Silicon Valley investors have led a funding round of almost $1.5 million in Ann Arbor-based Akadeum Life Sciences Inc., a spinoff from the University of Michigan, to develop its technology for tissue, water and food testing.
The lead investor, BioInfleXion Point Partners, specializes in early-stage life-science investments. The round was joined by other Silicon Valley and Michigan investors.
“Our fund typically operates in the Bay Area, but the opportunity to invest in Akadeum Life Sciences — our first Michigan investment — is something we couldn’t overlook,” Brock Siegel, a managing partner of BioInfleXion, said in a news release. “They have the perfect combination of a disruptive technology, a smart team that delivers results and operates in a large, fast-growing market.”
“Akadeum is a great example of the type of exciting investment opportunities that exist in Michigan,” said Doug Neal, a managing director of Ann Arbor-based eLab Ventures LLC, a firm headed up by Silicon Valley veterans with an office in California, whose business model is finding West Coast investors for Michigan tech companies.
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