Cutting-edge technologies and solutions in UAS and uncrewed systems, artificial intelligence and machine learning, and edge and quantum computing, are being built in Upstate NY.
Air & Space Startups to Watch
This list highlights the cutting-edge innovation happening in Upstate New York in Unmanned Aircraft Systems, Artificial Intelligence (AI) and Machine Learning (ML), edge and quantum computing, and their applications.
- Valuations for the companies on this list grew over 10x from $6.1M to $64.5M in the past 5 years
- The companies on this list employ 251 people, up 15x from 17 employees in 2019
- The companies on this list raised $21.385M since 2017.
Resources for Startups:
Griffiss Institute: Griffiss Institute is a nonprofit talent and technology accelerator for the United States Department of Defense and an international network of academic, government and industry partners. Since 2002, the Griffiss Institute has served the Air Force Research Laboratory Information Directorate, the Mohawk Valley region, and the United States, empowering diverse teams with talent and technology development programs that lead the nation in technical and economic impact.
NSIN, the National Security Innovation Network: The National Security Innovation Network is an unrivaled problem-solving network in the U.S. Department of Defense that adapts to the emerging needs of those who serve in the defense of our national security. We are dedicated to the work of bringing together defense, academic and entrepreneurial innovators to solve national security problems in new ways.
Local Critical Infrastructure:
SkyDome: SkyDome is one of the the country’s largest indoor/outdoor UAS research and testing facilities.
Orion: Orion is an open architecture, cloud-hosted ecosystem that is specifically designed to produce sustainable non-proprietary solutions that employ the latest technologies to solve real-world problems for the Internet of Things (IoT)
Quantum Labs: Quantum Labs Specialized labs for experimentation in quantum communications.
The Tech Garden: The Tech Garden is Central New York’s hub for tech entrepreneurs to find a full range of incubation services needed to achieve their venture goals.
M&A Activity in Aerospace:
June 2024: Booz Allen Hamilton acquired PAR Government Systems Corporation. The acquisition will combine PGSC’s edge technologies with Booz Allen’s deep mission expertise and digital battlespace solutions to accelerate and transform warfighter technology on the front lines. PAR Technology Corporation is headquartered at the Griffiss Institute in Rome, NY.
April 2024: Robinson Helicopter Company, a global leader in civilian rotorcraft, acquired Ascent AeroSystems. Ascent participated in the first cohort of the GENIUS NY program and was awarded $600,000 for placing second during the 2017 event finals.
November 2022: FarmX, Inc. announced the acquisition of AutoModality, Inc., a mobile robotics navigation software company, based in San Rafael, CA and Syracuse, NY. AutoModality was the 2017 GENIUS NY Grand Prize Winner of $1M.
VC Activity:
ZeroMark: Raised $7M in seed funding in May 2024
ZeroMark is a NYC-based defense technology startup. The funding round was led by Ground Up Ventures and included New York Ventures.
Ursa Space Systems: Raised $6.2M in late VC in March 2024.
Ursa Space Systems is an Ithaca-based provider of satellite-derived intelligence.
TruWeather Solutions: Raised $6.5M Series A in June 2023.
TruWeather is a global leader in providing comprehensive low-altitude weather solutions to improve safety and efficiency in the scaling drone and air taxi industries.
Investor Spotlights:
Accelerators:
The HUSTLE Defense Accelerator Program is designed to empower tech startups pioneering advancements in artificial intelligence, machine learning, cybersecurity, quantum science, and uncrewed aircraft systems.
GENIUS NY is a startup accelerator sponsored by Empire State Development that invests $3M annually into seed-stage startups focused on uncrewed aerial systems, automation, and advanced air mobility.
Venture Capital:
Decisive Point: NYC-based Decisive Point is a venture capital firm investing in deep-tech innovations for security, health, energy, and infrastructure. Our mission is to support the people solving tomorrow’s toughest challenges. We amplify outcomes by pairing thoughtful capital allocation with expertise in public R&D funding and navigating the federal market.
Corporate VC:
Lockheed Martin Ventures: Lockheed Martin Ventures makes strategic investments in companies that are developing cutting-edge technologies in core businesses and new markets important to Lockheed Martin. More than a source of capital, Lockheed Martin Ventures provides portfolio companies with access to our world-class engineering talent, state-of-the-art technologies, and research and access to the company’s international business relationships and supply chain.
Learn More:
Upstate Capital is highlighting innovation in the air and space industry in Upstate New York at the Future of Air & Space on August 14 in Rome, NY. This event brings together professionals from established companies, investors, and dealmakers with entrepreneurs. Register >>
In-depth company research & analysis is provided by Invest NY, a data platform mapping the innovation and investment ecosystem across New York State. Visit >>