According to our 2011 second quarter analysis, at least
17 19 early stage Minnesota technology firms received investment capital during April, May and June.
Updated 8/4/11: Three additions to our Q2 2011 Minnesota tech investment analysis:
$26.5m $35m in funding was attributed to Minnesota’s high tech sector, largely skewed by health IT firm Ability Network’s $20m round $27m round. Ability’s raise was the largest tech deal Minnesota has seen since January 2010, when Cymbet raked in $31m for thin film rechargeable batteries. The remaining 16 18 startups raised roughly $6.5m $8m combined, for an average round of $405k $445k.
When contrasted against last quarter’s analysis, both the number of transactions
(-15%) (-10%) and the aggregate funding volume are down (-30%) (-8%), although the average deal size is up slightly.
This analysis supports the full spectrum of financing ($25k+), regardless of stage or definition (angel, seed, series A etc.) and many startups are currently fundraising. While we attempt to compile the most complete set of data, it remains imperfect as unreported transactions occur.
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