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3 Houston startups to compete in Rice University's Veterans Business Battle

Three Houston companies will pitch in Rice University's competition for veteran-owned startups. Courtesy of Rice University

Rice University will soon play host to its 2019 Veterans Business Battle, where 20 veteran-owned companies — three of which are from Houston — will pitch their business models and compete for prize money and investment offers.

On April 12, the 20 semifinalists will pitch to a panel of investors, who will choose the top five. Those finalists will pitch the next ay, April 13, in hopes of taking home some of the awards.

"We are very excited about the great group of companies that are coming to Houston next month," says event co-chairman Asad Akram in a release. "It's our goal to introduce them to a network that can help their businesses grow and succeed."

The Houston-based companies competing are Amor Oral, Welcome Connect and FeedMe Fitness, according to a release from Rice University. Amor Oral specializes in the manufacturing and sale of edible, organic personal lubricants. The company's lubricants are all water-based, and Amor Oral claims to offer the largest selection of flavored personal lubricants in the U.S.

FeedMe Fitness, another Houston competitor, is a subscription service that offers customized workouts and meal plans to its subscribers. Welcome Connect is a real estate platform that connects real estate agents with prospective buyers.

More than $3 million has been invested in veteran-owned businesses since the competition's launch in 2015. All the competitors are ultimately after the same thing: investments that will help them launch or expand. The competitor pool includes newly launched ventures and owner-operated businesses, per the Rice release, and all semifinalists can potentially receive investment offers.

A handful of competitors are from Texas. Those competitors include the Dallas-based companies And I Like It and City Gym, Floresville-based Harvard Telemedicine, Fort Worth-based Harvest Returns, Wimberly-based Power Polymer, Corpus Christ-based Rock N Roe Aquaponics, and Bryan-based Zanbazan.

The remaining competitors from around the U.S. are:

  • Gotta Have It Fan Foams, from Springfield, Virginia
  • Family Proud, from San Diego
  • High Country Air Service, from Albuquerque, New Mexico
  • Knifehand Nutrition, from Syracuse, New York
  • Maco, from New York
  • Off Duty Blue, from Syracuse, New York
  • Randian, from Los Angeles
  • Reimbi, from Portland, Oregon
  • Safe Stamp, from Nashville
  • SEE ID, from Newcastle, Washington

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Building Houston

 
 

Data Gumbo, founded and led by Andrew Bruce, has announced its latest funding. Photo courtesy of Data Gumbo

A Houston-based tech company has announced another round of funding to support its blockchain network growth as well as to establish a presence in the Middle East.

Data Gumbo has closed its series B funding round totaling $7.7 million with follow-on investments led by Equinor Ventures. The round includes participation from Saudi Aramco Energy Ventures and Bay Area and Houston-based venture firm L37. The round's first close was announced in September 2020 at $4 million. The additional funds to close the Series B will be used to scale Data Gumbo to serve demand for GumboNet™ and GumboNet™ ESG. Additionally, Data Gumbo plans to establish a presence in the Middle East to cover expected demand growth in the region.

"The successful close of our series B is continued proof of the efficacy and booming interest in our ability to capture critical cost savings, deliver trust and provide transparency across commercial relationships," says Andrew Bruce, founder and CEO of Data Gumbo, in a news release. "Compounded by the growing demand for transparent, accurate sustainability data and the launch of our automated ESG measurement solution, GumboNet™ ESG, Data Gumbo's trajectory is well-positioned to serve our growing customer base by ensuring economic productivity and value. This infusion of capital will support our expansion efforts as we bring more international users to our network."

With this latest raise, Data Gumbo's total funding raised to date is $18.4 million.

"Data Gumbo's success is marked by a wide variety of business use cases and opportunities for expansion," says Bruce Niven, chief investment officer at Aramco Ventures, in the release. "Our continued investment is a testament to our continued support as the company attracts new customers, experiences further demand for its network and gains traction in new markets."

The company's technology features smart contract automation and execution, which reduces contract leakage, frees up working capital, enables real-time cash and financial management, and delivers provenance with unprecedented speed, accuracy, visibility and transparency, per the release.

"Data Gumbo is the market leader for smart contracts backed by blockchain, and the coming year will be a period of exponential growth for the company as they penetrate new industrial markets," says Kemal Farid, partner at L37, in the release. "We believe strongly that GumboNet will become the de facto network for smart contracts across industries for capturing value and solving enormous pain points in contractual relations. Additionally, as companies move to meet increasing sustainability measurement demands and ESG improvements, there is a huge growth path available for Data Gumbo with the launch of GumboNet ESG."

Earlier this year, the company announced its environmental, social and corporate governance tracking and reporting tool.

"Equinor's recent pilot at the Johan Sverdrup field has demonstrated that GumboNet can create strong value for the partnership," says Gareth Burns, head of Equinor Ventures, in the release. "Our follow-on investment confirms Equinor Ventures' confidence in Data Gumbo's solution for our company and the broader energy industry."

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