Category: Detroit

Arborlight Garners $1,700,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e89d097e-0bb9-4a70-b614-be207a995d78 Date 3/30/2015 Company Name Arborlight Mailing Address 1600 Huron Pkwy Ann Arbor, MI 48109 USA Company Description Arborlight is an integrator of LED components, optics, and embedded systems to achieve complex illumination solutions in a wide variety of applications ranging from architectural and medical lighting to automotive displays and scientific apparatus. … Continue reading “Arborlight Garners $1,700,000 New Round”

Innovation Hub: XPRIZE Founder Tackles Entrepreneurship

Peter Diamandis is, I think it’s fair to say, an optimist. After all, how many other space-obsessed kids ended up founding an International Space University? Or inaugurated an XPRIZE, to inspire a new generation of passenger spacecrafts? But Diamandis’s current obsession is entrepreneurship, and the idea that the economy is radically shifting to accommodate a … Continue reading “Innovation Hub: XPRIZE Founder Tackles Entrepreneurship”

MI Angel Fund Invests $1.7M in Arborlight to Speed Commercialization

I hear and see a lot of startup ideas, but few have impressed me like Arborlight’s LightWell indoor lighting product. Imagine very real-seeming daylight illuminating the center of a windowless office building, as if a skylight and clear weather were conspiring to improve your mood. The company’s potential was instantly clear. It seems the Michigan … Continue reading “MI Angel Fund Invests $1.7M in Arborlight to Speed Commercialization”

GreenLight Business Model Competition

Spartan Innovations, a startup accelerator associated with Michigan State University, hosts this event, which draws entrepreneurs from around Michigan to compete for $50,000 in prizes. Participants will pitch their ideas or new start-ups to a panel of judges and network with angel and venture capital investors from across the state. The competition is open to … Continue reading “GreenLight Business Model Competition”

The Incredible Shrinking Seed Stage and Other Venture Trends of 2014

By now the 2014 data for venture capital investments from the most important regions of the world have been compiled and disseminated. When laid out next to each other, some fascinating themes emerge. It’s no surprise that the U.S. continues to set the pace with over $48 billion invested in 4,356 companies, compared to 2013, … Continue reading “The Incredible Shrinking Seed Stage and Other Venture Trends of 2014”

Amid Gene Editing Worry, A Return To Biotech’s 1st “Asilomar Moment”

Biotechnology leaders—and the rest of us—should “count to 10” as they read the March 19 call in Science to consider limits on using revolutionary new gene-editing techniques for germline gene therapy. The techniques are powerful and simple to use and key scientists, worried about misuse, want us to pause, confer, and set limits. But we … Continue reading “Amid Gene Editing Worry, A Return To Biotech’s 1st “Asilomar Moment””

Hi, I’m in Delaware… For the Fast Internet

Internet speeds are becoming increasingly important to consumer markets, as users of streaming content such as Netflix, Hulu, and HBO multiply. Those people are expecting quality streaming, too, especially with the advent of 4K, or “ultra” high-definition, video. It may be no surprise that broadband Internet speeds vary from state to state, with Virginia, Delaware, … Continue reading “Hi, I’m in Delaware… For the Fast Internet”

Ford STEAM Lab, #YesWeCode Collaborate on Hackathon in Detroit

A few weeks ago, I was talking with the team behind Growth Strats, a Detroit-based consultancy that aims to create a nationwide model for incubating new ventures from urban entrepreneurs. All of the Growth Strats co-founders happen to be men of color. I asked the Growth Strats partners about access to capital and resources, and … Continue reading “Ford STEAM Lab, #YesWeCode Collaborate on Hackathon in Detroit”

FUEL: Detroit

FUEL: Detroit is the inaugural leadership development conference from Xconomist Josh Linkner, who is a serial entrepreneur and bestselling author. Speakers include actress and Honest Company CEO Jessica Alba, basketball legend Earvin “Magic” Johnson, and many more. For details and registration, click here.

Michigan Growth Capital Symposium

This annual event, one of the biggest for Michigan growth capital, showcases high-growth regional companies and emerging technologies to a crowd of investors and other interested parties. For more information, click here.

