The World Wide Web is at a crossroads. For all the benefits it has brought society over the past three decades—faster and easier communication, instant knowledge access, a seemingly inexhaustible marketplace of goods and services—the Web has also morphed into an “engine of inequity and division,” according to its inventor, Tim Berners-Lee (pictured above). In … Continue reading “Tim Berners-Lee Building Inrupt to Fix the Web—Will Users Come?”
Category: Detroit
Planes, Drones & Automobiles: Techstars Grads Run the Mobility Gamut
On Tuesday afternoon, before a packed house at the Detroit Institute of Art’s film theatre, 11 startups just finishing a summer stint in the Techstars Mobility accelerator program took to the stage to talk more about what their companies were developing. Company founders pitched to a crowd of investors, entrepreneurs, automotive and tech executives, and … Continue reading “Planes, Drones & Automobiles: Techstars Grads Run the Mobility Gamut”
Anaplan Ups Estimate For Its IPO Haul; Allogene IPO Raises $288M
San Francisco-based Anaplan, one of five companies planning to close initial public offerings this week, raised the expected price range for its shares in an SEC filing Wednesday, signaling an IPO that could be richer than it had anticipated. Enterprise planning software company Anaplan, which is privately valued at more than $1.4 billion, had originally … Continue reading “Anaplan Ups Estimate For Its IPO Haul; Allogene IPO Raises $288M”
U.S. Venture Capital Deals on Pace to Exceed $100B in 2018
Once considered a passing phase, the concentration of capital into fewer, larger venture capital deals appears to be the new normal. Fueled by so-called mega-funds, investment in U.S.-based venture-backed companies as of the end of the third quarter hit a decade high, and is on pace to pass the $100 billion mark by year’s end. … Continue reading “U.S. Venture Capital Deals on Pace to Exceed $100B in 2018”
With a $10.2M Boost, YourMechanic Aims at Mobility Fleet Market
Every month, there’s news of another partnership among carmakers like GM and tech companies such as Uber, as they vie for dominant roles in a transportation future where individual car ownership may largely give way to rides-on-demand from fleets of autonomous and tech-enabled vehicles. But whether Uber, Toyota, GM, Honda, or Google end up at … Continue reading “With a $10.2M Boost, YourMechanic Aims at Mobility Fleet Market”
New VARI Initiative Aims to Understand How Metabolism Drives Disease
Back in the 1990s, dietary fat was considered “Enemy Number One.” In the late ’80s, new research had found that a diet high in saturated fat was a major cause of poor health, so a low-fat food craze was born. Cookies, crackers, cake, ice cream, bread—just about everything had a low-fat version in the ’90s. … Continue reading “New VARI Initiative Aims to Understand How Metabolism Drives Disease”
Bio Roundup: Nobel Prizes, Duchenne Steps, Guardant’s IPO & More
Cancer immunotherapy is all the rage these days. The idea of harnessing the immune system to treat cancer has sparked billions of dollars in research, led to a vast matrix of clinical trials, and started to change the way how several cancers are treated. The reason: When it works, cancer immunotherapy can lead to longer-lasting … Continue reading “Bio Roundup: Nobel Prizes, Duchenne Steps, Guardant’s IPO & More”
ClimaCell Grabs $45M for Weather Data for Airlines, Driverless Cars
Aviation, public utilities, and insurance are among the old-line industries that rely on accurate weather forecasts and monitoring to make crucial decisions for their operations. Now, advances in artificial intelligence and other technologies are creating uses for weather data in new sectors—think ride-hailing services, drones, and self-driving cars. That’s according to ClimaCell, a Boston-based startup … Continue reading “ClimaCell Grabs $45M for Weather Data for Airlines, Driverless Cars”
Cloudera, Hortonworks Plan to Merge as $5.2B Cloud Data Platform
