Q1 2025 Investment Report
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.