Invest Michigan

Invest Michigan is a non-profit organization based in Northville, Michigan, established in 2014 and funded by the Michigan Strategic Fund. It serves as the fund manager for both the Michigan Pre-Seed Fund 2.0 and the University Commercialization Fund, focusing on early-stage high-tech businesses within the state. The Michigan Pre-Seed Fund 2.0 aims to support pre-seed and seed stage technology companies through initial investments ranging from $50,000 to $150,000, with the potential for additional follow-on investment. Meanwhile, the University Commercialization Fund offers up to $100,000 for the commercialization of technologies developed at any of the 15 public universities in Michigan, contingent upon a signed option or license agreement from the respective Technology Transfer Offices. Invest Michigan's mission is to foster innovation and economic growth by nurturing local entrepreneurial talent.

Charlie Moret

President, CEO and Chairman

13 past transactions

Refraction AI

Seed Round in 2021
Refraction AI, Inc. is an autonomous delivery robot company based in Ann Arbor, Michigan, founded in 2017. The company specializes in developing and deploying robotic platforms that facilitate last-mile goods delivery in urban environments. Its flagship product, the REV-1, is designed to autonomously navigate through city streets using an array of cameras, radar, and ultrasonic sensors, allowing it to pick up goods from restaurants, pharmacies, and grocery stores and deliver them directly to customers' homes. Refraction AI's technology is engineered to operate in various climates and can be monitored and operated remotely, ensuring efficient and reliable service. By enhancing the delivery process, Refraction AI aims to meet the increasing demand for faster, safer, and more cost-effective delivery solutions.

Shoulder Innovations

Venture Round in 2020
Shoulder Innovations, Inc. is a medical device company based in Holland, Michigan, specializing in orthopedic solutions for shoulder replacement surgery. Founded in 2009, the company has developed an advanced Total Shoulder Replacement System that features innovative inset glenoid fixation technology, addressing the critical issue of glenoid implant stability during shoulder arthroplasty. This technology not only enhances the robustness of the glenoid platform but also simplifies the surgical instrumentation, aiming to reduce operative time and costs. The company's products are marketed through distribution partners in the United States and are designed to improve patient outcomes by minimizing the risk of glenoid loosening, which is a leading cause of revision surgeries. By focusing on reliable fixation and simplified surgical techniques, Shoulder Innovations strives to enhance the efficacy and longevity of shoulder implants while potentially lowering overall healthcare costs.

Ripple Science

Venture Round in 2020
Ripple Science Corporation is a software development company based in Ann Arbor, Michigan, that specializes in web-based solutions for the health sciences sector. Founded in 2016, the company focuses on facilitating the recruitment and management of participants in clinical, translational, and social science studies. Its flagship product, Ripple SaaS, enhances participant recruitment by employing sales and marketing automation tools tailored to research needs. The software supports a range of functionalities, including study dashboard management, recruitment campaign oversight, and participant tracking, which are crucial for academic investigators, clinical trial sites, and contract research organizations. Ripple Science's solutions are currently utilized by over 75 academic and research institutions globally, demonstrating its commitment to improving the efficiency and effectiveness of clinical research.

Orbion Space Technology

Series A in 2019
Orbion Space Technology, Inc., established in 2016 and headquartered in Houghton, Michigan, specializes in developing and manufacturing plasma propulsion systems tailored for small satellites. The company's electric propulsion technology significantly reduces operational costs and enhances the value of satellite data products. Orbion's innovative manufacturing approach enables high-volume production of these thrusters, catering to the growing demand for space revolution applications such as last-mile delivery, on-orbit maneuvering, collision avoidance, and safe de-orbiting at mission end.

ONL Therapeutics

Convertible Note in 2019
ONL Therapeutics, Inc. is a biopharmaceutical company based in Ann Arbor, Michigan, focused on developing innovative therapies to protect and improve vision in patients with retinal diseases. Established in 2006, the company specializes in creating photoreceptor protective agents that target the FAS apoptotic pathway, offering potential protection for photoreceptors. Its drug programs are designed to address serious, vision-threatening conditions, including retinal detachment, ultimately aiming to enhance surgical outcomes and patient quality of life through the use of small-molecule peptides.

GreenMark Biomedical

Seed Round in 2019
GreenMark Biomedical Inc. is a minimally invasive healthcare company focused on developing innovative technologies utilizing biopolymer nanoparticles derived from natural starch. Founded in 2016 and based in East Lansing, Michigan, with a laboratory in Ann Arbor, the company specializes in dental and medical applications. Its dental technologies include a mouth rinse product that illuminates cavities and early-stage lesions, allowing dentists to accurately diagnose and treat tooth decay. Additionally, GreenMark's medical technologies are designed for targeted delivery of anti-cancer drugs, enhancing treatment precision. The company aims to provide health benefits through its advanced nanoparticle-based solutions, promoting less invasive and more effective healthcare practices.

