A venture capital firm led by B. Thomas Golisano has made another major invesment into a Buffalo startup.
This time, Grand Oaks Capital contributed $29 million Series B round for Virdi Parente Inc., whic was founded by CEO Jon Williams and is sited in the former American Axle factory on Delevan Avenue.
Viridi Parente is the parent company of two interrelated businesses, including:
- Colta Energy, which uses lithium-ion battery cells to build clean power systems for various uses.
- Green Machine Equipment, an equipment contractor that operates mostly as a research project to explore making electric equipment.
The Series B round also includes contributions from Impact Capital of New York, Varia Ventures and the Western New York Impact Investment Fund, along with other private investors. Last year the company raised $4 million at a $12 million valuation. The new round places its post-money valuation at $80 million.
From the Buffalo Business First: find the remainder of the article here
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