Fargo, ND businesses see over $21M in investments so far in 2018

Fargo, North Dakota might not be the first city that comes to mind when discussing hubs for investments and venture capital. But the modestly sized town of 120,000 has put up some impressive numbers this year with several multi-million dollar deals. Botlink On April 26, 2018, Botlink received $3.36 million in individual funding – marking…

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Fargo, North Dakota might not be the first city that comes to mind when discussing hubs for investments and venture capital. But the modestly sized town of 120,000 has put up some impressive numbers this year with several multi-million dollar deals.

Botlink

On April 26, 2018, Botlink received $3.36 million in individual funding – marking a continued expansion of Fargo’s drone industry.  All the funders are based in the company’s hometown of Fargo, ND. This is the biggest funding Botlink has ever received.

At a glance…

Botlink developed a platform for drone operation that provides advanced operation options. The company works specifically with customers on aerial image delivery and safe drone automation.

The Company was founded by Terri Zimmerman and Alexander Kube in 2014.  Zimmerman is the current CEO. She is also a board member at North Dakota Development Fund and has worked at several companies including Dakota Technologies, Wamnet, and Great Plains Software. Alexander Kube is the CTO, and a co-founder. He has previously served as a technician at Corporate Technologies. He currently leads Botlink’s innovation efforts. They located in downtown Fargo as an early supporter of revitalization. The plan is to use the funds to increase marketing and make product improvements.

For more information on Botlink visit botlink.com.

PacketDigital

On April 26, 2018, Packet Digital received $9.69 million in individual funding. Current investors include Dakota Venture Group, National Science Foundation, United States Department of Defense and U.S. Department of Health and Human Services.  This Funding is the largest in the company’s History, and the only funding received since the beginning of 2014.

At a glance…

Packet Digital is a manufacturing company that specifically manufactures and markets circuits for power management in portable devices and embedded systems. The company works with customers in multiple industries including medical devices, consumer, and defense.

The company was founded in 2003 and is based in Fargo near the Red River Front.  The company plans to used the recently acquired funds to add sales and marketing and improve their product.

The Founder and ex-CEO, Jorgenson, is currently a professor at North Dakota State University. The Current CEO, Terri Zimmerman also holds the position of CEO at Botlink and is a board-member at North Dakota Development Fund.

For more information on Packet Digital visit packetdigital.com/.

Myriad Mobile

On May 15, 2018, Myriad Mobile received $7 million in individual funding. Current investors include Enterprise Institute, Gen7 Investments, HA Dahl Family, MetaFarms, Thoreson Steffes Trust Company, and NDSU Research & Technology Park.  This is Myriad Mobile’s largest funding to date.

At a glance..

Myriad Mobile is an enterprise software development company specializing in agtech with a focus on design, development, and strategy. The firm creates custom mobile-first software applications and technology platforms and has worked on over 600 projects since 2011.

The pool of funders includes investors from Fargo and parts of Minnesota and South Dakota. With four offices across the Northern Midwest, Myriad Mobile proves a safe investment for the likes of Enterprise Institute, Gen7 Investments, HA Dahl Family, MetaFarms, and Thoreson Steffes Trust Company. The company was started by Jake Joraanstad and Ryan Raguse in 2010 in Fargo near the Red River.

The Company is using the $7 million raise to help grow its product Bushel, a patent-pending digital platform for the grain industry.

Nearly a year following its launch in June 2017, Bushel has expanded its footprint from ten pilot locations in North Dakota to more than 400+ elevator and ethanol plant locations throughout the U.S. and Canada. More than 20,000 growers have access to Bushel-powered apps today.

Joraanstad, co-founder and CEO of Myriad Mobile, is the lead Technology expert within the company. Raguse, co-founder and the Chairman at Myriad Mobile, also founded Virtual Farm Manager in 2011. Mark Hempel is the President and co-COO with Eston Taylor. Hempel has worked with Apple and McGraw-Hill and created the educational software called The Oregon Trail.

For more information on Myriad Mobile visit myriadmobile.com/.

Virgin Plants

Virgin Plants, founded in 2013 and based in Fargo, North Dakota, is a plant biotechnology research agency that is working to bring apomixis technology, the asexual reproduction (self-cloning) of a seed, to market.

The company completed a Series A venture funding deal in July worth $1.2 million with Linn Grove Ventures, Middleland Capital and Iowa Corn Opportunities. Cultivan Sandbox Ventures also participated in the round. Virgin Plants CEO is Harry Schulz.

At a glance…

Dr. Tim Sharbel is an evolutionary biologist at the Global Institute for Food Security at the University of Saskatchewan specializing in apomixis research.  He and his laboratory have discovered a gene, called APOLLO, which could induce apomixis in major commercial crops (such as rice, soy, and cotton), a naturally occurring phenomenon currently only present in wild plants.

Virgin Plants is seeking to commercialize the discovery of Dr. Sharbel to revolutionize plant breeding and the agricultural industry.  Virgin Plants hopes to increase crop production and innovation with the prospect of a self-pollinating hybrid that maintains its genotype followed by its replication for generations, and intends to partner with breeders and seed producers to bring its technology to the marketplace.

To learn more about Virgin Plant company, visit virginplants.com/

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