PactSafe, an Indianapolis startup focused on cloud-based contracting services, announced this week that it has raised a $5.5 million Series A investment round. The round was co-led by Houston, TX-based Mercury Fund and Salt Lake City’s Signal Peak Ventures, and included contributions from Indiana’s Elevate Ventures and Singapore’s Vulpes Testudo. PactSafe, founded in 2015, sells … Continue reading “Indy’s PactSafe Snags $5.5M Series A to Expand Contracting Software”
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."
Dough Pushes Transparency, Culture Change Amid Student Debt Crisis
Catalina Kaiyoorawongs knows from experience how dire the student debt crisis has gotten in the United States. She spent years addressing access to loans for fellow low-income and first-generation students in Florida as part of her advocacy work, calling financial aid offices on their behalf in an effort to sort out the details of their … Continue reading “Dough Pushes Transparency, Culture Change Amid Student Debt Crisis”
Derq Teaches Driverless Cars to Safely Navigate Busy Intersections
There are many technical challenges to overcome in the development of self-driving cars, but one of the toughest is predicting and preventing collisions with pedestrians and other objects that end up in the roadway. As urban cyclists know, there is a fair amount of intense eye contact that goes on between bikers and drivers as … Continue reading “Derq Teaches Driverless Cars to Safely Navigate Busy Intersections”
Cosworth Prepares for Autonomous Future with New Michigan Factory
Huge changes are underway in the automotive industry as autonomous vehicles get closer to becoming reality, forcing manufacturers and suppliers to rethink their growth strategy. Cosworth, a 60-year-old company based in the United Kingdom that has historically made high-performance racing engines, is no exception, says CEO Hal Reisiger. Late last month, Cosworth unveiled its new … Continue reading “Cosworth Prepares for Autonomous Future with New Michigan Factory”
PassageX, Listia Partner to Use Blockchain to Resell Tickets
Alex Linebrink is on a mission to cut out the middle man. Linebrink is the founder and CEO of Passage, a Detroit-based ticketing startup. The company’s bread and butter is servicing smaller, niche events, such as Halloween-themed tours, beer festivals, comedy shows, and minor league soccer. “Passage powers ticketing for specialty events,” Linebrink explains. “We … Continue reading “PassageX, Listia Partner to Use Blockchain to Resell Tickets”
Metro Detroit Teachers Create App to Help Automate School Lockdowns
It seems that hardly a week goes by without news of yet another mass shooting in the United States. Since the threat of spontaneous gun violence doesn’t seem to be going away, innovators are looking for ways to protect themselves and loved ones from these shooters. That includes two Detroit-area teachers, Matt Ridenour and Josette … Continue reading “Metro Detroit Teachers Create App to Help Automate School Lockdowns”
Assembler Labs Aims to Get Detroit Entrepreneurs Out of Their Shells
Ian Sefferman is bullish on the Midwest, particularly Detroit. A native of the area, Sefferman started a Seattle-based app marketing company called MobileDevHQ that was acquired by TUNE in 2014. While Sefferman was deciding what to do next, he moved back to Detroit last year to be closer to family and learn more about the … Continue reading “Assembler Labs Aims to Get Detroit Entrepreneurs Out of Their Shells”
May Mobility and Bedrock Deploy Driverless Shuttles in Detroit
In March, May Mobility CEO Ed Olson told Xconomy that his company would beat Waymo, Uber, and Cruise in the race to get autonomous vehicles on the road, and it appears he may be right. May and Bedrock, the Detroit real estate firm associated with Quicken Loans chairman Dan Gilbert, have launched what they call … Continue reading “May Mobility and Bedrock Deploy Driverless Shuttles in Detroit”
Ford Builds Mobility Operation in Detroit, Releases New Fleet Tools
When I moved to Detroit about a decade ago, the husk of Michigan Central Station loomed over the Corktown neighborhood as an unrelenting reminder of how far the city had fallen—a symbol of its ruinous post-industrial identity as emblematic as the Sphinx was to Egypt. The conventional wisdom back then was that the old train … Continue reading “Ford Builds Mobility Operation in Detroit, Releases New Fleet Tools”
