Funded Startups in Minnesota
Among the disclosed Minnesota rounds shown (39 of 50 rows), the largest is Merit AirFinance’s $817M round on 2026-03-16, which dwarfs the next-largest disc…
Among the disclosed Minnesota rounds shown (39 of 50 rows), the largest is Merit AirFinance’s $817M round on 2026-03-16, which dwarfs the next-largest disclosed amount at $500M (Celcuity, 2026-06-03). That concentration shows up again in the upper tail: three disclosed rounds are at or above $100M (Celcuity $500M on 2026-06-03; Northern Oil and Gas $200M on 2026-03-11; Merit AirFinance $817M on 2026-03-16), but everything else steps down sharply into much smaller disclosed sizes.
The time window is heavily weighted toward 2026 (46 of 50 rows), spanning from 2025-12-09 to 2026-08-10. Geographically, Minneapolis dominates repeated locations (20 entries), including Claros Technologies (2026-07-28, $55M), SharpLink (2026-06-22, $75M), and several other Minneapolis-based names across Biotechnology, Health Care, and Commerce and Shopping; Rochester (5 entries) clusters multiple healthcare/radio-pharma and biotech financings such as Nucleus RadioPharma ($50M, 2026-04-20) and Vyriad (Series B, $25M, 2025-12-23).
Most recent rounds
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Frequently asked
How does the largest disclosed Minnesota round compare with the rest of the disclosed amounts in this list?
Merit AirFinance’s $817M (2026-03-16) is a clear outlier; the next-largest disclosed amount is Celcuity’s $500M (2026-06-03). The disclosed “$100M+” bucket contains exactly three rounds: Merit AirFinance ($817M), Celcuity ($500M on 2026-06-03), and Northern Oil and Gas ($200M on 2026-03-11).
Are there date clusters, or is the activity evenly spread across the shown period?
The activity is concentrated in 2026: 46 of 50 rows fall in 2026, with the displayed range running from 2025-12-09 to 2026-08-10. Within that window, several of the largest disclosed rounds land in March and June 2026, including Merit AirFinance ($817M, 2026-03-16) and Celcuity ($500M, 2026-06-03).
Which city shows the strongest concentration of funded entries in this Minnesota list?
Minneapolis is the primary hub by repeated appearance, with 20 entries listed in Minneapolis. Examples include SharpLink (2026-06-22, $75M), Claros Technologies (2026-07-28, $55M), and Merit AirFinance (2026-03-16, $817M), while other repeated cities like Saint Paul and Rochester appear 5 times each.
What does the stage mix look like across these recent Minnesota rounds?
Series Unknown dominates at 34 of 50 rows, covering entries like DpHUE (2026-06-29, undisclosed) and Enterprise Energy (2026-05-21, undisclosed). Beyond that, there are 9 Seed rounds and smaller counts of Pre-Seed (3), Series B (2), plus one Convertible Note (Insitu Biologics, 2026-08-10, $1M) and one Series A (Minnesota Medical Technologies, 2026-03-05, $21M).
Do any sectors stand out as especially prevalent, and are large rounds concentrated in specific categories?
Biotechnology (11) and Health Care (10) are the largest sector groupings, followed by Commerce and Shopping (5). Large disclosed rounds appear across categories rather than one sector alone: Merit AirFinance ($817M, Financial Services; 2026-03-16), Celcuity ($500M, Biotechnology; 2026-06-03), and Northern Oil and Gas ($200M, Energy; 2026-03-11).
Which entries are worth flagging as outliers on disclosed size, including the smallest disclosed amount?
On the high end, the largest disclosed round is Merit AirFinance’s $817M (2026-03-16), far above the rest; the next-largest disclosed is $500M (Celcuity, 2026-06-03). On the low end, the smallest disclosed amount is $0K for Appraisal Dream (2026-04-24), while several other disclosed entries cluster in the $30K–$10M band (e.g., Rowbot Systems $30K on 2026-02-18 and Blu Dot $8M on 2026-01-26).
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