Press

This is a press release about portfolio company, SkySpecs.

ANN ARBOR, Mich., Dec. 20, 2019 /PRNewswire/ — SkySpecs, leading provider of Operations & Maintenance solutions for the wind energy industry, today announced that it’s closed a $17 million series C round. The Ann Arbor-based company experienced a heavy-growth year, tripling its staff, significantly building out its solutions offerings for the wind energy industry, and reaching a landmark 30,000 fully autonomous inspections. SkySpecs set its sights on using technology like AI, machine learning, robotics, and software, to optimize operations & maintenance in order to enable better decision making about repairs and proactive planning. Their mission is to continue driving change in the renewable energy sector such that technology and automation enable higher levels of global accessibility.

The round was  led by McRock iNFund LP, an Industrial Internet of Things (IIoT) venture capital fund managed by McRock Capital.  Other new investors in the round included Equinor Energy Ventures, and

NEW YORK—(BUSINESS WIRE)—Bloomscape, the direct-to-consumer online plant shop that delivers plants directly from the greenhouse to consumers’ front doors, today announced a partnership to sell houseplants through West Elm online at WestElm.com/Bloomscape. The partnership is Bloomscape’s first with a major retailer and will serve as West Elm’s exclusive ecommerce potted plant partner, complementing its assortment of original, modern designs for the everyday.

Bloomscape will provide greenhouse-fresh, lush plants for West Elm’s online customers in the US. Carefully curated by Bloomscape, each live, potted plant ranges from small to extra large in size and comes with simple, customized care instructions to make plant parenting easy.

Bloomscape is the only direct-to-consumer plant company that has th

ANN ARBOR, Mich.—(BUSINESS WIRE)—HT Mobile Apps, (HTMA), announced today that the company saw record success in 2019, entering 2020 with focus and strength. This continued growth is attributed to HTMA’s engaging apps: Plinqit, Banker Jr., Member Jr., and Hip Pocket.

Created to provide community financial institutions with cost-effective customer acquisition, Plinqit saw substantially higher user engagement (55 percent on average) compared to other finance apps that have an average engagement rate of only 36.3 percent. Also, since its launch, more than half of Plinqit users have completed their savings goal with the majority of those users already starting new goals. This increased interaction with the app contributed to rapid growth with total Plinqit deposit growth of 287 percent.

With the savings platform&

ANN ARBOR, Mich., Dec. 19, 2019 /PRNewswire-PRWeb/ — Akadeum Life Sciences, Inc. announced an initial close of its Series A financing. The company is pursuing additional investment before final close during Q1 2020. These funds will enable Akadeum to focus its commercial adoption on how to solve longstanding problems in sample preparation.

The investment includes several Michigan-based angel groups in addition to venture groups—such as University of Michigan MINTS—as well as Bay Area-based Berkeley Catalyst Fund, which invests in life science and material science companies. Ted Hou, managing director of Berkeley Catalyst Fund, said, “Akadeum becomes just the second investment for us outside the Bay Area because we believe they have the team, the technology, and the approach to seize multiple market opportunities.”

Concurrent with this round of funding, William Hyun joined Akadeum’s Board as a Series A Director. A respected expert in both research and clinical technology development, Dr. Hyun is recognized for his ability to identify biotechnology opportunities in transformative markets. Dr. Hyun said, “Multiple market segments have been waiting for and are in need of a next-generation isolation solution, and Akadeum has that solution. That is why I’m a repeat investor and

NEW YORK – Computational technology company Nvidia has acquired sequencing analysis software developer Parabricks. Terms were not disclosed.

Nvidia founder and CEO Jensen Huang announced the deal Tuesday on stage at the company’s GPU Technology Conference China. 

Ann Arbor, Michigan-based Parabricks has developed technology that leans on graphics processing units to accelerate the analysis of whole genomes to less than one hour. A partnership with DDN Storage yielded 100x acceleration of precision medicine workflows, Parabricks said in 2018.

In 2020, Parabricks is set to release companion technology accelerating single-cell and RNA analysis, according to Nvidia. 

“We are excited to have the Parabricks team join NVIDIA and double down on providing fast and accurate genome analysis tools to take genomics to the next level,” Kimberly Powell, Nvidia vice president of healthcare, said in a statement.

“Our focus has been on speeding up [genome analysis] applications and making them enterprise-grade, push-button solutions,” added Parabricks Cofounder and CTO Ankit Sethia. The tie-up with Nvidia, which offers both GPUs and artificial intelligence, will allow the company to “transform traditional analyses such as variant calling and others in the overall sequencing workflow.”

Shoulder Innovations announced today that it won FDA clearance for its InSet Plus augmented glenoids for the InSet total shoulder system.

The Holland, Mich.-based company’s InSet system is designed to treat significant disability in degenerative, rheumatoid and traumatic disease of the glenohumeral joint and avascular necrosis of the humeral head. Shoulder Innovations said its product is supposed to simplify shoulder replacement technology.