ArborMetrix Joins Michigan Consortium to Help Analyze Genetic Tests

ArborMetrix, the Ann Arbor company using private, cloud-based analytics to help healthcare providers improve care, has experienced a lot of growth since Xconomy first profiled it in 2012. Back then, the company was in an office out on Plymouth Road with 21 employees; today, it has more than doubled its staff and it has a … Continue reading “ArborMetrix Joins Michigan Consortium to Help Analyze Genetic Tests”

U-M Positive Business Conference

The University of Michigan’s Positive Business Conference explores approaches to building positive businesses. Speakers will share strategies and best practices for increasing passion, purpose, and performance and lead workshops on applying positive business leadership strategies. For details, click here.

TernPro Plans to Perfect New Software in Microsoft Ventures Program

The latest cohort at the Microsoft Ventures accelerator in Seattle is dedicated to innovating in the business enterprise space, and, after a competitive application process, a Detroit startup has been selected to participate—a first for Motor City entrepreneurs. Slope is a new software offering from the TernPro team, and Brian Bosche said it’s meant to … Continue reading “TernPro Plans to Perfect New Software in Microsoft Ventures Program”

Fastest Turtle: Healthcare Investing and the U.S. Economy

Given the investment horizons for venture capitalists, we do not necessarily try to time public markets when making new investments—although they obviously influence pre-money valuations, particularly for later rounds. Greater concerns revolve around portfolio companies’ ability to access capital on reasonable terms, and that the general macroeconomic environment is conducive to strong revenue growth. Notwithstanding … Continue reading “Fastest Turtle: Healthcare Investing and the U.S. Economy”

Stop the Bleeding: Can Gene Therapy Finally Cure Hemophilia?

Ben Haugstad is 12 years old and loves Taekwondo. He’s been doing it for six years, and soon he’ll be a black belt. He also has a severe form of hemophilia. His body doesn’t produce the machinery needed to clot blood, and at any moment a bad tumble or a bruise could quickly turn into … Continue reading “Stop the Bleeding: Can Gene Therapy Finally Cure Hemophilia?”

U-M Research Spending Tops $1.3 Billion, More Collaborations Planned

The University of Michigan today announced that it spent more than $1.3 billion on research last fiscal year, which ended June 30, 2014. That amount was slightly less than the nearly $1.4 billion in research spending the previous year, but it keeps U-M among the top-spending public universities in the nation when it comes to … Continue reading “U-M Research Spending Tops $1.3 Billion, More Collaborations Planned”

Innovation Hub: Did a Computer Write This Story?

Forget Malcolm Gladwell and Tom Friedman. The next great journalist could be a computer program. Already, artificial intelligence has been put to work at Forbes, the Associated Press, Reuters, and The Big Ten Network. Coverage of NCAA basketball games, earnings reports, and dips in housing prices are regularly penned by this new breed of “journalist.” … Continue reading “Innovation Hub: Did a Computer Write This Story?”

Lessons From Building a Global Engineering Team

It used to be that if you referenced a “global engineering team” you had contracted with a few freelance developers in a remote location to do a few hours of work per week. There’s a good reason for that: historically, recruiting, retaining, and growing global engineering teams has been a significant challenge. At HubSpot, we … Continue reading “Lessons From Building a Global Engineering Team”

WaitTime Evolves to Give Stadiums Tools For a Better Fan Experience

Last year, as the orange, white, and blue-clad masses celebrated the Detroit Tigers home opener, Xconomy reported on a local startup called WaitTime that aimed to provide up-to-the-minute information on the length of beer and bathroom lines for attendees of concerts and sporting events. We checked in with WaitTime’s founder, Zachary Klima, to find out … Continue reading “WaitTime Evolves to Give Stadiums Tools For a Better Fan Experience”

