Updated as of 5/21/2019: An examination of Minnesota based technology companies based on the gross amount of investment capital received since inception. Excluding Private Equity (majority buyout) deals & debt financing, here are Minnesota’s 25 most funded tech firms based on public disclosure and years of archived reporting:
CES — the largest electronics and technology trade show in the world is happening January 6-9 in Las Vegas, Nevada. 2 million+ square feet of space will house over 4,000 exhibitors this year, featuring products—and the companies that create them — for the consumer technology market.
22 different Minnesota-based firms are represented, from Afinia to Zivix. In alphabetical order they are:
Via News Release
“MINNEAPOLIS — Exosite, whose enterprise-grade cloud platform accelerates the time-to-market for IoT solutions, announced the Exosite IoT Alliance, a collaboration of edge devices, communication, business systems and software, and solution providers. The Exosite IoT Alliance is an ecosystem of like-minded companies and technology providers focused on advancing innovation in the digital enterprise and accelerating the overall adoption of IoT.
Founding members of the Exosite IoT Alliance include some of the world’s leading technology companies: Artila, Atmel, Bitwise IO, Digi, exceet Secure Solutions, GainSpan, Microchip Technology, MultiTech, NimbeLink, Powelectrics, Robustel, SMT Engineering, Synapse Wireless, Texas Instruments, The Nerdery, WPI Group, and WT Microelectronics.”
Updated 2/11/15 – Multiple sources are confirming $38.5 was the amount invested.
Via News Release
“MINNEAPOLIS, July 22, 2015 /PRNewswire/ — Invenshure, LLC, a technology incubator and venture catalyst, today announce that Parker Hannifin Corporation (NYSE: PH) completed a significant minority equity investment in Exosite LLC, one of Invenshure’s portfolio companies.”
How long have you been working in technology for and what is your technical background?
I’ve been working with technology for 15 years. Growing up, I wanted to be an artist or psychologist and the last thing I wanted to do was work with technology. However, in college I stumbled on computer science and loved the way in which it combined math, art, and psychology in a way that could make real impact in the world.
20 21 different Minnesota tech ventures received $38m $45m in financial capital during the third quarter of 2014, according to information collected and analyzed from July 1 through September 30, 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.
Exosite provides software for connected device systems via platform and white label, simplifying the process of collecting and analyzing data. The technology can be applied to industrial process, embedded systems, agriculture, automotive, manufacturing and mobile devices in both enterprise and consumer environments.
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:
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  — which tends to ignore a lot of startup funding (why?).