Upstate Deals and Doings – May 23, 2018

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

Published online and emailed to members every other week.

How Investing in Student Entrepreneurship is Paying Off Across New York State

Student entrepreneurship is garnering increasing support across New York State and the country, with meaningful results. Read more here.

Deal Highlights

  • VoicePort, a Rochester-based provider of intelligent, interactive voice response patient engagement systems, was acquired by Prescribe Wellness, via its undisclosed financial sponsor, through an LBO. 
  • RentRedi, a Latham-based developer of a property management software designed to provide innovative, enterprise-quality software to the most under-served parts of the residential real estate market, raised $48,000 of angel funding from undisclosed investors. 
  • SpaceoutVR, a Troy-based developer of a mobile virtual reality software created to monetizes with upgrades and features for entertainment, gaming and communications, was acquired by ValueSetters for an undisclosed amount (paywall). 

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

Industry News

  • Buffalo-based Colligan Law LLP announced that it will now accept cryptocurrency, specifically bitcoin, as a form of payment in exchange for its various legal services. Colligan Law’s announcement makes the firm the first in Western New York to accept bitcoin, as the number of retailers and service providers allowing payment in the form of cryptocurrency continues to grow worldwide.
  • Micatu, a Horseheads-based technology company and the 2016 Grand Prize winner of the 76West Clean Energy Competition has signed an agreement to supply its unique grid technology to Eaton Corp., a leading global power management company. Micatu creates sensors for utility companies and other applications using optics rather than electronics.

Upstate capital events

  • June 13 - Hudson Valley - Planning for the Future: Perpetuation + Succession. Upstate Capital has teamed up with Community Foundations of the Hudson Valley to host an event to bring together members of the business and entrepreneurial communities from across New York to discuss family business perpetuation and succession planning in the Hudson Valley.
  • July 26-27 - Saratoga - Investor Forum. An event designed for investors, transaction professionals and high performing executives that provides valuable content coupled with high quality relationship buidling 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.

Community events

  • May 23-25 - Cooperstown - NYSEDC 2018 Annual Meeting, The Evolution of the Economic Developer.  In a 21st century economy, the term “economic development” has grown to have a variety of meanings. Gone are the days of just trying to attract a company with economic incentives, building a facility, and creating jobs. 
  • June 19 - Plattsburgh - Solutions for NYS Manufacturers - This event is match-maker style, where leaders of manufacturing and product development organizations meet directly with hand-picked business and technology experts in one-on-one consultations. Register here.
  • 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, is the premier industry gathering connecting 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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