Ann Arbor SPARK has announced a $150,000 investment in M3D as part of the company’s pre-seed funding round. This investment marks a significant milestone as the second deployment of funds from the Michigan Innovate Capital Fund (MICF) allocation, following an agreement that sees Ann Arbor SPARK investing $5 million over a 2.5-year period.
M3D, an innovative startup in the medical device industry, is developing technology that provides real-time detection and 3D imaging of radiation. This groundbreaking approach, built on M3D’s proprietary 3D CZT technology, is poised to redefine medical imaging and safety standards. By delivering high-quality images faster, with smaller and more cost-effective devices, M3D addresses critical needs in both medical and safety applications. For the medical sector, their technology ensures that high-precision incisions and surgeries can be carried out with greater accuracy and efficiency, particularly beneficial during intricate procedures such as cancer surgeries.
“This investment from Ann Arbor SPARK and its partners is a strong endorsement of our work at M3D, highlighting the collaborative effort within Michigan’s innovation ecosystem to push forward healthcare technologies,” stated Michael Hopkins, the founder of M3D and a serial entrepreneur with three prior exits.
M3D’s roots with Ann Arbor SPARK extend beyond this investment. M3D is a spin-out of Ann Arbor-based H3D, which creates high-performance imaging spectrometers for the international defense and security markets. H3D won first place at SPARK’s Entrepreneur Boot Camp program in 2011, laying the foundation for its success.
Now, M3D is also leveraging SPARK’s entrepreneurial resources for success including incubator space, grant funding, and now investment dollars.
“SPARK’s decision to invest in M3D was driven by the startup’s talented team and their capacity for innovation in cancer detection and treatment,” said Mike Flanagan, vice president of capital programs at Ann Arbor SPARK. “We see M3D’s technology as a significant leap forward in medical imaging and safety, which can redefine industry standards and improve patient care.”
In this investment round, Ann Arbor SPARK is joined by Invest Detroit Ventures and Michigan Rise, both recipients of the MICF program, as well as Accelerate Blue and angel investors. This partnership highlights a joint effort to promote innovation in the region.
