iiM angel group invests $2.3M in 9 early-stage companies

Overland Park, KS-based iiM, LLC, has recently completed funding for nine early stage companies in the animal health, ag-tech and human health verticals with commitments to two additional companies, for a total investment of $2,372,000. iiM (Innovation in Motion), was launched in 2013 as an angel investment platform by principals of Cohen-Esrey, LLC. During the…

investment

Overland Park, KS-based iiM, LLC, has recently completed funding for nine early stage companies in the animal health, ag-tech and human health verticals with commitments to two additional companies, for a total investment of $2,372,000.

iiM (Innovation in Motion), was launched in 2013 as an angel investment platform by principals of Cohen-Esrey, LLC. During the early years the firm looked at a lot of possible opportunities but settled on its current strategy in 2016.

Lydia Kinkade, managing director, is a founder of iiM and says the firm has taken a unique approach to early stage investing in several respects.

“The investor members include physicians, animal health experts and agriculture practitioners along with several entrepreneurs in other industries,” said Kinkade. “This level of domain expertise is not often found at this stage of investing. We are very disciplined about only investing in the three designated verticals. Our dedicated team of professionals is responsible for identifying prospective investments and performing extensive due diligence.”

iiM typically invests $150,000 to $300,000 in a company with its largest investment being $530,000. It has already provided followed-on capital in subsequent funding rounds for two of its portfolio companies. Kinkade expects the investment amounts to increase as the result of a growing syndicate concept.

Syndicate members are able to participate in prospective company presentations, review due diligence materials and make investments side-by-side with investor members.

“By expanding our syndicate membership we’re able to allow more individuals to benefit from our due diligence and selection processes, and increase the size of our investment at the same time,” Kinkade said.

Kinkade expects iiM to make eight to ten investments in 2019 with the ultimate goal to achieve a minimum portfolio of 30 companies.

“Through growth in our syndicate, we expect to reach the point where we are making investments of at least $500,000, and we want to grow well beyond the 30 company portfolio target in the years to come,” she said

The nine most recent investments include:

AgriSync – Waukee, IA
AgriSync enables farmers to connect with their advisors live using video and other in-app workflow features in order to solve real-time problems as they occur.

Green Dot Bioplastics – Emporia, KS
Green Dot Bioplastics makes bioplastic and bio-composite pellets.

innate.ly – Colorado Springs, CO
innate.ly offers cloud and smart device ready software-as-a-service platforms which improve the business practices and processes in animal health and protein production.

Mazen Animal Health – St. Joseph, MO
Mazen Animal Health is creating oral vaccines in an efficient and low-cost system for production and companion animals that eliminates need for refrigeration and enables multiple animal dosing.

MNI (Medical Nutrition Innovation) – Philadelphia, PA
MNI has developed a medical food sold as a powder that is calorie-dense, taste-neutral and contains essential micronutrients for patients suffering from malnutrition.

Mobility Designed – Kansas City, MO
Mobility Designed is a durable medical equipment designer, manufacturer and online retailer of ambulatory aids.  Nomi – Overland Park, KS – has developed SMRxT to solve non-adherence to prescription medication – one of the largest healthcare problems. This involves a highly sophisticated sensor system that resides in a medication bottle.

P&P Optica – Waterloo, Ontario
P&P combines in-line smart imaging technology with data analysis in a novel way to help ensure the food we eat is safer, higher quality and produced with less waste.

PhotoniCare – Champaign, IL
PhotoniCare hand-held ClearView imaging tool uses an advanced light-based technology to see through the eardrum, enabling physicians to make a more accurate diagnosis of middle ear infections.

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