Costello Raises $2.1M to Accommodate Growing Customer Demand
Costello, the Indianapolis-based software startup, this week announced that it has raised $2.1 million in seed funding. A number of local and out-of-state investors contributed to the round, including Dundee Ventures, Collina Ventures, Silicon Valley’s Social Capital, Copper Mountain Technologies CEO Irena Goloschokin, and ExactTarget co-founder Chris Baggott. Costello’s software brings artificial intelligence to the … Continue reading “Costello Raises $2.1M to Accommodate Growing Customer Demand”
Detroit Entrepreneur’s PlayVs is First E-Sports League for High Schools
As a kid in the 1990s, Delane Parnell spent his formative years around Detroit’s 7 Mile and Burgess neighborhood in a home with no Internet. Today, he’s the founder and CEO of a hot Los Angeles-based e-sports startup—and responsible for raising the largest Series A investment round of any African-American tech founder. Parnell is the … Continue reading “Detroit Entrepreneur’s PlayVs is First E-Sports League for High Schools”
New Conquer Cohort Tackling Homecare Staffing, Snapchat Filters, More
A glance at the thermometer confirms summer is officially here—quite oppressively here if you’re in the Midwest—and that means the start of a handful of annual startup incubation programs in Michigan. The Conquer Accelerator, hosted by Spartan Innovations, just launched its 2018 cohort in East Lansing. The five companies accepted into this year’s program will … Continue reading “New Conquer Cohort Tackling Homecare Staffing, Snapchat Filters, More”
Mapping Software Startup Ushr Lands Installation Deal with Cadillac
Ushr, the Livonia, MI, and Lompoc, CA-based startup making high-definition mapping software for use in semi-autonomous and autonomous vehicles, has earned awards and accolades since it launched last year. The latest award has paved a path to get Ushr’s software into future models of a classic American car brand. Ushr has a big hand in … Continue reading “Mapping Software Startup Ushr Lands Installation Deal with Cadillac”
Roundup: Startup Week Detroit, Grand Circus, MWCT, Duo Security, More
Summer is here, and with it, plenty of tech news from across Michigan. Startup Week Detroit kicks off on Monday, while other programs have fast-approaching application deadlines; grants have been awarded; milestones have been achieved; and new hires have been announced. Read on for details. —Techstars Startup Week Detroit, described by organizers as a weeklong … Continue reading “Roundup: Startup Week Detroit, Grand Circus, MWCT, Duo Security, More”
16 Tech’s 60-Acre Innovation Community Coming Soon to Downtown Indy
In case you’ve missed it, the Indianapolis tech community is booming. Indy is one of 20 finalists for Amazon’s second American headquarters, Salesforce’s 2015 acquisition of homegrown startup ExactTarget continues to have ripple effects as former execs seed new startups, talent is flocking to the Midwest after being priced out of the coasts, and out-of-state … Continue reading “16 Tech’s 60-Acre Innovation Community Coming Soon to Downtown Indy”
Toyota Sees Opportunity to Lead Industry on Safe Mobility Innovations
When a self-driving Uber car killed a pedestrian in Tempe, AZ, a few months ago, it shook up the mobility industry. The accident served as a gut check, and it sent already tenuous rates of consumer acceptance plummeting. One of the main benefits associated with driverless cars is safety, but it’s hard for riders to … Continue reading “Toyota Sees Opportunity to Lead Industry on Safe Mobility Innovations”
Therapy.Live’s PrepareU Offers Proactive Tools to Halt Teen Suicide
Americans are living through interesting times. Our politics have rarely been more polarized, income inequality continues to grow, gun violence is rampant, life expectancy has been in decline for several years, and deaths of despair—those resulting from things like suicide or drug overdose—continue to rise. What’s a thinking, feeling person to do? If you’re Ryan … Continue reading “Therapy.Live’s PrepareU Offers Proactive Tools to Halt Teen Suicide”
