans, business education, and grants to Detroit-area entrepreneurs, celebrated the graduation of 60 small-business owners at a reception at Wayne State University earlier this month. The graduates participated in more … Continue reading “Roundup: Goldman Sachs, Hatch Detroit, Aging 2.0, U-M & More”
Xconomy Detroit/Ann Arbor Aims to Capture Spirit of Collaboration
As we approach the end of our fifth year in Michigan, Xconomy Detroit is rebranding. We’re calling it Xconomy Detroit/Ann Arbor in recognition of the ongoing collaboration between the two communities so crucial to the state’s efforts to innovate and diversify—collaboration we hope to help foster. First, some history: When Xconomy decided to expand its … Continue reading “Xconomy Detroit/Ann Arbor Aims to Capture Spirit of Collaboration”
Asterand Buys AdeptBio to Capitalize on Precision Medicine’s Rise
Asterand Bioscience, the Detroit, MI-based provider of biospecimens to drug discovery and research customers, announced it has acquired Memphis, TN-based AdeptBio, a biobank specializing in the custom procurement of human tissue samples. The terms of the deal were not disclosed, but John Canepa, Asterand’s COO and CFO, said the acquisition positions the company to better … Continue reading “Asterand Buys AdeptBio to Capitalize on Precision Medicine’s Rise”
Loxo Oncology Appoints Esperion’s Mayleben to Board of Directors
[Corrected 8/11/15, 9:57 am. See below.] Loxo Oncology, the Stamford, CT-based biopharmaceutical company developing targeted cancer therapies, announced last week that it has appointed veteran life sciences executive (and Detroit Xconomist) Tim Mayleben to its board of directors. Mayleben is president and CEO of Ann Arbor, MI’s Esperion Therapeutics, and he has a long history … Continue reading “Loxo Oncology Appoints Esperion’s Mayleben to Board of Directors”
Gov. Snyder Announces “We Run on Brainpower” Talent Initiative
At a Center for Automotive Research event in Traverse City, MI, this week, Gov. Rick Snyder announced a new statewide effort to publicize high-tech automotive jobs in Michigan in an effort to attract and retain talent. Called We Run on Brainpower, the marketing initiative will be directed by the Michigan Economic Development Corporation (MEDC) and … Continue reading “Gov. Snyder Announces “We Run on Brainpower” Talent Initiative”
Sakti3, NextEnergy Represent MI at First-Ever White House Demo Day
Xconomist Ann Marie Sastry, founder of the Ann Arbor, MI-based advanced battery startup Sakti3, has collected many accolades during her career. But this week might have been the first time she got an in-person “atta girl” from the leader of the free world. Sastry was in Washington, DC, Tuesday for the first-ever White House Demo … Continue reading “Sakti3, NextEnergy Represent MI at First-Ever White House Demo Day”
Zoetis Gets Conditional License for Antibody Treatment of Itchy Dogs
Zoetis (NYSE: [[ticker:ZTS]]), a maker of animal health medicines and vaccines, announced this week that it has received a conditional license from the U.S. Department of Agriculture (USDA) for its immunotherapeutic to treat canine atopic dermatitis, an allergic skin condition in dogs. The company, which bases its research and development operations in Kalamazoo, MI, says its … Continue reading “Zoetis Gets Conditional License for Antibody Treatment of Itchy Dogs”
Roundup: YFS Automotive, Automation Alley, Ann Arbor SPARK, NextEnergy
Here’s a look at news from around Michigan’s entrepreneurial ecosystem: —The New York Times reported two years ago that Chinese automakers were quietly building a presence in Michigan. The latest company to set up shop in Michigan is supplier YFS Automotive Systems, a China-based company with a U.S. headquarters in Gallatin, TN. Last week, YFS … Continue reading “Roundup: YFS Automotive, Automation Alley, Ann Arbor SPARK, NextEnergy”
HiveLend Seeks to Connect Beekeepers and Farmers Online
We’re firmly in the era of the Uberization of Everything, and even the slow-to-digitize agricultural industry is getting in on the trend. HiveLend, the Ann Arbor, MI-based startup that won Ann Arbor SPARK’s Best of Bootcamp honors in May, is seeking to help mitigate the ravages of colony collapse disorder (CCD) by connecting farmers and … Continue reading “HiveLend Seeks to Connect Beekeepers and Farmers Online”
3D Sensor Startup Occipital Closes $13M Series B, Plans Expansion
Occipital, a San Francisco startup founded by two University of Michigan alums, announced this week that it has raised $13 million in a Series B round. Participating in the round is a previous investor, Colorado-based Foundry Group, as well as Intel Capital, Shea Ventures, and Grishin Robotics. Adam Rodnitzky, Occipital’s vice president of marketing, said … Continue reading “3D Sensor Startup Occipital Closes $13M Series B, Plans Expansion”
