HOLLAND — Venture capital fund Cultivate(MD) Capital Fund II LP invested in SpinTech Inc., a Detroit-based startup that developed a suite of software for brain scan MRIs.
The company’s software collects data differently using a software processing technique that increases speed and accuracy while improving the overall workload.
Terms of the deal were undisclosed.
“We are very excited about SpinTech’s vision to build a comprehensive software platform for the diagnosis and treatment of brain trauma and neurological degenerative diseases,” stated Matt Ahearn, vice president of finance and operations for Genesis Innovation Group LLC, a developer of health care technologies and creator of the Holland-based Cultivate(MD) venture capital fund.
“They have decades of technical and thought leadership in the field of MRI, a global network of clinical partners and a product vision to help people suffering from neurological disease,” Ahearn stated.
Cultive(MD) most recently invested in Medical Ingenuities LLC, a Wheaton, Ill.-based early-stage medical device company developing a device that reduces complications in the radial artery following a cardiac catheterization.