Empire State Development

Empire State Development (ESD) serves as New York's primary economic development agency, established in 1995 and headquartered in New York City. Its mission focuses on fostering business investment and growth to stimulate job creation and enhance community prosperity throughout the state. ESD operates as the umbrella organization for the New York State Urban Development Corporation and the Job Development Authority, coordinating various initiatives to support economic development. The agency's investments and projects are overseen by a board of directors, ensuring alignment with its goals of promoting sustainable economic growth in New York.

Momo Bi

Partner, New York Ventures

19 past transactions

SimpliFed

Seed Round in 2025
SimpliFed is a telehealth company founded in 2020 that focuses on providing virtual breastfeeding support to new and expectant parents. It addresses the challenges faced by these individuals, such as sleep deprivation and concerns about infant nutrition. SimpliFed offers a maternal care platform that delivers virtual-first care throughout the peri and postnatal periods. The company specializes in lactation and baby feeding support, as well as monitoring high-risk conditions like hypertension and gestational diabetes. By engaging with patients early, SimpliFed’s care navigators facilitate a comprehensive maternal care experience, allowing parents to receive timely answers to their questions about infant feeding through secure online and video connections.

Rochester Technology and Manufacturing Association

Grant in 2024
The Rochester Technology and Manufacturing Association (RTMA) fosters manufacturing innovation and growth. By collaborating with businesses, academia, and government, RTMA helps the local manufacturing community.

Daystar Kids

Grant in 2024
Daystar Kids is a nonprofit organization that provides therapeutic, educational enrichment, and family support services.

RochesterWorks

Grant in 2024
RochesterWorks is Monroe County's largest employment and training initiative, focused on developing a robust workforce in the Rochester, NY region. It offers a range of free services to job seekers, youth, and businesses through its two full-service Career Centers located on North Goodman Street and Waring Road. RochesterWorks assists businesses with various aspects of the employment process, including recruitment, assessment, placement, and training. Additionally, it connects businesses to federally-funded employment and training programs, providing valuable support that helps to streamline hiring processes and reduce costs. By fostering collaboration between job seekers and employers, RochesterWorks plays a crucial role in enhancing the local labor market.

FuzeHub

Grant in 2024
FuzeHub is a not-for-profit organization that provides assistance to small- to medium-sized manufacturing companies. They offer support in areas such as technology commercialization, workforce development, and supply chain optimization. By connecting companies with resources, expertise, and funding opportunities, FuzeHub aims to help these businesses grow and thrive in the competitive manufacturing industry. Through their network of industry experts and partnerships, FuzeHub serves as a valuable resource for manufacturers looking to innovate, improve productivity, and stay ahead of market trends.

Envisagenics

Series B in 2024
Envisagenics, Inc. is a bioinformatics company founded in 2013 and headquartered in Huntington, New York. The company specializes in RNA therapeutics and aims to simplify complex biomedical data to expedite the development of innovative therapeutic solutions. Envisagenics leverages its advanced analytics platform, SpliceCore, which utilizes artificial intelligence and machine learning to analyze RNA sequencing data. This cloud-based platform enables researchers to identify splicing errors linked to various diseases, including genetic disorders and cancers, and to discover potential drug targets and biomarkers. By streamlining the drug discovery process through computational simulations, Envisagenics significantly reduces the time, cost, and risks associated with drug development, thereby facilitating partnerships with biopharmaceutical companies to advance RNA-based therapies.

FIFCO

Grant in 2024
FIFCO renders brewing, packaging, importing, marketing and selling services.

WISE Women’s Business Center

Grant in 2024
WISE Women’s Business Center provide comprehensive business training and counseling.

Dimensional Energy

Series A in 2023
Dimensional Energy is a chemistry company focused on advancing artificial photosynthesis to create environmentally sustainable polymers and chemical intermediates. The company specializes in developing hydrocarbon fuels by effectively harnessing and distributing sunlight through scalable reactor systems. By utilizing innovative, functionalized catalysts, Dimensional Energy's technology enhances the reactivity of carbon dioxide molecules, facilitating their capture and conversion into energy. This approach not only aims to provide viable solar fuels but also supports clients in addressing critical energy requirements while promoting environmental responsibility.

Mohawk Valley EDGE

Grant in 2023
Mohawk Valley EDGE is a nonprofit economic development agency located in Rome, New York. It plays a crucial role in fostering economic growth within Oneida County by facilitating business expansion and attracting new industries. The agency collaborates with public and private sectors to enhance opportunities for local businesses, providing a coordinated program aimed at supporting their development. Managed by a board of members, Mohawk Valley EDGE focuses on creating an environment conducive to business growth, thereby contributing to the region's overall economic vitality.