MI Roundup: iDashboards, OnStar, Zagster, Pure Michigan LIVE & More
Here’s a look at news you may have missed from around Michigan’s innovation hubs: —iDashboards, the Troy-based business intelligence software company, has formed a “value-add reseller” partnership with Phoenix Systems, a Canadian software and hardware service provider. Phoenix Systems will now offer iDashboards’ data visualization products to its customers, and the company said in a … Continue reading “MI Roundup: iDashboards, OnStar, Zagster, Pure Michigan LIVE & More”
Modustri Software Helps Caterpillar Monitor Equipment’s Wear and Tear
The Grand Rapids, MI-based heavy-equipment technology startup Modustri announced it has entered into a strategic partnership with Caterpillar to develop new products that will help Caterpillar’s customers measure the amount of wear on their machines and better optimize their fleets. The exact terms of the deal were not disclosed. “We had an opportunity to understand … Continue reading “Modustri Software Helps Caterpillar Monitor Equipment’s Wear and Tear”
MCity and the Race to Get Connected Cars on the Road
The University of Michigan unveiled MCity this week to a throng of international media and local dignitaries on hand to check out the $6.5 million, 32-acre controlled environment specifically designed to test the potential of connected and automated vehicle technologies. The replica city—complete with movable building facades; roundabouts and traffic signals; bike lanes and a … Continue reading “MCity and the Race to Get Connected Cars on the Road”
New $2.7M Macomb Innovation Fund Awards $275K to Five Startups
Five startups from Southeast Michigan were today awarded a total of $275,000 from a new $2.7 million innovation fund that is a joint effort between Macomb Community College (MCC) and JP Morgan Chase, as part of the latter’s $100 million, five-year initiative to stimulate Detroit’s revitalization. The purpose of the fund, organizers said in a … Continue reading “New $2.7M Macomb Innovation Fund Awards $275K to Five Startups”
DRYV Offers Detroiters On-Demand Dry-Cleaning and Delivery
Believe it or not, my least favorite thing about Detroit is not the crime, systemic poverty, or proliferation of twee, wildly overpriced hipster boutiques. What drives me crazy about the Motor City is actually the utter lack of delivery services and on-demand service provider options. Savvy startups are beginning to notice that hole in the … Continue reading “DRYV Offers Detroiters On-Demand Dry-Cleaning and Delivery”
Move West, Raise Cash: ProNAi’s Hot Streak Now Includes $138M IPO
When Xconomy last reported on ProNAi Therapeutics (NASDAQ: [[ticker:DNAI]]) in April 2014, the biotech developing cancer drugs based on DNA interference (DNAi) technology had just closed a Series D round of nearly $60 million. This week, ProNAi took to the public markets, raising $138 million in an initial public offering and watching its share price … Continue reading “Move West, Raise Cash: ProNAi’s Hot Streak Now Includes $138M IPO”
Rubicon Genomics Raises $2M, Prepares to Launch New Plasma Product
Rubicon Genomics, the Ann Arbor, MI-based University of Michigan life sciences spinout, today announced it has raised $2 million in a structured debt deal. The financing was led by BroadOak Capital Partners in Bethesda, MD, with participation from Tucson, AZ-based Research Corporation Technologies. The announcement caps a year of intense growth for the company, said … Continue reading “Rubicon Genomics Raises $2M, Prepares to Launch New Plasma Product”
Roundup: U-M, Grand Circus, Quicken Loans, MI Science Center & More
Here’s a look at news from around Michigan’s innovation hubs: —The Zell Family Foundation announced this week that it has pledged another $60 million to the University of Michigan’s Zell Lurie Institute for Entrepreneurial Studies at the Ross School of Business. The money will provide endowed funding for the institute and its programs for students … Continue reading “Roundup: U-M, Grand Circus, Quicken Loans, MI Science Center & More”
U-M’s Zell Lurie Fund Invests in Reveal Design Automation
The University of Michigan’s Zell Lurie Commercialization Fund announced Friday that it has invested $50,000 in Ann Arbor, MI’s Reveal Design Automation, a university spin-out working in the area of semiconductor chip verification. Zaher Andraus, Reveal Design Automation’s CEO, said the company plans to use the money to hire more employees and pursue its first … Continue reading “U-M’s Zell Lurie Fund Invests in Reveal Design Automation”
Sound Band Backers, Rejoice: Thiel Says Your Device is Coming Soon
