Minneapolis startup Cympel, which was accepted into Straight Shot accelerator last month, has received $125k in additional funding via Dundee Venture Capital in Omaha, Nebraska.
Dundee is known to have an interest in startups from Minnesota which operate in the SaaS & e-commerce realm;
Cympel is believed to be the firms first investment here, although Straight Shot is backed by Dundee.
“We are on the cusp of a game changer for the e-commerce industry, and Dundee Venture Capital is the right partner to help us,” says Cympel founder Jesse Hultgren, who indicates more funding is possible, contingent upon certain milestones.
Dundee VC founder Mark Hasebroock was an entrepreneur with GiftCertificates.com and Hayneedle before becoming an investor. “We look for startups that bring a balance of big ideas and get-it-done gumption. That said the investment in Cympel was, to be frank, simple.”
“Dundee is well-known for joining founder’s with a clear vision early and making investments of $50k to $500k,” he added.