Jennifer Fonstad and Theresia Gouw launched Aspect Ventures with their own money in February 2014—and have hardly looked back. “We closed our first investment that first week,” Fonstad says. The pair went on to make a number of investments that first year before deciding to raise funds more formally from outsiders, like a conventional venture … Continue reading “Aspect Venture’s Jennifer Fonstad on Hot Areas of Tech, Diversity, & More”
Category: Detroit
With Acorda Data, Experts Weigh the Benefits of New Parkinson’s Drugs
Levodopa, the gold-standard medicine for Parkinson’s disease, has helped millions of patients since the 1970s manage the neurodegenerative disease. But there’s a caveat. Nothing is available that can slow or reverse the loss of brain cells, and what’s more, levodopa’s effects wane over time. So-called “off” episodes, when the drug isn’t working, can become more … Continue reading “With Acorda Data, Experts Weigh the Benefits of New Parkinson’s Drugs”
Savari Raises $12M To Connect Cars To Stoplights, Phones, Each Other
Savari, whose technology is designed to create a shared communications web among cars, personal devices, and roadway signals, announced today it has raised $12 million in a Series B fundraising round. Santa Clara, CA-based Savari makes V2X technology—that is, software and hardware sensor units designed to connect vehicles to everything that moves, so they can … Continue reading “Savari Raises $12M To Connect Cars To Stoplights, Phones, Each Other”
After Mishap in Fall, Madison Driverless Shuttle Demos Get Another Go
Five months after a mishap involving a delivery truck thousands of miles away prompted the cancellation of a scheduled driverless shuttle demonstration in Madison, WI, people living in and around the city have another chance to experience the potential future of transportation firsthand. On Tuesday and Wednesday, members of the public can ride in an … Continue reading “After Mishap in Fall, Madison Driverless Shuttle Demos Get Another Go”
Techstars Alexa Firms Address Settings Where Voice Is ‘Most Natural’
Smart speakers are becoming increasingly common in our homes. Users can instruct these devices to order takeout, give the weather forecast, or turn on or off various Internet-connected devices. The Consumer Technology Association estimates that nearly 44 million voice-enabled assistants will be sold this year in the United States. Unit sales rose 279 percent from … Continue reading “Techstars Alexa Firms Address Settings Where Voice Is ‘Most Natural’”
Trade War Looming, 3D Printing Startup Formlabs Ups China Investment
Formlabs sees China as one of the keys to expanding 3D printing technology’s role in manufacturing, and the Massachusetts-based startup plans to grow its business there with the help of a recent $30 million venture funding round and some new investors located in China. Xconomy reported Formlabs’ latest investment in early April after spotting a … Continue reading “Trade War Looming, 3D Printing Startup Formlabs Ups China Investment”
Using Analytics, Fitcode Aims to Connect Shoppers to Jeans That Fit
There are few things more universal in wardrobes the world over than blue jeans. But they are also the number one item that is returned by online shoppers, says Rian Buckley, founder and CEO of Fitcode. “Fit is the number one purchase driver and reason to return,” she says. For many of us, the idea … Continue reading “Using Analytics, Fitcode Aims to Connect Shoppers to Jeans That Fit”
Bio Roundup: Hope for Lungs, Bradner’s Complaint, FDA Nods & More
The biggest news this week was in oncology, hands down. Merck showed that its immunotherapy pembrolizumab (Keytruda) might become a common option for many patients newly diagnosed with advanced lung cancer, but the bigger picture is that the field is moving fast. While pembrolizumab notched the headline-grabbing data, others are also working to develop options … Continue reading “Bio Roundup: Hope for Lungs, Bradner’s Complaint, FDA Nods & More”
Want to Find Stellar Software Engineers in the Midwest? Here’s How
