In the News Archive
Health benefits company Gravie lands $179 million investment
March 21, 2023 – Minne Inno
“… Growth is the focus for [Minneapolis-based] Gravie, which has increased its employee count– now at about 300 full-time employees – by 200% since the beginning of 2022 … The company is planning to hire an additional 75 employees or so this year …”
Inc.’s Midwest regional rankings include 18 Minnesota-based companies
March 1, 2023 – Minneapolis/St. Paul Business Journal
“Eighteen Minnesota-based companies have been ranked in this year’s annual Inc. magazine's Midwest regionals. The list ranked a total of 203 private companies that have greatly impacted the Midwest's economy…”
Med-device company Anteris Technologies raises $24 million
Feb. 21, 2023 – Minne Inno
“An Eagan-based company developing a device to replace a heart’s aortic valve has raised about $24 million…”
Minneapolis startup Vertical Insure, provider of embedded insurance, raises $4M
Dec. 16, 2022 – Minne Inno
“… The company will use the funds to conduct hiring as it scales its go-to-market strategy …”
HistoSonics, which uses sonic waves to destroy cancer tissue, raises $100M
Dec. 13, 2022 – Minne Inno
“… Funds will also be used to expand its current 30,000-square-foot facility in Plymouth …”
Med-tech company behind Walkasins shoe inserts for preventing falls raises $5M
Nov. 15, 2022 – Minne Inno
"… The Eden Prairie-based company [RxFunction Inc.] makes Walkasins, a device that connects shoe-inserted pads with a leg cuff that vibrates when a person shows signs of imbalance while walking …"
Alpheus Medical, which uses ultrasound to target brain tumors, raises $14M
Nov. 11, 2022 – Minneapolis/St. Paul Business Journal
"A Chanhassen-based medtech company developing an ultrasound therapy to remove solid brain tumors has raised nearly $14 million in equity financing …"
Apple software specialist Jamf launches $50 million investment fund for early-stage companies
Oct. 27, 2022 – Minne Inno
“ ... the Minneapolis-based tech company plans to deploy $50 million over the next five years into companies that support the Cupertino, Calif.-based tech giant’s ecosystem …”
Tumor-fighting tech company Monteris Medical raises $73M in equity, debt
Oct. 27, 2022 – Minne Inno
“… The new financing will be used to support industry adoption of the [Minnetonka-based] company’s central business product, the NeuroBlate System, as well as furthering clinical research and technology development …”
Red Lake, White Earth solar energy projects mean new employment opportunities
Oct. 24, 2022 – Star Tribune
“… Minnesota Power, hungry for more clean energy and trained workers, is working to develop projects and train tribal members as solar installers, electricians and more …”
Groove Capital kicks off inaugural cohort for emerging angel investors of color and women
Sept. 13, 2022 – Minne Inno
"Minneapolis-based pre-seed investment firm and angel-investing association, is leading a local cohort to connect emerging angel investors who are women or people of color as part of a regional program..."
MedTrace inaugurates U.S. headquarters in downtown Minneapolis
September 7, 2022 – Medical Alley
“... The company expects to grow from 4 to 10 U.S.-based employees within the next 12 months …”
Business Facilities’ 2022 metro rankings report
August 8, 2022 – Business Facilities
“Minneapolis-St. Paul tied for 8th in Corporate Headquarters and 7th for Tech Talent Leaders.”
Wabash to move entire refrigerated division to Little Falls
August 6, 2022 – Morrison County Record
“Wabash National is prepared to undergo an even bigger expansion and make a larger investment in the area than what was presented just a few months ago...”
Business Facilities’ 18th annual rankings report: State rankings
August 4, 2022 – Business Facilities
“Minnesota was 7th for Best Business Climate; 5th for Semiconductors; 9th for Installed Wind Power Capacity.”
The Camelot Index - Minnesota ranks 5th on six "quality of life" measures
August 2022 – State Policy Reports
“Minnesota was 5th in the index that ranks states on six “quality of life” measures: economy, health, crime, education, society, and state government. The top-ranking state in 2022 is New Hampshire.”
Cirrus unveils painting addition to Duluth facilities
July 15, 2022 – Business North
"Cirrus Aircraft has opened the latest addition to its Duluth manufacturing plant – a 16,000 square foot painting facility that will increase employment by 50 persons. With the expansion, Cirrus will have 86,000 square feet of painting space . . ."
