Q1 2015 Quarterly Capital: 28 MN Tech Ventures Saw $49M Combined

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Screen Shot 2015-04-21 at 9.26.08 AMAt least 28 different Minnesota tech ventures received ~$49m of investment capital during the first quarter of the year according to information collected and analyzed from January 1 through March 31, 2015.

This dataset represents the most comprehensive ongoing tally of Minnesota’s tech sector funding quarter to quarter, year over year.

It’s compiled from multiple sources as proxy of market activity, including: crowdfunding, incubators, angel investing, venture capital, corporate arm and private equity.

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Updated: Gravie Raises $12.5m Series B Led By Split Rock, Expanding to Chicago and Texas

Updated 4/20 @2:00pm CT

Minneapolis startup Gravie is raising more cash for their consumer health insurance marketplace.  A tweet sent late Friday afternoon was first indication of the $12.5m  round, which was lead by new backer Split Rock Partners and included current investors Aberdare Ventures + FirstMark Capital.

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Twin Cities Angels Is Raising A Third Fund

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Twin Cities AngelsTwin Cities Angels (TCA) is raising a third fund — aptly named Twin Cities Angels 3 — and seeking local accredited investors to join the fold.

TCA’s inagural fund launched in 2006 and backed 12 companies with “north of 5 million” in capital, says Founder & Chairman John Alexander. The second fund, which is currently wrapping up, also has invested in 12 ventures (around $5m) and could increase before exhausting TCA 2 in the coming months.

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This Minnesota Made Healthtech Venture Starts With Love

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Alska“I never envisioned that I’d be developing and launching a software product,” entrepreneur Michelle Chaffee admits about the genesis of her new startup CareQuo.

The company’s first software product, Alska, emerged rather organically from her firsthand experience in patient care advocacy — beginning with her own mother.

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Minneapolis Startup Kidizen Raises $350k

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Minneapolis startup Kidizen has raised $350k of a $450k round according a recent SEC disclosure.

Kidizen’s origin dates back to 2010 when Dori Graff and Mary Fallon co-founded Itizen as a means of swapping and tracking tangible goods via physical attachements. In 2013, Dug Nichols came on as CEO and Kidizen dropped the QR codes for a major pivot into a mobile-first p2p marketplace for used kids clothing and accessories.

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Cottage Grove Tech Startup Books $500k for Hospitality SaaS

TRACKEmerging Cottage Grove SaaS startup Track Hospitality Software (TRACK) has raised $500k in an early equity round according to Principal Matt Renner.

TRACK’s cloud-based hospitality software empowers management companies (lodges, vacation rentals and resorts) to take bookings, accept payments, track marketing, track calls, and optimize revenue from anywhere, on any device.

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