Bloomington-based ReconRobotics has indicated intentions of fundraising $3m ($252k closed) in convertible debt with the help of BrokerBank Securities.
Initially formed through IP from the University of Minnesota, ReconRobotics designs, manufactures, deploys and supports miniature robotic systems and distributed robotic teams. These robots are specifically designed to provide real time information in hazardous or restricted space areas, for military, police and commercial markets.
The company has been on a roll since securing a $13.9m US Army contract last February, establishing an international presence in Switzerland as the demand continues to grow for their tactical micro robots.
Fast Company considers ReconRobotics to be one of the worlds 50 most innovative companies and there’s a tangential connection to be found in recent patent 8,342,440 for a ground to air robotic system.