SDBIC, a Cornerstone portfolio company, announced today it established a toll-free number to provide advice and guidance to box holders whose property has been damaged or destroyed by flood waters.
Homeowners coping with rebuilding or repairing their flooded homes must also deal with having their treasured valuables and important papers in their safe deposit box damaged or even destroyed.
SDBIC is the leader in providing secure storage solutions and one of the largest insurers of assets held in safe deposit boxes in North America. Working with financial institutions and individual insureds across the country, SDBIC is changing the banking industry’s’ approach to safe deposit box service and the scope of protection provided to their customers. http://www.sdbic.com
Front Range Biosciences, an agricultural biotech company that specializes in high-value crops such as cannabis, has raised $3 million in funding.
The funding will go to scaling the company’s processes and an expansion into California and other states where cannabis use is legal. The company currently operates out of Colorado.
Front Range Bioscience uses tissue culture cloning to solve for degradation of plants over cycles of harvests, which include disease, mold, pesticides, pests, etc. By “cleansing” the clones, the company will be addressing what Cornerstone sees as the most pervasive issue in the legalized cannabis industry that will affect growers in the future – strong downward pressure on wholesale flower prices amidst increasing competitive pressures. Increased legalization in new states, expansion of programs in existing states, and international legalization and decriminalization, sets up a scenario for dramatically increased manufacturing capacity and as such, wholesale margins will be a big concern for producers. Michael Gruber states that efficient cost producers will win, and Front Range will be one of the companies providing critical tools to enable a cultivator’s success.
The company is also mapping cannabis genetics to develop relevant traits in plants like disease resistance and high yields of oil and resin.
Endotronix, a Cornerstone portfolio company and maker of cloud-enabled tools that help patients with advanced heart failure, announced earlier in the year that it had raised $12 million in debt financing from Silicon Valley Bank.
The company raised a $32 million Series C round last July. That round was raised to fund a safety and feasibility study for its implantable, cloud-connected sensor for heart patients, and to help Endotronix commercialize its cloud-based software solution that lets healthcare providers monitor patients’ conditions after they leave the hospital.
Members of Cornerstone Angels have been early investors in Robinhood, and where the company has recently just raised $110MM in an investment led by DST Global at a $1.3B valuation.
Robinhood has achieved amazing growth in the last few years since Cornerstone’s initial investment. The company reports that it has close to 2 million users already. The company aims to make it easy for anyone to buy and trade stocks.
Cornerstone’s portfolio company Algal Scientific has recently been acquired by a strategic investor in March 2017. The company used a proprietary process and specially selected strains of algae to produce high value compounds used for animal and human health.
Cornerstone had made the investment through its Cornerstone Opportunity Partners, LLC entity.
Intellihot, Fourkites and Page Vault, three of Cornerstone’s portfolio companies have been named on ChicagoInno’s 50 on fire list. Below is the link to the full list –
Madison Magazine has selected EatStreet as one of the city’s 25 best places to work as part of its annual survey released this month. See link below for details –
From crazy combos to critically important news that finally puts the ranch vs. bleu cheese debate to rest, EatStreet’s kicking off college with data science that really matters: Students’ back-to-school ordering habits. See link below for more details –
Cornerstone (COP) portfolio company Eatstreet recently closed $15 million in a Series C financing round. The investment was co-led by 4490 Ventures and Lumia Capital, with participation from Cornerstone (COP), GCI Capital, MATH Venture Partners, and the State of Wisconsin Investment Board. Below is a link to the press release –
EatStreet Secures $15 Million Series C Investment Following Record-Breaking Year
See link below to article about EatStreet on Forbes.com.