Structural Snags $2.5M Investment to Fund Growth and Augment Platform
Structural, an employee-data management startup based in Indianapolis and the Twin Cities, today announced that it has raised $2.5 million in an equity investment round, with backing from High Alpha, Revolution’s Rise of the Rest Seed Fund, Matchstick Ventures, the Syndicate Fund, and Great North Labs. The 15-person company has raised just under $5 million … Continue reading “Structural Snags $2.5M Investment to Fund Growth and Augment Platform”
Michigan Mobility Challenge Designed to Address Transportation Gaps
Each year, at the end of May, Michigan’s government, industry, and nonprofit leaders get together on Mackinac Island for a few days to discuss the day’s most pressing political issues. It’s a popular place to announce new policies and programs. This year, Gov. Rick Snyder used the Mackinac gathering to unveil the Michigan Mobility Challenge, … Continue reading “Michigan Mobility Challenge Designed to Address Transportation Gaps”
Hc1 Snags $7M Series B, Partners with Appriss on Opioid Dashboard
Hc1.com, the Indianapolis startup focused on healthcare relationship management and data analytics, recently scored $7 million in new capital to expand its presence in the market and drive further adoption of its products, including the company’s software dashboard for analyzing opioid use. The Series B round was led by Health Cloud Capital with participation from … Continue reading “Hc1 Snags $7M Series B, Partners with Appriss on Opioid Dashboard”
Japan’s SoftBank Pours $2.5B into GM’s Self-Driving Division
General Motors’ stock price was cruising after news broke this morning that Japanese holding company SoftBank has invested $2.25 billion into the automaker’s driverless vehicle division. Once the deal closes, GM (NYSE: [[ticker:GM]]) will reportedly invest an additional $1.1 billion. According to multiple news outlets, Cruise, GM’s autonomous car operation, is now expected to have … Continue reading “Japan’s SoftBank Pours $2.5B into GM’s Self-Driving Division”
Insurers Are (Slowly) Preparing for Future World of Driverless Cars
When a self-driving Uber vehicle killed a pedestrian attempting to cross a dark, Phoenix-area street in March, it served as a wake-up call to a mobility industry moving at a furious pace to advance autonomous vehicle technologies. The fatality reinforced consumer skepticism of driverless cars, as evidenced by a recent survey conducted by CarGurus (more … Continue reading “Insurers Are (Slowly) Preparing for Future World of Driverless Cars”
Pfizer, Merck Lead Strata Oncology’s $26M Series B Round
In what company leaders describe as a “huge step,” Ann Arbor, MI-based precision medicine startup Strata Oncology this week closed a $26 million Series B investment round led by Pfizer Ventures and the Merck Global Health Innovation Fund. Other contributors to the round include Deerfield Management, Renaissance Venture Capital Fund, Arboretum Ventures, and Baird Capital. … Continue reading “Pfizer, Merck Lead Strata Oncology’s $26M Series B Round”
Renaissance VC Adds $81M to Draw More Outside Capital to Michigan
Renaissance Venture Capital Fund, an Ann Arbor, MI-based fund-of-funds, has racked up another $81 million after closing its third capital round last week. The firm has raised a total of $205 million since it was established in 2008, says CEO and fund manager Chris Rizik. Renaissance invests in VC funds across the country in order to … Continue reading “Renaissance VC Adds $81M to Draw More Outside Capital to Michigan”
Amazon, Bedrock Announce Projects Tied to MI Strategic Fund Awards
Amazon will invest $150 million in a new package fulfillment center on the west side of Michigan, the tech giant announced today. Amazon (NASDAQ: [[ticker:AMZN]]) said it will lease a 100-acre site in Gaines Township from Steelcase, a Grand Rapids, MI-based furniture maker. A third-party developer will construct the facility. The Michigan Strategic Fund (MSF), … Continue reading “Amazon, Bedrock Announce Projects Tied to MI Strategic Fund Awards”
IU Spinout Vascugen Turns to Stem Cells for Blood Vessel Repair