It may seem obvious that companies in the Midwest face challenges attracting and retaining talent, given our weather and location far from the coasts. One need only to look at college football recruiting, after all, to see how the average annual snowfall on campus matters almost as much as last season’s win/loss record. To some … Continue reading “Want to Find Stellar Software Engineers in the Midwest? Here’s How”
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”
Facebook: Lip Service to Privacy Is Over
As publicity-shy Facebook co-founder and CEO Mark Zuckerberg testified before both houses of Congress last week amid an avalanche of criticism about the dearth of user privacy on the world’s biggest social media network, it became crystal clear that the entire social media industry has entered a new and perilous phase. Trust in all social media … Continue reading “Facebook: Lip Service to Privacy Is Over”
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”
Cancer Wrap: Blueprint, Checkmate, More AACR News & Phase 3 Blues
The big headlines from the American Association for Cancer Research meeting in Chicago were all about the battle over the latest lung cancer data, and for good reason. Lung cancer remains the deadliest cancer, but the Phase 3 data suggest that treatment options for some of the direst cases could soon rapidly expand. There were … Continue reading “Cancer Wrap: Blueprint, Checkmate, More AACR News & Phase 3 Blues”
U.S. Funding for Biomedical Research Takes Upturn
At the end of March, Congress passed a $1.3 trillion spending bill to fund federal agencies for the rest of the fiscal year and avert another government shutdown. The 2,232-page legislation included a $3 billion funding increase for the National Institutes of Health (NIH), the second largest in the health agency’s history. Other research and … Continue reading “U.S. Funding for Biomedical Research Takes Upturn”
For More Lung Cancer Patients, the Promise of No Chemo Looms Larger
[Editor’s note: Ben Fidler co-authored this report.] A decade from now, it’s possible that immunotherapy will have made a big dent in lung cancer, which is by far the deadliest type of the disease. Drugs from several companies have worked their way forward, initially for patients who have failed chemotherapy, and now, in some cases, … Continue reading “For More Lung Cancer Patients, the Promise of No Chemo Looms Larger”
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”
Onapsis Bags $31M as U.S. Cybersecurity Funding Slows
The U.S. cybersecurity industry has seen a decline in venture capital investments recently, but Boston-area security startups are having a good week. On Tuesday, Boston-based ObserveIT said it recently pulled in a Series B investment led by Bain Capital Ventures. The Boston Business Journal reported the initial amount was $16 million, but that number could … Continue reading “Onapsis Bags $31M as U.S. Cybersecurity Funding Slows”
Bio Roundup: Lung Cancer Showdown, Gene Therapy Deals, IPO Busts
This weekend, cancer immunotherapy will once again take biopharma’s center stage. At one of the year’s big cancer meetings, investors, researchers, and many others will have a close eye on a group of presentations touting new lung cancer regimens that combine immunotherapies with other treatments. The presentations could shift the dynamics of the fast-moving landscape, … Continue reading “Bio Roundup: Lung Cancer Showdown, Gene Therapy Deals, IPO Busts”
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”
No “Pink Tax”: Billie, a Shave Club for Women, Raises $6M
[Corrected, 4/11/18, 4:48 p.m. ET. See below.] Billie, a direct-to-consumer seller of monthly shaving and body care products subscriptions, has raised $6 million in new funding. The New York-based startup, which launched in November, previously raised $2.5 million. This latest round of funding was led by Silverton Partners in Austin and included existing investors Female … Continue reading “No “Pink Tax”: Billie, a Shave Club for Women, Raises $6M”
With New Data, Drug Combos, Lung Cancer Experts Scramble to Keep Pace
