Fifth Eye, an Ann Arbor-based medical software startup spun out of technology developed at the University of Michigan, today announced that it has raised $9 million in new investment capital, bringing its total venture backing to date to $11.5 million. The round was led by Arboretum Ventures and Cultivation Capital, with participation from Invest Michigan, … Continue reading “After Scoring New Capital, Fifth Eye Prepares to Seek FDA Approval”
Tag: Invest Michigan
Alchemie Snags NSF Grant to Develop AR Tools for Teaching Chemistry
Alchemie, a Troy, MI-based educational technology startup, has won another round of funding from the National Science Foundation (NSF) to develop 3D and augmented reality (AR) learning tools for teaching general chemistry. The funding, announced this week, is a $140,000 Technology Enhancement through Commercialization Partnerships extension to a Phase II SBIR (Small Business Innovation Research) … Continue reading “Alchemie Snags NSF Grant to Develop AR Tools for Teaching Chemistry”
Genomenon Raises $2.5M, Plans to Increase Work with Pharma Customers
Genomenon, the Ann Arbor, MI-based genomics search engine startup, has raised $2.5 million in what the company calls a “seed extension” round. The equity financing included investments by IrishAngels, a group founded by Notre Dame alumni; H.W. Kaufman Group; Invest Michigan; and all previous investors, including Genomenon CEO Mike Klein. He says the company will … Continue reading “Genomenon Raises $2.5M, Plans to Increase Work with Pharma Customers”
Invest Michigan Hits Milestone, Backs Fiftieth Company in Four Years
Invest Michigan, an investment fund supported by the state-backed Michigan Strategic Fund, hit a major milestone at the end of 2018: it invested in its fiftieth company in four years. Ann Arbor’s Spellbound, which has developed a therapeutic tool to help kids cope with illness and engage in treatment through augmented reality technology, received the … Continue reading “Invest Michigan Hits Milestone, Backs Fiftieth Company in Four Years”
Fifth Eye Scores $2.3M for Software to Detect Patient Warning Signs
[Update, 2:02 p.m., see below.] Jen Baird, a serial entrepreneur who has led several Michigan-based healthcare technology startups, is back at it with Fifth Eye, an Ann Arbor, MI-based company developing software that performs analytics on patient data. Investors so far like what they see in the young venture: Fifth Eye has just raised $2.3 million … Continue reading “Fifth Eye Scores $2.3M for Software to Detect Patient Warning Signs”
Fintech Startup Autobooks Raises $10M from Group of Midwestern VCs
Autobooks, the Detroit-based financial technology startup spun out of Billhighway in 2015, has raised $10 million in a Series A1 funding round. Contributors included Draper Triangle, Baird Capital, Detroit Venture Partners, Invest Michigan, and CU Solutions Group. Steve Robert, CEO of Autobooks, says this latest round comes a few months after the company raised a … Continue reading “Fintech Startup Autobooks Raises $10M from Group of Midwestern VCs”
After Record-Breaking 2017, Invest Michigan Expects Another Big Year
Invest Michigan, the Detroit-based early-stage capital fund, had an eventful 2017 and is off to a busy start already in 2018. We caught up with CEO Charlie Moret for an update and to find out what’s ahead for the fund in the coming year. Invest Michigan, established in 2014 by the Michigan Economic Development Corporation, … Continue reading “After Record-Breaking 2017, Invest Michigan Expects Another Big Year”
Shoulder Innovations Raises $1.5M to Grow its Patented Implant Tech
Shoulder Innovations, the Holland, MI-based medical device startup, this week announced a $1.5 million Series A round led by the Michigan Angel Fund, with participation from Start Garden, Invest Michigan, Novus Bioventures, Western Michigan University’s Biosciences Research Commercialization Center, and Genesis Innovation Group. The four-person company, which was founded in 2009, has developed a shoulder … Continue reading “Shoulder Innovations Raises $1.5M to Grow its Patented Implant Tech”
After $1M NEI Grant, ONL Therapeutics Closer to Clinical Trials
ONL Therapeutics, the Ann Arbor, MI-based biotech startup working on sight-preserving therapies for patients with retinal diseases, is one step closer to clinical trials, thanks to a cash infusion from the National Eye Institute (NEI). Last week, the NEI awarded ONL a $1 million Commercialization Readiness Pilot grant to continue advancing ONL1204, the company’s lead … Continue reading “After $1M NEI Grant, ONL Therapeutics Closer to Clinical Trials”
Detroit Fintech Startup Autobooks Closes $5.5M Series A Round
Autobooks, the Detroit-based startup spun out of Billhighway in 2015, has closed on a $5.5 million Series A funding round. The investment was led by Pittsburgh-based Draper Triangle, with participation from CU Solutions Group, Baird Capital, Detroit Venture Partners, and Invest Michigan. Autobooks’s software is designed to be integrated with online banking platforms to serve … Continue reading “Detroit Fintech Startup Autobooks Closes $5.5M Series A Round”
Ridesharing Startup SPLT Wins Accelerate Michigan’s $500K Prize
