AI startup closes on M funding round, will keep base in Detroit

December 11, 2016 12:01 a.m. Updated Lyden Foust, Spatial Labs Inc. Spatial Labs Inc., one of 12 startups that was part of the Techstars Mobility accelerator program last summer in Detroit, has closed on a funding round of $2 million. The round was led by Serra Ventures of Champaign, Ill., and joined by Connectic Ventures of Covington, Ky.; the M25 Group of Chicago; Fulcrum Equity Partners of Atlanta; and Caerus Investment Partners of Chicago. Spatial announced a development deal with Ford Motor Co. at the Techstars Demo Day in September. As part of its participation in the program, Spatial got $20,000 in equity funding from Techstars and $100,000 from Detroit-based Fontinalis Partners LLC. “I’m feeling pretty thankful right now,” Spatial co-founder and CEO Lyden Foust told Crain’s. The artificial intelligence…


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