Minnesota Medical Technologies Raises $20.6 Million Series A to Support U.S. Launch of StaySure

Minnesota Medical Technologies Corporation has raised $20.6 million in Series A preferred equity financing co-led by HM Venture Partners and Southeast Minnesota Capital Partners, to support the launch of its StaySure device in the U.S. market and to expand operational capacity as demand grows. The company also plans to establish operational, commercial, and distribution infrastructure to introduce the product across multiple channels.

“This funding marks a pivotal moment for our company,” said David A. Jonas, CEO of Minnesota Medical Technologies Corporation. “With the support of our investors, we are now positioned to launch StaySure™ into the newly cleared US market and expand our talented team. For the millions of people living with fecal incontinence, this represents an opportunity to finally access a safe, effective, and life-changing solution.”

Part of the capital will also be allocated to talent acquisition across sales, marketing, and customer care functions, as well as debt reduction to strengthen the company’s financial position. The company aims to build a team capable of supporting market education, expanding distribution, and driving long-term revenue growth.

Founded in 2015, Minnesota Medical Technologies focuses on developing solutions for fecal incontinence. Working with Mayo Clinic gastroenterologist Adil Bharucha, MD, the company developed a single-use device designed to offer an alternative to absorbent products commonly used by patients. The StaySure device received clearance from the U.S. Food and Drug Administration in July 2025 following a clinical trial conducted at Mayo Clinic.