Cloudera and Hortonworks, two large, publicly traded companies that compete to offer Web-based data storage and analytics, announced plans today to merge into a combined entity they value at $5.2 billion. Share prices for the two Silicon Valley companies spiked in after-hours trading following the announcement Wednesday that both their boards approved the all-stock deal. Palo … Continue reading “Cloudera, Hortonworks Plan to Merge as $5.2B Cloud Data Platform”
Honda to Invest $2.75 Billion in Cruise, GM’s Driverless Car Subsidiary
Partnerships between major companies traditionally seen as competitors are a hallmark of the mobility industry, and today marked the announcement of one more: Honda will pay $2.75 billion and take a 5.7 percent stake in Cruise, GM’s autonomous vehicle subsidiary. As part of the deal, Honda will also lend its engineering expertise to GM’s driverless … Continue reading “Honda to Invest $2.75 Billion in Cruise, GM’s Driverless Car Subsidiary”
Detroit’s GuardHat Snags $20M Series A for Industrial IoT Platform
Hundreds of people in the U.S. die from industrial accidents every year, according to federal data. Part of the reason manufacturing jobs remain so deadly, argues GuardHat co-founder and CEO Saikat Dey, is because the sector’s technology has not progressed as rapidly as it has in the enterprise software and consumer tech markets. This week, … Continue reading “Detroit’s GuardHat Snags $20M Series A for Industrial IoT Platform”
Peerstachio Aims to Help College Students Access Help From Classmates
Scarlett Ong Rui Chern, an international student attending the University of Michigan, says she initially felt a little discombobulated by the college experience. “I had a rough first year,” she admits. What she wanted back then was an on-demand network of peer advisors she could call on for help. Not finding exactly what she was … Continue reading “Peerstachio Aims to Help College Students Access Help From Classmates”
Findera Tries a Pivot Amid a Whirlwind Over Data Privacy Rules
Early last year, the San Francisco startup Yozio decided it would have to scuttle its core mission, despite having attracted marquee customers including Pinterest and Airbnb within only a few years. The problem was, there turned out to be too few such websites with the size and sophistication to use Yozio’s app-optimization tools to advantage, … Continue reading “Findera Tries a Pivot Amid a Whirlwind Over Data Privacy Rules”
XRC Labs Showcases Retail Tech Innovations in VR, AI, Big Data
XRC Labs, an accelerator program focused on e-commerce and retail startups, held a demo day for its latest class Thursday, featuring innovations in artificial intelligence, virtual reality, and other technologies. The group of 10 startups is the sixth class for New York-based XRC, which was founded three years ago to promote innovation in the disruptive … Continue reading “XRC Labs Showcases Retail Tech Innovations in VR, AI, Big Data”
Bio Roundup: Amarin’s Stunner, Lung Cancer News, Data Dumps & More
Six years ago, a biotech called Amarin won FDA approval of a prescription fish-oil pill, Vascepa, because it could lower triglycerides, a type of fat in the blood. But Amarin didn’t have the evidence that lowering triglycerides with fish oil would really help people. Sales lagged. Amarin’s shares sank. While other groups tested other fish … Continue reading “Bio Roundup: Amarin’s Stunner, Lung Cancer News, Data Dumps & More”
Six Life Science Firms Close Q3 with an IPO, More Are on the Way
The window for life science IPOs is still open, and five biotechs and one medical device company chose the last week of the third quarter to make their stock market debuts. Gritstone Oncology (NASDAQ: [[ticker:GRTS]]) closed out the week by raising $100 million in an upsized IPO. On Thursday night, Emeryville, CA-based Gritstone priced its … Continue reading “Six Life Science Firms Close Q3 with an IPO, More Are on the Way”
Where Can Influential Companies Go to Meet Exceptional Black VCs?
Culture Shifting Weekend—a November 1-3 invitation-only summit, presented by Culture Shift Labs (CSL)—will offer a rare opportunity for leading companies and investors to meet, vet, and fund the fast-growing ecosystem of Black venture capitalists and VC firms. Hosted at Infor in New York City, Culture Shift Lab’s annual three-day event will enable institutional investors, social … Continue reading “Where Can Influential Companies Go to Meet Exceptional Black VCs?”
