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. 

Grants 

Q1 

• Clean Label Solutions, headquartered in Ithaca, received a $50,000 grant from the Ontario Grain Innovation Fund in February 2025. Read more about Clean Label Solution’s grant. 

• KLAW Industries, headquartered in Binghamton, received a $500,000 grant from U.S. Environmental Protection Agency in January 2025. Read more about KLAW Industries’ grant. 

• Photon Counting Systems, headquartered in Ithaca, received a $1,650,000 grant from U.S. Department of Energy in January 2025. Read more about Photon Counting System’s grant. 

• Serida, headquartered in Ithaca, received a $50,000 grant from U.S. Department of Energy in January 2025. Read more about Serida’s grant. 

Q2 

• Forage Evolution, headquartered in Ithaca, received a $100,000 grant from Defense Advanced Research Projects Agency in May 2025. Read more about Forage Evolution’s funding here. 

• Indian Milk & Honey, headquartered in Freeville, received a $150,000 grant from The Northeast Dairy Business Innovation Center in June 2025. Read more about Indian Milk & Honey’s grant. 

• LiBAMA Power, headquartered in Binghamton, received a $25,000 grant from ChargeUp Accelerator in April 2025. Read more about LiBAMA’s grant. 

• LiBAMA Power, headquartered in Binghamton, received a $100,000 grant from the Upstate New York Energy Storage Engine in April 2025. Read more about LiBAMA’s grant. 

Q3 

• Anova Biomedical, headquartered in Ithaca, received $298,000 of grant funding from National Institute of Diabetes and Digestive and Kidney Diseases on July 1, 2025. Read more about Anova Biomedical’s grant. 

• Gallox Semiconductors, headquartered in Ithaca, joined Activate Global as a part of its Activate Fellowship program on August 19, 2025, and received a total of $200,000 in funding. Read more about Gallox’s fellowship. 

• Natrion, headquartered in Binghamton, received a $1,300,000 grant from New York Power Authority on July 29, 2025. Learn more about Natrion’s grant. 

• Persista Bio, headquartered in Ithaca, received a $2,100,000 grant from the National Institute of Diabetes and Digestive and Kidney Diseases on September 23, 2025. Read more about Persista Bio’s grant.  

• RETRN Bio, headquartered in Ithaca, joined Activate Global as a part of its Activate Fellowship program on August 19, 2025, and received a total of $200,000 in funding. Read more about RETRN Bio’s fellowship. 

Q4 

• CryoBio, headquartered in Ithaca, received an $80,000 grant from FuzeHub as part of its Commercialization Competition in October 2025. Read more about CryoBio’s grant here. 

• IVSonance, headquartered in Ithaca, received a $60,000 grant from FuzeHub as part of its Commercialization Competition in October 2025. Read more about IVSonance’s grant here. 

• REEgen, headquartered in Ithaca, received a $150,000 grant from FuzeHub as part of its Commercialization Competition in October 2025. Read more about REEgen’s grant here. 

Total: $7,013,400 

Investments 

Q1 

• 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. 

• Caretech Human, headquartered in Ithaca, raised $500,000 of pre-seed funding in a round led by undisclosed investors in January 2025. Read more about Caretech Human’s funding 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 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. 

Q2 

• Carbon Upcycling, headquartered in Ithaca, raised $18,000,000 of funding in a deal led by Builders Vision in May 2025. Read more about Carbon Upcycling’s funding here. 

• *Clearleaf, headquartered in San Jose, raised $3,500,000 of funding in a deal led by Hawthorne Food Ventures in May 2025. Read more about Clearleaf’s funding here. 

• Forage Evolution, headquartered in Ithaca, raised $300,000 of funding in a deal led by SOSV and IndieBio in April 2025. Read more about Forage Evolution’s funding here. 

• *Hempitecture, headquartered in Jerome, ID, raised $6,175,175 of equity crowdfunding via WeFunder in May 2025. Read more about Hempitecture’s funding here. 

• SimpliFed, headquartered in Ithaca, raised $10,830,000 of funding in a deal led by Morningside Group and The Venture Collective in May 2025. Read more about SimpliFed’s funding here. 

