Ventech, Critical Signal Tech nail down $350K in funding

Automation Alley is sinking $350,000 into two local tech businesses, with plans to make a few more investments before the year is out.

"It's definitely a certainty," says Michelle Zellen, spokeswoman for Automation Alley. "We have companies in the pipeline."

The two feeding at the venture capital trough are Ventech and Critical Signal Technologies. The former will receive $250,000 in seed money while the latter takes in $100,000. This latest round of financing brings Automation Alley's total investment in Critical Signal Technologies to $450,000.

Ventech develops, manufactures, and distributes a rapid heater technology called Liquid Heat Generator, which is used to heat the interiors of school buses, cars and military vehicles. The $250,000 allows the Wixom-based company to pump up its production capacity and inventory.

Farmington Hills-based Critical Signal Technologies provides 24-hour personal emergency response monitoring services for elderly or disabled individuals, allowing those suffering from medical conditions to continue living at home.

The Michigan Economic Development Corporation recently awarded Automation Alley $1.5 million to invest in start-up technology based companies across Southeast Michigan. This funding is used to encourage the commercialization of technologies and support their growth through investments of up to $250,000 per company.

Source: Michelle Zellen, spokeswoman for Automation Alley
Writer: Jon Zemke

Ventech, Critical Signal Tech nail down $350K in funding

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