Consumers and life science startup companies alike are reacting strongly to the recent decision by the FDA to restrict the genetic testing company, 23andMe, from marketing its genetic testing service. In our day-to-day work, we are frequently approached with a gamut of regulatory questions from both large and small life science companies navigating the intersection … Continue reading “There May Be More to the FDA/23andMe Story Than Meets the Eye”
Category: Detroit
Jamf Software Garners $30,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0b84580f-dafd-4ce0-837d-e61e0ceca389 Date 12/12/2013 Company Name Jamf Software Mailing Address 301 4th Ave S Minneapolis, MN 55415 Company Description JAMF Nation is a powerful resource—a peer-helping-peer community for the questions that bubble up during the daily practice of managing computers and mobile devices. Gain casual access to knowledgeable Casper Suite users within this … Continue reading “Jamf Software Garners $30,000,000 New Funding Round”
Raise.com Lands $18,099,998 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1681af54-e50a-4887-aed3-fb10a3aac967 Date 12/12/2013 Company Name Raise.com Mailing Address 311 W. Superior St. Chicago, IL 60654 Company Description Raise is the first peer-to-peer secondary gift card marketplace where you can sell gift cards for cash or buy discount gift cards to all of your favorite brands. This means members like you are the … Continue reading “Raise.com Lands $18,099,998 New Funding”
Everything You’ve Wanted to Know About Americans But Were Afraid to Ask
Last month, we told you about the Global Talent Retention Initiative’s report that Michigan is poised to become a hot spot for global talent because of its popularity with international students, particularly those studying science, technology, engineering, and mathematics (STEM). With that in mind, a group of Michigan State University journalism students published a book … Continue reading “Everything You’ve Wanted to Know About Americans But Were Afraid to Ask”
U.S. IPO Activity in 2013 on Track for Highest Level in 9 Years
As the IPO counter continues to roll, the EY accounting firm says it estimates 2013 will ring up a total of 222 U.S. IPOs (or maybe 223), with cumulative proceeds generating a total of about $59.7 billion. EY has counted 211 IPOs as of yesterday, and 10 more IPOs are on the calendar for this … Continue reading “U.S. IPO Activity in 2013 on Track for Highest Level in 9 Years”
XL Hybrids Hauls In $3M From WindSail to Electrify Fleet Vehicles
[Updated 11:05 am] What does $10 million buy you in alternative energy and transportation? Not much, these days. But if you’re XL Hybrids, it gets you about halfway to profitability. At least if you believe co-founder and president Tod Hynes. The Boston company, which makes hybrid electric powertrains for commercial vehicles, has just raised $3 … Continue reading “XL Hybrids Hauls In $3M From WindSail to Electrify Fleet Vehicles”
Assure360: Expanding Its Business Around a Private Cloud
In September, the Farmington Hills, MI-based IT support firm NDeX rebranded and relaunched as Assure360 with a new mission: to provide private, cloud-based data management to companies in highly regulated industries like banking, legal, and insurance. It’s an interesting company to watch as it settles into a broader and more ambitious sales strategy. “We were … Continue reading “Assure360: Expanding Its Business Around a Private Cloud”
Novartis, Gilead, Genentech & More: An ASH 2013 Wrap-Up
Advances in the treatment of blood cancer were in the news this week. If you missed some of the signal while seeing a lot of noise from press releases, tweets, and analyst reports coming from the American Society of Hematology conference, don’t feel bad. There weren’t a whole lot of major new revelations that I … Continue reading “Novartis, Gilead, Genentech & More: An ASH 2013 Wrap-Up”
Chromatin Receives $23,550,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=5b412318-cb87-4cc0-87e8-4e9ed0f71aa5 Date 12/10/2013 Company Name Chromatin Mailing Address 10 South LaSalle Street Chicago, IL 60603 Company Description Chromatin’s proprietary mini-chromosome technology can rapidly deliver multi-gene clusters designed to ensure stable and consistent gene expression in plants. Website http://www.chromatininc.com Transaction Type Venture Equity Transaction Amount $23,550,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes … Continue reading “Chromatin Receives $23,550,000 New Funding Round”
How Do You Want to Spend the Next Four Years of Your Life?
As our Lean LaunchPad for Life Sciences class winds down, a good number of the 26 teams are trying to figure out whether they should go forward to turn their class project into a business. Given that we’ve been emphasizing evidence-based entrepreneurship and the Investment Readiness Level, I guess I shouldn’t have been surprised when … Continue reading “How Do You Want to Spend the Next Four Years of Your Life?”
