Just over a half-dozen Minnesota startups and venture capital firms raised a combined $148 million in September.
The largest raise on our list this month is Town Hall Ventures' debut fund, which the firm closed at $115 million. September's largest venture capital round belonged to 4C Medical Technologies, which snagged $17 million to further develop its product.
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Read Minne Inno's past monthly funding roundups here.
Conservis
- Conservis Corp., a developer of farm-management software, has secured $12 million in a planned $20 million round, CEO Sherman Black told Minne Inno. Farmers use Conservis’ platform to manage their businesses and track and share data. The company has built a foothold in row-cop farming (corn, soybeans, etc.). Last year, Conservis closed on $9.5 million in debt financing hoping to make inroads into the market for almonds and other tree nuts.
4C Medical Technologies
- Med-tech startup 4C Medical Technologies closed on a $17 million round of funding, which the company says will go toward product development. The company raised about $9 million last summer to lay the groundwork for a clinical trial of its device, which aims to treat mitral-valve regurgitation, a condition that causes blood to flow backward into the heart.
Capita3
- Capita3, a Minneapolis-based venture capital firm led by serial investors and entrepreneurs Sara Russick and Pam York, has closed on $1.2 million for its first fund, which will back women-led health startups. Capita3 will provide seed-stage funding for seven to 10 women-led companies in the Midwest over the next two years. Capita3 aims to back startups in innovative health sectors such as genomics, digital health, women’s health and food-as-medicine.
Town Hall Ventures
- The venture capital firm started by former Obama administration official and ex-Optum executive Andy Slavitt closed on $115 million for its first fund. Town Hall Ventures backs startups that target underserved populations. So far, the firm has invested in several startups, including Minneapolis-based insurer Bright Health.
Learn to Live
- Mental health startup Learn to Live closed on $4.5 million in capital. The Minneapolis-based startup, which develops online programs that aim to treat mental and behavioral-health disorders, plans put the funding largely toward growth efforts such as ramping up marketing.
Omnia Fishing
- Omnia Fishing is a new platform that aims to give fishing enthusiasts a more tailored shopping experience by recommending products based on the bodies of water where they frequently fish. Earlier this month, the company raised $1 million from Minneapolis-based angle investor group Gopher Angels and other individuals.
Protocol 46
- Protocol 46 Inc., a startup that provides cybersecurity technology and services to businesses, closed on $1.1 million in capital. Twin Cities Angels led the round of funding. St. Paul-based Protocol 46 is led by military veterans, including CEO Scott Schue, who previously worked for Target and IT firm Breakwater Systems.
