ReconRobotics Inc., a company that was formed to commercialize patented technology developed in the University of Minnesota Distributed Robotics Laboratory, received its initial funding via William C. Norris Institute, (part of the University of St. Thomas Opus College of Business), in December 2006 and later and again June 2007 (both of unknown amounts). On April 17, 2009, the Minneapolis-St.Paul Business Journal reported (unsourced) that the company had raised “upward of $3mm in capital, mostly from angel investors.” Later that year, sometime in Q4 2009, the company received an additional $75k from local Angel investment network Rain Source Capital.
And now- according to a SEC filing on 3/30/10, the company continues its fund raising initiatives, recently securing another $1.5mm.
Edina-based Recon Robotics designs, manufactures, deploys and supports miniature robotic systems. The company’s flagship product, Recon Scout, is “a rugged, stealth, mobile, and immediate tactical reconnaissance robot designed to help save lives.”