Author Hits Detroit to Discuss Dangers of Automating Public Assistance
There are few life events more stressful than suddenly losing a job. One of the safety net measures in place for displaced workers is unemployment insurance: reoccurring, state-administered benefit checks that eligible workers receive for a few months while trying to get back on their feet. That’s how the system is supposed to work, anyway. … Continue reading “Author Hits Detroit to Discuss Dangers of Automating Public Assistance”
WaveSense Uses Ground-Penetrating Radar to Help Driverless Cars See
Those of us keeping tabs on the mobility industry have heard a lot about the development of sensors and other computer vision technologies to help autonomous vehicles “see” and interpret the landscape around them. WaveSense, a startup spun out of MIT, is adding ground-penetrating radar to the mix, which the company says could increase navigation … Continue reading “WaveSense Uses Ground-Penetrating Radar to Help Driverless Cars See”
Two Gemphire Execs Caught in Layoffs After Clinical Trial Setbacks
Gemphire Therapeutics is laying off five, including two executives, as the company grapples with clinical trial setbacks for its lead drug candidate. Chief Financial Officer Jeffrey Mathieson and Chief Medical Officer Lee Golden have left Livonia, MI-based Gemphire (NASDAQ: [[ticker:GEMP]]), though the company says Mathieson agreed to consult with the company on financial and accounting … Continue reading “Two Gemphire Execs Caught in Layoffs After Clinical Trial Setbacks”
How Groups Are Closing the Security Skills Gap, Boosting Diversity
Today, there is a massive shortage of cybersecurity talent across the globe. According to a 2015 study from Frost & Sullivan and the (ISC)² Foundation, there could be more than 1.5 million unfilled cybersecurity positions globally by 2020. As cybersecurity attacks and data breaches, unfortunately, become a matter of not if but when, security talent … Continue reading “How Groups Are Closing the Security Skills Gap, Boosting Diversity”
Bio Roundup: Little Rhody, More for Migraine, Opioid Bills & More
The U.S. Senate had a rare moment of agreement, overwhelmingly passing a package of opioid-related bills. Up the East Coast, life-science players in Rhode Island are working to bring different local factions together and boost the state’s economy. Across the country, a similar effort is underway in Los Angeles. There were also plenty of headlines … Continue reading “Bio Roundup: Little Rhody, More for Migraine, Opioid Bills & More”
Convoy Reloads With $185M For Its Freight Shipment Marketplace
Convoy, an online marketplace that connects shippers with freight truck fleets and independent drivers, announced today it raised $185 million in a Series C fundraising round led by CapitalG, the growth equity investment fund of Alphabet, Google’s parent company. With its new funding, Seattle-based Convoy plans to continue expanding its network of customers and truckers … Continue reading “Convoy Reloads With $185M For Its Freight Shipment Marketplace”
MIT Inclusive Innovation Challenge to Honor Winners at Detroit Event
Technology has been transforming the way we work for decades, and MIT believes figuring out how to leverage it to rethink jobs and community prosperity is a grand technological challenge of our time. To respond to what the university calls an “economic and moral imperative,” it created the Inclusive Innovation Challenge (IIC), which lands in … Continue reading “MIT Inclusive Innovation Challenge to Honor Winners at Detroit Event”
Mi Padrino Builds Event-Planning Hub for Latino Communities in U.S.
Kim Gamez, CEO and co-founder of the Ann Arbor, MI-based startup Mi Padrino, is a self-described “all-American Gringa” who grew up in farm country. She fell in love with Hispanic culture as she got to know her husband Hugo, a native of San Luis Potosi, Mexico. One of her favorite traditions was that of the … Continue reading “Mi Padrino Builds Event-Planning Hub for Latino Communities in U.S.”