Milestones of Innovation 4: The Letter That Led to the Atomic Bomb

Crisp statements of a case to a prepared, if skeptical, mind have often changed the history of innovation. Perhaps the most critical example of this in the 20th Century is the memorandum that reached Sir Henry Tizard, chief scientific advisor to Britain’s Air Ministry, 75 years ago today, on the 19th of March, 1940. This … Continue reading “Milestones of Innovation 4: The Letter That Led to the Atomic Bomb”

U-M Spinout Imbio Uses Big Data to Improve COPD Diagnostics

Cynthia Maier, CEO of the University of Michigan spinout startup Imbio, is fond of saying her company bridges the gap between bench and bedside when it comes to biomarker imaging and how it can be used to map disease. “In the healthcare space, you have all of these images coming off scanners, and a radiologist … Continue reading “U-M Spinout Imbio Uses Big Data to Improve COPD Diagnostics”

Consumption Rules, E-mail Thrives, Enterprise Agreements are Dead

Microsoft opened its Office suite to play with other cloud services, Box debuted on Wall Street, and Google reinvented the inbox. Not even three months into 2015, and we’ve already had several interesting developments in the online collaboration software market. Here’s how these announcements fit into trends we’re seeing at Smartsheet. Consumption-Based Pricing Eats Per-User … Continue reading “Consumption Rules, E-mail Thrives, Enterprise Agreements are Dead”

Sakti3 Secures $20,000,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6ca43290-f2f0-42ac-b456-3f36cd600c16 Date 3/18/2015 Company Name Sakti3 Mailing Address 1490 Eisenhower Place Building 4 Ann Arbor, MI 48108 USA Company Description Sakti3 is a Michigan-based company that is developing an advanced solid-state rechargeable lithium-ion battery technology. We aim to further enable electric drivetrain vehicles that are capable of getting over 100 miles per … Continue reading “Sakti3 Secures $20,000,000 New Funding Round”

In Mental Health Therapy, Cautious Steps Toward the Pharmacodigital

[Corrected 3/17/15, 7:55 pm. See below.] The phrase “better living through chemistry,” derived from an old DuPont corporate slogan, has accumulated all kinds of ironic and wink-wink connotations over the decades. But there’s a fascinating revival and upgrade underway. For people with debilitating mental health problems, many researchers, doctors, and businesspeople think the new phrase … Continue reading “In Mental Health Therapy, Cautious Steps Toward the Pharmacodigital”

Dyson Bets $15M on Sakti3’s “World-Beating” Battery Technology

Two years ago, Sakti3 co-founder Ann Marie Sastry told the crowd at Xconomy’s Mobile Madness Motor City conference that consumer electronics is the next frontier for solid-state lithium batteries like the the kind her company was producing. That prediction seems to have played out in yesterday’s news that Dyson—the global manufacturer of vacuum cleaners, fans, … Continue reading “Dyson Bets $15M on Sakti3’s “World-Beating” Battery Technology”

Roundup: HelloWorld, Blackstone, MI Celebrates Small Business & More

Here’s a look at news from around Michigan’s innovation hubs: —HelloWorld, the digital marketing company formerly known as ePrize, is in the midst of a flurry of changes. A new CEO, Peter DeNunzio, joined the company a few months ago; HelloWorld has also added a new COO, CTO, and CCO in the past six months. … Continue reading “Roundup: HelloWorld, Blackstone, MI Celebrates Small Business & More”

Innovation Hub: Wadhwa’s Dystopian Future

Vivek Wadhwa is a big-picture guy. A guy whose vision of the future includes printing meat, banning humans from the road, and sidelining Wall Street. Wadhwa currently juggles appointments at Stanford, Duke, and Singularity Universities, and he says that massive technological advances will reroute our lives, a shift that may lead to massive dislocation, perhaps … Continue reading “Innovation Hub: Wadhwa’s Dystopian Future”

Robo Madness Boston: The Photos and Takeaways

Our first-ever dedicated robotics event in Boston was a smash hit. Here’s hoping the local community can keep the momentum going and solidify its standing as a worldwide leader in the field. Huge thanks to our event sponsors who made the conference possible: Argosight, BDO, Fairfax County Economic Development Authority, IDA Ireland, and iRobot. And … Continue reading “Robo Madness Boston: The Photos and Takeaways”

