Investment in Michigan startups hit a 15 year high in the first quarter of 2015.
"Twelve companies across the state collectively received $75.3 million in venture capital investments from January to March, according to the MoneyTree report from the National Venture Capital Association and PricewaterhouseCoopers using data from Thomson Reuters. That compares to 14 deals for $37.1 million in the same period in 2014 and was the best first quarter since the 17 deals for $142.9 million to start 2000.
Two of the recent deals included companies in West Michigan.
Apjohn Ventures invested $3.5 million in Kalamazoo-based Armune BioScience Inc., which is commercializing a new-generation blood test for men suspected of having prostate cancer.
Meanwhile, Grand Rapids-based software firm Buoy76 LLC received $950,000 from Start Garden LLC, Huron River Ventures in Ann Arbor, Detroit Development Ventures and an undisclosed investor, according to the report. Buoy76 is developing Sportsman Tracker, a mobile application that forecasts the best time and location for hunters and anglers as well as their probability of success."
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