May Mobility Rolling Out Self-Driving Shuttles in Ohio’s Capital
May Mobility, the Detroit-based startup putting self-driving shuttles on urban streets, today announced it will soon begin operations in a new city: Columbus, OH. May has operated autonomous shuttles in downtown Detroit since June, providing transportation to employees of Bedrock, a private company. By contrast, May’s Ohio shuttles will be open to the public, says … Continue reading “May Mobility Rolling Out Self-Driving Shuttles in Ohio’s Capital”
In Boston’s Shadow, Rhode Island Fights for Life Science Jobs, Respect
[Updated 9/19/18, 3:40 p.m. See below.] Tiny Rhode Island and its capital city Providence have always punched above their weight, for better or for worse. Better: Little Rhody’s founder Roger Williams, fleeing religious persecution in 17th-century puritanical Massachusetts, was one of America’s first abolitionists and created the concept of the separation of church and state. … Continue reading “In Boston’s Shadow, Rhode Island Fights for Life Science Jobs, Respect”
UiPath Snags $225M To Expand Robotic Workforce for Businesses
Top venture capital firms continue to pour money into software robotics companies that promise to automate monotonous business operations, like processing mortgage applications, that are often performed by humans. New York-based UiPath is the latest such company to score a haul, announcing Tuesday it raised $225 million in a Series C funding round co-led by … Continue reading “UiPath Snags $225M To Expand Robotic Workforce for Businesses”
Belinsky Gifts $500K to WSU to Create Lab for Student Entrepreneurs
In August, Wayne State University held a ribbon-cutting ceremony for its new Mike Ilitch School of Business, a $40 million, state-of-the-art facility in Detroit’s Midtown neighborhood. The business school announced another piece of good news this summer when alumnus Russ Belinsky donated $500,000 to establish the Belinsky Entrepreneurial Learning Library, which aims to kick-start student … Continue reading “Belinsky Gifts $500K to WSU to Create Lab for Student Entrepreneurs”
The Rise of Robocalls and Cell Scams—and How to Stop Them
[Updated 9:15 a.m., see below.] Jen King was in a hurry to get out the door of her Bay Area home on a recent morning, and she missed a call to her cell phone because of it. The phone number that called her, she later discovered, was startling. “It was my home phone calling me, … Continue reading “The Rise of Robocalls and Cell Scams—and How to Stop Them”
Bio Roundup: CRISPR Ruling, “America’s Nobels,” IPOs & More
The long-running patent feud over CRISPR-Cas9 gene editing appears to be over, just as U.S. biotech companies gear up for the first human tests of the landmark technology. This week, a federal appeals court upheld a previous ruling handing a CRISPR-Cas9 patent to the Broad Institute of MIT and Harvard. The decision by the three-judge … Continue reading “Bio Roundup: CRISPR Ruling, “America’s Nobels,” IPOs & More”
With Cornershop, Walmart Expands On-Demand Delivery to Latin America
Walmart is taking the e-commerce delivery business south of the border. The Bentonville, AR, retailer announced Thursday it has acquired Cornershop, an on-demand online service that delivers products from supermarkets, pharmacies, and specialty shops in Mexico and Chile, for $225 million. “We are focused on making life easier for customers and associates by building strong … Continue reading “With Cornershop, Walmart Expands On-Demand Delivery to Latin America”
Detroit’s StockX Raises $44M Funding Round, Plans to Hire 1,000
StockX, the online “stock market of things” focused on sneakers and other high-demand, limited-edition products, has closed one of the largest investment rounds raised by a Detroit startup and announced yesterday that it now plans to go on a major hiring spree. The news came from StockX CEO Josh Luber during a keynote speech at the … Continue reading “Detroit’s StockX Raises $44M Funding Round, Plans to Hire 1,000”
Living on the Edge: Amazon, AT&T, Packet Pursue “Cloudlet” Computing
