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Report shows rise in Minnesota tech venture funding

At least 24 Minnesota tech ventures raised in excess of $28 million in the first quarter of the year, according to a report from local technology site TECHdotMN.
Analyzing data from January 1 to March 31, the site compiled data from multiple sources, and noted that actual numbers are estimated to be at least 20 percent higher, based on information from investors who couldn't disclose their investment activity publicly.
In comparison, 24 companies in the same quarter last year raised $58.6 million, and while this might seem like this year is a decline in tech venture funding, last year's total was skewed by a single deal for Code 42 Software worth $52.5 million. When that deal is removed from consideration, it shows a significant rise in funding overall for tech in the state.
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