In the News Archive
MN Cup grand prize goes to Carba
Sept. 19, 2023 – Twin Cities Business
"Minnesota’s largest startup competition presented its top award to the Minneapolis-based developer of a reactor that removes carbon dioxide from the atmosphere …."
Laborie buys Urotronic, maker of med-tech device for prostate
Sept. 06, 2023 – Minneapolis/St. Paul Business Journal
"Urotronic Inc., a Twin Cities medical-technology startup that's developed a device to treat urological disorders, has been acquired by Laborie Medical Technologies Inc. in a deal that could be worth as much as $600 million …."
Chemical startup has $90M plan for Minnesota
Aug. 29, 2023 – Finance & Commerce
"Solugen Inc. is floating plans for a major new production facility in Marshall, a project that would bring at least $90 million worth of investment and dozens of high-paying jobs to western Minnesota …."
$1.5B available for clean energy from Minnesota firm AB CarVal
August 2, 2023 – Minneapolis/St. Paul Business Journal
“St. Louis Park-based AB CarVal has closed on a $1.5 billion fund geared toward clean energy efforts … AB CarVal has about 120 employees at its West End headquarters. It also has offices in New York, London and Singapore …”
Eagan-based Pelvital raises $2.68M in seed round
August 2, 2023 – Twin Cities Business
“The funds will be used to finish development of a device to help women affected by stress urinary incontinence …”
Cirrus buys city building for $3.45 million
July 23, 2023 – Duluth News Tribune
"...The purchase of the incubator building will allow us to expand production and meet the growing demands of our customers …”
Boston Scientific plans $170M campus in Maple Grove
July 26, 2023 – Star Tribune
"...the company expects to create 177 jobs within the first three years at an average cash wage of $65.08 per hour …”
Solar panel company plans $145M factory in Twin Cities
July 25, 2023 – Star Tribune
"Heliene, which already operates a plant on the Iron Range, will begin production in 2024 …”
Cirrus buys city building for $3.45 million
July 23, 2023 – Duluth News Tribune
"...The purchase of the incubator building will allow us to expand production and meet the growing demands of our customers …”
Minneapolis sustainable cereal brand raises $6M
July 5, 2023 – Twin Cities Business
“… Seven Sundays, which currently has 11 employees, also plans to hire more workers and purchase processing and packaging equipment …”
Flywheel lands $54M Series D raise
June 27, 2023 – Twin Cities Business
“The [Minneapolis-based] company has developed an AI-based platform designed to help researchers comb through massive amounts of medical imaging data …”
Minneapolis wound care startup raises $4.25M
June 15, 2023 – Twin Cities Business
“Founded in 2022, The Wound Company aims to improve outcomes for wound patients through technology and ‘high-touch’ personalized care …”
Graco expansion will nearly double size of Anoka plant, add 50 jobs
June 9, 2023 – Star Tribune
"After adding significant space in Dayton and Rogers over the past four years, Graco's expansion will nearly double its footprint in Anoka …”
Lockheed Martin Chooses St. Paul for a Business Expansion
May 23, 2023 – Twin Cities Business
“High-paying jobs will be created in St. Paul this year when Lockheed Martin Corp. opens a facility to serve commercial, defense, and security customers.”
Medical-device incubator Vita Group plans new 140K-square-foot headquarters in Woodbury
May 17, 2023 – Minneapolis/St. Paul Business Journal
“Medical device incubator Vita Group has begun renovating a new 140,000-square-foot space in Woodbury as part of an effort to further expand its operations.”
Modest-activewear startup Kalsoni tailored to Muslim women lands deal with REI
May 11, 2023 – Minne Inno
“[Muna] Mohamed’s startup was later rebranded to Kalsoni, a Somali word for confidence, the CEO said. Prior to the name change, the startup had placed fourth in a student division of the Minnesota Cup and participated in Target Corp.’s incubator program in 2020...”
Nucleus RadioPharma to become Two Discovery Square's second tenant
May 10, 2023 – Rochester Post-Bulletin
“Radiopharmaceuticals used in cancer treatments at Mayo Clinic will be made just down the road at Two Discovery Square starting in 2024…”
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..."