When oncologist Renato Martins finished his medical training, advanced lung cancer was almost certainly a quick death sentence. “I knew, by name, every patient who had survived two years,” he says. Thanks in large part to the arrival of cancer immunotherapy, things are much different today. While lung cancer remains by far the leading cause … Continue reading “With New Data, Drug Combos, Lung Cancer Experts Scramble to Keep Pace”
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”
Expectations Rise on Q1 Surge in Venture Funding; and Top 10 Deals
[Updated 4/11/18 10:13 am. See below.] Venture capital investors poured more than $28.2 billion into U.S. companies during the first three months of 2018—marking the strongest single quarter in at least a dozen years, according to the Venture Monitor Report released today by Seattle-based PitchBook and the National Venture Capital Association (NVCA). The $28.2 billion that … Continue reading “Expectations Rise on Q1 Surge in Venture Funding; and Top 10 Deals”
E-Commerce Startups Open Door to Endless Virtual Closet
The sharing economy is moving into our bedroom closets. We already apply this idea to transportation (Uber vs. taxi) and vacation accommodations (Airbnb vs. hotel). Now, thanks to a growing number of e-commerce companies, the ability to share goods and services is being applied to our wardrobes through programs that offer clothing rentals for a … Continue reading “E-Commerce Startups Open Door to Endless Virtual Closet”
Novartis Bets $8.7B on AveXis’s Gene Therapy for Spine Disease
A gene therapy for the rare disease spinal muscular atrophy could hit the U.S. market next year. If it does, the treatment will likely be sold by Novartis, not its developer, AveXis, thanks to a deal announced early this morning. Novartis has agreed to buy AveXis (NASDAQ: [[ticker:AVXS]]) and its experimental SMA gene therapy AVXS-101 … Continue reading “Novartis Bets $8.7B on AveXis’s Gene Therapy for Spine Disease”
Xconomy Roadmap 2018: Top 15 Innovation Areas to Watch
With the first quarter in the books, it’s time to step back and lay out Xconomy’s editorial map for the rest of the year. As readers know, we strive to cover a wide range of innovation sectors, from tech and life sciences to healthcare and education—all with a mix of on-the-ground reporting, daily news stories, … Continue reading “Xconomy Roadmap 2018: Top 15 Innovation Areas to Watch”
Bio Roundup: Ex-Kiters Say Allo, NASH Cash & Data, Alkermes No & More
Happy Friday, everyone. We’ll start this week with biotech deals, one featuring a couple of CAR-T heavyweights who have re-emerged after selling Kite Pharma for $12 billion. They will try to shepherd to market a different type of the promising cancer immunotherapy: allogeneic T cells that come from donors, not from a patient’s own blood. … Continue reading “Bio Roundup: Ex-Kiters Say Allo, NASH Cash & Data, Alkermes No & More”
Cleaner Vehicles Help Make Smarter Cities
Two of the most popular terms in urban planning today are smart cities and clean energy. These concepts naturally go hand-in-hand. As cities get smarter, they use energy more efficiently and in a more controllable fashion, and they are better able to incorporate intermittent clean energy sources. Cities, and the power grids that support them, … Continue reading “Cleaner Vehicles Help Make Smarter Cities”
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”
How Next-Gen Chipmakers Are Raising Money, Taking On Tech Giants
The advent of big fundraising rounds for startup chip innovators—a class shunned by most venture capital firms only a few years ago—seems to mark a turnaround in recent VC attitudes about semiconductor investments. But it turns out VCs weren’t the only driving force behind the change in fundraising prospects for the young companies now inventing … Continue reading “How Next-Gen Chipmakers Are Raising Money, Taking On Tech Giants”
UT, Aurora Health Join Strata Oncology’s Free Genomic Testing Network
