Over 37 Minnesota tech ventures raised investment capital in Q2 2012
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.
| 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 |