Calling All Detroit Kids: Learn How to Be an Entrepreneur
Thanh Tran, a serial entrepreneur and champion of Detroit’s startup community, has just launched a new venture called Kidpreneur, which is also the latest winner of D:Hive’s Pilot program. Kidpreneur will offer classes to tweens, where they’ll learn about Web design, coding, robotics, and the “lean startup” philosophy of entrepreneurship from expert instructors like Tran. Kidpreneur … Continue reading “Calling All Detroit Kids: Learn How to Be an Entrepreneur”
The Problem with Bitcoin
One purpose of writing this piece is a vague hope of being proven wrong by some economist who knows better than me. That would be nice. Because what I have come to think about Bitcoin is not nice. Before writing this piece, I presented my common-sense critique to Bitcoin proponents, and so far nobody has … Continue reading “The Problem with Bitcoin”
12 Things the Pharma Industry Can Do to Rebuild Real Public Trust
Remember when Merck was the most admired company in America? When pharmaceutical companies ranked among the most respected of all industries, because of their achievements for human health and well-being? I don’t. I was born in 1975, putting me smack in Generation X. I started paying attention to the business of biomedical innovation, as a … Continue reading “12 Things the Pharma Industry Can Do to Rebuild Real Public Trust”
connXus Obtains $200,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4bda6fb9-d0a8-4087-a271-22431ea8cb89 Date 12/9/2013 Company Name connXus Mailing Address 5155 Financial Way Mason, OH 45040 Company Description connXus.com is an online service that connects diverse and small businesses with companies seeking to expand and diversify their supplier base. Our mission: to be a catalyst of economic growth by making it easier for our … Continue reading “connXus Obtains $200,000 New Financing”
High-Tech Holidays: The Xperience Gift Guide, 2013 Edition
Wait, what? Cyber Monday was four days ago, and you still haven’t finished your holiday gift buying? Don’t worry, we haven’t either. But we thought we’d take some time away from our busy shopping schedules to help you find the best presents for the gadget geeks in your life. In the slideshow above, we’ve collected … Continue reading “High-Tech Holidays: The Xperience Gift Guide, 2013 Edition”
Detroit’s H2bid Earns Silicon Valley Accolades, Prepares to Expand
The Detroit-based startup H2bid.com—an e-bidding site that maintains, according to the company, the world’s largest online clearinghouse of water utility contract opportunities—recently made some waves in Silicon Valley. Company founder and CEO Glenn Oliver says H2bid was invited to be part of a startup expo in Menlo Park, CA, hosted by SV Forum. Fifty companies participated … Continue reading “Detroit’s H2bid Earns Silicon Valley Accolades, Prepares to Expand”
Tesla Investor’s Enduring Lessons for Cleantech (and Other) Startups
In just 10 years, Tesla Motors has become a symbol of automotive excellence and an iconic company for risk-taking and determined entrepreneurs everywhere. But according to director and early investor Ira Ehrenpreis, it wasn’t always that way. Ehrenpreis is a general partner at Technology Partners, a Palo Alto, CA-based venture capital firm. He specializes in … Continue reading “Tesla Investor’s Enduring Lessons for Cleantech (and Other) Startups”
FDA’s Culture Is Genetically Dominant Over 23andMe’s Business Model
I’ve been following the 23andMe saga with dread and fascination and frustration since it hit in late November. If you’re not up to date, David Dobbs has the canonical collection of stories to get you there. This is a post about business models and culture clashes. It’s long. I should also start by disclosing that my former … Continue reading “FDA’s Culture Is Genetically Dominant Over 23andMe’s Business Model”
An Innovative Cleantech Strategy: Invest in Solar PV for Nonprofits
For decades we’ve been led to believe that donating money is the only way to financially support a nonprofit organization committed to a mission we care about. However, what if there was a different way to support nonprofits that could also provide a modest financial return? Perhaps the biggest challenge for nonprofits that want to … Continue reading “An Innovative Cleantech Strategy: Invest in Solar PV for Nonprofits”
Toyota Licenses Wireless Battery Charging Tech from WiTricity
