Upstate Deals and Doings – December 18, 2017
Deals, news and events for the investment community across Upstate New York
Formarum, a Buffalo, N.Y.-based development company offering swimming pool and spa solutions that integrate new technologies to improve water quality, closed on a venture investment from OneTen Capital in early December, the 2nd for OneTen investor Jenae Pitts in Buffalo this year.
HigherMe, a Buffalo, N.Y.-based HR solutions company, that raised an additional $400k from 43North in October, has raised additional angel investment from UpVentures, Martin Babinec's investment arm, and other investors.
ICardiac, a Rochester N.Y.-based healthcare services company, was acquired by EResearch Technologies. The company received early stage growth capital from Brian Model and Stonehenge, among other investors.
US Salt, a Watkins Glen, N.Y.-based salt products company, was acquired by Kissner Milling for $225M.
- More than $755 million in economic and community development funding has been awarded through Round VII of the Regional Economic Development Council initiative. Central New York, Mohawk Valley, Capital Region, Mid-Hudson and Long Island Named 'Top Performers', and awarded $425.9M in total funding.
- Genius NY announced the six finalists selected to take part in the second round of one of the world's largest business competitions focused on unmanned systems, cross-connected platforms and other technology-based sectors. The six finalists are Dropcopter, Fotokite, Precision Vision, Quantifly, TruWeather and UsPLM.
- M&T Bank Corporation announced that Chairman and Chief Executive Officer Robert G. Wilmers died suddenly and unexpectedly at home on December 16. He was 83. In accordance with its succession plan, M&T's Board of Directors named lead outside director Robert T. Brady, former Chairman and CEO of Moog. Inc., as M&T's Non-Executive Chairman, effective immediately. M&T's three Vice Chairman, Richard S. Gold, René F. Jones and Kevin J. Pearson, maintain responsibility for the bank's day-to-day operations.
BACC Academy Pitch Day - December 18 - Latham. Celebrate biomedical innovation as Siena College spotlights the Capital Region's newest biomedical entrepreneurs.
Findings from New Angel Research Could Improve Your Investing - January 10 - Webinar. What makes an angel investor successful? That’s one of the many questions answered in The American Angel, an in-depth study of 1,659 angels and how they invest. Hear report authors talk about angel investing today on this ACA Webinar Series.