Vascular-degenerative diseases such as critical limb ischemia are on the rise in the United States, but the millions of people affected by these disorders worldwide have limited treatment options and no cures. An regenerative medicine startup spun out of Indiana University called Vascugen is seeking to change that. Indianapolis-based Vascugen has licensed technology developed at … Continue reading “IU Spinout Vascugen Turns to Stem Cells for Blood Vessel Repair”
U-M Students, Faculty Building Driverless Shuttle with Industry Help
Late last month, the University of Michigan-Dearborn unveiled a new autonomous shuttle project called MDAS.ai, in which students and faculty will build a driverless vehicle for low-speed, pedestrian-filled environments. Made possible through a collective $100,000 contribution from Osram Opto Semiconductors, Phantom Intelligence, Jungo Connectivity, and Vergence Automation, the project is designed to help students, researchers, … Continue reading “U-M Students, Faculty Building Driverless Shuttle with Industry Help”
EntryPoint Aims to Increase Inclusion, Diversity in Startup Ecosystem
The tech industry and the investment community that funds it are notorious for being, shall we say, safe spaces for white men. The myth of meritocracy persists in the tech world even in the face of data indicating a longstanding lack of diversity and inclusion. Innovation benefits from different perspectives, backgrounds, and ideas, but it’s … Continue reading “EntryPoint Aims to Increase Inclusion, Diversity in Startup Ecosystem”
MIT’s Inclusive Innovation Challenge Is Coming to Detroit in the Fall
MIT’s Inclusive Innovation Challenge (IIC), a competition awarding more than $1 million to tech entrepreneurs driving economic opportunities for workers, is coming to Detroit. The brainchild of the MIT Initiative on the Digital Economy, the IIC seeks to find and promote startups and entrepreneurial organizations using technology to increase financial prospects for low- and moderate-income … Continue reading “MIT’s Inclusive Innovation Challenge Is Coming to Detroit in the Fall”
Silicon Valley, Detroit Need Each Other to Get Driverless Cars Humming
Last month, the University of Michigan hosted a daylong conference about the economic and social impacts of future mobility, when autonomous and connected vehicles will likely upend transportation as we know it. Because the research associated with autonomous vehicles and other mobility applications is ambiguous—with many experts having differing opinions on when and how self-driving … Continue reading “Silicon Valley, Detroit Need Each Other to Get Driverless Cars Humming”
Powderkeg on a Mission to Unite, Grow Mid-American Tech Ecosystems
The East and West coasts have historically been the center of tech startup activity in the United States. . However, there is growing interest in innovation hubs in the middle of the country, especially as the high cost of coastal living is ever more prohibitive to many young entrepreneurs. One such effort to cultivate Midwestern … Continue reading “Powderkeg on a Mission to Unite, Grow Mid-American Tech Ecosystems”
As Michigan VC Scene Matures, Funding Gaps, Diversity Are Challenges
In venture capital circles, one often hears that it’s not particularly useful to look at trends year over year; instead, analysts counsel, one should study trends in five-year cycles to get a more accurate picture of where things are. From that perspective, Michigan’s venture capital scene seems to be healthier than it was five years … Continue reading “As Michigan VC Scene Matures, Funding Gaps, Diversity Are Challenges”
Ascape Audio Debuts iPhone Battery Case with Built-In Wireless Earbuds
When we last checked in with Paul Schrems and the team behind Turtle Cell, the Ann Arbor, MI-based consumer electronics startup, it was the summer of 2014. After coming off a year of iteration and business-competition wins, as well as a stint in the University of Michigan’s Desai Accelerator, the company was preparing for a … Continue reading “Ascape Audio Debuts iPhone Battery Case with Built-In Wireless Earbuds”
Tome, Trek, Ford Collaborate on Bike-to-Vehicle Safety Standards
