,Minnesota's startups had a strong third quarter, according to a recent
report from the Minneapolis St. Paul Business Journal. The publication noted that venture capital investment in the state showed a rebound over previous quarters, with med-tech firms leading the surge.
Companies that raised large rounds include
Segetis Inc., a firm specializing in sustainable chemistry solutions, and
Torax Medical Inc., a medical technology company focused on treatments for digestive, incontinence, and obesity disorders.
One down note in an otherwise sunny report: $20 million of the third quarter revenue was raised by Mainstay Medical Inc., a device firm that plans to move out of the Twin Cities. Since its funding was provided by an Irish venture capital firm, the company will be relocating to Dublin.