Detroit’s Ash & Anvil Offers Clothes for Hard-to-Fit Shorter Guys

If your body type deviates from “standard” proportions for your age or gender, it can be challenging to find clothes that fit off the rack. That frustration has led to a new, Detroit-based online clothing store for “shorter guys” called Ash & Anvil. Its founders hope to get it off the ground in partnership with … Continue reading “Detroit’s Ash & Anvil Offers Clothes for Hard-to-Fit Shorter Guys”

Ex-TechTown Head Hopes Collaboration Will Help All American Cities

Xconomy reported last month that Leslie Smith is departing her position leading the TechTown incubator in Detroit and heading to Memphis, TN, to run the Entrepreneurship Powered Innovation Center, a public-private initiative to create and support 1,000 entrepreneurs and 500 companies by 2025. I caught up with Smith on her last day at TechTown, and … Continue reading “Ex-TechTown Head Hopes Collaboration Will Help All American Cities”

Study: Most Auto Execs Not Ready for Industry’s Coming Tech Changes

Results from the third annual EY (formerly known as Ernst & Young) survey of the automotive industry were released last week at the Geneva Motor Show, and, paradoxically, they’re both not surprising and a little alarming. According to the Changing Lanes report, 88 percent of auto executives do not have the confidence to implement data … Continue reading “Study: Most Auto Execs Not Ready for Industry’s Coming Tech Changes”

Apple: A123’s Lawsuit “Baseless Conjecture,” Not Actionable Under Law

Apple is asking a Massachusetts federal court to dismiss a lawsuit that A123 Systems, an electric-car battery maker, filed against the computing giant for allegedly poaching A123’s employees. Apple filed a 13-page memo Monday that details why it believes claims in the suit, which also named five current Apple and former A123 employees as defendants, … Continue reading “Apple: A123’s Lawsuit “Baseless Conjecture,” Not Actionable Under Law”

The LifeBrush: A Smart Toothbrush and Dental Scheduling App in One

Imagine a smart toothbrush that could tell you what part of your mouth requires extra brushing or could contact your dentist to schedule an appointment. If Ann Arbor-based Click Care succeeds with its recently launched IndieGoGo campaign, that will soon be a reality. The company was created last year after co-founder Stacy Hawkins had a … Continue reading “The LifeBrush: A Smart Toothbrush and Dental Scheduling App in One”

Study: Best Places For Women in Tech are Outside Silicon Valley

A new report suggests that the best opportunities for women in technology may be located outside of the industry’s hotbed in Silicon Valley. The analysis last week by SmartAsset, a New York-based financial technology and data analytics company, indicates that the best cities for women in computer-related jobs are found primarily on the East Coast … Continue reading “Study: Best Places For Women in Tech are Outside Silicon Valley”

My Best Advice for Aspiring Entrepreneurs and Tech Startups

What an incredible time to be a tech startup! The opportunities out there are just tremendous. Digital payments, wearable technology, mobile healthcare, virtual reality and gamification, predictive analytics, and green tech—these are just a few of the startup areas that are expected to be big this year, according to venture capitalists and industry experts. “Full … Continue reading “My Best Advice for Aspiring Entrepreneurs and Tech Startups”

NIH Director Hails “Stunning Case” as Example of Genomic Revolution

A pregnant mom who got a non-invasive prenatal test because she knew at age 40 that her baby was a higher risk for Down syndrome has become a case study in the potential power of precision medicine. The certified blood test, developed by San Diego-based Sequenom (NASDAQ: [[ticker:SQNM]]), is sensitive enough to identify bits of … Continue reading “NIH Director Hails “Stunning Case” as Example of Genomic Revolution”

Vectorform, DTE Team Up to Launch “Fitbit for Your House”

This week at the Mobile World Congress in Barcelona, Royal Oak, MI-based software development firm Vectorform and utility company DTE Energy announced they are forming a new venture called Powerley to capitalize on the in-home Internet of Things trend. Powerley has created a “customizable, real-time home energy management platform for utility companies” that will use … Continue reading “Vectorform, DTE Team Up to Launch “Fitbit for Your House””