Ann Arbor, MI’s Strata Oncology launched in 2015 with a mission to help bring free tumor sequencing to as many patients as possible. To help accomplish that mission, the genomics startup has established the Strata Precision Oncology Network, a group of cancer centers collaborating to help boost access to precision medicine. Last month, Strata announced … Continue reading “UT, Aurora Health Join Strata Oncology’s Free Genomic Testing Network”
Getting Personal: Retailers Use New Tech to Court Individual Shoppers
“Personalized shopping” has long been the guiding light for retailers. But in the age of Amazon (NASDAQ: [[ticker:AMZN]]), traditional stores have been searching for the best way to digitize what was once a person-to-person process. “Internet shopping is now across mobile and Web, and now, the [question] is, ‘How do we create great experiences for … Continue reading “Getting Personal: Retailers Use New Tech to Court Individual Shoppers”
Bio Roundup: Biotech IPOs, Migraine Progress, Takeda Woos Shire & More
If the recent IPO activity seems to be on overdrive, it’s not your imagination. The number of companies filing to go public in the U.S. in the first quarter was up 44 percent compared to the same period a year ago, according to data compiled by consulting and accounting firm EY. Life science companies accounted … Continue reading “Bio Roundup: Biotech IPOs, Migraine Progress, Takeda Woos Shire & More”
Want to Hire a Kid Down the Street to do Yard Work? ToDoolie Can Help
It used to be fairly simple to hire neighborhood kids to help move heavy objects or perform other household chores for a small fee. I’m not sure if the Internet and video games are to blame, or a general degradation of American civil discourse is the reason, but it seems a lot harder to connect … Continue reading “Want to Hire a Kid Down the Street to do Yard Work? ToDoolie Can Help”
The Edge or the Cloud? It Depends on the App
There’s no arguing that the cloud has transformed the way organizations deal with data and apps. It has freed IT departments from constantly provisioning and managing storage, while bringing overall costs down. For these reasons and more, companies everywhere are moving more and more data and compute tasks to the cloud every day. It’s important, … Continue reading “The Edge or the Cloud? It Depends on the App”
Among Facebook’s Woes, EU’s Strict Privacy Laws May Loom Largest
In a continuing effort to regain the trust of its disillusioned users, Facebook on Wednesday announced new privacy controls where settings can be made from a central menu, rather than by tunneling through as many as 20 screens. As Facebook unveiled the sweeping revisions, though, it also made a striking admission: The company knew it … Continue reading “Among Facebook’s Woes, EU’s Strict Privacy Laws May Loom Largest”
Going Downhill: Roam Robotics’ Exoskeleton Supports Aging Skiers
Robotics has found its way to the ski slopes. San Francisco-based Roam Robotics has developed an exoskeleton, worn on the legs, that the company says will improve skiers’ endurance and safety while they blaze down trails. For skiers 45 or older, Roam says, the exoskeleton can provide vital support for aging knees that might be … Continue reading “Going Downhill: Roam Robotics’ Exoskeleton Supports Aging Skiers”
Invanti Seeks Entrepreneurs to Help Crack America’s Toughest Problems
When Maria Gibbs and Dustin Mix were working on degrees at the University of Notre Dame a few years ago, they noticed a gap in the local entrepreneurial ecosystem. They were used to attacking big problems as part of their university research, but they weren’t seeing similar issues being addressed by entrepreneurs, which they felt … Continue reading “Invanti Seeks Entrepreneurs to Help Crack America’s Toughest Problems”
Are You Being Deliberate About Diversity in Your Investment Portfolio?
“We looked, but we couldn’t find any companies to acquire led by women or founders of color.” “I want to hire diverse talent, but it’s impossible to find.” “It’s not my fault that the financial sector doesn’t have a more varied talent pool or deals to make with non-white males.” I have heard all of … Continue reading “Are You Being Deliberate About Diversity in Your Investment Portfolio?”
