You can see exactly how much is raised at any point by going to https://thorchain.org/token.

The whole funding phase is planned to last about two years as the project develops. Each funding tranch is consistent with predefined roadmap development milestones which means we will open up new tranches as the project hits its dev milestones. The ETH:RUNE ratio is different in each tranch however.

Regarding the MVP, our testnet is already operational and you can see it at https://thorchain.info/. You can also find the dev demo videos in the ANN thread which showcase various functionality.
Lastly, we are launching a public Alpha of our ASGARDEX exchange later this month!