Updated: Minnesota tech startups raised ~$50m in Q1 2014

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pile-of-moneyAt least 16 40 Minnesota tech ventures raised $40m+ $50m investment capital in the first quarter of 2014, according to information collected and analyzed from January 1 through March 31, 2014.

The data includes on the record activity compiled from multiple sources. This proxy of current local funding activity and trends is a worse case scenario as there are always undisclosed transactions not factored.    It goes well beyond what you would read in the legacy media [2] — which tends to ignore a lot of startup funding (why?).

Relative to the same period last year, 24 different companies received $28m.  The largest deal of Q1 is Sport Ngin @$15m; median Q1 deal is ~$650k and the smallest deal was Leav’s $22k crowdfunding.

It’s worth noting that DEED has yet to release any specifics about the companies, people and money involved in the Minnesota Angel Tax Credit, which ran out in early March.   In addition to legally required disclosure, this data will augment the next quarterly ‘Capital Review’ and will certainly skew the numbers when released. Updated 5/2: New DEED data shows millions more flowing to MN tech startups

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1/8/14 – thisCLICKS – $4m

1/16/14 – RTT – $300k

1/20/14 – Ambient Clinical Analytics – $1.2m

1/23/14 – Optimine – $4.15m

1/27/14 – TrackIF – $1.19m

1/28/14 – Anser Innovation – $1.5m

1/30/14 – Galt.IO – $590k

2/5/14 – Exogal – $160k

3/5/14 – Agricultural Solutions – $45k

3/6/14 – LogicStream – $150k

3/7/14 – Sport Ngin – $15m

3/9/14 – Leav – $22k

3/14/14 – ArgosRisk – $700k

3/17/14 – Gravie – $10.5m

3/18/14 – Horse Sense Shoes – $505k

Q1UNK/AITC – Agricultural Solutions: 690k

Q1UNK/AITC – Argos Risk: $200k

Q1UNK/AITC – Canopy: 21,000

Q1UNK/AITC – Exosite: 1,100,000

Q1UNK/AITC – Famdoo: 750,000

Q1UNK/AITC – Fision Holdings: 400,000

Q1UNK/AITC – Fitness Formulary 33,000

Q1UNK/AITC – Flywheel Exchange: 300,000

Q1UNK/AITC – Foodsby: 25,000

Q1UNK/AITC – ForMyChildren: 125,000

Q1UNK/AITC – FourCubed: 50,000

Q1UNK/AITC – Imbio: 1,300,000

Q1UNK/AITC – IndusTrack: 125,000

Q1UNK/AITC – Instant Wireless Interpretation: 40,000

Q1UNK/AITC – Invenshure: 240,000

Q1UNK/AITC – Nimbelink: 100,000

Q1UNK/AITC – LocaLoop: 30,000

Q1UNK/AITC – One Way Hub (stealth): 300,000

Q1UNK/AITC – Packet Power: 50,000

Q1UNK/AITC – Patient Readiness Institute: 135,000

Q1UNK/AITC – riteSOFT: 625,000

Q1UNK/AITC – RowBot Systems: 475,000

Q1UNK/AITC – Seeonic: 1,057,000

Q1UNK/AITC – Video For Athletes(?): 663,000

Q1UNK/AITC – Vital Simulations: 30,000

Q1UNK/AITC – Zivix: 300,000

Q1UNK* – MobileRealtyApps –  650k

*The MoneyTree™ Report from PricewaterhouseCoopers and the National Venture Capital Association based on data from Thomson Reuters.

RELATED:
Record highs for Minnesota tech investment in 2013
Q1 2013 Capital Review: Minnesota tech ventures raised $28m+
Minnesota’s tech ventures raised over $145 million last year

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