Led · Seed · May 2023

Sniffer Robotics built a patented Unmanned Aerial System, the SnifferDRONE™, to automate hazardous, labor-intensive ground-level methane leak detection across landfills, natural gas pipelines, and similar applications. The company’s system replaces manual technician walks, enabling more accurate accounting of methane leaks, enhanced gas collection, and odor reduction. In December 2022 the US EPA approved Sniffer’s automated tool as a qualified vendor for compliance reporting. Sniffer has rapidly become a leading solution and service provider for ground-based emissions monitoring and is used throughout the United States. The company emphasizes a triple benefit—operations, community, and the environment—from its technology. Recent financing is intended to support continued product development and geographic and commercial expansion.

Led · Seed · May 2023

Sniffer Robotics builds a patented, drone-based Unmanned Aerial System (SnifferDRONE™) and accompanying software analytics to detect and locate methane leaks at ground level. The company provides aerial and field services, automation tools, and reporting solutions to improve emission detection, odor identification, and gas-capture revenue. Its system automates a hazardous manual inspection method used at landfills, pipelines, and other land-based sites. In December 2022 the U.S. EPA approved Sniffer’s automated tool for compliance, and the company has completed projects in 28 states across 150+ sites, identifying 16,500+ methane leak sources. Sniffer intends to use the new funding to continue product development and geographic expansion. The company was founded in late 2016 and is led by CEO Arthur Mohr, Jr.

Participated · Equity · Nov 2020

Shoulder Innovations is a medical device company focused on shoulder arthroplasty that designs and commercializes implants and systems for shoulder replacement. Its core product platform centers on the patented InSet™ glenoid design, which testing has shown can significantly reduce glenoid implant micro-motion and simplifies the surgical technique, potentially reducing complications and increasing implant longevity. The company has also developed an anatomic reverse shoulder system designed to work with and maximize the available rotator cuff rather than substitute for it. Shoulder Innovations says it has expanded its product line and strengthened its sales organization and has emerged as a pure‑play leader in shoulder arthroplasty. Financially, the company closed a $40 million Series E equity financing led by U.S. Venture Partners to support commercialization and product development. Proceeds will be used primarily to advance commercialization of the InSet™ Total Shoulder and Reverse Shoulder Arthroplasty Systems, support new product development, and for general corporate purposes. Shoulder Innovations Inc. (SI) is a privately held medical device company based in Grand Rapids, Michigan and described as a leader in the shoulder replacement implant market. The company develops shoulder replacement implants and is supported by a broad team of innovators with experience in the shoulder space. SI announced it has closed an oversubscribed $42 million Series D financing. The financing round was led by Gilde Healthcare Partners. Returning investors included US Venture Partners, Lightstone Ventures and the cultivate (MD) Accelerator Capital fund; new investors include Gilmartin Capital and Aperture Venture Partners. The article does not disclose revenue, user metrics, or detailed use of proceeds. Shoulder Innovations develops a glenoid fixation solution for anatomic shoulder arthroplasty, commercialized as the InSet glenoid. Founded in 2009 and based in Holland, Mich., the company secured issued patents, 510(k) clearance and published multiple peer‑reviewed articles supporting the technology. In 2015 Genesis Innovation Group partnered with the company to provide capital and operational leadership, and Shoulder Innovations recorded its first commercial sale of the InSet glenoid in 2016. Continued investment led by Genesis and its cultivate(MD) Capital Funds and leadership from industry veterans supported ongoing growth and innovation. The company is led by CEO Rob Ball and has completed a $21.6M equity financing to further commercialization. The financing also prompted expansion of the board to six members, including new Series C representatives and two independent directors. Shoulder Innovations is a Holland, Mich.-based medical device company that develops and commercializes shoulder replacement systems. Led by Executive Chairman Rob Ball, the company leverages a patented inset glenoid design to commercialize a shoulder replacement implant system focused on improving outcomes related to glenoid loosening. It designs and commercializes innovative products aimed at improved patient care and reduced overall cost to the healthcare system. The company closed a $2.5M Series A equity funding round and intends to use the funds to accelerate new product development and to acquire inventory and assets to accelerate growth of its current Inset platform technology.

Participated · Equity · Jul 2019

Ocuphire's lead product is Nyxol, a preservative-free ophthalmic formulation of phentolamine mesylate being developed as a once-daily eye drop for night vision disturbances (NVD), glaucoma, reversal of mydriasis and a fixed-dose combo for presbyopia. Nyxol has safety and efficacy data from five Phase 1 and Phase 2 trials and has demonstrated moderately reduced pupil size, significant intraocular pressure lowering, and convenient once-daily dosing. The company is enrolling double-masked, randomized, placebo-controlled Phase 2 trials in glaucoma (ORION-1) and reversal of mydriasis (MIRA-1), and is preparing a Phase 3 study in NVD (LYNX-1). Clinical results from ORION-1 and MIRA-1 are expected later this year; as of mid-July the company had enrolled more than 50% of the 40 patients in ORION-1. Ocuphire has built management, board, clinical and manufacturing partners, and a medical advisory board of ophthalmic KOLs to support development and commercialization. Proceeds from recent financing will be used to fund multiple late Phase 2 clinical trials of Nyxol.

Participated · Seed · Oct 2017

Kumanu provides a wellbeing platform that blends neuroscience research, behavior design principles and machine learning to help individuals increase resilience and achieve lasting behavior change. The company relaunched an AI-driven purpose activation platform and released its flagship application, Purposeful by Kumanu. Kumanu has formed partnerships with technology companies, health care systems, universities and Medicare plans. The company plans to use new funds to accelerate platform and market development focused on mental and social wellbeing, Social Determinants of Health (SDOH), and the application of purpose science to promote pro-social behaviors tied to inclusion and belonging. Kumanu and strategic investor ProMedica will jointly develop solutions to intervene against SDOH-driven risks such as food insecurity, financial strain, housing, behavioral health, transportation, violence risks and childcare. Jool Health offers JOOL Precision Well-Being™, a digital health solution founded on the science of purposeful living, a behavioral approach tied to improved health outcomes. The platform is associated with reduced risk for heart attack, Alzheimer’s disease, and depression, better self-care of chronic conditions, greater resiliency under stress, and increased productivity with fewer sick days. The company is led by founder and CEO Vic Strecher, PhD, MPH. Jool Health is based in Ann Arbor, Michigan. In April 2017 the company closed a $4.5M seed funding round to support growth. The proceeds are intended to accelerate product development, marketing, and sales efforts, and the company added Robert C. Boylen of CVC to its board.