Last fall, Royal Oak, MI-based software startup Tome teamed up with Ford and Wisconsin’s Trek to work on B2V (bike-to-vehicle) technology that will help self-driving cars to better perceive cyclists on the road. Tome CEO Jake Sigal, a passionate cyclist who spends much of his free time biking, says teaching cars to see and anticipate … Continue reading “Tome, Trek, Ford Collaborate on Bike-to-Vehicle Safety Standards”
Duo CEO Says New Detroit Office is Chance to Learn, Grow & Engage
Duo Security, the cybersecurity startup valued at just over $1 billion, has offices in Michigan, Texas, California, and the United Kingdom. It could have chosen anywhere on Earth to locate its newest outpost, announced last month, but the company chose Detroit. In a city hungry for opportunities with loads of innovation in its DNA, it … Continue reading “Duo CEO Says New Detroit Office is Chance to Learn, Grow & Engage”
Toyota Research Institute to Open New Driverless Car Test Bed in MI
The state of Michigan notched another mobility-industry win today when the Toyota Research Institute (TRI) announced that a 60-acre parcel in Ottawa Lakes, MI, will be the home of a new autonomous vehicle development and testing facility, the first dedicated exclusively to TRI’s use. TRI is Toyota’s research arm, which aims to enhance the safety of … Continue reading “Toyota Research Institute to Open New Driverless Car Test Bed in MI”
New LLamasoft CEO Plans to Exploit Retail, Transportation Disruptions
Even though it’s been around for two decades, Ann Arbor, MI-based LLamasoft is one of the state’s biggest tech startup success stories. Llamasoft says its software optimizes the design of supply chains, enabling large, complex businesses to find ways to improve operations, lower risk, save money, and make faster decisions.The company has 400 employees in … Continue reading “New LLamasoft CEO Plans to Exploit Retail, Transportation Disruptions”
Salesforce, SupplyKick, Springbuk Among Big Winners at Mira Awards
On Saturday, TechPoint, a nonprofit working to grow Indiana’s technology ecosystem, hosted its annual Mira Awards gala. The Miras honor the best and brightest in the Indiana tech community and cover a range of categories. With more than 1,300 attendees, TechPoint says its 19th annual Mira Awards gala was the biggest in the organization’s history. … Continue reading “Salesforce, SupplyKick, Springbuk Among Big Winners at Mira Awards”
Amid #MeToo, MI Women’s Foundation Rebrands to Better Reflect Mission
The Michigan Women’s Foundation has a new name and an energized mission. Now called Michigan Women Forward (MWF), the rebranding was officially launched earlier this week in front of a crowd of 800 at Detroit’s Cobo Center. Carolyn Cassin, MWF’s CEO, explains that given the big moment women’s issues are currently having on the national … Continue reading “Amid #MeToo, MI Women’s Foundation Rebrands to Better Reflect Mission”
Roundup: Genomenon, Develop(her), QL Demo Day, MBA Summit & More
Michigan’s innovation community continues to pump out news at a steady clip. Here are some of the latest updates from around the state. —Ann Arbor’s Genomenon, a startup focused on genomic search data, has struck a new partnership with Boston’s Rhythm Pharmaceuticals (NASDAQ: [[ticker:RYTM]]), a company working on treatments for rare obesity disorders. They will team up … Continue reading “Roundup: Genomenon, Develop(her), QL Demo Day, MBA Summit & More”
After $1.5M Series A, Upper Hand Plans to Grow Sports Management Biz
Upper Hand, the Indianapolis startup focused on sports management software and business services, announced earlier this month that it has snagged $1.5 million in Series A funding from Houston, TX-based Park Ten Capital. Company co-founder and CEO Kevin MacCauley came to the sports management sector a few years ago after a stint coaching Little League.“I … Continue reading “After $1.5M Series A, Upper Hand Plans to Grow Sports Management Biz”
Ford Offers Non-Emergency Medical Transport with New GoRide Service
Proponents of mobility and autonomous vehicle technologies say those innovations have a lot of humanity-improving potential. Self-driving cars will dramatically reduce congestion and accidents, they say, and will allow elderly and disabled people to get around more independently. One future scenario imagines residents of a retirement community requesting rides from a community-owned autonomous shuttle using … Continue reading “Ford Offers Non-Emergency Medical Transport with New GoRide Service”