With the new InSet Plus augmented glenoids, the system includes an angled articular surface. The glenoids are available in both 5° and 10° variants with multiple diameters, according to a news release.

The InSet Shoulder System demonstrated improved stability with an 87% reduction in implant micro-motion when compared to standard glenoid design, according to data published in the Journal of Shoulder and Elbow Surgery (JSES). The results also found no complications, no cases of glenoid implant loosening and no revision surgeries at the mean 8.7-year follow-up.

“We are excited to see the InSet glenoid product line expanded to include our InSet Plus glenoid,” Shoulder Innovations chief commercialization officer D

GRAND RAPIDS, Mich.—(BUSINESS WIRE)—Tetra Therapeutics, a clinical-stage biopharmaceutical company developing novel treatments for patients with cognitive impairment and memory loss, today announced a poster presentation at the 12th Clinical Trials on Alzheimer’s Disease Meeting (CTAD) being held in San Diego, from December 4 – 7.

The poster, titled “Tumor Necrosis Factor (TNF) Blocking Agents Reduce Risk for Alzheimer’s Disease in Patients with Rheumatoid Arthritis and Psoriasis,” highlights data from a retrospective population-based study of 56 million patients in which inflammatory disease in the body is shown to increase risk for Alzheimer’s disease and that risk can be reduced in these patients by treatment with a TNF blocking drug. The study was conducted in conjunction with Case Western Reserve University.

“Our analysis demonstrates the value of a large, population-based database covering 20% of the entire US population. We find that inflammation in the body increases risk for Alzheimer’s disease across multiple diseases involving the joints, the gut and the skin,” said Mark E. Gurney, Ph.D., Chairman and Chief Executive Officer of Tetra Therapeutics and co-author of the study. “The study further indicates that the risk for Alzheimer’s disease can be reduced in patients with rheumatoid ar

Orbion, Michigan-based space propulsion startup has now been made a new partner by the U.S. Department of Defense (DOD). Orbion has signed a research contract from the U.S. Air Force Research Laboratory’s Propulsion Directorate. The deal is specifically aimed at helping the DOD enhance the resiliency of the U.S. systems in space.

The interesting thing is to see how Orbion’s propulsion technology can be applied to DOD satellites when used in large constellation forms. The propulsion system would provide those satellites appropriate thrust while in orbit and do so cost-effectively. In a press release announcing the news, Orbion CEO, Brad King, said that volume is a strategy when it comes to fortifying the U.S. systems in space against potential foreign attacks.

Words from Orbion CEO

 According to King, by building and deploying small satellites in large numbers with low cost, the U.S. can improve the resilience of space systems. He stated, “Orbion is developing mass-production techniques to build propulsion systems for commercial customers. With this research contract, we are investigating how or if our manufacturing processes must be modified to meet DOD requirements”.

Three months ago Orbion secured $9.2 million in Series A funding, which they planned to use in mass-producing plasma thrusters for small satellites. Orbion’s thrusters are based on a phenomenon known as the Hall-effect. The thrusters use an electric field to accelerate their propellant and create thrust. The hall-effect thruster

DETROIT—(BUSINESS WIRE)—Autobooks is a small business payment and accounting platform integrated within a financial institution’s digital banking experience. Today, the company announced that it has been named to the Benzinga Fintech Listmakers and acknowledged for outstanding performance in the best new product category.

.@Autobooks_ announced that it has been named to the Benzinga Fintech Listmakers and acknowledged for outstanding performance in the best new product category.

To celebrate its fifth anniversary, Benzinga honors winners for the advancements their companies are making in financial technology. The Benzinga Fintech Listmakers are comprised of 150 carefully vetted and renowned companies and executives who are striving to revolutionize the fintech industry. From deeply established companies to the newest startups, this group is impacting sectors like payments, banking, investing, technology and financial literacy.

The list of carefully selected companies will be honored each year as Benzinga continues to highlight the fintech industry’s most innovative minds. Jason Raznick, CEO of Benzinga, said, “We’re recognizing the companies that will define the future of our fina

HOUGHTON, MICH.

Just two years ago, Orbion Space Technology was a start-up company. Since its incorporation, Orbion has skyrocketed with an increasing amount of recognition.

Orbion was recently named Up and Coming Company of the Year by the Michigan Venture Capital Association. Earlier this year, Orbion also won the Excelerate Michigan Innovation competition, which is an award to the best technology start-up company in the state of Michigan. That award came with a $500,000 prize.

In August of this year, Orbion announced it had raised $9.2 million in Series A funding to mass produce its Aurora plasma thruster systems for small satellites. The funding was led by Material Impact, a venture capital firm focused on investing in innovating technologies and also include Invest Michigan, Invest Detroit, Wakestream Ventures, Ann Arbor SPARK, and Boomerang Catapult.

“That’s a recognition that we’re growing, and growing fast,” Brad King, Orbion CEO and co-founder, told The Daily Mining Gazette of the company’s awards, “and we have a lot of visibility.”

