The funding of the medtech company reflects the strength of Minnesota’s Innovation Ecosystem, which includes a Medtech hub of startups and investors.
The recent $20.6 million Series A funding for Minnesota Medical Technologies is more than a corporate milestone—it is a powerful validation of the Minnesota medtech ecosystem.
This capital infusion reflects the unique strength of the state’s innovation infrastructure, where specialized investors, world-class research institutions like the Mayo Clinic, and a deep pool of experienced talent converge to scale life-changing healthcare solutions.
Funding will give the continence care innovator fresh momentum as it prepares to launch its StaySure™ product in the U.S. market and expand from southeastern Minnesota into a larger national commercial opportunity.
The new funding, announced by the Stewartville-based company, was co-led by HM Venture Partners and Southeast Minnesota Capital Partners. The capital will help the company scale operations, build out commercial and distribution capabilities, add talent, and strengthen its balance sheet as it enters a new growth phase.
The financing is a major milestone for Minnesota Medical Technologies. It is also another example of why Minnesota continues to stand out as one of the nation’s most important medical technology ecosystems.
A Minnesota medtech company addresses an overlooked healthcare need
Minnesota Medical Technologies was founded in 2015 to tackle one of healthcare’s most under-addressed conditions: fecal incontinence, also known as accidental bowel leakage. The condition affects more than 2% of the global population, impacting tens of millions of people worldwide, yet treatment options have long remained limited.
Many patients still rely on absorbent products such as adult diapers and pads instead of solutions designed to restore comfort, dignity, and day-to-day confidence. Minnesota Medical Technologies saw that gap and set out to create a product that could offer patients a more discreet and effective alternative.
Its lead product, StaySure™, is a clinically proven, single-use insert developed to safely and effectively manage accidental bowel leakage and fecal incontinence. The product was developed in collaboration with Mayo Clinic gastroenterologist Adil Bharucha, MD, reinforcing the company’s close ties to Minnesota’s broader medical innovation infrastructure.
That relationship proved important in the product’s development. Minnesota Medical Technologies completed a clinical trial at Mayo Clinic, and in July 2025, the FDA granted clearance for StaySure™, clearing the way for commercialization in the United States.
Series A funding will support launch, hiring, and long-term growth
CEO David A. Jonas described the financing as a pivotal moment for the company. With investor backing, Minnesota Medical Technologies is now positioned to move from development and validation into full commercial execution.
The company said the $20.6 million in new capital will be used exclusively in three areas.
One major focus is U.S. market entry. Minnesota Medical Technologies plans to build the operational, commercial, and distribution infrastructure needed to launch StaySure™ through multiple channels across the U.S. healthcare market.
Another priority is talent acquisition. The company aims to expand its team across sales, marketing, and customer care to accelerate physician and patient education, drive brand awareness, and support revenue growth.
The third area is financial security, including debt reduction and creating a stronger financial foundation for disciplined expansion.
This is often the stage when medtech startups face their biggest test. They may have clinical proof, FDA clearance, and a compelling product, but building a commercial operation is what turns a promising innovation into a scalable business.
This raise gives Minnesota Medical Technologies the resources to take that next step.
Minnesota’s innovation ecosystem is helping medtech companies scale
The funding round also reflects the strength of the Minnesota innovation ecosystem, especially the medtech cluster in Rochester and southeastern Minnesota.
Minnesota has long held a national reputation in healthcare and medical devices, supported by world-class hospital systems, research institutions, engineering talent, and experienced medtech leadership.
In southeastern Minnesota, the Mayo Clinic plays a key role as a global healthcare leader and innovation anchor. Minnesota Medical Technologies is a clear product of that environment, having collaborated with Mayo Clinic in product development and clinical testing.
Investors add to the region’s ecosystem strength.
Southeast Minnesota Capital Partners, based in Rochester, specifically focuses on Minnesota medtech companies. The firm manages early-stage venture capital funds and special-purpose vehicles to support promising healthcare startups in the state.
HM Venture Partners, the co-lead investor, also has a notable Mayo Clinic connection. Founder Robert Luo previously served as a senior investment officer in Mayo Clinic Treasury Services before launching the San Francisco-based venture capital firm, which now backs medtech and biotech companies globally.
Local expertise and outside capital combine to make Minnesota a breeding ground for high-potential healthcare ventures.
Startups in the region benefit from the entrepreneurial community, part of a growing ecosystem that brings together clinical validation, investor support, specialized manufacturing, and experienced operators.
Experienced leadership strengthens the opportunity
Minnesota Medical Technologies also benefits from a leadership team with a proven history of value creation. The company notes that its team includes leaders with experience from Rochester Medical Corporation, which was sold to CR Bard in 2013 for $262 million.
That kind of operational experience matters in medtech, where building a company requires more than a strong idea. Success depends on regulatory expertise, market education, reimbursement awareness, manufacturing discipline, and execution across long sales cycles.
By combining experienced leadership with a clinically validated product and strong regional support, Minnesota Medical Technologies is well-positioned for its next stage.
A sign of where Minnesota medtech is headed
This funding round is about more than one company. It signals how the Minnesota medtech hub continues to create, validate, and scale healthcare innovation with national relevance.
The growth of Minnesota Medical Technologies serves as a blueprint for how a state-level innovation ecosystem can tackle “unmet medical needs” through collaborative development.
For entrepreneurs, this deal reinforces that Minnesota remains one of the nation’s most fertile grounds for healthcare ventures.
As MMT begins its national rollout, it stands as a testament to the enduring power of the Minnesota medical device cluster. It is a region that doesn’t just fund startups but provides the entire lifecycle of support needed to change the face of healthcare.