Q3 

• Conamix, headquartered in Ithaca, raised $2,000,000 of venture funding from undisclosed investors on July 25, 2025. Learn more about Conamix’s funding here. 

• Natrion, headquartered in Binghamton, raised $1,500,000 of Series 2 seed funding from LG Technology Ventures and New York Ventures in approximately August 2025. Learn more about Natrion’s funding here. 

• RETRN Bio, headquartered in Ithaca, raised an estimated $1,000,000 of pre-seed funding from Launch NY and other undisclosed investors in September 2025. Read more about RETRN Bio’s funding here. 

• Ursa Space, headquartered in Ithaca, raised an undisclosed amount of venture funding from Sumitomo Corporation of Americas on August 20, 2025. The transaction was supported by $5,000,000 of debt financing. Learn more about Ursa Space’s funding here.  

Q4 

• Ascribe, headquartered in Ithaca, raised $12,000,000 of Series A funding in a round led by Corveta and Acre Venture Partners in October 2025. Read more about Ascribe’s funding here. 

• Platform Golf, headquartered in Binghamton, received $5,000,000 of venture funding in a round led by CircleRock Capital in December 2025. Read more about Platform Golf’s funding. 

Total: $77,255,175

Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) 

Note: These are federal programs that provide non-dilutive seed funding to startup companies for early-stage product development. Read more about SBIR and STTR grants. 

Q1 

• 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. 

Q2 

• Ultinat, headquartered in Ithaca, was awarded a Phase I STTR grant totaling $305,000 from the U.S. National Science Foundation in January 2025. Read more about Ultinat’s grant here. 

Q3 

• Heat Inverse, headquartered in Ithaca, received an additional $500,000 from the National Science Foundation to supplement their SBIR Phase II award on September 15, 2025. Read more about Heat Inverse’s grant here. 

• REEgen, headquartered in Ithaca, received $1,110,000 of grant funding from U. S. National Science Foundation as part of its Phase II on September 4, 2025. Read more about REEgen’s grant here.  

Q4 

• IVSonance, headquartered in Ithaca, was awarded a Phase I SBIR grant totaling $305,000 from the U.S. National Science Foundation in October 2025. Read more about IVSonance’s grant here. 

Total: $3,105,000 

Acquisitions 

Q1 

• 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. 

Q2 

• N/A 

Q3 

• FOSAI, headquartered in Ithaca, was acquired by Pasteur Labs for an undisclosed amount on August 21, 2025. Read more about the acquisition of FOSAI. 

Q4 

• N/A 

Competitions 

Note: The Grow-NY Competition prizewinners may not be headquartered in the region, but as a condition of the prize money, they commit to making a positive impact in the growing startup hub located in New York state’s Finger Lakes, Central NY, and Southern Tier regions. Learn more about Grow-NY. 

Q1 

• 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. 

Q2-Q3 

• N/A 

Q4 

• Brekland, headquartered in Brooklyn, received $1,000,000 from Grow-NY in November 2025. Read more about Brekland’s grant here.  

• Living Ink Technologies*, headquartered in Berthoud, CO, received $250,000 from Grow-NY in November 2025. Read more about Living Ink Technologies’ grant here. 

• Mothership Materials, headquartered in New York, received $500,000 from Grow-NY in November 2025. Read more about Mothership Materials’ grant here. 

• Seen Nutrition, headquartered in Ithaca, received $500,000 from Grow-NY in November 2025. Read more about Seen Nutrition’s grant here. 

• Trebe Biotech*, headquartered in Pergamino, Argentina, received $250,000 from Grow-NY in November 2025. Read more about Trebe Biotech’s grant here. 

• Whipnotic, headquartered in New York, received $250,000 from Grow-NY in November 2025. Read more about Whipnotic’s grant here. 

• ZILA BioWorks*, headquartered in Renton, WA, received $250,000 from Grow-NY in November 2025. Read more about Zila Bioworks’ grant here. 

Total: $3,025,000 

*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.