Minnesota firm Stimdia raises $16.1 million to help wean patients off ventilators
July 12, 2022 – Mine Inno
“Stimdia Medical Inc., a University of Minnesota spinout that's engineering technology to wean patients off ventilators, raised $16.1 million in a recent funding round …”
Free-to-restaurants food-delivery startup Froogle raises $500K from Traction Capital
July 11, 2022 – Mine Inno
“… Zimmerman, Minn.-based Froogle works much like other delivery companies, such as DoorDash Inc. or Uber Eats. Unlike those services, which charge commission fees to restaurants, Froogle is free for restaurants to use …”
Wiha Tools paving the way for new facility
July 8, 2022 – Monticello Times
"A longtime Monticello tool maker is planning to build a new manufacturing facility of the north side of Monticello … The project will add 41 new jobs to the existing 61-employee workforce …"
Mille Lacs Band gets over $3 million in federal funding for tribal business incubators
June 30, 2022 – Minneapolis/St. Paul Business Journal
"… The grant is expected to create 75 jobs and generate $2 million in private investment for the Mille Lacs Band …"
Digital recovery platform Kyros launches following $4.4M round led by Rally Ventures
June 28, 2022 – Minne Inno
"The Minneapolis-based company developed a free mobile app that gives patients, customized support by helping hit milestones, share their success and get access to services..."
Minneapolis tech company creates performing arts streaming platform
June 27, 2022 – Star Tribune
"Pennant allows theaters groups, orchestras and artists to charge for access to live-streamed events and premium previously-recorded content … Pennant is a spinout of Minneapolis-based website and app design company Bust Out …"
Humanetics lands $5.1 million to expand options for nuclear fallout drug
June 21, 2022 – Minne Inno
"The $5.1 million deal with the U.S. Department of Defense (DOD) will go towards a new formulation of Humanetics' Bio 300 drug, which is designed to combat acute radiation sickness that soldiers and civilians can suffer following a nuclear attack."
Invenshure launches oncology-focused biotech company, eyes $30 million funding round
June 14, 2022 – Minne Inno
"The Minneapolis-based medical incubator launched MEKanistic Therapeutics, a biotechnology company developing oncology treatments."
Rochester company patents 'digit' design to help people who have lost fingers
May 22, 2022 – Pioneer Press
"Limb Lab co-founder Brandon Sampson...and co-founder Marty Frana recently were issued [a patent] for their innovative design of a 'universal digit' for clients who have lost a finger."
Minnesota biotech firm Vyriad raises $29.5 million for cancer-fighting viruses
May 17, 2022 – Minne Inno
"...the Rochester-based company will use the funding to develop pipeline technology used to treat more types of cancer..."
Maple Grove's industrial surge
May 9, 2022 – Finance & Commerce
"Arbor Lakes Business Park is on the road to surpass 1 million square feet…Illume, a candle manufacturer, occupies the first building. The second building has multiple tenants, including Sensiva, a health care company, and a manufacturer of industrial netting products..."
Bobcat plans $13M plant in Rogers, will hire more than 100 workers
May 9, 2022 – Star Tribune
"The Doosan Bobcat plant is the second plant announced for Rogers in as many weeks …"
Wabash considering expansion in Little Falls
May 9, 2022 – Morrison County Record
"Wabash National may soon be adding about 80 new jobs at its Little Falls production facility..."
Minnesota businesses team up to bring plastic film recycling to state
May 4, 2022 – Star Tribune
"[South Africa-based] Myplas is opening a $24 million recycling facility in Rogers next year to process flexible films and other plastics that otherwise would be headed for the landfill…The state is contributing $1.4 million in loans and grants for the facility, which will employ up to 300 people …"
Minnesota solar firms, including Eden Prairie’s EVS, growing at hot pace
Apr. 28, 2022 – Star Tribune
"…EVS…has grown from 50 to 120 workers since 2019. The company just expanded its headquarters by 40% …"
Pet food maker NutriSource launches $20M expansion in Delano
Apr. 28, 2022 – Twin Cities Business
"Perham-based pet food company NutriSource is expanding its manufacturing footprint in Delano…the company said it has built a $20 million, 45,000-square-foot wet food cannery inside the Tuffy’s Treats Co. manufacturing facility…"
Cirrus Aircraft Continues Global Expansion with New European Locations
Apr. 27, 2022 – Business Wire
"…will open a European regional operations office in Rotterdam, Netherlands, scheduled to launch in June 2022, in addition to the recently announced aircraft sales presence based in Valenciennes, France…"
South African company wants to make Rogers its North American headquarters
Apr. 8, 2022 – Press & News
"...MyPlas, a company that recycles plastics and turns them into new materials, plans to lease half of the 400,000-square-foot industrial building formerly occupied by Archway..."
