Minneapolis / St. Paul Business Journal by Katharine Grayson, Staff reporter
Dymedix Diagnostics Inc., which makes sensors used to diagnose sleep disorders, has raised $2.5 million in capital from angel investors.
The Shoreview-based firm will use the funds to ramp up sales and marketing, said Evan Johnston, the business’ interim chief operating officer. Company officials hope to ultimately raise about $4 million.
“We’ve never had the capital to really do sales and marketing properly to capture enough market share,” he said.
The company initially built a direct sales force. It now plans to expand its business via partnerships with manufacturers of other sleep-diagnostics products.