Four Startups Receiving Funds from Invest MichiganBy Amanda Lewan on October 29th, 2014 /
Invest Michigan, the state’s investment fund for early stage technology companies, announced this week support of $275,000 to four technology startups.
The four funded companies below have also secured co-investments from private sources totaling $3,483,167, far exceeding the minimum of 1:1 match required for the state’s funds. All of the startups will use the funding to continue to develop their products and grow in the state.
Below are the four Michigan startups receiving funding.
AdAdapted– The world of native advertisements is certainly growing, and this Ann Arbor startup is capturing a piece of the market. AdAdapted has created a premium mobile applications to help provide contextually relevant native advertisements. They claim to have generated 10 times the higher engagement than traditional display advertising and will use the funds to grow.
Denovo Sciences Inc. – Based in Plymouth Denovo Sciences provides clinical research centers with automated technology diagnostic platforms used for cancer monitoring and therapy selections for blood, as opposed to surgical biopsies.
A2B Bikeshare – This Ann Arbor based startup is helping make bike sharing more accessible and affordable. They’ll use their funding to further develop their technology that is placed on bikes to let riders rent them and connect riders to the community. Check out our previous profile on A2B Bikeshare’s smarter bike system
Tetra Discovery Partners – A leader in the chemical design of inhibitors, Tetra Discovery Partners is based in Grand Rapids. This startup will use recent funds to accelerate the entry of their first cognition drug developed by Tetra into human clinical trials.
Charlie Moret formerly of TechTown Detroit now manages this fund as President and CEO of Invest Michigan. The statewide investment Michigan Pre-Seed Fund has a total of $6.8 million available for early stage startups.
“These start-ups are prime examples of the diverse specialties emerging in the tech industry in Michigan,” said Charlie Moret, in a recent press release. They are very diverse, and we hope to see more investments coming soon.
Did your startup recently raise funding in Michigan? Share with us as we continue to profile Michigan startup investment news.