Hibbing electronics plant to expand
Apr. 5, 2022 – Mesabi Tribune
"...Detroit Diesel Remanufacturing will construct a 60,000 square-foot, $17.5 million expansion at its existing facility at Range Regional Airport..."
Curious Minnesota: What are Minnesota’s most exported products?
Apr. 1, 2022 – Star Tribune
"...Minnesota doesn't have one dominant product or category of exports. Rather, it is an eclectic exporter of many different things including snowmobiles, hearing aids, spraying equipment, filters, petroleum oils and fuels, iron ore, and yes, soybeans and corn..."
Minneapolis market is No. 3 in nation for small-business job growth
Mar. 30, 2022 – Minneapolis/St. Paul Business Journal
"…Though the metro's Small Business Jobs Index, which is based on payroll data for businesses with fewer than 50 employees, slightly dropped from February, it still ranks third in the country for year-over-year job growth for small..."
Miromatrix moves into new headquarters
Mar. 30, 2022 – Minne Inno
"…The 42,000-square-foot office, is complete with a 11,000-square-foot in-house manufacturing facility. The new space gives the company room to manufacture organs for pre-clinical and clinical trials..."
Iron Range manufacturer expanding, set to double sales this year
Mar. 29, 2022 – Star Tribune
"MnStar Group, which makes industrial wire harnesses, is building a 30,000-square-foot facility next to its existing 24,000-square-foot factory in Bovey…"
With $75M in fresh capital, Minneapolis firm plans to expand its health benefits
Mar. 28, 2022 – Star Tribune
"Minneapolis health benefits company Gravie is planning to use $75 million in fresh investment capital to expand access to its digital marketplace across the U.S. and double its employee count in the next 12 months..."
Polaris breaks ground on $22 million robotic paint factory in Roseau
Mar. 25, 2022 – Star Tribune
"The plant will likely open in 2024. The company is actively recruiting for 100 open positions in Roseau…"
Players Health raises $28M in quest to protect youth athletes
Mar. 23, 2022 – Minne Inno
"…The Minneapolis-based company said…the funding will contribute to investments in technology and people, which will expand and enhance its athlete-safety and insurance offerings…"
3M, Ecolab, Best Buy among Minnesota businesses on Most Ethical Companies list
Mar. 17, 2022 – Minneapolis/St. Paul Business Journal
"Six of Minnesota’s largest companies were selected as honorees for the 2022 World’s Most Ethical Companies List"
The tech hub hockey built
Mar. 17, 2022 – Minne Inno
"…SportsEngine was just the start of a burgeoning trend that turned Minnesota into a hub of startups that are changing how sports leagues are run, how players develop their skills, and how they're kept safe…"
University of Minnesota plans $220M agriculture research center near Austin
Feb. 10, 2022 – Star Tribune
"…The University of Minnesota is planning a sprawling $220 million research complex in southern Minnesota near Austin as it seeks to put the state on the cutting edge of farm and food technology…"
Compute North raises $385M to expand its crypto data-center footprint
Feb. 9, 2022 – Star Tribune
"…The Eden Prairie-based company is using the funds to expand its footprint as it constructs facilities in Nebraska, North Carolina and Texas…"
Excellence in Economic Development Awards
February 2022 – EDAM
"Neela Mollgaard & Launch Minnesota Initiative receive 2022 Innovation Award…"
Seagate plans bigger Bloomington facility
Feb. 7, 2022 – Minneapolis/St. Paul Business Journal
"...the Bloomington Planning Commission has approved Seagate’s plans to add 81,000 square feet to its manufacturing facility which will, in turn, make way for 45 more jobs there..."
Minneapolis-based Tech Company Yardstik Lands $8M raise
Feb. 4, 2022 – Twin Cities Business
"…Yardstik offers screening, verification, and training solutions…The company plans to use the $8 million raise to hire additional team members, continue product development, and evolve their go-to-market strategy…"
How a Twin Cities company is helping USA's luge team go for the gold
Jan. 26, 2022 – Axios Twin Cities
"…Stratasys, a 3D printing company based in Eden Prairie, made the sled molds used by Team USA…"