BLOOMFIELD HILLS – Michigan Capital Advisor has made an investment in Ventech, the developer of the Liquid Heat Generator technology used by auto OEMs, Alternative Energy providers and Equipment applications. Terms of the deal were not disclosed. The Ventech LHG provides near instant heat for comfort and safety of the vehicle occupants, with vehicle warm up
SOUTHFIELD - DENSO Corporation subsidiary NSITEXE, a developer of key semiconductor components enabling automated driving, announced it has invested $65 million in ThinCI Inc., an Artificial Intelligence hardware startup developing computing platforms. ThinCI’s programmable computing architecture can accelerate deep learning, AI and other algorithms relevant to the automotive industry and will provide somewhere around 5
KALAMAZOO - Vestaron Corp. seeks to raise $12 million in investments to enable the company to bring to market its environmentally friendly pesticide based on spider venom. Vestaron closed in late June on the first round of the capital raise, netting more than $4.2 million from five existing investors. The capital will go toward producing
GRAND HAVEN — JSJ Corp. has invested $3 million in a startup company that wants to commercialize a device designed to reduce infections acquired in hospitals and other settings. UV Partners Inc.’s UVAngel disinfects surfaces using safe, low doses of ultraviolet light. The device mounts atop surfaces such as computer keyboards, touchscreens and equipment. The system’s sensors
ANN ARBOR — SkySpecs, a company that uses drones to inspect utility wind turbines, announced an $8 million Series B financing led by Statkraft Ventures, a venture capital firm based in Düsseldorf, Germany. Also participating in the funding were UL Ventures, the Northbrook, Ill.-based investment and business acceleration arm of UL, formerly Underwriters Laboratories, the
HOUGHTON - StabiLux Biosciences, a company founded by Michigan Technological University physics professor Yoke Khin Yap, has recently been awarded more than $650,000. The funds are from America’s Seed Fund, powered by the National Science Foundation (NSF) Small Business Innovation Research/Small Business Technology Transfer (SBIR/STTR) program, and the Invest Michigan's University Commercialization Fund (UCF). Yap
DEARBORN - Ford Motor Co. says it will invest $1.2 billion at three Michigan plants, among other things, financing the return of the Ford Ranger mid-sized pickup and the Bronco midsized SUV. The largest part of the investment, $850 million, will take place at the home of assembly of those two models, the Michigan Assembly
ANN ARBOR - Gemphire Therapeutics Inc., a clinical-stage biopharmaceutical company, announced that it has closed on the sale of 1.3 million shares of stock to a select group of accredited investors that will raise about $12.5 million, providing cash flow through 2018. Gemphire Therapeutics will use the money to fund development costs, the company said
GRAND RAPIDS — Drug developer Tetra Discovery Partners LLC said it’s closed on $5 million in new venture capital funding. The Apjohn Group in Kalamazoo and Holland-based Grand Angels led the investment with San Francisco-based venture firm Dolby Family Ventures. The closing elevated a Series A financing for Tetra Discovery to $7.27 million to support development
GRAND RAPIDS - Regional economic development organization The Right Place, Inc., along with its local and state partners in the City of Grand Rapids, announced this week the approval of a Michigan Strategic Fund incentive that will bring 37 new high-tech, life science jobs and $2.8 million in new investment to Grand Rapids over the