Good news for Kickstarter backers of Hybra Advance Technology’s Sound Band project: Beta test units have been shipped. Co-founder Joe Thiel said that as soon as Hybra incorporates any feasible changes requested by beta testers, Sound Band units will be sent to all the remaining Kickstarter backers—by the end of the year, Thiel said, if … Continue reading “Sound Band Backers, Rejoice: Thiel Says Your Device is Coming Soon”
Backstitch Flips Switch on Service Aiming to Cut Through Web’s Noise
Backstitch, the Detroit-based software startup that automatically curates content and organizes the noise of the Internet according to users’ preferences, went live last week with expanded tools and services, the culmination of about a year’s work teasing out what its customers truly want, the company said. Co-founder Jordan Warzecha said that Backstitch still offers a … Continue reading “Backstitch Flips Switch on Service Aiming to Cut Through Web’s Noise”
ONL Therapeutics Promotes New Lead Drug, Expands Clinical Program
ONL Therapeutics, a University of Michigan spin-out working on sight-preserving therapies for retinal diseases, announced that it has changed course in its drug development program. The company has promoted a new lead drug candidate and has expanded its planned clinical studies to include both dry and wet forms of age-related macular degeneration (AMD). John Freshley, … Continue reading “ONL Therapeutics Promotes New Lead Drug, Expands Clinical Program”
Weyn Seeks to Develop Mobile Games Targeting Women, People of Color
Ida Byrd-Hill first came to Xconomy’s attention in 2011 for her efforts to introduce Detroit kids to the “wild, wild world of intellectual property” through a board game called Fluke: The Wealth Building Game of Accidential Inventions. Now, Byrd-Hill is taking the same approach—teaching people about wealth through gaming—and putting a digital spin on it. … Continue reading “Weyn Seeks to Develop Mobile Games Targeting Women, People of Color”
Roundup: Hatch Detroit, TechTown, DeNovo, & More
Here’s a look at news you may have missed from Michigan’s innovation hubs: —Comerica Hatch Detroit, the annual contest that awards $50,000 to the winning startup venture, will accept applications from entrepreneurs until July 24. (All applications must be filled out online.) In addition to the cash, the winner will also receive a package of … Continue reading “Roundup: Hatch Detroit, TechTown, DeNovo, & More”
U-M’s Desai Family Accelerator Announces Inaugural Startup Class
Last summer, the University of Michigan’s Ross School of Business and College of Engineering announced the creation of a new accelerator that would be open to any startup—no university affiliation required. Earlier this month, the Desai Family Accelerator selected its first cohort of five companies, and they’ll now spend the summer trying to refine and … Continue reading “U-M’s Desai Family Accelerator Announces Inaugural Startup Class”
Metro Detroit Teacher’s App Helps Students Master Organic Chemistry
In 20 years of teaching college-level organic chemistry to high school students at Detroit Country Day, Julia Winter has perfected a method of conveying difficult scientific concepts to students. Now, she’s formed a company based in Ann Arbor, MI, called Alchemie to share what she’s learned with parents and kids. The endeavor began two years … Continue reading “Metro Detroit Teacher’s App Helps Students Master Organic Chemistry”
Automation Alley Puts More Cash Into Civionics, Lighthouse Molding
Automation Alley, the Troy, MI-based technology business association and accelerator, announced today that it has put additional money into two of its incubator clients, Civionics and Lighthouse Molding, through its pre-seed fund. Each company received $25,000 earlier this year when they started in Automation Alley’s 7Cs program to help advanced manufacturing startups grow. Today, Civionics … Continue reading “Automation Alley Puts More Cash Into Civionics, Lighthouse Molding”
Roundup: MI Science Center, Phrixus, #hack4detroit, Quicken Loans
Here’s a look at news from around Michigan’s innovation hubs: —University of Michigan spin-out Phrixus Pharmaceuticals is taking another step toward clinical trials of its Duchenne muscular dystrophy drug, thanks to more support from the National Institutes of Health (NIH). The NIH National Heart, Lung, and Blood Institute’s SMARTT program will provide services to produce … Continue reading “Roundup: MI Science Center, Phrixus, #hack4detroit, Quicken Loans”
Are You a Human Closes on $4.2M Series A, Plans Expansion of Human ‘Whitelist’