FTC Opens New Probe: Revisits Its Old Charges On Facebook Privacy Practices
Among the host of legal woes Facebook is now confronting amid news about the misuse of its member profiles in election politics: The Federal Trade Commission revealed Monday that it is investigating the social media giant’s privacy practices. The FTC decision comes in the wake of recent reports about the ease with which political consulting … Continue reading “FTC Opens New Probe: Revisits Its Old Charges On Facebook Privacy Practices”
EY Report Suggests Improving Conditions for U.S. IPOs in 2018
U.S. IPO activity has been ticking up, with 36 IPOs raising more than $12.7 billion in the United States so far this year, according to data released Monday by EY, the global consulting and accounting firm. Although there are still several days remaining in the first quarter of 2018, EY reports the number of first-quarter … Continue reading “EY Report Suggests Improving Conditions for U.S. IPOs in 2018”
Ada-AI Seeks to Build a Diverse Artificial Intelligence Community
Artificial intelligence innovation has become part of our everyday lives—retailers use it to tailor the product recommendations they make; biotech companies hope it can create customized medicine. But its shortcomings, born of human biases, are becoming apparent as well. Take, for example, facial recognition technologies that work best on white people and make the most … Continue reading “Ada-AI Seeks to Build a Diverse Artificial Intelligence Community”
Five Years In, Grand Circus CEO Reflects on Detroit Tech, Coding Boom
It seems like it was only yesterday when we covered the debut of Detroit’s Grand Circus, but the tech school is celebrating its fifth anniversary. The local tech scene has grown since 2013, as has the popularity of Grand Circus and other coding schools nationwide, which run short-term programs aimed at bestowing the skills needed … Continue reading “Five Years In, Grand Circus CEO Reflects on Detroit Tech, Coding Boom”
SD Team Heads to US Ignite Summit to Advance Emergency Mobile App
A San Diego software development team with an idea for an emergency mobile app that it said would be faster than calling 911 is headed this week to US Ignite’s Application Summit in Kansas City, MO. The team (pictured above right) emerged as the judges’ top choice among 12 pre-qualified entrants that competed in San … Continue reading “SD Team Heads to US Ignite Summit to Advance Emergency Mobile App”
Founders, Pay Attention to This Stuff—Not the Stock Market
The Dow Jones Industrial Average. Nasdaq. Startup exits. Funding rounds. In our 24/7 connected world, there’s no shortage of data you can access, study, and agonize over. The market’s latest move—from boom to correction—has commentators and analysts in a tizzy; many investors are feeling anxious, too. It’s easy to get distracted by all this chatter, … Continue reading “Founders, Pay Attention to This Stuff—Not the Stock Market”
Bio Roundup: CMS Backs Cancer Tests, Right to Try Passes, AbbVie Sinks
We’ll start this week’s roundup with several stories from Washington, DC, that could have a lasting effect on public health. The FDA continued its campaign against cigarettes, while the Centers for Medicare & Medicaid Services (CMS) gave a much-needed boost to the developers of cancer diagnostics. In its omnibus spending bill, Congress set aside more … Continue reading “Bio Roundup: CMS Backs Cancer Tests, Right to Try Passes, AbbVie Sinks”
How Will Mobility Industry Take Shape? Lux Capital’s Farshchi Weighs In
Shahin Farshchi, a partner at Silicon Valley VC firm Lux Capital, describes himself on his LinkedIn profile as a gearhead, Trekkie, and recovering engineer. He’s a Bay Area native who spent part of his career working at GM’s tech center just outside of Detroit in Warren, MI. He’s into cars, space (as in the final … Continue reading “How Will Mobility Industry Take Shape? Lux Capital’s Farshchi Weighs In”
YouTube Limits Firearms Videos; Gun Rights Group Cries Censorship
YouTube has broadened its restrictions on gun-related videos, while thousands of Americans are mobilizing to demand stricter gun controls Saturday in a mass march spurred by young survivors of a deadly armed attack on a Florida high school last month. Google’s popular video-hosting site will bar videos that facilitate direct sales of firearms or accessories, … Continue reading “YouTube Limits Firearms Videos; Gun Rights Group Cries Censorship”
At Opioid Hearing, BIO Exec Proposes Ways to Boost Pain Drug Development
After months of meetings and Congressional hearings on the unrelenting opioid addiction crisis, Congress has finally responded, with 25 bills that aim to attack the problem from all sides. The House Energy and Commerce Committee began two days of hearings on Wednesday that reviewed the draft legislation that lawmakers want to get to the House … Continue reading “At Opioid Hearing, BIO Exec Proposes Ways to Boost Pain Drug Development”