eLab Ventures

eLab Ventures is an early-stage venture capital firm founded in 2012, with operations in both Ann Arbor, Michigan, and San Mateo, California. The firm focuses on investing in emerging technology markets, particularly in sectors such as artificial intelligence, big data, and biotechnology. By bridging innovative entrepreneurial ecosystems outside of Silicon Valley, eLab Ventures aims to identify startups that demonstrate disruptive innovations, strong leadership, and capital-efficient business models capable of addressing substantial market needs. The firm is committed to nurturing transformative ideas by connecting entrepreneurs with the necessary capital and expertise to develop impactful companies.

Rick Bolander

Co-Founder & Managing Director

Paul Brown

Partner

Douglas Neal

Co-Founder & Managing Director

Bob Stefanski

Managing Director

25 past transactions

Verge Aero

Seed Round in 2022
Verge Aero, based in Philadelphia, is a company specializing in the development and operation of drone entertainment systems. Founded in 2014, it comprises a team of engineers with expertise in electrical, computer, software, systems, and aerospace disciplines. The company has created advanced drone performance software that enables the control of drone swarms, allowing for seamless integration with existing entertainment setups. This technology facilitates dynamic interactions between drones, audiences, and performers. Verge Aero's near-term applications include recurring drone performances, venue installations, touring productions, and various drone entertainment products, showcasing the innovative potential of unmanned aerial systems in the entertainment industry.

Pulsora

Seed Round in 2021
Pulsora is a San Francisco-based company that offers an enterprise software-as-a-service platform focused on environmental, social, and governance (ESG) compliance. The platform is designed to help organizations manage and enhance their ESG performance through advanced analytics. It allows users to integrate data from various ESG systems, providing customizable frameworks based on existing standards. This capability enables businesses to effectively track their compliance and adapt to changing stakeholder expectations, ensuring they remain aligned with evolving regulatory requirements.

MemryX

Series A in 2021
MemryX Inc. specializes in developing in-memory computing chips designed to enhance performance for data-intensive applications, surpassing traditional CPU and GPU architectures. The company has created the Memory Processing Unit (MPU), a large-scale, non-volatile in-memory compute processor specifically tailored for artificial intelligence, machine learning, edge computing, and big data. Utilizing a novel semiconductor storage technology known as resistive random-access memory (ReRAM), the MPU integrates memory and processing capabilities into cohesive memory-compute blocks. This innovative approach eliminates data movement bottlenecks, providing exceptional energy efficiency and computational density. Established in 2018 and headquartered in Ann Arbor, Michigan, MemryX aims to optimize efficiency and flexibility in computing systems.

Traxen

Seed Round in 2021
Traxen is a developer of a cloud-based intelligent cruise control system aimed at enhancing driving efficiency and safety. The platform is designed to optimize fuel consumption by adjusting driving styles based on various factors, including weather, traffic, and road conditions. By considering the hours of service and time of arrival requirements, Traxen's technology not only helps drivers achieve significant cost savings on fuel but also contributes to lower insurance and training expenses. The company's innovations support safer driving practices, promoting a smarter approach to transportation while contributing to energy conservation and overall safety on the roads.

Refraction AI

Seed Round in 2021
Refraction AI, Inc., an autonomous delivery robot company, builds and deploys robotic platforms to provide goods delivery in urban areas. It offers The REV-1, a delivery robotic vehicle that picks up goods from restaurants, pharmacies, and grocery stores, and bring them directly to the customers’ house. Refraction AI, Inc. was founded in 2017 and is based in Ann Arbor, Michigan.

Refraction AI

Funding Round in 2020
Refraction AI, Inc., an autonomous delivery robot company, builds and deploys robotic platforms to provide goods delivery in urban areas. It offers The REV-1, a delivery robotic vehicle that picks up goods from restaurants, pharmacies, and grocery stores, and bring them directly to the customers’ house. Refraction AI, Inc. was founded in 2017 and is based in Ann Arbor, Michigan.

Voxel51

Seed Round in 2019
Voxel51 is an AI software company that enables computer vision data scientists to rapidly curate and experiment with their datasets in order to build higher performing machine learning systems.

MemryX

Seed Round in 2019
MemryX Inc. specializes in developing in-memory computing chips designed to enhance performance for data-intensive applications, surpassing traditional CPU and GPU architectures. The company has created the Memory Processing Unit (MPU), a large-scale, non-volatile in-memory compute processor specifically tailored for artificial intelligence, machine learning, edge computing, and big data. Utilizing a novel semiconductor storage technology known as resistive random-access memory (ReRAM), the MPU integrates memory and processing capabilities into cohesive memory-compute blocks. This innovative approach eliminates data movement bottlenecks, providing exceptional energy efficiency and computational density. Established in 2018 and headquartered in Ann Arbor, Michigan, MemryX aims to optimize efficiency and flexibility in computing systems.

