ANN ARBOR – Three more Michigan start-up companies recently received $650,000 in investment commitments through the Michigan Pre-Seed Capital Fund – Arbor Photonics, Armune Bioscience and Aursos.
To date, 28 Michigan companies have received a combined $6 million in critical seed funding through the Michigan Pre-Seed Capital Fund, a collaborative effort of Michigan’s 12 SmartZones.
“The Michigan Pre-Seed Capital Fund has had consistent deal flow since its inception last year, highlighting the need for start-up funding in the state,” said Skip Simms, Michigan Pre-Seed Capital Fund administrator. “Michigan’s start-up economy is thriving and the Pre-Seed Capital Fund is an important catalyst in the success of the businesses choosing to call our state home. More than $6 million has been invested in Michigan’s economic future through the Pre-Seed Fund.”
Recent funding recipients are:
Arbor Photonics, sponsored by Ann Arbor SPARK, received $250,000. Arbor Photonics is developing a 3C optical fiber laser for the manufacturing sector, based on technology developed at the University of Michigan.
Armune Bioscience, sponsored by the Kalamazoo SmartZone, received $200,000. Armune’s prostate cancer diagnostic test and prognostic test make significant advancements from current diagnostic and prognostic tests available on the market today. Armune is also developing a lung cancer diagnostic test and a lung cancer prognostic test.
Aursos, sponsored by the Kalamazoo SmartZone, received $200,000. Aursos specializes in parathyroid hormone (PTH) treatments for osteoporosis that increase bone formation and decrease bone degradation.
To date, 25 additional seed-stage companies have received funding through the Michigan Pre-Seed Capital Fund. Fund recipients are:
XG Sciences, Inc., Lansing
Phrixus Pharmaceuticals, Ann Arbor
Hybra-Drive Systems, LLC, Deerfield
ParkingCarma, Flint
OTO Medicine, Ann Arbor
Pixel Velocity, Inc., Ann Arbor
SensiGen LLC, Ann Arbor
EADevices, Inc., Kalamazoo
MedElute, Inc., Kalamazoo
Danotek Motion Technologies, LLC, Ann Arbor
Saleztrack, Detroit
Compendia Bioscience, Inc., Ann Arbor
Avidimer Therapeutics, Inc., Ann Arbor
RazorThreat, Royal Oak
Functional Brands, Detroit
JADI, Troy
Venomix, Kalamazoo
Accord BioMaterials, Ann Arbor
Cielo MedSolutions, Ann Arbor
Afid Therapeutics, Lansing
ERT Systems, Ann Arbor
Emiliem, Kalamazoo
3IS, Novi
Fulcrum Composites, Midland
Global Energy, Flint
To qualify for the Michigan Pre-Seed Capital Fund, a start-up company must have the sponsorship of its local SmartZone and have received grant, angel or venture capital funding greater or equal to funding requested of the Michigan Pre-Seed Capital Fund.
The Michigan Pre-Seed Capital Fund is an equity investment fund and will receive the same returns on its investment as the third party investor. The returns that the Michigan Pre-Seed Capital Fund receives from its investments will serve as seed money for the Fund’s continuation.
For more information, click on Michigan Pre-Seed Capital Fund
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