Q1 2025 Investment Report
Welcome to the Q1 2025 installment of startup investment activity in the Southern Tier region of New York.
Entrepreneurs in our region continue to demonstrate creativity in their fundraising. This quarter, we saw founders securing capital through a diverse mix of sources, including awards from the Department of Energy and the Farm Bureau, as well as investments from domestic and international backers, both new and returning.
Exostellar remains a company to watch. From their early days translating Cornell research into a startup through the Interior Northeast I-Corps Regional Program to their recent $10.8M raise, they have come a long way. Their investors represent the wide variety of investments typical of the region, including Prosperity7, AI Capital Partners, Cambium Capital Management, Candou Ventures, Celesta Capital, Gaingels, and SanTuri Ventures.
Thank you for providing these leads and for your support of entrepreneurs in our region. We encourage you to reach out to us through our contact page with any tips, corrections, or comments, including colleagues you’d like us to add to our mailing list. Your input is invaluable!
Best regards,
Brad Treat
Program Director, Southern Tier Startup Alliance
Investment in the Southern Tier will be distributed on a quarterly basis to highlight the significant startup investment activity in the Southern Tier. Note: while some information is made publicly available in real time, certain fundraising activities may be reported later, leading to potential fluctuations beyond the reporting timeframe. $20,000 is the threshold for determining which funding events to include.
Acquisitions
- Ag-Analytics, headquartered in Ithaca, reached a definitive agreement to be acquired by CoStar Group for an undisclosed amount in February 2025. Read more about Ag-Analytics’s acquision here.
Competitions
- Labby*, headquartered in Rochester, won $25,000 as the runner-up in the 2025 Farm Bureau Ag Innovation Challenge. Read more about Labby’s winnings here.
Total: $25,000
Grants
- Serida, headquartered in Ithaca, received a $50,000 grant from U.S. Department of Energy in January 2025. Read more about Serida’s grant.
Total: $50,000
Investments
- Ascribe, headquartered in Ithaca, raised $2,150,000 of venture funding from Source Agriculture and ICIG Ventures in January 2025. Read more about Ascribe’s funding here.
- Bridge Green Upcycle, headquartered in Binghamton, raised an undisclosed amount of venture funding from Launch NY in March 2025. Read more about Bridge Green Upcycle here.
- Exostellar, headquartered in Ithaca, raised $10,800,000 of Series A venture funding in a deal led by Prosperity7 Ventures in February 2025. Read more about Exostellar’s funding here.
- GradeWiz, headquartered in Ithaca, joined startup accelerator Y Combinator and received $500,000 in funding in the form of SAFE notes in January 2025. Read more about GradeWiz’s funding here.
- REEgen, headquartered in Ithaca, raised $150,000 of venture funding from Safar Partners and Cornell University in January 2025. Read more about REEgen’s funding here.
- SimpliFed, headquartered in Ithaca, raised $4,000,000 of funding in a round led by Morningside in February 2025. Read more about SimpliFed’s funding here.
Total: $17,600,000
Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR)
- Gallox Semiconductors, headquartered in Ithaca, was awarded a Phase I STTR grant totaling $305,000 through the U.S. National Science Foundation in January 2025. Read more about Gallox Semiconductor’s grant here.
- Pinwheel Solar LLC, headquartered in Binghamton, was awarded a Phase I STTR grant totaling $275,000 through the National Science Foundation in March 2025. Read more about Pinwheel Solar LLC’s grant here.
- SensVita, headquartered in Ithaca, was awarded a Phase I STTR grant totaling $305,000 through the National Science Foundation in February 2025. Read more about SensVita’s grant here.
Total: $885,000
*Note: Companies marked with an asterisk (*) may not be headquartered in the region, but they operate in and contribute to job creation in the Southern Tier.
Investment in the Southern Tier will be distributed on a quarterly basis to highlight the significant startup investment activity in the Southern Tier. Note: while some information is made publicly available in real time, certain fundraising activities may be reported later, leading to potential fluctuations beyond the reporting timeframe. $20,000 is the threshold for determining which funding events to include.