Toyota is getting more serious about wireless charging for its electric cars, and a Boston-area company is benefitting. The world’s largest car-maker says it is licensing patents from Watertown, MA-based WiTricity, an MIT spinout that has developed technology to recharge batteries without using wires. The two companies didn’t say how much money the deal is … Continue reading “Toyota Licenses Wireless Battery Charging Tech from WiTricity”
A Tablet App from Invention Labs Helps Kids with Speech Disabilities
The field of educational technologies is going through an exciting period. From massively open online courses (MOOCs) like MIT’s OCW or edX and Khan Academy to a range of tablet and smartphone applications, the field is rife with exciting innovations that have dramatically changed the face of education. There is a higher degree of self-learning … Continue reading “A Tablet App from Invention Labs Helps Kids with Speech Disabilities”
Snapsheet Garners $10,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=17bebc83-3130-4f98-bb11-628f9a406c0c Date 12/5/2013 Company Name Snapsheet Mailing Address Undisclosed Chicago, IL 60654 Company Description Snapsheet is the industry’s first mobile insurance claims solution, currently working with the top insurance carriers in the country. Snapsheet’s patent pending technology streamlines the fragmented claims process of obtaining an estimate and settling a claim. Website http://www.snapsheetapp.com … Continue reading “Snapsheet Garners $10,000,000 Series B Financing Round”
Green Biologics Receives $25,000,000 Series B Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e09c6dfb-4f4c-4dd8-b7cc-91c68f62d654 Date 12/5/2013 Company Name Green Biologics Mailing Address 1130 Gahanna Parkway Columbus, OH 43230 Company Description GBL will be the leading technology provider and producer of high quality renewable C4 chemicals and biofuels. Our goal is to manufacture high value C4 chemicals and fuels with the smallest carbon footprint possible. Our … Continue reading “Green Biologics Receives $25,000,000 Series B Financing”
Murfie Secures $499,998 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=374d2b33-bafc-4979-96e8-ac80e54c6af6 Date 12/5/2013 Company Name Murfie Mailing Address 7 S. Pinckney St Madison, WI 53703 Company Description Murfie is part marketplace, part community; a throwback to your neighborhood record store with a digital update. Website http://www.murfie.com Transaction Type Venture Equity Transaction Amount $499,998 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not … Continue reading “Murfie Secures $499,998 New Funding Round”
ConjuGon Receives $595,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8196d5e8-46f8-4e0c-b922-e469b000e5f1 Date 12/5/2013 Company Name ConjuGon Mailing Address 505 South Rosa Road Madison, WI 53719 Company Description ConjuGon, a Madison, Wisconsin-based biotechnology company, is developing key technologies for the prevention and treatment of such bacterial infections. Website http://www.conjugon.com Transaction Type Debt Transaction Amount $595,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were … Continue reading “ConjuGon Receives $595,000 New Financing”
Cleantech Overcoming Challenges, Rough Years, Tesla VC Investor Says
Building revolutionary companies is not easy, and bad times have to be expected and endured. But dark days don’t dissuade visionaries. Ask Henry Ford, Thomas Edison, or the innovators who built Silicon Valley’s greatest companies. In the eyes of Ira Ehrenpreis, an early investor in Tesla Motors (NASDAQ: [[ticker:TSLA]]) and a current director, it shouldn’t … Continue reading “Cleantech Overcoming Challenges, Rough Years, Tesla VC Investor Says”
Link Detroit: Building Robust Small Business Supply Chains
The U.S. Small Business Association hosts this event, which brings the American Supplier Initiative, a federal initiative designed to increase commercial and government supply chain opportunities for small firms, to Detroit. For details and registration, click here.
Community Roundtable: Value Investing
Hosted by the Ypsilanti-based Revalue, this roundtable discussion explores value investing, how to determine the actual value of a company, understanding how price affects our markets today, and more. To register, click here.
Community Roundtable: Transitioning from Manager to Investor
The Ypsilanti-based Revalue, a community-focused investment firm, hosts a roundtable discussion about how to transition from employee ownership, developing an investor relationship with the company you work for as opposed to a manger relationship, and more. Feel free to bring a friend or your business partner for an interesting discussion. To register, click here.
