iSTARTHUB POSITIONS COLDBLOCK TECHNOLOGIES FOR GLOBAL GROWTH WITH A $250,000 INVESTMENT THROUGH ITS CANADIAN ACCELERATOR PROGRAM
TORONTO, CANADA (March 2, 2020) – As part of its strategy to provide valuation building resources to Canadian startups, istarthub announces a $250,000 (CDN) investment in ColdBlock Technologies Inc. to expedite global growth. ColdBlock Technologies’ innovative, patented sample digestion technology shortens the sample digestion process to just minutes with reliable and precise results for multiple industries and a variety of sample types. istarthub is a division of CBA, a US-based group that runs startup acceleration programs based on industries, markets and special themes.
“We had been tracking the growth trajectory of ColdBlock since we first met them in 2018 and are thoroughly impressed by the incredible traction gained since,” said Ashwin Sanzgiri, Program Director, istarthub Acceleration programs. “We expect that the investment will play a key role in accelerating ColdBlock’s growth and elevating its business to the next stage of maturity. The capital infusion is the first amongst several strategic resources planned through the program.”
ColdBlock’s proven technology is available in multiple platforms that can be incorporated into virtually any standard wet-chem laboratory setting. ColdBlock sample digesters can be scaled up and used in multiple configurations to prepare samples much quicker and more cost-effectively than traditional methods. Headquartered in St. Catharines, Ontario, the company services industries such as Mining & Metals, Environmental, Food, Agriculture and Pharmaceuticals. ColdBlock has successfully achieved CE Mark certification for its products in the EU and Australian markets and to date has sold its sample digestion technology to more than 13 countries worldwide. It is currently growing its distributor and sales agent model to expand ColdBlock’s global market presence. The company had previously raised more than CA$2M through its founders, various angel groups and family offices across Canada.
“The istarthub Acceleration program has had a positive impact on ColdBlock in a very short period of time,” said Nick Kuryluk, CEO, ColdBlock Technologies Inc. “This investment is part of a broader raise to lay the groundwork for our next generation technology and to continue our global market expansion. We are thrilled to collaborate with Ashwin Sanzgiri and the istarthub Acceleration program.”
About ColdBlock Technologies Inc.
ColdBlock Technologies was founded in 2014 to develop, test, and bring to market their innovative sample digestion technology, ColdBlock Digestion. Since that time, the company has collaborated with government, academia, and industry to demonstrate their innovative solution while elevating the efficiency, productivity and safety of sample digestion.
istarthub Accelerators – powered by CBA accept applications on an on-going basis from high potential startups across industries such as but not limited to ICT, Manufacturing, F&B and Agriculture, Life Sciences, FinTech & InsurTech, CleanTech, Media & Gaming amongst others. The key objective of the istarthub acceleration programs is to provide valuation building resources to participating startups including Access to Growth Capital, Support on Sales Channel Development and Access to relevant Mentors during the 12 month program.
istarthub Acceleration Program
Ashwin Sanzgiri, Program Director