Stark Truss Company

Grant in 2023
Stark Truss Company is a building materials company that manufactures roof and floor trusses.

Wcny

Grant in 2023
WCNY is Central New York’s public broadcasting company, providing great local and national programming, high-quality educational television.

Deerfield Capital

Grant in 2023
Deerfield Management, established in 1994 and headquartered in New York, is a healthcare-focused investment management firm. It provides long-term structured investments in both public and private healthcare companies, spanning life science, medical device, diagnostic, digital health, and health service industries. The firm also offers information and investment services to foster a healthcare ecosystem.

Applied DNA Sciences

Grant in 2023
Applied DNA Sciences, Inc. is a biotechnology company specializing in DNA-based technology solutions for various applications, including diagnostics, drug development, supply chain security, and anti-counterfeiting. The company operates through three main segments: Therapeutic DNA Production Services, MDx Testing Services, and DNA Tagging and Security Products and Services. Its offerings include SigNature molecular tags for product authentication and supply chain protection, SigNify portable DNA readers for real-time tag verification, and CertainT Supply Chain Platform for validating product claims. Additionally, Applied DNA Sciences manufactures COVID-19 PCR-based diagnostic test kits and provides non-diagnostic pooled surveillance testing. Established in 1983 and headquartered in Stony Brook, New York, the company was formerly known as Datalink Systems, Inc. and rebranded in 2002.

LIDROTEC

Grant in 2022
Lidrotec is a company focused on enhancing manufacturing processes through the use of ultra-short pulse lasers. It specializes in developing wafer dicing laser machines that enable high-precision cutting, drilling, and structuring of various materials. By leveraging ultrashort pulse processing technology, Lidrotec aims to improve production efficiency and speed in the semiconductor industry while maintaining maximum precision. The company's innovative approach seeks to expand the application potential of laser processing, positioning it as a key player in the advancement of manufacturing technologies.

LocalCoho

Grant in 2022
LocalCoho is a farm-to-table fish company based in Auburn, NY, that specializes in providing sustainably sourced local seafood. Founded in 2016, the company focuses on delivering high-quality salmon that is produced from non-GMO, certified organic eggs and responsibly raised practices. The salmon offered by LocalCoho is characterized by its rich, reddish-orange meat and healthy oil content, making it a flavorful and versatile option for customers seeking sustainable seafood alternatives.

Magnolia NeuroSciences

Series A in 2018
Magnolia Neurosciences Corporation is a New York-based company focused on drug discovery and development, specifically targeting neuroprotective therapies for central nervous system diseases and neurodegeneration. Established in 2018, the company aims to create proprietary small molecule therapeutics that prevent neuronal cell death, offering new treatment options for patients with neurodegenerative disorders and related conditions. Magnolia Neurosciences was founded to advance technologies developed at The University of Texas MD Anderson Cancer Center’s Therapeutics Discovery Division and the Neurodegeneration Consortium. Through its innovative approach, the company seeks to address significant medical needs in the field of neurology.

Lodo Therapeutics

Series A in 2016
Lodo Therapeutics Corporation is a drug discovery and development company dedicated to creating novel therapeutics derived from natural sources. It focuses on addressing significant health challenges, particularly resistant infectious diseases and cancers, by collaborating with global pharmaceutical companies and leading non-governmental organizations. Founded to realize the scientific vision of Dr. Sean Brady from Rockefeller University, Lodo Therapeutics utilizes a genome-based, culture-independent platform to discover and characterize small molecules sourced from environmental microbial DNA. This innovative approach leverages advancements in DNA sequencing and bioinformatics to explore the untapped potential of microbial evolution, aiming to identify therapeutically valuable pharmaceutical products. Headquartered in New York City at the Alexandria Center for Life Science, Lodo Therapeutics is committed to harnessing the power of nature in the fight against undruggable targets and high unmet medical needs.

Petra Pharma

Series A in 2016
Petra Pharma Corporation is a clinical-stage pharmaceutical company based in New York, focused on discovering and developing innovative therapies that modulate phosphoinositide (PI) signaling pathways for the treatment of cancer and metabolic diseases. Founded in 2015, the company targets novel enzyme pathways that play crucial roles in various cellular processes, such as cell division, growth, trafficking, and signaling. By developing small molecules aimed at these processes, Petra Pharma seeks to create impactful therapeutic options that enhance patient care and improve health outcomes.
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