Ford Takes Multi-Modal Mobility to New Level with e-Bike Experiment

With the advent of the next-generation car services, as well as Millennials’ apparent distaste for driving and car ownership, automobile manufacturers are being forced to rethink century-old business models. Many of them are exploring car-sharing, public transportation, and, now, electric bikes. This week, at the Mobile World Congress in Barcelona, Ford announced that it is … Continue reading “Ford Takes Multi-Modal Mobility to New Level with e-Bike Experiment”

WI’s Badger Fund of Funds Unlocks State Money, Eyes First Recipients

Nearly two years ago, Wisconsin passed a law creating a government-backed “fund-of-funds” that would invest in venture capital funds in the state, in the hopes of boosting the meager amounts of local cash available to local startups. Now, after months of gathering additional commitments from private sources, the Badger Fund of Funds is poised to … Continue reading “WI’s Badger Fund of Funds Unlocks State Money, Eyes First Recipients”

Ann Arbor’s Stratos Launches “Industry First” Connected Payment Card

At long last, Ann Arbor-based Stratos, formerly known as Protean Payment, today launched its Bluetooth Connected Card, which it describes as an industry first in the realm of financial technology and mobile wallets. “It’s exciting to finally be able to show people,” says Stratos CEO Thiago Olson. “Inside the Stratos card, we’ve packed an entire … Continue reading “Ann Arbor’s Stratos Launches “Industry First” Connected Payment Card”

Tiger Teams, Dropping Subs, and Biotech’s Elusive Second Strikes

Onesie-twosie? Double dipping? The old razzle dazzle? Whatever you call it, it’s a rare feat to sell a biotech company, hold something back to start a new company, then ride that second horse to success. The team behind Flexus Biosciences is halfway there, as I wrote about last week. They sold a preclinical cancer immunotherapy … Continue reading “Tiger Teams, Dropping Subs, and Biotech’s Elusive Second Strikes”

PeachWorks Obtains $4,000,000 Series A Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=18ef9546-71b3-4213-8a93-6d51d12809b7 Date 3/3/2015 Company Name PeachWorks Mailing Address 26935 Northwestern Highway Southfield, MI 48033 USA Company Description PeachWorks introduces its ‘open-platform’ dubbed PEACH; a retail & restaurant management app marketplace focused on improving operations through restaurant technology. Website http://www.peachworks.com Transaction Type Venture Equity Transaction Amount $4,000,000 Transaction Round Series A Proceeds Purposes … Continue reading “PeachWorks Obtains $4,000,000 Series A Round”

Roundup: Comcast Business, Start Garden, JEMS, Delphinius & More

Here’s a look at news from around Michigan’s innovation hubs: —Are you an entrepreneur in need of a cash infusion? Comcast Business is giving away up to $30,000 to a startup in need in each of its 16 regional districts through its Innovations 4 Entrepreneurs contest. Applicants have until March 15 to submit a 250-word … Continue reading “Roundup: Comcast Business, Start Garden, JEMS, Delphinius & More”

Cancer Immunotherapy Companies: Looking Forward and Looking Back

[Updated, 4/7/15, see below] I’ve been researching one of our local immunotherapy developers here in Seattle, trying to round up the views of industry experts regarding the future prospects of a drug at the front of its pipeline. Do they think it’s a good investment? Here’s what I found out: Analysts predict that sales of … Continue reading “Cancer Immunotherapy Companies: Looking Forward and Looking Back”

WorkForce Software Garners $7,440,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=73f4ae72-3677-4ff6-884c-0e8eda017be6 Date 3/2/2015 Company Name WorkForce Software Mailing Address 38705 Seven Mile Road Livonia, MI 48152 USA Company Description WorkForce Software, Inc. is a leader in workforce management software and time and attendance systems for mid-sized and large employers. Website http://www.workforcesoftware.com Transaction Type Venture Equity Transaction Amount $7,440,000 Transaction Round Undisclosed Proceeds … Continue reading “WorkForce Software Garners $7,440,000 New Financing Round”