Social Media is a Party: Social Media for Nonprofits
The Social Media Association of Michigan hosts its annual Social Media is a Party holiday bash, complete with a panel discussion and networking. Discussion topic is social media for nonprofits and the panelists are Chad Wiebesick, director of social media for Michigan Economic Development Corp.; Ursula Adams, marketing director at United Way for Southeastern Michigan; Kaitlynn Colbert, program … Continue reading “Social Media is a Party: Social Media for Nonprofits”
ViewRay Secures $14,999,993 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8dc974e4-881e-447c-b466-7f7e86f2f8ae Date 12/4/2013 Company Name ViewRay Mailing Address 2 Thermo Fisher Way Oakwood Village, OH 44146 Company Description The patent pending Renaissance race System 1000 combines two proven technologies: magnetic resonance imaging (MRI) and gamma ray radiotherapy. Conversely, today’s competing image-guided radiotherapy systems are based on linear accelerators which require CT or … Continue reading “ViewRay Secures $14,999,993 New Financing Round”
Docalytics Obtains $300,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c49c74eb-7219-473f-a487-b5a4f5e13b8b Date 12/4/2013 Company Name Docalytics Mailing Address Undisclosed Minneapolis, MN 55404 Company Description Our individual prospect engagement data and lead scoring provide you with a wealth of understanding about exactly what your leads are interested in and when/how they consumed your content, letting you target higher-interest leads faster and tailor your … Continue reading “Docalytics Obtains $300,000 New Financing”
Qualia Health Obtains Seed Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4af74390-fd40-4acd-91e6-0f0d1bb41da8 Date 12/4/2013 Company Name Qualia Health Mailing Address Undisclosed Chicago, IL 60654 Company Description Qualia has built a software platform that enables people living with chronic diseases to better manage their health, using a combination of data from sensors and patient feedback. Website http://www.qualiahealth.com Transaction Type Accelerator Transaction Amount Undisclosed Transaction … Continue reading “Qualia Health Obtains Seed Funding Round”
Building the “Passion Graph” With Pavo
It happens to me all the time. I’m scrolling through Facebook feeds or Pinterest boards only to see an item of clothing or a plate of food (ok, usually food) that makes me think, “Must. Have. Now!” Pavo, a new Detroit-based Internet startup, feels my pain. Its motto is “Share your passion because a ‘like’ … Continue reading “Building the “Passion Graph” With Pavo”
Modern Day Scrooges Are Ruining Our Health Care System
More than a 150 years ago Charles Dickens’ A Christmas Carol introduced the character Ebenezer Scrooge, who was the embodiment of greed, “tight-fisted…. a squeezing, wrenching, grasping, scraping, clutching, covetous, old sinner! Hard and sharp as flint, from which no steel had ever struck out generous fire.” If Dickens were alive today he’d recognize that … Continue reading “Modern Day Scrooges Are Ruining Our Health Care System”
Docalytics Receives $300,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f165c16a-5a66-4a68-8b66-f05d51e469fc Date 12/3/2013 Company Name Docalytics Mailing Address Undisclosed Minneapolis, MN 55404 Company Description Our individual prospect engagement data and lead scoring provide you with a wealth of understanding about exactly what your leads are interested in and when/how they consumed your content, letting you target higher-interest leads faster and tailor your … Continue reading “Docalytics Receives $300,000 New Financing Round”
Sittercity Lands $4,500,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7fe7da9b-6252-449b-9ee9-f63e5da2c623 Date 12/3/2013 Company Name Sittercity Mailing Address 20 W. Kinzie St. Chicago , IL 60654 Company Description At Sittercity, our mission is to connect parents with caregivers in their area to give each side what they want – some time off for adults-only activities and access to a multitude of child … Continue reading “Sittercity Lands $4,500,000 New Round”
Stik’s Review Platform Adds Referral Product for Service Providers
Stik.com was the toast of Detroit a little over a year ago, after it announced it was shuttering its Bay Area operations and moving the company to Detroit, to an office in Dan Gilbert’s Madison Building. Since that time, Stik has continued to grow and raise money—a Series A round of $2.3 million was announced … Continue reading “Stik’s Review Platform Adds Referral Product for Service Providers”
Financial Apps Will Make People Smarter and More Open About Money
Socially acceptable topics of conversation are always evolving. It’s no longer uncommon to hear discussions about religion and politics at the dinner table. However, there’s still one incredibly important issue that most people would just as soon sweep under the rug: finances. When was the last time you had a detailed conversation with your spouse, … Continue reading “Financial Apps Will Make People Smarter and More Open About Money”
3 Life Sciences Companies That Are Built to Last
Lots of biotech companies today say they want to be great for a long, long time. But which of today’s companies are actually doing it? Which ones are truly visionary, and built to last? These questions have been on my mind since I re-read “Built to Last: Successful Habits of Visionary Companies” in preparation for … Continue reading “3 Life Sciences Companies That Are Built to Last”
It’s Time to Play Moneyball: The Investment Readiness Level
Investors sitting through Incubator or Accelerator demo days have three metrics to judge fledgling startups – 1) great looking product demos, 2) compelling PowerPoint slides, and 3) a world-class team. We think we can do better. We now have the tools, technology and data to take incubators and accelerators to the next level. Teams can … Continue reading “It’s Time to Play Moneyball: The Investment Readiness Level”
Think Digitally, Give Locally: Benevolent Opens Detroit Office
Darnell lives in Southwest Detroit. He recently transitioned out of homelessness and into a new apartment, thanks to support from the Coalition on Temporary Shelter. He hasn’t had the ability to put his home together, however—an absence made worse because of his medical condition, which makes getting from a seated to standing position difficult. But … Continue reading “Think Digitally, Give Locally: Benevolent Opens Detroit Office”
Is This the End of Premium Pricing in Drug and Device Innovation?
