credit, getty images
credit, Getty Images
After a somewhat sleepy first quarter for funding, Minnesota startups picked up the pace in May, raising around $48 million in venture capital.
Minneapolis financial-technology startup ClickSWITCH, which closed on a $13 million Series B round of funding, had the largest raise of the month.
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Read Minne Inno’s past monthly funding roundups here.
ClickSWITCH
- Minneapolis-based financial-technology startup ClickSWITCH closed on a $13 million round of financing to fuel growth. ClickSWITCH will use its fresh round of funding to ramp up hiring within its software development and sales teams and expand executive leadership. The round will also be used to support operations with new financial partners.
Crosscode
- Maple Grove-based Crosscode raised a $9.25 million round of funding. The company helps other businesses manage their software assets.
Agosto
- Agosto Inc., a cloud services and development company, has secured $6.5 million to increase headcount and fund business improvements. The latest capital, which is a mix of credit and convertible note, came from San Jose, Calif.-based Bridge Bank and Stamford, Conn.-based SG Capital Partners. The company has thus far avoided equity investments.
Upsie
- Tech startup Upsie closed on a $5 million financing round that it plans to use to grow its team and generate more awareness of its warranty service. The round was led by San Francisco-based True Ventures. Also participating in the round were Minneapolis-based Matchstick Ventures; St. Paul-based Syndicate Fund, Boulder, Colo.-based Techstars Ventures; Chicago-based M25; and angel investors Marc Belton Daren Cotter.
NeoChord
- Med-device company NeoChord closed on another $7 million in equity financing less than six months after raising $25 million to enhance its technology, which treats a heart condition.
TinySeed
- TinySeed, a new accelerator program designed for self-funded software startups, raised around $3.4 million from 49 backers.
NightWare
- NightWare, a Minneapolis-based medical-device startup creating an Apple Watch app for those suffering from nightmare disorder, a common side effect of post-traumatic stress disorder, has raised $305,000 in a planned $2.8 million round. The company previously raised $250,000 in early 2018 and received a $100,000 grant from the Support the Troops program from the Minnesota Department of Veterans Affairs.
SynerFuse
- SynerFuse, an early-stage med-tech company, closed on $2.6 million to fund its first clinical trial. Incorporated in 2015, Minneapolis-based SynerFuse is developing a system that could be used during back surgery to target pain that lingers on after the operation.
Aker
- Agriculture-technology startup Aker has raised around $1.9 million in a planned $2.86 million round of financing, according to an SEC filing.
