Henry Ford + MSU Innovation Fund Announces First Investments

Henry Ford Health + Michigan State University Health Sciences has announced the first investments from the Henry Ford + MSU Innovation Fund, providing funding and strategic support to LightHearted AI and M3D, two early-stage companies developing technologies that improve diagnosis, treatment, and patient care.

LightHearted AI is developing LightScope, a non-invasive technology that uses visible light to capture high-quality heart sound data and detect heart valve disease in less than 10 seconds. Co-founded by Lucrezia Cester, Ph.D., and Dilip Rajeswari, the company’s technology has demonstrated promise for improving early diagnosis, addressing an important gap in current screening methods. The investment will support the company's continued clinical validation and commercialization efforts as it prepares for regulatory approvals.

“Working with Henry Ford Health helps us validate how LightScope can be deployed across multiple care settings through a single health-system partnership,” said Cester. "The Innovation Fund's investment is an important milestone as we prepare for broader deployment across U.S. health systems.”

M3D is developing advanced radiation imaging technologies that enable clinicians to identify, localize, and visualize sources of radiation in real time. The company's platform is designed to improve radiation safety, treatment accuracy, and workflow across a range of healthcare applications. The investment will support continued product development, clinical validation, and commercialization.

“Henry Ford Health brings the clinical perspective that's essential for translating innovative technologies into everyday practice,” said Mike Hopkins, co-founder and CEO of M3D. “Together with the Innovation Fund, the partnership provides more than capital by connecting us with the expertise needed to accelerate commercialization.”

Launched in 2025, the healthcare-focused venture fund was established through an initial $10 million commitment from its founding members, Henry Ford Health, Michigan State University and the MSU Research Foundation. The fund supports early-stage companies developing technologies that improve patient care, accelerate access to innovation, and deliver measurable impact. These investments further complement the clinical expertise, research environments, and commercialization resources available through the Henry Ford + MSU partnership.

“These first investments reflect exactly why the Henry Ford + MSU Innovation Fund was created,” said Jeff Wesley, executive director of ventures at the MSU Research Foundation, where he manages the Innovation Fund. “Our goal is to help founders move promising healthcare technologies farther and faster by giving them the investment and support they need at each stage of company growth.”

The Henry Ford + MSU Innovation Fund focuses on early-stage companies working in areas such as precision medicine, digital health, artificial intelligence, medical devices, and remote monitoring. Initial investments typically support companies from the pre-seed through Series A stages.

"When we evaluate opportunities for the fund, we're looking for technologies that have the potential to solve meaningful clinical problems," said Lisa Prasad, vice president and chief innovation officer for Henry Ford Health, who also serves on the Innovation Fund board. "LightHearted AI and M3D are strong examples of companies developing practical solutions that could improve how care is delivered, and we're excited to work alongside their teams as they continue validating and advancing these technologies."

The investments in LightHearted AI and M3D mark an important milestone for the Innovation Fund and its work to support early-stage healthcare companies developing technologies with the potential to improve patient care. Early-stage companies interested in advancing health care innovation can learn more about funding opportunities, focus areas and how to connect with the Henry Ford + MSU Innovation Fund at henryfordmsu.org/innovation.