Each year, Upstate Capital aggregates transaction activity across Upstate NY to highlight the achievements of people and companies. We celebrate the most interesting deals and most active dealmakers at our Annual Awards Celebration. This year’s event will take place at the Harro Ballroom in Rochester on December 6, 2023.
This year, more than 50 companies received nominations. Nominations came from individual submissions and screening deal flow information from the past 12 months. Finalists were selected by the Upstate Capital Board of Directors. The board considered whether the company received a nomination from an individual, ties to Upstate Capital members, impact in the local community and regional economy, and overall contribution to their industry in their deliberations.
Venture Capital Nominees:
The Venture Nominees raised up to $5M in the past 12 months.
- 8B Education Investments: an Ithaca-based provider of financing services intended to offer affordable college financing to exceptional African students attending global universities, raised $3M of venture funding from New York Ventures, Impellent Ventures, and other investors.
- wellconnected: a Buffalo-based developer of a centralized social care platform intended for community care, raised $550,000 of pre-seed funding in a deal led by Launch NY.
- Azuna: a Buffalo-based retailer of plant-based solutions to eliminate odors, mold, and mildew, raised $4M of Series A venture funding.
- LenderLogix: a Buffalo-based developer of a mobile application designed to help mortgage lenders write off loans, raised $500,000 of venture funding from the WNY Impact Investment Fund.
- Ognomy: a Buffalo-based developer of a telemedicine platform designed to offer virtual-home testing, diagnosis, and treatment, raised $1.5M in a deal led by Inspire Medical Systems and included Impellent Ventures and Launch NY.
- OnCore Golf: a Buffalo-based manufacturer of USGA-conforming hollow metal core golf balls, raised $1 million.
- Ponto: an Albany-based eco-conscious footwear company raised over $2.5M of seed funding from gener8tor and other investors.
- Qidni Labs: a Buffalo-based clinical-stage medical device company in the kidney failure space. They are developing the most accessible dialysis technology in the world for millions of patients with kidney failure.
- Zymtronix: an Ithaca-based developer of an enzyme immobilization platform intended to improve the activity, stability, and reusability of an enzyme or combination of enzymes, raised over $3.5M.
Growth Equity Nominees:
The Growth Nominees raised more than $5M in the past 12 months.
- Bestpass: an Albany-based developer of a payment and toll management platform for commercial fleets and vehicles, raised growth capital from Insight Partners, along with nearly $40M of debt financing.
- CleanFiber: a Buffalo, NY-based manufacturer of cellulose insulation using recycled corrugated cardboard, raised over $22M to fund the expansion of the Buffalo facility.
- Dimensional Energy: an Ithaca-based developer of hydrocarbon fuels, raised nearly $20M of venture funding from several top-tier national investors and participation from several NY- based investors including NY Ventures, Chloe Capital, and Launch NY.
- Ecovative: a Green Island-based biomaterials company growing replacements for plastic foams and engineered woods using mushroom technology, raised $15M in a deal led by Viking Global Investors.
- Heretto: a Rochester-based Developer of a component content management system designed to facilitate collaboration and dynamic publishing, raised $17M in a deal led by Grand Oaks Capital.
- Preferabli: a Syracuse-based AI-driven, enterprise software platform in the wine and spirits industry, has raised > $22 million in equity from institutional investors and high net-worth individuals.
- Repair Biotechnologies: a Syracuse-based biotechnology company focused on the reversal of age-associated loss of immune function, raised over $8M of seed funding from Bioverge Ventures, quadraScope Venture Fund, and Healthspan Capital.
- Token Ring: a Rochester-based developer of a biometric-based wearable ring designed to aid users in making payments, powering up a computer, and parting doors, raised $30M from Grand Oaks Capital.
- ZetaGen Therapeutics: a Syracuse-based developer of technology designed to suspend cancer, inhibit pain, and regenerate bone, raised over $9M from New York Ventures and other investors.
Private Equity + M&A Nominees:
These nominations are for private equity and M&A transactions that have occurred in the past year.
- Benefit Resource: a Rochester-based provider of billing administration and specialty account services, was acquired by Millennium Trust Company.
- Dunn Tire: a Buffalo-based tire retailer and AAA-approved automotive service provider with 25 locations in New York and Pennsylvania, was acquired by Discount Tire. Paramax Corporation served as the M&A advisor to Dunn Tire on this transaction.
- Empire Genomics: a Williamsville-based developer of a cytogenetic diagnostic platform, was acquired by Biocare Medical.
- Rochester Midland: a Rochester-based specialty chemicals manufacturer and distributor, was acquired by Peak Rock Capital.
Dealmakers + Ecosystem Career Recognition
The community nominates people who are active in facilitating transactions and providing meaningful support to the innovation and investment ecosystem. This year’s nominees include:
- Rob White, Managing Director at KPMG Corporate Finance
- Jamie Batt, Partner at Rupp Pfalzgraf
- Todd Tidgewell, Partner and Corporate Practice Leader at Nixon Peabody
- Lily Yan Hughes, Chief Legal Officer for multiple Fortune 500 companies, current dean at Syracuse University
- William E. Bond, Sr., Director of Intellectual Property and Technology Transfer at Rochester Institute of Technology
Lifetime Achievement Award:
Anthony Collins, former President of Clarkson University, will be honored with Upstate Capital’s Lifetime Achievement Award in recognition of his outstanding contributions and dedication to innovation, entrepreneurship, and investment in Upstate New York. Read More >>
Join Upstate Capital in Rochester on December 6th, 2023 in Rochester for our Annual Awards Celebration to meet these companies and their founders.