SPLT, the Detroit-based enterprise carpooling service and graduate of the Techstars Mobility program, walked away with the $500,000 grand prize at this year’s Accelerate Michigan Innovation Competition, the state’s largest annual startup event, held last week in Detroit. In an e-mail to supporters, SPLT CEO Anya Babbitt described the company’s reaction to the win: “Thursday night … Continue reading “Ridesharing Startup SPLT Wins Accelerate Michigan’s $500K Prize”
Roundup: Ford, SPLT, Digital Divas, Invest Michigan, & More
Here’s a look at startup and innovation news from around Michigan: —Ford recently began a 10-year transformation of its Dearborn headquarters with the goal of creating a “modern, green, and high-tech campus to foster innovation and help drive the company’s transition to an auto and a mobility company,” according to a press release. The 60-year-old … Continue reading “Roundup: Ford, SPLT, Digital Divas, Invest Michigan, & More”
SkySpecs Takes Flight with $3 Million Series A, UpWind Partnership
SkySpecs, the Ann Arbor-based drone startup, announced this week that it raised $3 million in a Series A round. Venture Investors led the investment, with participation from Huron River Ventures, Amherst Fund II, the Michigan Angel Fund, and Invest Michigan. To date, the company has raised a total of $4.3 million, said SkySpecs CEO Danny … Continue reading “SkySpecs Takes Flight with $3 Million Series A, UpWind Partnership”
ContentOro Secures $450,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=10b788bb-e103-4987-a2d8-824feec8b996 Date 11/11/2015 Company Name ContentOro Mailing Address 201 South Division Ann Arbor, MI 48104 USA Company Description ContentOro provides a platform to support a new channel for publishers to sell their book content for use on the web. It is a core value of ContentOro to improve the quality of information … Continue reading “ContentOro Secures $450,000 New Round”
Akadeum Aims to Disrupt Cell-Sorting Technology with Microbubbles
Akadeum Life Sciences is doing something that most biotechs don’t, says CEO Brandon McNaugton: practicing the lean startup method, which puts a heavy focus on customer discovery and feedback. It was this process of talking to customers that inspired Ann Arbor, MI-based Akadeum to develop the Application Discovery Program, a tool it uses to help … Continue reading “Akadeum Aims to Disrupt Cell-Sorting Technology with Microbubbles”
Akadeum Life Sciences Secures $1,000,000 Seed Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=01eaf427-d2af-4d9f-b1e9-1f12bf346b60 Date 10/19/2015 Company Name Akadeum Life Sciences Mailing Address 401 W Morgan Rd. Ann Arbor, MI 48108 USA Company Description The company offers its products for use in purifying cells from blood and tissues for research or diagnostics areas; recovering pathogenic bacteria from agricultural and industrial settings for assuring food and … Continue reading “Akadeum Life Sciences Secures $1,000,000 Seed Financing”
Michigan Pre-Seed Fund 2.0 Invests $325K in Five Startups
The Michigan Pre-Seed Fund 2.0 (MPSF), a $6.8 million statewide investment fund that backs early-stage technology companies, has announced its latest batch of capital deployments. The five companies receiving a total of $325,000 range from an Ann Arbor startup that has developed a smart skylight, to a new online tool for college students looking for … Continue reading “Michigan Pre-Seed Fund 2.0 Invests $325K in Five Startups”
Invest Michigan Awards $375K to Four Tech Startups
Invest Michigan announced this week that it has invested $375,000 in four early-stage tech startups through the Michigan Pre-Seed Fund 2.0. Invest Michigan is funded by the Michigan Strategic Fund and has $5.8 million earmarked for investment in high-tech startups with an additional $1 million dedicated to help universities transfer technology to the marketplace. “These … Continue reading “Invest Michigan Awards $375K to Four Tech Startups”
Invest Michigan Awards $275K to Four Early-Stage Tech Startups
Invest Michigan announced this week that it has invested $275,000 in four early-stage tech startups through the Michigan Pre-Seed Fund 2.0. The four startups also secured co-investments worth $3.4 million from private investors, far exceeding the minimum 1:1 matching funds required by Invest Michigan. “All of the startups we funded look like very promising companies … Continue reading “Invest Michigan Awards $275K to Four Early-Stage Tech Startups”
Michigan Pre-Seed Fund 2.0 Makes First Investment in ENT Biotech
[Updated 7/15/14 at 4:49 p.m. See below.] The Michigan Pre-Seed Fund 2.0, a $6.8 million statewide investment fund, announced today that it has made the fund’s first investment in ENT Biotech Solutions, a Detroit-based medical device startup. The company will receive $100,000 toward the development of a surgical tool for use in tonsil, adenoid, and … Continue reading “Michigan Pre-Seed Fund 2.0 Makes First Investment in ENT Biotech”
State Allots $6.8M to Invest Michigan Fund for Seeding Tech Startups
The Michigan Strategic Fund board announced today that is has designated $6.8 million in new state money for the Michigan Pre-Seed Fund 2.0, an investment fund targeting early-stage tech startups statewide. It will be managed by Invest Michigan, a new Detroit-based nonprofit led by Charlie Moret, a Connecticut transplant who most recently served as TechTown’s … Continue reading “State Allots $6.8M to Invest Michigan Fund for Seeding Tech Startups”