Quarterly Funding Review: 33 Minnesota Tech Ventures Captured ~$46m in Q1 2016


Redpath3At least 33 different Minnesota tech ventures received ~$46m of investment capital during the first quarter of the year according to information collected and analyzed from January 1 through March 31, 2016.

This dataset represents the most comprehensive ongoing tally of Minnesota’s tech sector funding quarter to quarter, year after year, for five years running.

It’s compiled from multiple sources as proxy of market activity, including: crowdfunding, incubators, angel investing, venture capital, corporate arm and private equity. Consider it a worse case scenario as there are always undisclosed transactions not fully factored, so the actual figures are higher, although unknown.

We give thanks to Redpath & Company for underwriting this report that provides transparency into the marketplace.  So, what happened in Q1 2016, coming off a big year for Minnesota tech?

+Three largest rounds of the quarter include Zipnosis ($17m), Four51 ($5m), and The Big Know ($3m).

+Jeff Hinck from Rally VC shows interest in crowdfunding platform Crowdstreet.

+Minnesota Cup competition opens the application window, with up to ~$100k at stake.

+Inveshure opened an East Coast office.

+Allianz Life is quietly putting together a venture arm for fintech startups, and filling two key roles: Venture Analyst & Corporate Strategic Ventures Manager.

+HabitAware hits HAX in China.

+Come Up Capital launches a $50m midwest tech fund out of Minneapolis.

+Investors and entrepreneurs gathered at Worrell for the 3rd annual Midwest Capital Call.

+POPS! Diabetes Care joins the TreeHouse fold.

+Gravie quietly added Brightstone Venture Capital to their investment roster when they took an additiona $1m in January to make their series B from last year actually $13.5m.

Here’s the individual transactions & amounts that we’re seeing for Q1, if we missed anything, please leave a comment and source:

19 companies – 7,600,000 under AITC
Fideliquest – 410,000
Cloudcover – 515,000
Nimbelink – 2,500,000
Andas – 654,000
Healthsense – 2,500,000
Homespotter – 925,000
POPS! – 500,000
Adventium – 2,200,000
Four51 – 5,000,000
Prevent – 300,000
The Big Know – 3,000,000
Zipnosis – 17,000,000
Phoji – 2,000,000
Gravie – $1m from BrightStone VC