Upstate Deals and Doings – June 20, 2018

Deals, news and events for the investment community across Upstate New York.

Published online and emailed to members every other week.

Planning for the future: Succession + Perpetuation

Event recap: Eric Allyn talks about selling his 100-year-old, family-owned company, Welch Allyn, and a panel of industry experts cover succession best practices. 

Deal Highlights

  • TrueDime, an Albany-based provider of a health insurance platform intended to offer insurance related advice and recommendations for college students, joined Startupbootcamp as part of the InsurTech London's 2018 accelerator and received EUR 15,000 in funding. 
  • Acurx Pharmaceuticals, a White Plains-based owner and operator of a biopharmaceutical company intended to develop antibiotics, raised $2.87 million of angel funding.
  • American Fuel Cell, a Rochester-based developer of novel fuel cell technology designed for multiple fuel cell applications, was acquired by Plug Power. 

                       *Have a deal you'd like to share? Submit your deal here.

Industry News

  • Private equity firm Summer Street Capital Partners has exited its investment in Cleveland, OH based Dwellworks ,a provider of global solutions for the relocation management companies (RMCs) who support the mobility needs of  relocating employees and their families. 
  • NYSERDA was awarded a $18.5 million U.S. Department of Energy grant to lead a nationwide research and development consortium for the offshore wind industry.

Upstate capital events

  •  July 26-27Saratoga Forum. Upstate Capital's annual marquee event for investors, transaction professionals and executives that provides valuable content coupled with relationship building in beautiful and historic Saratoga.
  • August 1 - Ithaca - Investor Connections for Clean Energy Startups - Upstate Capital is hosting an evening of networking for angel, seed, and venture capital investors to connect with energy and sustainability startups and established companies in the Southern Tier startup ecosystem in Upstate New York.
  • September 26 - Syracuse - The Future of Food - Upstate Capital is hosting an event to highlight the next generation of food and ag tech. Event includes an investor panel discussion, startup pitches and a tour of a 1200-head dairy farm. Register today. Members can contact Bailey for a discount code. 

Community events

  • June 28 - Rochester - Luminate's Light Tomorrow with Today, an exciting Demo Day event in the Big Tent of the Xerox Rochester International Jazz Festival! All 10 finalist companies will be pitching their optics, photonics, and imaging startups, and one team will be awarded $1 million in follow-on funding from the Empire State Development's Finger Lakes Forward initiative. 
  • July 10-11 - New York City - The 18th annual New York Venture Summit, presented by youngStartup Ventures connects venture capitalists, corporate VCs, angel investors, technology transfer professionals, senior executives of early stage and emerging growth companies, university researchers, incubators and premier service providers.
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