Orbion Space Technology is the developer and manufacturer of revolutionary plasma propulsion systems for small satellites. Because of their fuel efficiency, Orbion’s thrusters can save spacecraft operators millions of dollars in operating costs, while increasing the value of the spacecraft’s data product.

The business spun out of King’s research work at Michigan Technological University, where he is a Professor and Director of Research in Mechanical Engineering-Engineering Mechanics.

Space technology is all the rage these days. But when most people think about it, they picture giant rockets like SpaceX’s Falcon Heavy, designed to take astronauts to the moon and Mars. It’s one of many amazing breakthroughs for certain. Yet Brad King, CEO and co-founder of Orbion Space Technology, will tell you that’s only a tiny part of what’s coming when it comes to space innovations.

Orbion is a propulsion technology start-up based in Houghton, Michigan. Founded in 2017, the company raised $10 million in funding in its Series A round this past October. They think they’re jumping into the market at just the right time, with potential market opportunities growing substantially. “It’s not inconceivable that in seven years, the business just for small propulsion units will reach the $1 billion mark for annual sales,” he said. “Just last year, Morgan Stanley and Merrell Lynch said that space is the next trillion-dollar economic opportunity.”

The Orbion 20 thruster is designed for small satellite propulsion

Orbion - which was just this week named Up- and-Coming Company of the Year by the Michigan Venture Capital Association - is focused on serving what King says will soon be an enormous market in small satellites. “Framing our whole business and reason for being is ‘New Space,’” he explained. “For the last four

ANN ARBOR, Mich.—(BUSINESS WIRE)—

Provider of popular savings app, Plinqit, taps industry expert in response to rapid growth after institutions see strong customer engagement and significant deposit growth

HT Mobile Apps (HTMA), an innovative FinTech company serving banks and credit unions across the country to easily and cost-effectively introduce new services for attracting and retaining customers, announced Scott Stein as Senior Vice President of Sales to support the growing consumer demand for its solutions, including its popular Plinqit savings platform.

Stein brings more than 30 years of corporate strategy, sales, marketing and operations experience to HTMA. Formerly a founding member of Silicon Valley-based Rasna Corporation (later purchased by Parametric Technology Corporation), Stein has proven experience rapidly growing start-ups, increasing his previous company’s revenues to $20 million within a fe

DETROIT—(BUSINESS WIRE)—

Detroit-based fintech recognized for transforming small business banking services

Autobooks is a small business payment and accounting platform integrated within a financial institution’s digital banking experience. Today, the company announced that it has been named one of two winners of Forbes’ Under 30 Summit Startup Pitch Competition.

As Forbes’ largest annual event, the 2019 Forbes Under 30 Summit hit record attendance with more than 9,000 people joining together in Detroit from Oct. 27th to 30th. Partners, analysts, and associates from 33 venture firms heard pitches from the 154 startups that competed, before selecting the top five to compete for the chance to win a $250,000 media package. Autobooks’ Kyle Bazzy competed on the mainstage during a five-minute pitch competition followed by a Q&A in front of ThirdLove’s co-founder and CEO Heidi Zak, Rock Ventures’ executive vice president Dhani Jones, Shutterstock’s founder and CEO Jon Oringer, and Yale University’s Sterling Professor of economics Robert J. Shiller.

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Genomenon® announced the release of Mastermind® version 2.0 today. The Genomic Search Engine now includes the ability to search the entirety of the genomic literature by phenotypes (symptoms). This new functionality will further accelerate diagnosis of patients with genetic and rare diseases.

Patients, particularly those with rare diseases, don’t always have a name for their condition. This makes it very difficult to diagnose and treat their disease. The ability to search the genetic literature by symptoms (following the Human Phenotype Ontology, or HPO) helps clinicians narrow their diagnosis to the appropriate disease and treatment.

Genomenon’s Mastermind Genomic Search Engine is the world’s largest and most complete source of genomic evidence. Doctors and researchers use Mastermind to find the scientific evidence relevant to their patients’ DNA profile for diagnostic and therapeutic recommendations. The new release of Mastermind includes a more streamlined search function to help doctors more quickly scour through the millions of research articles to find cases that match their patients’ genomic profile and symptoms.

The ability to search by phenotype was the top feature requested by the children’s hospitals and genetic testing labs that use Mastermind

ANN ARBOR, Mich.—(BUSINESS WIRE)—The Milford Bank announced today that it will offer Plinqit, a brandable, savings app and the only savings tool that pays users for engaging with content, helping customers save money and increase financial wellness.

“With Plinqit, we can provide customers a digital experience that helps them save while also providing them with The Milford Bank’s personalized customer service”

Established in 1872, The Milford Bank was formed to serve the financial needs of its customers and its community. Since the beginning, the bank’s goals have not changed. When The Milford Bank wanted to provide a cost effective, simple way for customers to sav