Med Device Dominates MN March Funding Activity
The month saw $100+ million raised across eight companies, with medical device and health technology firms accounting for the vast majority of capital deployed.
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Minnesota's startup ecosystem closed out March 2026 with a strong showing, with medtech and health companies once again anchoring the state's investment activity. The month saw $100+ million raised across eight companies, with medical device and health technology firms accounting for the vast majority of capital deployed. From a neurosurgery platform landing a combined $63M in growth equity to a Minneapolis hospital-tech startup solving one of healthcare's most persistent coordination problems, March reflected the depth and specialization of Minnesota's life sciences corridor.
Monteris Medical - $63M
Monteris Medical is a Plymouth, Minnesota-based company developing minimally invasive neurosurgical technology. Their flagship platform, NeuroBlate, uses laser interstitial thermal therapy (LITT) to treat brain tumors and epilepsy with precision — offering an alternative to open brain surgery.
In March, Monteris closed two simultaneous financing arrangements totaling $63 million: a $28 million Series E equity round and a separate $35 million debt facility provided by Trinity Capital. The company says the capital will be used to accelerate commercial growth and continue innovation in its neurosurgical platform.
Endogenex - $50M
Endogenex is a Plymouth, Minnesota-based medical device company developing a catheter-based therapy for type 2 diabetes. Their approach uses duodenal mucosal resurfacing, a minimally invasive endoscopic procedure, to address the root metabolic dysfunction driving the disease.
The company closed a $50 million Series C extension in March, bringing its total Series C to a substantial figure. The round is intended to support continued clinical development and regulatory advancement of their lead therapy.
Minnesota Medical Technologies - $20.6M
Minnesota Medical Technologies is a medical device company working in the vascular access space. The company develops products designed to improve the safety and reliability of central venous catheter placement.
The company raised a $20.6 million Series A in early March. The round is expected to fund continued product development and commercialization efforts.
Piraeus Medical - $3.58M
Piraeus Medical is a Maple Grove-based medical device company specializing in catheter technology for cranial and vascular access. Their 93 NeuFlex Catheter is a guide catheter designed to provide access to peripheral, coronary, and neuro vasculature, featuring thin-walled construction and a hydrophilic coating to navigate complex anatomy with precision. The company's products are primarily utilized in medical procedures requiring precise cranial interventions. Inknowvation
Piraeus Medical disclosed an early-stage raise of approximately $3.58 million via an SEC filing at the end of March. No public announcement accompanied the filing.
Source: SEC Filing
Kavira Health - $2.78M
Kavira Health is a Wayzata-based direct-to-employer healthcare company reimagining how employees access primary care. Rather than sending patients to a clinic, Kavira delivers care entirely through house visits and a mobile app, integrating with employers' existing insurance plans to lower costs and improve outcomes.
Kavira Health disclosed a $2.78 million Series A via an SEC filing in mid-March. No public announcement accompanied the filing.
Source: SEC Filing
Q-rounds - $1.8M
Q-rounds is a Minneapolis-based health technology company solving one of the most persistent frustrations in hospital care: the unpredictability of physician rounds. Their software integrates with electronic health records to create a real-time virtual queue, alerting nurses, patients, and families when a doctor is expected to arrive, eliminating the anxiety of not knowing and allowing family members to join remotely if needed.
The company closed a $1.8 million seed round in early March, led by Bread & Butter Ventures and joined by Gopher Angels, Irish Angels, Discovery Capital, and Groove Capital. The funding follows an earlier $770,000 angel round and a $2.2 million non-dilutive grant from the National Institute of Nursing Research.
Adialante — YC P26 Batch
Adialante is a Minneapolis-based medical device startup with a bold mission: making MRI technology more accessible.
The company was accepted into Y Combinator's Spring 2026 (P26) batch, a notable milestone for any early-stage startup. Y Combinator is a prominent startup accelerator based in San Francisco that has helped launch over 5,000 companies, including Airbnb, Stripe, and DoorDash.
*This article was created with the Use of AI