The word “cloud”—as in cloud computing, and cloud storage—has served as a handy shorthand term, but it has always been inherently vague and a little misleading. When businesses and consumers use a cloud service provider like Amazon Web Services or Apple’s iCloud, their data, photos, and music don’t get processed in the misty skies above … Continue reading “Living on the Edge: Amazon, AT&T, Packet Pursue “Cloudlet” Computing”
Don’t Fear the Robot: Humatics, Eckhart Push Factory Automation Tech
The state of American manufacturing has become an increasingly hot topic of conversation since the 2016 presidential election laid bare the discontent felt by workers and business owners alike. However, companies like Algonac, MI-based Eckhart and Cambridge, MA-based Humatics see an opportunity to reinvigorate American manufacturing through so-called “Industry 4.0” technologies—automated, connected, and collaborative tools … Continue reading “Don’t Fear the Robot: Humatics, Eckhart Push Factory Automation Tech”
Bio Roundup: A Gene Editing 1st, China Rises, Schenkein Steps Away
If you’re still recovering from a Labor Day hangover or busy searching for the identity of the anonymous writer of the anti-Trump op-ed for the New York Times, you may have missed a few biomedical firsts. This week brought the first sliver of human data from an in-body gene editing procedure, and the results were … Continue reading “Bio Roundup: A Gene Editing 1st, China Rises, Schenkein Steps Away”
Roundup, Part II: CityLab Detroit, U-M, Small Business Murals, More
We’re back after the long Labor Day weekend with part two of a roundup of recent Michigan innovation news. To see part one, click here. —CityLab, a global summit organized by The Atlantic magazine, the Aspen Institute, and Bloomberg Philanthropies to address urgent urban issues, has chosen Detroit as the location of its 2018 conference. … Continue reading “Roundup, Part II: CityLab Detroit, U-M, Small Business Murals, More”
Bio Roundup: Pfizer’s Rare Results, U.K.’s CAR-T No, IPO Go-Go & More
Before you head out for the final summer getaway, catch up on the week’s headlines. Pfizer upped the ante in the field of transthyretin amyloidosis (ATTR) treatment, where competition to treat the rare disease has grown increasingly complex. We’ll start with what was—and wasn’t—in Pfizer’s data release Monday, top up with more ATTR news, then … Continue reading “Bio Roundup: Pfizer’s Rare Results, U.K.’s CAR-T No, IPO Go-Go & More”
Wireless Internet Firms Take On Big Telecoms in Cities and Suburbs
If you’re a city dweller, and unhappy with the big company that provides your Internet connection, chances are good there’s a scrappy little outfit that thinks it can do better for you. Metropolitan areas have become target territories for the wireless Internet service providers, or WISPs, that for a long time have been the only … Continue reading “Wireless Internet Firms Take On Big Telecoms in Cities and Suburbs”
Rivaling Google, Web-Mining Diffbot Opens Its Knowledge Graph to All
Diffbot, a tech startup that continuously scours the Web to assemble a “knowledge graph” of billions of facts in context, announced today that it’s opening up the searchable resource to the public—with starter rates as low as a cable TV bill. Mountain View, CA-based Diffbot gleans unstructured data scattered across websites, ads, blog posts, videos, … Continue reading “Rivaling Google, Web-Mining Diffbot Opens Its Knowledge Graph to All”
Roundup, Part I: TechHire Bootcamp, Genomenon, Leading2Lean, Cengage
Time flies when you’re working hard. Although summer is nearly over, Michigan’s startup clusters keep humming along. In fact, so much is happening, we’ve divided this roundup into two parts. Part two will run Sept. 4. Read on for recent innovation news from around the state. —Detroiters age 18 and older have until Friday to … Continue reading “Roundup, Part I: TechHire Bootcamp, Genomenon, Leading2Lean, Cengage”
With $500M Toyota Deal, Uber Sheds Go-It-Alone Driverless Car Goal
When an autonomous Uber car being tested in Arizona collided with a pedestrian last March, it resulted in the first known fatality caused by a driverless vehicle. The accident had a jarring effect on the entire mobility industry, but Toyota was one of the few players that took direct action in the wake of the … Continue reading “With $500M Toyota Deal, Uber Sheds Go-It-Alone Driverless Car Goal”
