MSU Research Foundation’s Captive Venture Funds Close 24 Investments
October-December 2024 Update: The Michigan State University Research Foundation backs a diverse range of startups through its Red Cedar Ventures and Michigan Rise Pre-Seed III investment funds, supporting companies in healthcare, education, consumer products, and more.
EAST LANSING, Mich. (Jan. 21, 2024) — The Michigan State University Research Foundation announced 24 new investment and purchase order financing transactions in startup companies through its Red Cedar Ventures and Michigan Rise Pre-Seed Fund III investment subsidiaries between October and December of 2024.
“Our investments last quarter reflect the incredible range of talent and ideas in Michigan’s startup ecosystem," said Jeff Wesley, Executive Director of Ventures at the MSU Research Foundation. “They include companies based in our Grand Rapids, East Lansing, and Detroit incubator spaces, as well as university spinouts, early-stage companies achieving significant funding milestones, and follow-on investments."
The Red Cedar Ventures Pre-Seed Fund supported the following companies:
ArtClvb: An online platform that helps artists sell artwork, connect with collectors, and earn royalties through a user-friendly marketplace.
Bit-Farms: Creates subscription-based micro-farms for schools, restaurants, and organizations to grow fresh, sustainable produce on-site, reducing waste and transportation costs.
BlueLateral: Develops wireless devices that deliver Bilateral Stimulation (BLS) via Bluetooth, using an app to reduce stress, anxiety, and distressing memories in therapy settings, aiding emotional regulation and reducing PTSD symptoms.
Halfdays, Inc: Creates technical ski and outdoor apparel for women, designed to make the outdoors more inclusive, approachable, and enjoyable.
MoveFactor X: Produces portable movement sensors that track and provide real-time feedback on exercise performance, helping users improve strength, power, and movement quality in sports and rehabilitation.
Odin Classroom: Offers a reliable and user-friendly coding platform designed for computer science education in academic settings.
Ride YourWay: Provides non-emergency medical transportation services in Michigan, including ambulatory, wheelchair, bariatric, and dialysis transport.
Thermal: A fashion tech platform that uses an advanced database to curate personalized digital showrooms, allowing users to find outfits by searching with text prompts or images.
“Michigan Rise had a particularly active quarter, with investments totaling over $2 million,” Wesley added. “We're very pleased with the diversity of these investments and their broad statewide impact.”
The Michigan Rise Pre-Seed Fund III supported these companies:
Coordinista: A nurse-designed platform and mobile app enabling centralized coordination and decentralized execution of care delivery for high-acuity and high-risk populations.
Coronation Bio: Developing alternatives to GLP-1 based drugs for managing obesity and related diseases.
CrankBio: Creates targeted medical treatments for genetic diseases by delivering specialized RNA therapy directly to cells.
HAPPE Spine: Develops implantable fixation devices designed to improve spinal fusion surgery outcomes through enhanced stabilization and support.
JustAir: Provides comprehensive air quality management solutions, partnering with communities to increase well-being and promote environmental justice.
M3D, Inc.: Designs gamma radiation detection cameras for medical and safety applications.
MotMot: Helps water utility managers monitor and maintain drinking water infrastructure more effectively using autonomous underwater robotics.
Parallel Robotics: Developers of MediBot, a handheld robotic platform for minimally invasive surgery, offering intuitive controls to improve safety, reduce surgery times, and enhance patient outcomes.
Pathways GI: Creates medical software that helps doctors analyze colonoscopy videos more quickly and accurately using advanced imaging technology.
Portera Therapeutics: Leverages proteasome enhancer technology to target cancer and neurological disorders, focusing on diseases caused by intrinsically disordered proteins.
Protera Health: Provides virtual, clinician-led musculoskeletal (MSK) care, integrating multidisciplinary services to improve patient outcomes and reduce healthcare costs.
Protein Pints: Produces high-protein, low-sugar ice cream with 45 grams of whey protein, offering a healthier dessert option developed by student entrepreneurs.
Stunio: Connects businesses and homeowners with college students, providing a quick and easy way to find reliable part-time workers.
WizeHire: An award-winning hiring platform combining software with expert support to help businesses build their teams confidently.
The Foundation also supported the following companies with access to working capital through the Michigan Rise Purchase Order Financing program:
Civilized Cycles: Builds compact electric vehicles designed to provide efficient and sustainable transportation for urban passengers and cargo.
The LipBar: Offers beauty products for diverse complexions using vegan, cruelty-free ingredients designed by women of color.
"We’re excited to help all these companies grow and bring their innovative solutions to market, creating opportunities and making a real difference across industries," Wesley concluded.
The Red Cedar Ventures and Michigan Rise Pre-Seed Fund III investment funds provide critical support to tech startups at various stages of development. Red Cedar Ventures' Pre-Seed Fund offers early-stage funding to help startups launch and secure additional investment, while the Opportunity Funds I and II provide follow-on funding as portfolio companies grow. The MSU Research Foundation established the Michigan Rise Pre-Seed Fund III in partnership with the Michigan Economic Development Corporation (MEDC), offering funding, coaching, and grant assistance to Michigan-based tech startups. Together, these funds deliver comprehensive financial support and resources to startups throughout their journey in the technology sector.
For more information about the MSU Research Foundation, its investment funds and portfolio companies, visit msufoundation.org.