Refraction AI

Funding Round in 2019
Refraction AI, Inc., an autonomous delivery robot company, builds and deploys robotic platforms to provide goods delivery in urban areas. It offers The REV-1, a delivery robotic vehicle that picks up goods from restaurants, pharmacies, and grocery stores, and bring them directly to the customers’ house. Refraction AI, Inc. was founded in 2017 and is based in Ann Arbor, Michigan.

Traxen

Seed Round in 2018
Traxen is a developer of a cloud-based intelligent cruise control system aimed at enhancing driving efficiency and safety. The platform is designed to optimize fuel consumption by adjusting driving styles based on various factors, including weather, traffic, and road conditions. By considering the hours of service and time of arrival requirements, Traxen's technology not only helps drivers achieve significant cost savings on fuel but also contributes to lower insurance and training expenses. The company's innovations support safer driving practices, promoting a smarter approach to transportation while contributing to energy conservation and overall safety on the roads.

Cobalt

Series A in 2018
Cobalt Labs, Inc. specializes in bitcoin application security solutions and has evolved to offer a modernized platform for penetration testing services. Originally known as CrowdCurity, the company rebranded in 2016 and has since developed a crowdsourced software-as-a-service platform that connects businesses with certified security researchers. Cobalt Central serves as a secure inbox for managing security programs, facilitating bug reports, and enabling interaction with researchers. Additionally, the company provides CrowdCurity, which focuses on bug bounty programs to enhance collaboration between organizations and security experts. Founded in 2013 and headquartered in San Francisco, Cobalt Labs also maintains offices in Berlin and Boston, delivering actionable insights that help organizations identify and remediate software vulnerabilities efficiently.

Rachio

Series B in 2018
Rachio, Inc. provides intelligent sprinkler controllers that enable users to water landscapes smartly. It also offers Iro, a WiFi-enabled device that turns sprinklers on and off remotely, and enables users to schedule irrigation automatically based on factors, such as water budgets, local weather, soil characteristics, and more. The company also offers control and dashboard options through a smartphone application. Rachio, Inc. was founded in 2013 and is based in Denver, Colorado.

Blue Medora

Series B in 2017
Blue Medora is pioneering total IT system insight without plugins. Its software easily connects system health and performance data--no matter its source--with the world’s leading monitoring and analytics platforms, breaking barriers to today’s IT challenges. Based in Grand Rapids, Mich, Blue Medora helps more than 350 customers to unlock Dimensional Data across their IT stack.

Aperia Technologies

Series B in 2016
Aperia Technologies, Inc. specializes in automatic tire inflation devices designed to enhance the safety and efficiency of commercial vehicles. The company's flagship product, the Halo Tire Inflator, is a ring-shaped device that utilizes the rotational motion of a wheel to automatically pump air and maintain optimal tire pressure, addressing issues such as minor leaks and temperature fluctuations. Aperia's products are utilized across various fleet vehicles, including buses, box trucks, tractors, trailers, and refuse vehicles. Founded in 2010, the company operates from Burlingame, California, and distributes its products through a network of dealers in the United States.

Blue Medora

Series B in 2016
Blue Medora is pioneering total IT system insight without plugins. Its software easily connects system health and performance data--no matter its source--with the world’s leading monitoring and analytics platforms, breaking barriers to today’s IT challenges. Based in Grand Rapids, Mich, Blue Medora helps more than 350 customers to unlock Dimensional Data across their IT stack.

Cobalt

Seed Round in 2016
Cobalt Labs, Inc. specializes in bitcoin application security solutions and has evolved to offer a modernized platform for penetration testing services. Originally known as CrowdCurity, the company rebranded in 2016 and has since developed a crowdsourced software-as-a-service platform that connects businesses with certified security researchers. Cobalt Central serves as a secure inbox for managing security programs, facilitating bug reports, and enabling interaction with researchers. Additionally, the company provides CrowdCurity, which focuses on bug bounty programs to enhance collaboration between organizations and security experts. Founded in 2013 and headquartered in San Francisco, Cobalt Labs also maintains offices in Berlin and Boston, delivering actionable insights that help organizations identify and remediate software vulnerabilities efficiently.

