FARMINGTON
HILLS – What does a cancer diagnostics company, a drone delivery startup, a
towel-inventory management system and Detroit-based bicycle maker have in
common? They all pitched Great Lakes Angels investors Monday at the last GLA
meeting before the summer break.
More than a
dozen potential investors sat through 15-minute presentations, and 10 minutes
of questions and answers, then privately rated the investability of each
company. In order of appearance, pitches were delivered by:
Armune
BioScience develops and commercializes molecular diagnostic and prognostic
tests for prostate, lung, and breast cancers that may allow physicians and
patients to make more personalized treatment decisions. The company was founded
by members of the Apjohn Group business accelerator. The company’s corporate headquarters
are in Kalamazoo and the laboratory is in Ann Arbor. Armune BioScience licensed
its technology from the University of Michigan. Target customers are the 10,000
urologists in the United States.
To find out
more, click on http://armune.com
Detroit
Bikes, the largest by-volume bicycle maker in the United States, making two
styles of commuter bikes from a 50,000 square foot factory on Detroit’s West
side. The bikes cost $700 retail and are sold through nearly a thousand bike
shops. Detroit Bikes just won a $1 million contract from New Belgium Brewing
Company, the brewer of Fat Tire Beer, for 2,415 customized Detroit Bikes. If
the factory reaches full production, Detroit Bikes could make 50,000 bikes a
year. Detroit Bikes targets the consumer that cares where and how their product
is made. This consumer tends to have more disposable income, and is willing to
spend more for locally made products. Customers tend to fall into two
categories: men over 55 and early adapters.
To find out
more, click on http://detroitbikes.com/
Towel
Tracker LLC, a clean tech inventory management solution provider that offers a dispenser
and return unit about the size of a double refrigerator that helps resorts,
fitness centers, and hospitals, prevent towel and medical scrub theft by
integrating RFID technology into each item, then monitoring usage through a
patented dispensing unit that assigns towels to guests. Unreturned items can be
charged to the guest. A major benefit is laundry volumes typically drop by 40
percent since guests only take the actual number of towels they need. The
target market are high volume (1,000 plus towels per day) and multi-store
operators like LA Fitness and Gold’s Gym. The company is based in Grand Rapids.
To find out
more, click on http://www.toweltracker.com/
Vayu, based
at the Willow Run Airport in Ypsilanti, designs and manufactures an Unmanned
Aerial Vehicle, more commonly called a drone, that the company hopes will
revolutionize the way small goods (four pounds or less) will be delivered in
Low to Medium income countries where useable roads are not available
year-round. This last leg of the travel is commonly known as the last mile and
it accounts for up to 50 percent of the total cost of delivering medicines in
rural areas of countries like China and India. Vayu with a 9-foot wingspan, can
take off and land vertically, and cruise up to three times farther than its
competitors with equivalent payloads. It’s target market is healthcare
distribution and humanitarian purposes, and also same-day delivery.
To find out
more, click on http://www.vayu.us/
Great Lakes
Angels represents angel investors in Michigan, Ohio and Western Ontario.
Attendance is open to those who would intent to make a minimum of a $25,000
investment in one or more companies presented by the GLA in each calendar year.
To join, a person must be an Accredited Investor or approved as a designated
screener for an Accredited Investor. For more information, email Chairman and
Founder David Weaver at [email protected]
