Over 37 Minnesota tech ventures raised investment capital in Q2 2012

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At least 37 early-stage Minnesota tech companies raised a cumulative $28m in financing during the months of April, May and June according to information collected and analyzed for the second quarter 2012 Capital Review.

The data set represents a proxy of local investment activity into IT/High Tech: Saas, web/mobile, hardware and robotics systems.  It is imperfect, considering that there will always be undisclosed transactions and those which are off the record.

The quarterly figure is susceptible to volatility, considering the effect that just one company can have on the bottom line (see Code 42’s anomalous $52.5m Q1 raise), but appears to be relatively consistent looking back over the preceding five  quarters.   That said, investment in this area is comparatively down 20% year over year, but the total number of individual firms that raised is the highest on record at 38.

A total of 25 ventures raised funds trough the Minnesota Angel Investment Tax Credit program which expired just as the second quarter closed. (Which will have an adverse effect on the forthcoming Q3 2012 statistics)

Below is a list of the Minnesota tech companies that are on record as receiving outside investment capital during the second quarter of 2012.  If anything was missed or appears to be erroneous, please leave a comment.

KC Associates

 

Date Company Amount Note(s)
4/6/12 Thrill On $2m
4/24/12 Vizsy $600k
5/2/12 Wahooly $750k
5/11/12 Drive Power $815k
5/11/12 FieldSolutions $2.275m
5/16/12 AsystMe $205k
5/17/12 Heroic $600k
5/19/12 Healthsense $13.7m
5/22/12 Horse Sense Shoes $150k
5/28/12 Three Deep Marketing (Crossfuse) $750k
6/18/12 3D Sports Technology $110k
6/23/12 Evolve $50k
6/27/12 Cymbet $600k
*UNK Q2 AITC* *AITC* *AITC* *AITC*
Anser Innovation $325k
Accelerated Innovations $1m
Argos Risk $125k
Conservis $300k
Empathic $795k
Energy Resource Insights aka QuadROI $70k
Exosite $329k
For My Children (stealth) $55k
HSIO Technologies $300k
Instant Wireless Interpretation $75k
Jericho Ventures $110k
Localoop $280k
Midart Communications $20k
OneWayHub $100k
Packet Power $125k
PrestigeWare * $30k
RTT (stealth) $1.02m
riteSOFT $50k
RowBot Systems (stealth) $250k
Seeonic $250k
Smart Signal Technologies $60k
Talking Fish $150k
Third Iron (stealth) $50k
VaporWire $50k
VitalSims $100k

Comments

  • http://twitter.com/kaufenberg Justin Kaufenberg

    Great to see the volume of companies rising. Judging by the amounts, there was likely a large number of smaller angels participating. Seems like a positive indicator.

  • http://www.marketingshow.com Clay Collins

    You guys are on fine with the content recently. Thank you. In the future, a column listing VCs/angels involved would be great. If that data is available.

    Thanks again for providing this info.

  • http://twitter.com/casey__allen Casey Allen

    By the way, if your startup is on this list and the number is incorrect, be a rockstar and let Jeff know.

    I know the data available is quite tough to mine, and as a founder you can help these reports be as accurate as possible.

    Jeff + team do a superb job. If you’re a founder help him do it better.

  • http://twitter.com/LifeSciAlley LifeScience Alley

    awesome!

  • http://twitter.com/LifeSciAlley LifeScience Alley

    for those wondering, the Q1 2012 numbers from tech.mn can be found here: http://tech.mn/news/2012/04/30/q1-2012-minnesota-tech-capital-review/

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