Marquette, Mich., July 24, 2024 – The Michigan Outdoor Innovation Fund is excited to announce its first round of investments to three promising Michigan-based companies: Grounded RVs, Mullybox, and Revolin Sports. These companies were chosen for their innovative approaches to enhancing outdoor experiences and for their potential to drive significant economic growth within the state of Michigan.
Each of the three companies received funding to create new jobs, scale their operations, develop new products, and expand their market presence. By supporting these startups, the Fund reaffirms its commitment to nurturing a robust, innovative outdoor industry ecosystem in Michigan. “We are thrilled to support Grounded, Mullybox and Revolin, as they represent the ingenuity and entrepreneurial spirit that Michigan is known for,” said Jim Tenzillo, Fund’s Co-Managing Director. “These companies are uniquely impacting the outdoor sector and contributing to the state’s economic development and job creation.”
Launched in early 2023, the Michigan Outdoor Innovation Fund aims to bolster Michigan’s outdoor industry by investing in early-stage startups that demonstrate strong potential for innovation and sustainability. Investments range from $50,000 to $250,000 in Michigan-based companies commercializing cutting-edge technologies that enhance the enjoyment, sustainability or accessibility to the outdoor recreation industry. As the first seed-stage venture fund in the Upper Peninsula and rural Michigan, it is managed by InvestUP, a private sector-led economic development organization focused on driving economic prosperity across the Upper Peninsula.
“It is very exciting to see the fund’s growth from concept through launch and now with the first round of investments,” said Marty Fittante, CEO of InvestUP. “We are incredibly appreciative of the opportunity to manage the fund and to be part of the entrepreneurial development in this impactful sector for both our region and the state of Michigan overall.”
The Michigan Outdoor Innovation Fund aligns with the state of Michigan’s focus on the outdoor recreation sector and the Michigan Economic Development Corporation’s (MEDC) strategies to grow and support the state’s entrepreneurial ecosystem. The fund was launched through the MEDC’s Michigan Innovate Capital Fund (MICF) program, which supports high growth, early-stage technology companies in Michigan, by providing investment capital, resources, and support to foster innovation and entrepreneurship. “Grounded RVs, Mullybox, and Revolin Sports are three companies showing what it truly means to innovate in outdoor recreation and ‘Make It’ in Michigan,” said Nataliya Stasiw, equity capital program director for the MEDC. “These companies will provide our people with more enriching outdoor experiences and have a positive impact on the places people want to live, work, and visit, and we’re proud to join our local partners in supporting them. We look forward to continuing to work together to position Michigan as the leader in the outdoor industry ecosystem.”
The outdoor recreation economy continues to flourish nationwide, with annual growth of 11.8 percent in 2022. In Michigan, outdoor recreation brought $12.4 billion in value-added economic impact and employs nearly 120,000 people. Michigan’s Office of Outdoor Recreation, also part of the MEDC is working to bolster the state’s focus on retaining and attracting outdoor recreation businesses and products. The office’s director, Brad Garmon, was appointed to chair the national outdoor industry Confluence of States coalition for 2023. Innovate Marquette, a regional SmartZone in the Upper Peninsula that is also focused on outdoor recreation, helped enable and secure the Fund through a $700,000 Rural Innovation Stronger Economy (RISE) grant from the U.S. Department of Agriculture. The MICF and the state’s SmartZone initiative are programs managed by MEDC’s Entrepreneurship & Innovation Office.
For more information about the Michigan Outdoor Innovation Fund and its investment initiatives, visit https://www.michiganoutdoorfund.com/
Grounded: Smart, Modular, Electric Camper Vans and Work Vans
Grounded designs and manufactures electric, smart, customizable vans for adventure and work expeditions. Their flagship product, the G2, is a customizable camper van with 270 miles of electric range, all-wheel drive, Starlink internet, 1000 Watts of solar power and the Grounded+ smart mobile app which allows users to control appliances, view data, and receive diagnostics remotely. The customizability is powered by a modular manufacturing system that allows selection from a library of components. Grounded also provides electric work vans for various industries, including mobile medicine, remote work, food transport and landscaping. The company is based in Detroit and now has 10 employees. “After having never been to Michigan until starting Grounded less than 2 years ago, I am thrilled to now call Michigan both Grounded’s home and my home. Detroit is a great place to live and build a hardware company because of its budding startup ecosystem and robust manufacturing ecosystem.” – Sam Shapiro, Founder & CEO
Mullybox: Enhancing the Golf Experience
Mullybox is transforming the way golfers experience the sport with their unique subscription service that delivers curated golf gear and accessories to enthusiasts nationwide. “We are thrilled to announce this significant investment from the Michigan Outdoor Innovation Fund,” said Drew Amato, CEO of Mully Group, Inc. “This funding will allow us to accelerate our growth and innovation in the outdoor and golf industry, bringing new, tech-enabled products to our passionate community of golfers. With this support, we are excited to expand our operations in Michigan, creating new jobs and contributing to the state’s dynamic economy. We are committed to delivering exceptional value to our customers and partners, and this investment will help us achieve that mission.”
Revolin: Sustainable Paddle Sports Equipment
Revolin Sports is thrilled to partner with the Michigan Outdoor Innovation Fund (MOIF) as an investor. With funding from the MOIF and other key investor partners, Revolin Sports will continue to supply the rapidly growing pickleball players base with high-quality, Michigan-made pickleball equipment that improves performance and reduces environmental impact. Revolin Sports is also launching a new effort in 2025 to bring their patent-pending, advanced biomaterials like BioFLXTM and LavaFLXTM to other sports markets and to the marine and auto industries through Revolin TechnologiesTM. “MOIF will be a critical partner during this next phase of growth with support from outdoor rec industry experts, R&D and manufacturing connections, and a network of other startups and businesses on a similar path. It’s great to see Michigan’s continued support of outdoor recreation and Michigan based manufacturing through the MEDC and the MOIF” – Hugh Davis, CEO + Co-founder
About the Michigan Outdoor Innovation Fund
The Michigan Outdoor Innovation Fund, the first seed-stage venture fund in the Upper Peninsula and rural Michigan, is managed and administered by InvestUP, which is a private sector-led economic development organization focused on driving economic prosperity across Michigan’s Upper Peninsula. Founded by the region’s leading private sector businesses and three regional universities, its mission is centered on the people, projects, policies and promotion necessary to drive prosperity across the Peninsula.
About InvestUP
InvestUP is the regional economic development organization for the Upper Peninsula. Led by the private-sector, InvestUP’s mission to drive prosperity across U.P. through a focus on people, place, projects, policy, and promotion by working in partnership and with passion and persistence.
About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook, Instagram, LinkedIn, and Twitter.