Are You a Human, the Detroit-based technology company focused on online identity verification, announced today that it has closed on a $4.2 million Series A round. Participating in the round were Detroit Venture Partners, which has invested in the company in the past; Boulder, CO-based Foundry Group Angels; MDC Dream Ventures, the investment arm of … Continue reading “Are You a Human Closes on $4.2M Series A, Plans Expansion of Human ‘Whitelist’”
In the Age of Uber, Lawn Guru Takes Yard Care Services Digital
The Uber-fication of modern life continues as service providers of all stripes realize they can capitalize on the peer-to-peer service model that has worked so well for the ride-sharing startup. Just in time for summer, there’s a new, locally based app called Lawn Guru that allows users to connect with lawn care professionals and order … Continue reading “In the Age of Uber, Lawn Guru Takes Yard Care Services Digital”
MI Roundup: Brightmoor Maker Space, Ford, Rockwell Medical
Here’s a look at news you may have missed from around Michigan’s innovation hubs: —The University of Michigan and the Michigan Economic Development Corporation (MEDC) announced last week that they’re launching a crowdfunding campaign on Patronicity to transform a vacant 3,200-square-foot building on the Detroit Community Schools campus into the Brightmoor Maker Space, a place where … Continue reading “MI Roundup: Brightmoor Maker Space, Ford, Rockwell Medical”
#Hack4detroit Seeks to Improve City Services Through Open Data Portal
We started the week out talking about hackathons in Detroit, and we’ll finish the week the same way, although #hack4detroit has a twist: Participants are using the city of Detroit’s open data portal to create apps that will benefit city residents or help streamline operations. Automation Alley’s #hack4detroit event starts at 7 p.m. tonight at … Continue reading “#Hack4detroit Seeks to Improve City Services Through Open Data Portal”
Lycera’s End Game? $104M Celgene Deal Could Lead to Buyout
It’s been a big week for Lycera, a biotech firm focused on immunotherapy that spun out of the University of Michigan nearly a decade ago. On Tuesday, the company announced a deal with Celgene, of Cranbury, NJ, that could spell the beginning of the end for the Michigan biotech. Celgene has taken an option to … Continue reading “Lycera’s End Game? $104M Celgene Deal Could Lead to Buyout”
Techstars Mobility Launches with Office at Ford Field, New Partners
At long last, the inaugural session of the Techstars Mobility program officially launched Tuesday from its 10,000-square-foot office at Ford Field, home of the Detroit Lions. Ten companies working on a range of mobility-related products and services will spend the next three months developing their ideas in Detroit, culminating with a demo day on Sept. … Continue reading “Techstars Mobility Launches with Office at Ford Field, New Partners”
Sprinkle Camp Offers Hackers an All-Expense-Paid Weekend in Detroit
Detroit in 2015 reminds a lot of people of New York City (minus the functional public transportation system, of course) before former mayors Rudy Giuliani and Michael Bloomberg helped transform it into a bright, shiny playground for the upwardly mobile. The edge that used to attract artists and innovative thinkers of all stripes to the … Continue reading “Sprinkle Camp Offers Hackers an All-Expense-Paid Weekend in Detroit”
MI Roundup: Gilbert vs. Lacob, TierConnect, Detroit Materials & More
Here’s a look at news from around Michigan’s innovation hubs: —Ann Arbor’s Plymouth Ventures announced this week that it has made a follow-on investment in 365 Retail Markets, a Troy-based startup that provides hardware and software to vending machine owners who are looking to cash in on a wave of the future: unmanned, miniature convenience … Continue reading “MI Roundup: Gilbert vs. Lacob, TierConnect, Detroit Materials & More”
SPARK Nabs Federal Funds for Willow Run Plant Redevelopment Plan
Ann Arbor SPARK announced late last month that it has been awarded a 2014 Regional Innovation Strategies Program Science and Research Park Development Grant from the U.S. Department of Commerce’s Economic Development Administration. The $247,170 grant will support SPARK’s ongoing efforts to create a connected vehicle development center at the former Willow Run plant in … Continue reading “SPARK Nabs Federal Funds for Willow Run Plant Redevelopment Plan”
Big M Event Looks at Future of Manufacturing, Industrial Security
The Big M conference returns to Detroit today to take a deep dive into the future of manufacturing and how it intersects with new technologies—the cloud, 3D printing, the Internet of Things, and wearable devices, for instance—to shape what’s to come. Michigan, of course, has long been a manufacturing powerhouse. According to the Big M’s … Continue reading “Big M Event Looks at Future of Manufacturing, Industrial Security”