Clinc

Seed Round in 2016
Clinc, Inc. is a company that specializes in developing artificial intelligence software applications, primarily focused on creating advanced conversational AI platforms. The technology enables enterprises to build sophisticated virtual assistants capable of understanding and responding to user input with a high degree of accuracy. Unlike traditional speech-to-text systems, Clinc's platform analyzes various factors such as wording, sentiment, intent, tone of voice, and contextual information to provide nuanced responses. This approach is powered by cutting-edge machine learning and deep neural networks, which allow the system to continually enhance its knowledge base with each interaction. Originally founded in 2015 as Clarity Lab Inc., Clinc serves multiple industries, including banking, automotive, gaming, and healthcare, and is headquartered in Ann Arbor, Michigan.

Strata Oncology

Series A in 2016
Strata Oncology is a precision oncology company dedicated to transforming cancer care by expanding patient access to precision medicine clinical trials and accelerating drug approval. Strata's national precision oncology platform serves the needs of patients, providers and drug developers by providing a link from patient screening to streamlined enrollment in mutation-matched clinical trials. Follow us on Twitter @StrataOncology.

Clinc

Seed Round in 2015
Clinc, Inc. is a company that specializes in developing artificial intelligence software applications, primarily focused on creating advanced conversational AI platforms. The technology enables enterprises to build sophisticated virtual assistants capable of understanding and responding to user input with a high degree of accuracy. Unlike traditional speech-to-text systems, Clinc's platform analyzes various factors such as wording, sentiment, intent, tone of voice, and contextual information to provide nuanced responses. This approach is powered by cutting-edge machine learning and deep neural networks, which allow the system to continually enhance its knowledge base with each interaction. Originally founded in 2015 as Clarity Lab Inc., Clinc serves multiple industries, including banking, automotive, gaming, and healthcare, and is headquartered in Ann Arbor, Michigan.

Rachio

Series A in 2015
Rachio, Inc. provides intelligent sprinkler controllers that enable users to water landscapes smartly. It also offers Iro, a WiFi-enabled device that turns sprinklers on and off remotely, and enables users to schedule irrigation automatically based on factors, such as water budgets, local weather, soil characteristics, and more. The company also offers control and dashboard options through a smartphone application. Rachio, Inc. was founded in 2013 and is based in Denver, Colorado.

Akadeum Life Sciences

Seed Round in 2015
Akadeum Life Sciences is working on the problem of isolating mammalian and bacterial cells from complex mixtures. It creates the simplest bioseparation products and fundamentally change the way that isolating cells and other biological targets approached. The company currently uses microbubbles for applications in cell separation and other related areas. Akadeum Life Sciences was founded in 2014 and is headquartered in Ann Arbor, Michigan, United States.

Blue Medora

Series A in 2015
Blue Medora is pioneering total IT system insight without plugins. Its software easily connects system health and performance data--no matter its source--with the world’s leading monitoring and analytics platforms, breaking barriers to today’s IT challenges. Based in Grand Rapids, Mich, Blue Medora helps more than 350 customers to unlock Dimensional Data across their IT stack.

Automatic

Series B in 2015
Automatic's mission is to empower drivers with knowledge about themselves and their cars so they can be safer and drive smarter. Automatic believes that drivers should not have to buy a new car to have a better driving experience, and that the phone in their pocket can bring the future of driving to today's automobiles. Automatic is based in San Francisco, California, but its team comes from every corner of the world. The team obsesses about creating beautiful and well-engineered products that make a real difference in people's lives. Its members are big on ideas, low on ego, and love working together.

Sight Machine

Series A in 2015
Sight Machine specializes in manufacturing analytics and used by Global 500 companies to make better, faster decisions about their operations. Sight Machine's analytics platform, purpose-built for discrete and process manufacturing, uses artificial intelligence, machine learning, and advanced analytics to help address critical challenges in quality and productivity throughout the enterprise. The platform is powered by the industry’s only Plant Digital Twin, which enables real-time visibility and actionable insights for every machine, line, and plant throughout an enterprise. It was founded in 2011 and headquartered in San Francisco, California.

Akadeum Life Sciences

Seed Round in 2014
Akadeum Life Sciences is working on the problem of isolating mammalian and bacterial cells from complex mixtures. It creates the simplest bioseparation products and fundamentally change the way that isolating cells and other biological targets approached. The company currently uses microbubbles for applications in cell separation and other related areas. Akadeum Life Sciences was founded in 2014 and is headquartered in Ann Arbor, Michigan, United States.