Detroit Tech School Trains Vets, Returning Citizens for Tech Careers
Tucked away in Southwest Detroit, not too far from the geodesic Buckminster Fuller domes built by Jack White’s brother, sits the Detroit School of Digital Technology (DSDT). Unlike many other tech schools, DSDT is a woman-owned organization that specializes in training veterans, residents returning home from being incarcerated, and other adults for a career in … Continue reading “Detroit Tech School Trains Vets, Returning Citizens for Tech Careers”
DemandJump Raises $6M for Marketing Tech Focused on Where, Not Who
DemandJump, the Indianapolis-based marketing software startup, has raised a $6 million Series A round of financing. Investing in the round were Steve Case’s Rise of the Rest Fund, Flyover Capital, Cultivation Capital, 4G Ventures, Sigma Prime Ventures’ managing director Bob Davoli, and Hyde Park Venture Partners. Since the company was founded in 2015, it has … Continue reading “DemandJump Raises $6M for Marketing Tech Focused on Where, Not Who”
Sonodontics, Locker Lifestyle Win Big at GreenLight Competition
We have a smaller startup ecosystem in Michigan, and that sometimes makes it seem like the same companies are always pitching at startup competitions. That was not the case with this year’s installment of the GreenLight Business Competition, which featured 20 startups from around the state presenting their business plans to a panel of expert … Continue reading “Sonodontics, Locker Lifestyle Win Big at GreenLight Competition”
Karamba Security Snags $10M from WTI, Contemplates Acquisition Targets
Karamba Security, an automotive cybersecurity startup based in Hod Hasharon, Israel, and Bloomfield Hills, MI, announced this week that it has closed on $10 million in financing from Silicon Valley’s Western Technology Investment. That brings the total amount raised to $27 million since the company’s 2016 inception. David Barzilai, Karamba’s co-founder and executive chairman, says … Continue reading “Karamba Security Snags $10M from WTI, Contemplates Acquisition Targets”
InterVision Buys Bluelock, Plans to Grow Disaster Recovery Services
Bluelock, the Indianapolis “disaster-recovery-as-a-service” startup, has been acquired by InterVision, a managed IT consultancy headquartered in St. Louis, MO, and Santa Clara, CA. The financial terms of the deal were not disclosed. Bluelock CEO Christopher Clapp says he and one of the company’s founders will be using Bluelock’s sale “as an opportunity to do a … Continue reading “InterVision Buys Bluelock, Plans to Grow Disaster Recovery Services”
Movatic Allows Hardware Makers to Tap into Shared Mobility Market
When Ansgar Strother co-founded A2B Bikeshare in 2012, he was on a mission to make bike-sharing more affordable and accessible. The company’s approach involved a kiosk-free “smart bike, dumb rack” model that put the technology of a rental kiosk onto the bike itself through a touchscreen interface mounted on the handlebars, allowing customers to pay … Continue reading “Movatic Allows Hardware Makers to Tap into Shared Mobility Market”
BioCrossroads Report: Life Science Sector Thriving, With Room to Grow
BioCrossroads, Indiana’s public-private initiative to grow the state’s life sciences sector, has a new report highlighting the industry’s economic activity in 2017 based on data from Indiana University. According to the report, Indiana’s life sciences sector continues to expand in a couple of key areas, including the number of companies created, the number of new … Continue reading “BioCrossroads Report: Life Science Sector Thriving, With Room to Grow”
After a Year of Growth Milestones, Duo Security Opens Detroit Office
Duo Security, a cybersecurity startup based in Ann Arbor, MI, announced today that it is opening a new office in Detroit to accommodate the company’s rapidly growing business. Duo plans to immediately relocate 30 employees from the company’s engineering, information services, and product teams to work downtown in Bamboo Detroit’s co-working space. By the end … Continue reading “After a Year of Growth Milestones, Duo Security Opens Detroit Office”