<< All News Monday, April 22, 2024 - 10:02 am

The North Dakota Development Fund, Inc. (NDDF) announced the latest round of investments made by the Wonder Fund, showcasing remarkable growth opportunities for North Dakota’s economy. With strategic capital deployment, the Wonder Fund continues to exceed expectations, significantly boosting growth for existing North Dakota companies while attracting new businesses to the region.

"The recent round of investments highlights Wonder Fund's strategic capital deployment, significantly boosting growth for existing ND companies and attracting new businesses to North Dakota,” Commerce Head of Investments and Innovation Shayden Akason said. “These companies are integral to our key industries and the emerging sectors of the state’s economy."

The latest investments by the Wonder Fund include:

  1. Thread - Wonder Fund has made a follow-on investment of $2,500,000 in Thread, a Grand Forks-based enterprise-scale autonomous inspection and asset management software company. Co-founded by Josh Reidy, Thread is committed to improving the world by addressing the challenges of our aging energy infrastructure.
  2. Tavolo - Wonder Fund has invested $250,000 as part of a $1,000,000 round in Tavolo, an AI-driven content creation and automated marketing platform tailored for local restaurant owners. Founded by Fargo native Taranvir Johal, Tavolo will expand its operations in North Dakota, hiring new talent and seeking partnerships with local restaurants. 
  3. Drut Technologies - A $1,000,000 investment by Wonder Fund, as part of a $10,000,000 round, has been made in Drut Technologies. Drut specializes in building a disaggregated photonic data center system, with North Dakota identified as a region of high consumption potential for their innovative solutions. Drut plans to invest in workforce development initiatives and support customer deployments in the region. 

Additionally, through the Angel Match Program, the North Dakota Development Fund has invested $250,000 in Aethero, a company revolutionizing AI-powered building and infrastructure data analytics solutions. Aethero’s innovative approach combines drone technology with AI to provide comprehensive building health assessments, benefiting various industries.

These investments signify the commitment of the Wonder Fund to foster innovation, entrepreneurship, and economic growth in North Dakota. Commerce looks forward to the continued success of these ventures, driving prosperity and opportunity across the state.

More information about the NDDF can be found at belegendary.link/North-Dakota-Development-Fund.  

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