SpellBound

Seed Round in 2018
SpellBound, established in 2015 and headquartered in Ann Arbor, Michigan, specializes in developing immersive augmented reality tools tailored for hospital care teams. Their platform transforms books, spaces, and printed materials into interactive 3D experiences, aiming to enhance patient engagement during treatment, reduce healthcare costs, and improve overall patient experience. SpellBound's solutions are compatible with widely-used iOS and Android devices, making them easily accessible to therapists and families within hospitals.

Fusion Coolant

Series C in 2018
Fusion Coolant Systems, Inc. specializes in the manufacturing and marketing of innovative coolant and lubrication systems that utilize supercritical carbon dioxide for various industrial applications. The company's product offerings include the Pure-Cut 1000 and LUBE-CUT 1600 machines, which deliver supercritical CO2 with varying lubrication rates tailored for different cutting processes. Fusion Coolant's patented CHiP Lube system represents a significant advancement in metalworking fluids, offering a cleaner alternative to traditional oil and water mixtures, thereby enhancing production rates and tool longevity while minimizing health hazards and environmental impact. The company's solutions are employed across multiple sectors, including medical, automotive, aerospace, and defense, and are supported by infrastructure products such as carbon dioxide storage tanks and pumps. Founded in 2009 and headquartered in Canton, Michigan, with an additional office in Saint-Priest, France, Fusion Coolant has established a strategic partnership with Air Liquide to bolster its market presence.

Bloomscape

Seed Round in 2018
Bloomscape, Inc. is an online retailer based in Detroit, Michigan, specializing in the sale of houseplants and related care products. Founded in 2017, the company offers a variety of fully grown potted plants, including species such as tradescantia zebriana, pinstripe, and marble queen pothos, among others. Bloomscape simplifies the plant-buying experience by delivering ready-to-go plants directly to customers' doors, accompanied by post-purchase care instructions and support. Additionally, the company provides a Plant Mom service, allowing customers to seek expert advice on plant care. Through its platform, Bloomscape aims to enhance the relationship between individuals and their plants, making it easier for customers to incorporate greenery into their homes and gardens.

Fifth Eye

Seed Round in 2018
Fifth Eye Inc. is a medical software company based in Ann Arbor, Michigan, specializing in real-time analytics for patient health monitoring. The company develops an innovative clinical decision support system that continuously analyzes a patient's hemodynamic status to predict the risk of instability. Its advanced software utilizes artificial intelligence to process real-time ECG data, enabling minute-to-minute assessments and providing healthcare professionals with early warnings of potential complications hours in advance of traditional methods. By offering continuous patient trajectory forecasts and historical trend analyses without requiring electronic health record inputs, Fifth Eye aims to enhance proactive patient care, improve clinical outcomes, and reduce hospital costs. Formerly known as Trove Analytics, Inc., Fifth Eye was incorporated in 2017 and rebranded in June 2018.

Mi Padrino

Seed Round in 2018
Mi Padrino is an event planning service dedicated to assisting families in organizing and funding celebrations rooted in Hispanic traditions, such as QuinceaƱeras, weddings, and baptisms. Founded by Kim Gamez, who recognized the complexities involved in coordinating these significant events, Mi Padrino offers a user-friendly platform that allows users to manage and share event details with friends and family worldwide. This innovative service streamlines the planning process by providing an all-in-one solution for event organization, enabling users to easily share their special moments and receive financial contributions from loved ones, regardless of their location. Through Mi Padrino, families can celebrate their traditions with greater ease and efficiency.

Ripple Science

Seed Round in 2018
Ripple Science Corporation is a software development company based in Ann Arbor, Michigan, that specializes in web-based solutions for the health sciences sector. Founded in 2016, the company focuses on facilitating the recruitment and management of participants in clinical, translational, and social science studies. Its flagship product, Ripple SaaS, enhances participant recruitment by employing sales and marketing automation tools tailored to research needs. The software supports a range of functionalities, including study dashboard management, recruitment campaign oversight, and participant tracking, which are crucial for academic investigators, clinical trial sites, and contract research organizations. Ripple Science's solutions are currently utilized by over 75 academic and research institutions globally, demonstrating its commitment to improving the efficiency and effectiveness of clinical research.

Ripple Science

Pre Seed Round in 2017
Ripple Science Corporation is a software development company based in Ann Arbor, Michigan, that specializes in web-based solutions for the health sciences sector. Founded in 2016, the company focuses on facilitating the recruitment and management of participants in clinical, translational, and social science studies. Its flagship product, Ripple SaaS, enhances participant recruitment by employing sales and marketing automation tools tailored to research needs. The software supports a range of functionalities, including study dashboard management, recruitment campaign oversight, and participant tracking, which are crucial for academic investigators, clinical trial sites, and contract research organizations. Ripple Science's solutions are currently utilized by over 75 academic and research institutions globally, demonstrating its commitment to improving the efficiency and effectiveness of clinical research.
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