Healthcare costs in the United States today account for approximately 18 percent of our gross domestic product—far more than any other developed country. Americans’ average life expectancy and the efficiency of our healthcare system are ranked near the bottom of countries with advanced economies. It’s not just a healthcare problem, either. It’s an economic problem. … Continue reading “Is This the End of Premium Pricing in Drug and Device Innovation?”
DeNovo Sciences Lands $1,000,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0abbe8ef-8e2f-45e4-9e1e-a657229f8948 Date 11/27/2013 Company Name DeNovo Sciences Mailing Address 46701 Commerce Center Drive Plymouth, MI 48170 Company Description We are a team of young, dynamic entrepreneurs and experienced industry veterans committed to bringing cutting-edge CTC detection technology to the cancer research and clinical markets. Our team has a unique balance of talents … Continue reading “DeNovo Sciences Lands $1,000,000 New Funding”
SpringCM Receives $6,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=48a92310-5f1f-476e-966b-f0dfda4eead3 Date 11/27/2013 Company Name SpringCM Mailing Address 350 North Orleans Street Chicago, IL 60654 Company Description Our integrated subscription solution incorporates enterprise search, remote storage, collaboration and content distribution technologies completely on demand. SpringCM combines mature technologies with innovations from our R&D lab to offer applications designed to serve people, so … Continue reading “SpringCM Receives $6,000,000 New Financing”
23andMe: Victim of an Overboard FDA Crackdown, or Provocateur?
Last Friday, the Food and Drug Administration issued a warning letter to the direct-to-consumer genetic testing company 23andMe ordering it to stop marketing its Personal Genome Service. According to the FDA, the 23andMe genetic test is a medical device, and subject to intense regulation before it can be marketed, because “it is intended for use … Continue reading “23andMe: Victim of an Overboard FDA Crackdown, or Provocateur?”
Roundup: Rapt.fm’s Rapping Royals, LevelEleven’s New Partnership
Here’s a look at news you may have missed from the Southeast Michigan innovation community: —Hallelujah, it’s finally happened: There will soon be an affordable way to get from Detroit to Metro Airport in Romulus! For those of you in other cities wondering what the big deal is, there is currently no convenient way to … Continue reading “Roundup: Rapt.fm’s Rapping Royals, LevelEleven’s New Partnership”
Gates Foundation Health Chief on Coaxing Pharma to Do Good (Part 2)
Yesterday, I ran the first installment of an interview with Trevor Mundel, the president of global health at the Seattle-based Bill & Melinda Gates Foundation. He talked about his personal reasons for leaving the pharmaceutical industry to work on global health problems, and how the foundation makes decisions on how to spend its money. Today, … Continue reading “Gates Foundation Health Chief on Coaxing Pharma to Do Good (Part 2)”
Jifiti Receives $1,000,000 Seed Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=5fc3d9b0-a65b-47d9-b832-001dcabb17db Date 11/26/2013 Company Name Jifiti Mailing Address 1275 Kinnear Rd Columbus, OH 43212 Company Description Jifiti.com has taken a unique approach to the online-offline tension by giving users the ability to capture tangible products in real stores and turn them into digitally transmittable gift cards. Once received, a user may use … Continue reading “Jifiti Receives $1,000,000 Seed Funding Round”
ABSMaterials Garners $4,000,000 Series B Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f2a508d4-0b22-4732-980b-0df11afab19f Date 11/26/2013 Company Name ABSMaterials Mailing Address 1909 Old Mansfield Road Wooster, OH 44691 Company Description ABSMaterials was founded in December 2008 by Dr. Paul L. Edmiston and Stephen Spoonamore to commercialize Osorb a swellable organosilica that removes organic compounds from water. Website http://www.absmaterials.com Transaction Type Venture Equity Transaction Amount $4,000,000 … Continue reading “ABSMaterials Garners $4,000,000 Series B Financing”