Andluca Receives $400,000 in Funding from NextCorps Luminate

Andluca Technologies was selected for $400,000 in follow-on funding from Empire State Development via the Luminate NY accelerator program. This additional investment was announced during the Luminate Finals 2021 event, which was held virtually and sponsored by Optica. Andluca received the Outstanding Graduate Award, finishing 2nd overall in the program. Andluca was previously named one of ten finalists — out of 126 applicants — earning a $100,000 initial investment and access to the 6-month intensive programming administered by NextCorps.

The Luminate NY program is the world’s largest business accelerator for emerging companies focused on optics, photonics, and imaging (OPI) technologies. This program is funded through the Finger Lakes Forward Upstate Revitalization Initiatives – the region’s comprehensive strategy to revitalize communities and grow the economy in Upstate New York. New York state governor Kathy Hochul said of the investments, "Luminate NY's investments reflect our commitment to retaining New York's distinction as a worldwide leader in optics, photonics, and imaging.” She continued, "our state is a national leader in the nation for commercializing intellectual property in OPI, and these winning companies will further contribute to the growth of the Finger Lakes' OPI industry and move the region's economy forward."

Awards and investments were decided upon by a panel of judges from the OPI industry and venture capital community. Companies gave their final business pitches to the judges in the week prior, after sharpening their businesses during the program. Dr. Sujatha Ramanujan, Managing Director, Luminate NY, said, "Luminate NY is bringing companies from around the world to the Finger Lakes Region so that they can tap into the rich resources we have available to further their businesses and technologies.  This ecosystem supports their desire to establish a U.S. presence and their goal of becoming global players in the industries they serve."

The Luminate program has helped Andluca determine and outline their commercialization and manufacturing strategy moving forward. This follow-on funding will allow Andluca to more deeply engage with Rochester research and manufacturing resources via a local presence. Those resources in Rochester are rich in both physical and human capital. Funding from Empire State Development means this program and prize more closely aligns Andluca with NY state resources like low-interest financing for capital projects, tax abatement programs, grants, and more.

These resources will accelerate Andluca’s strategy for bringing their wireless smart glass system to the New York state market. New York state, and more specifically New York City, are ripe for technologies that reduce carbon emissions in the built environment. Building emissions targets, like those enforced via Local Law 97 in NYC, will urge building owners to make energy efficiency upgrades and reduce the associated carbon footprint from operations. Andluca has identified New York City as its beachhead market and looks forward to helping contribute to meeting carbon emissions reductions targets in the city and state.

About Andluca Technologies, Inc.:

Andluca, a Princeton University spin-out, has developed UV-solar-powered smart glass for improving the energy efficiency of buildings. Andluca’s patented technologies can reduce building energy use by up to 40% while significantly enhancing occupant comfort and productivity. Unlike available wired smart glass products – which require major renovation and installation by an electrician – Andluca’s wireless smart glass can be installed quickly and non-disruptively.  Learn more about Andluca here: https://andluca.com/

Accelerating Finger Lakes Forward

Today's announcement complements "Finger Lakes Forward," the region's comprehensive blueprint to generate robust economic growth and community development. Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. The State's $500 million investment will incentivize private business to invest well over $2.5 billion - and the region's plan, as submitted, projects up to 8,200 new jobs. More information is available here.

About Empire State Development

Empire State Development (ESD) is New York's chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing the New York State Regional Economic Development Councils and the marketing of "I LOVE NY," the State's iconic tourism brand. For more information on Regional Councils and Empire State Development, please visit https://regionalcouncils.ny.gov.