U.S. Department of Defense Makes Major Investment in Minnesota-Based Technology Foundry, SkyWater

by The TECHdotMN Team

SkyWaterBack in 2017, SkyWater was a startup making a play at sparking a resurgence of chip manufacturing in the U.S. The Bloomington-based company announced that the U.S. Department of Defense will invest up to $170 million in a multi-phase project to enhance the firm’s microelectronics capabilities. 

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Applications Open This Month for Startup Funding from Launch Minnesota

by The TECHdotMN Team

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Launch MinnesotaIf your startup is based in Minnesota and is less than 10 years old with under $1 million in revenue you could be eligible for a grant from the new Minnesota Department of Employment and Economic Development (DEED) program that’s earmarked $2.5 million a year for local entrepreneurs. 

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Soona and Matchstick Ventures Partnership Showcases Human-centered Approach to Investing

by Valerie Lockhart

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Soona receives human-centered investment from Matchstick Ventures

Last weekend Matchstick Ventures announced a $30 Million Fund II. One of the investors’ most recent successes is local startup, Soona. The Soona journey began in the Techstars Boulder accelerator. This is where owner, Liz Giorgi, met Ryan Broshar of Matchstick Ventures, while he was offering mentoring services to the program. The two found an immediate connection in each other because both are from the Twin Cities. Neighbors meeting in a distant land, and both dedicated to entrepreneurship, they became fast friends. Giorgi described her experience with Techstars as an opportunity to “expedite the process of stabilizing” her business. “It not only helped me in the building of my business, but more importantly, it accelerated my leadership.”

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New Minnesota-based Fund has $225 Million to Invest in Young Med-tech Companies

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Via the Star Tribune

“Two longtime West Coast investors in medical technology, Kirk Nielsen and Dr. Justin Klein, have joined to launch a new firm in Minnesota called Vensana Capital. Despite the challenging environment facing early-stage med-tech companies, Vensana announced this month that its inaugural fund, Vensana Capital I, has attracted $225 million in committed capital with plans to invest in a dozen or so medical-technology companies. “

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Matchstick Ventures Announces a $30 Million Fund II

by Jac Stark

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Minnesota investor Matchstick Ventures announced today that they have raised a second fund of $30 million. The tech-focused fund supports early-stage software companies in growing and underserved startup ecosystems including those sprinkled across Minnesota and the North region, Colorado and the Rockies, and companies across the Techstars ecosystem. Read More »

Marketing Architects Launches Zoomworks Ventures Focusing on Marketing Tech

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Via News Release

Zoomworks_logoMINNEAPOLIS–(BUSINESS WIRE)–Marketing Architects, a Minneapolis based advertising agency, has launched Zoomworks Ventures, a corporate venture capital arm that will focus exclusively on marketing technology and media startups. Zoomworks will leverage Marketing Architects’ 22-year history of internal innovation that has placed the advertising agency at the forefront of developing disruptive marketing technologies to improve clients’ bottom line.

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75F Raises $18M Led by Breakthrough Energy Ventures and Oil & Gas Climate Initiative

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Via News Release

Deepinder Singh“BURNSVILLE, Minn.Sept. 4, 2019 /PRNewswire/ — 75F Inc., a global market leader in wireless building automation for commercial buildings, today announced it has completed an $18M Series A round of financing co-led by Breakthrough Energy Ventures and Climate Initiative with participation from Building Ventures, Revolution’s Rise of the Rest Seed Fund, and Clean Energy Trust. The company, founded in 2012, has raised a total of $25M to date.”

 

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