An Ithaca–based venture-capital fund has joined with the Rochester manager of another venture-capital fund to invest in StormBlok Systems, Inc.
StormBlok Systems, based in the town of Macedon, east of Rochester, is the developer of a protection system that shields commercial signs, storefronts, ATMs, gasoline pumps, and windows from hurricane damage. The system uses an aluminum-and-fiberglass frame with high-strength fabric to reduce wind loads by between 60 percent and 90 percent. It also provides a water-resistant impact barrier.
StormBlok Systems is receiving an equity investment of an undisclosed size from Cayuga Venture Fund and Excell Partners Inc. Cayuga Venture Fund, based in Ithaca, focuses on high-tech startup companies in Ithaca and upstate New York. Excell Partners, which was formed through a partnership between the University of Rochester and the State of New York, provides seed-stage financing to high-tech startup companies across upstate New York.
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“Excell was motivated to invest in StormBlok because of its unique technology as well as its talented management team,” Excell Partners COO Rami Katz said in a news release. “Founder Parr Wiegel is an experienced inventor, entrepreneur, and business owner with a successful track record. With this combination of technology and management, StormBlok is positioned to grow and bring manufacturing jobs to the upstate region.”
Contact Seltzer at rseltzer@cnybj.com
