Pointe Angels in Grosse Pointe, which meets monthly for presentations from promising startups at the Country Club of Detroit, is actively supporting M3D, a medical device startup from Ann Arbor.
M3D’s “secret sauce” is a patented radiation sensor from the University of Michigan that is currently used in homeland security applications. CEO Michael Hopkins laid out M3D’s plan for applying the technology to the health care sector.
“One of the biggest risks for any early-stage company is technology,” says Hopkins. “M3D took that risk off the table. Our radiation sensor technology has been in the market for 10 years with customers like the Department of Defense and the FBI.”
Pointe Angels investor Jim Agley concurs. He saw the potential in M3D’s approach and an opportunity to leverage his capital, experience, and network.
“M3D has done a nice job of mitigating risk by using established nuclear technology in new ways to improve medical care. Their cameras will make hospitals safer and cancer surgeries more successful. It’s exciting to be a part of something that could earn a nice financial return while also improving people’s lives,” Agley explains.
Agley and other Pointe Angels investors closed out M3D’s seed round in February 2024 and helped the company secure a key manufacturing partnership. “Since his investment, Jim has been a great resource for me,” Hopkins says, “both in terms of the companies he’s run and the companies he’s invested in.”
In addition to Pointe Angels, M3D also received investments from IDVentures, Michigan RISE, the Biomedical Research Commercialization Center (BRCC), Spark, Accelerate Blue, the Michigan Biomedical Venture Fund, and Northern Michigan Angels.
“One of the nice things about Michigan is that the economic and investment environment is very close-knit.” says Hopkins, “All the early-stage investors know each other, making it easy to have introductions and follow-on investments.”
Fast-forward to July 2024: M3D previewed its radiation safety camera, the RAVIN Cam, at the Health Physics Society’s annual meeting. The audience was enthusiastic, and M3D exceeded its pre-order forecast within a few weeks of the conference.
“Within two months, M3D’s RAVIN camera will be in customers’ hands,” says Hopkins. “We’re also planning studies for an inter-operative camera at the University of Michigan and MD Anderson.” For more information, visit m3dimaging.com/.
Agley and the Pointe Angels team will be supporting the M3D team along the way.
“Participating in Pointe Angels’ investment club has been really fun,” Agley says. “I’m continually amazed by the quality of the investment opportunities I find there, and I’m excited about the break-out potential of those I’ve invested in.”
Pointe Angels welcomes all accredited investors, with individual investments ranging from $10,000 to $500,000. The group, which has a strong emphasis on helping to create a diverse portfolio of multiple assets, meets at the Country Club of Detroit on the third Wednesday of each month.
For more information about Pointe Angels, visit pointeangels.com/.
