# Shoulder Innovations funding: rounds and investors > Shoulder Innovations has raised $49M across 3 rounds since 2018. Investors include Michigan Angel Fund, Genesis Innovation Group and Alumni Ventures. Source: https://millionrounds.com/company/shoulder-innovations (Millionrounds; every figure on the page links to its filing or article) United States · [Funded startup](https://millionrounds.com/companies) # Who invested in *Shoulder Innovations* 3 rounds we have observed, with the 12 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. Biotech Healthcare Medical Devices Raised 5 months ago Funding summary Updated 26 Oct 2026 **$49M** raised across 3 rounds since 2018, from 3 sources **$1.5M** Series A **$2.5M** Series A **$45M** Debt - **Latest round:** Debt, $45M Jun 2026 - **Step-up i:** 18× - **Investors:** 12 (1 led) See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2018 2020 2022 2024 2026 **$1.5M** Series A **$2.5M** Series A **$45M** Debt - **First round:** Series A, $1.5M - **Biggest round:** $45M - **Usual gap between rounds:** 7.6 years ## The rounds - **Jun 2026** Debt **$45M** *4 new* [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) [Global Brain Corporation](https://millionrounds.com/fund/global-brain-corporation) [Fidelity](https://millionrounds.com/fund/fidelity) [Trinity Capital](https://millionrounds.com/fund/trinity-capital) Source recorded - **Oct 2018** Series A **$2.5M** *2 new* *2 returning* [Michigan Angel Fund](https://millionrounds.com/fund/michigan-angel-fund) [Wakestream Ventures](https://millionrounds.com/fund/wakestream-ventures) [Genesis Innovation Group](https://millionrounds.com/fund/genesis-innovation-group) [cultivate(MD)](https://millionrounds.com/fund/cultivate-md) Reported by FinSMEs SEC filing: $5.1M sold, first sale Feb 2017 - **May 2018** Series A **$1.5M** *6 new* [Michigan Angel Fund](https://millionrounds.com/fund/michigan-angel-fund) Lead [Start Garden](https://millionrounds.com/fund/start-garden) [Genesis Innovation Group](https://millionrounds.com/fund/genesis-innovation-group) [Invest Michigan](https://millionrounds.com/fund/invest-michigan) [Novus Bioventures](https://millionrounds.com/fund/novus-bioventures) [Western Michigan University's Biosciences Research Commercialization Center](https://millionrounds.com/fund/western-michigan-university-s-biosciences-research-commercia) Reported by Firms' own news pages ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Series A** 2018 **Series A** 2018 **Debt** 2026 [Michigan Angel Fund](https://millionrounds.com/fund/michigan-angel-fund) L [Genesis Innovation Group](https://millionrounds.com/fund/genesis-innovation-group) [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) [Global Brain Corporation](https://millionrounds.com/fund/global-brain-corporation) [Fidelity](https://millionrounds.com/fund/fidelity) [Trinity Capital](https://millionrounds.com/fund/trinity-capital) [Start Garden](https://millionrounds.com/fund/start-garden) [Wakestream Ventures](https://millionrounds.com/fund/wakestream-ventures) [Invest Michigan](https://millionrounds.com/fund/invest-michigan) [cultivate(MD)](https://millionrounds.com/fund/cultivate-md) ## Everyone who backed them [Michigan Angel Fund](https://millionrounds.com/fund/michigan-angel-fund) Angel network **2** rounds, led 1 [Genesis Innovation Group](https://millionrounds.com/fund/genesis-innovation-group) VC firm **2** rounds [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) VC firm **1** round [Global Brain Corporation](https://millionrounds.com/fund/global-brain-corporation) VC firm **1** round [Fidelity](https://millionrounds.com/fund/fidelity) VC firm **1** round [Trinity Capital](https://millionrounds.com/fund/trinity-capital) VC firm **1** round [Start Garden](https://millionrounds.com/fund/start-garden) VC firm **1** round [Wakestream Ventures](https://millionrounds.com/fund/wakestream-ventures) VC firm **1** round [Invest Michigan](https://millionrounds.com/fund/invest-michigan) VC firm **1** round [cultivate(MD)](https://millionrounds.com/fund/cultivate-md) Private equity **1** round [Novus Bioventures](https://millionrounds.com/fund/novus-bioventures) VC firm **1** round [Western Michigan University's Biosciences Research Commercialization Center](https://millionrounds.com/fund/western-michigan-university-s-biosciences-research-commercia) VC firm **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=shoulder-innovations). ## Also claim to have backed them These 3 firms list Shoulder Innovations as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above. [Lightstone Ventures](https://millionrounds.com/fund/lightstone-ventures) VC firm Per its own site [Bluestem Capital](https://millionrounds.com/fund/bluestem-capital-company-llc) Private equity Per its own site [Microtech Ventures](https://millionrounds.com/fund/microtech-ventures) Advisor Per its own site ## Quick answers about Shoulder Innovations ### Who invested in Shoulder Innovations? Shoulder Innovations's investors include Michigan Angel Fund, Genesis Innovation Group, Alumni Ventures, Global Brain Corporation and Fidelity, and 7 more on record. ### How much has Shoulder Innovations raised? Shoulder Innovations has raised $49M across 3 rounds since 2018. ### When did Shoulder Innovations last raise? Shoulder Innovations's most recent round was a Debt of $45M in Jun 2026. ### What was Shoulder Innovations's biggest round? Its most recent round, $45M in Jun 2026, is also its largest on record. ### Who backed Shoulder Innovations first? Shoulder Innovations's first round on record, in May 2018, was backed by Michigan Angel Fund, Start Garden and Genesis Innovation Group and 3 others. ### What stage is Shoulder Innovations at? Shoulder Innovations's latest named round is a Debt, in Jun 2026. ### Where is Shoulder Innovations based? Shoulder Innovations is based in the United States. ### Who led Shoulder Innovations's rounds? Michigan Angel Fund led the Series A in 2018. ## Companies like Shoulder Innovations In the same sector, and raised in the last eighteen months. 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