New DEED data shows millions more flowing to MN tech startups


mn_deed_logoNew data released on Minnesota’s Angel Investor Tax Credit (AITC) by DEED administrators shows a significant increase in the Q1 fundraising activity for Minnesota’s tech ventures.

We Originally counted 16 unique startups that had cumulatively raised ~$40m during the period. 

When factoring this new information, those figures increased to 40 firms (+24 AITC) and ~$50m (+$9.2m AITC) for Q1 2014, +66% / +79%  from the same time period YoY:


Agricultural Solutions: 690k

Argos Risk: $200k

Canopy: 21,000

Exosite: 1,100,000

Famdoo: 750,000

Fision Holdings: 400,000

Fitness Formulary 33,000

Flywheel Exchange: 300,000

Foodsby: 25,000

ForMyChildren: 125,000

FourCubed: 50,000

Imbio: 1,300,000

IndusTrack: 125,000

Instant Wireless Interpretation: 40,000

Invenshure: 240,000

Nimbelink: 100,000

LocaLoop: 30,000

One Way Hub (stealth): 300,000

Packet Power: 50,000

Patient Readiness Institute: 135,000

riteSOFT: 625,000

RowBot Systems: 475,000

Seeonic: 1,057,000

Video For Athletes(?): 663,000

Vital Simulations: 30,000

Zivix: 300,000


Minnesota’s Angel Tax Credit is back

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

Record highs for Minnesota tech investment in 2013