Puls Snags $50M to Grow On-Call Repair Service for Smartphones, IoT
Puls Technologies, whose on-demand technicians repair broken smartphones and install connected home devices, announced today it has raised $50 million to expand its reach as a unified source of device maintenance and consumer support. San Francisco-based Puls, founded in 2015, offers to dispatch technicians quickly to a customer’s home or office to replace malfunctioning parts, … Continue reading “Puls Snags $50M to Grow On-Call Repair Service for Smartphones, IoT”
Grand Angels Kicks Off Third Fund Targeting $25M to Seed Startups
Grand Angels, the West Michigan angel investing collective, is raising a third venture fund, called Grand Angels Venture Fund III. Paul D’Amato, a member of the group and the manager of GA Fund III, says the goal is to raise $25 million. As in previous Grand Angels funds, it will focus on advancing startups working … Continue reading “Grand Angels Kicks Off Third Fund Targeting $25M to Seed Startups”
Bio Roundup: EpiPen Shortage, Bluebird’s Bet, Biotech IPOs & More
It’s back-to-school season and that means it’s time to load up on school supplies. For many students and schools, one crucial item is in high demand but hard to come by: the EpiPen. Some schools stock the epinephrine autoinjectors so they can respond quickly to a student’s allergic reaction to food. Though the autoinjectors are … Continue reading “Bio Roundup: EpiPen Shortage, Bluebird’s Bet, Biotech IPOs & More”
Meet the Startups Participating in Techstars Mobility’s Class of 2018
Detroit’s Techstars Mobility accelerator has announced its new cohort of startups working to advance technologies related to the movement of people and goods. Eleven companies are participating in the program this year, and, in a Medium post, program director Ted Serbinski said all of them have “diverse founding teams in regards to gender, ethnicity, or … Continue reading “Meet the Startups Participating in Techstars Mobility’s Class of 2018”
Wayne State Celebrates the Opening of $40M Ilitch School of Business
A gaggle of local officials were on hand Tuesday for a ribbon-cutting ceremony at Wayne State University’s Mike Ilitch School of Business building, located next to Little Caesars Arena on Woodward Avenue in Detroit’s Midtown neighborhood. The new facility was made possible by a $40 million donation in 2015 from Mike and Marian Ilitch, the co-founders … Continue reading “Wayne State Celebrates the Opening of $40M Ilitch School of Business”
Facebook, NYU Pin Hope of Faster MRIs on Artificial Intelligence
The long, sometimes painful wait to complete an MRI may soon be cut down dramatically—and we might have Facebook and its artificial intelligence unit to thank for it. The social media giant announced Monday that it is working with the radiology department at New York University’s School of Medicine to potentially use artificial intelligence software … Continue reading “Facebook, NYU Pin Hope of Faster MRIs on Artificial Intelligence”
United Way and 24G Team Up on Digital Simulation to Teach Empathy
We’ve heard a lot, especially since the presidential election in 2016, about how technologies like social media are effectively reducing empathy and harming civil discourse. But what if technology could instead be used to stoke a better appreciation of the daily struggles others are going through? That’s the goal behind 24G’s “The Cost of Living,” … Continue reading “United Way and 24G Team Up on Digital Simulation to Teach Empathy”
Would Uber’s IPO Be a Revival or a Reckoning?
In its early years, Uber was a headstrong force knocking down preconceived ideas about transportation and, along with Lyft, sparking the imaginations of countless entrepreneurs who are now building a new industry called “mobility.” As it closes in on its first decade, Uber is a conundrum: A Silicon Valley unicorn with $7.3 billion in cash, … Continue reading “Would Uber’s IPO Be a Revival or a Reckoning?”