HOUSTON INNOVATORS PODCAST EPISODE 23

Former founder wants to make Houston a major femtech hub

In this week's episode of the Houston Innovators Podcast, Brittany Barreto discusses her passion for femtech domination as well as expert info for founders looking to get involved with Capital Factory. Photo courtesy of Brittany Barreto

Brittany Barreto has had a rollercoaster of a year. She went from a startup founder in her second round of funding to sitting on the other side of that fundraising table.

Barreto, who is the venture associate at Capital Factory, has a Ph.D in genetics and founded the first nationwide DNA-based dating app called Pheramor. Last year, she had to close down the business due to changes in Apple's App Store's rules. Now that she's shifted from founder to helping founders, she's realized Houston needs more former-founder mentors like herself.

"I actually think Houston needs to figure out how to capitalize on these recycled founders and how to get them in more mentorship and leadership positions," Barreto says on this week's episode of the Houston Innovators Podcast. "We're in Houston, Texas, and the second question out of everyone's mouths is, 'How can I help you?'"

But that willingness to help only takes mentorship so far for founders who can learn a lot from people who've been in their exact position.

While she wants to see more of these types of mentors emerging in Houston, she also wants to see more of something else: Femtech. These types of startups focus on technology that improves the health and wellness of women, and Houston is poised to be a great hub for femtech — mainly because, well, nowhere else is yet.

Femtech has a lot of potential for investors and success because it's creating technology that's an aspirin and not a vitamin, Barreto says. People won't necessarily pay for and take vitamins, but when they need that aspirin, they'll pay what they can for it.

"Whenever I hear about new femtech companies, I think, 'why doesn't this exist yet?'" Barreto says. "That's why I'm really passionate about FemTech, because it's not something that's just nice to have."

Houston has several female-focused organizations that have emerged lately, but the next steps for the city as it develops as a hub for femtech is to establish a femtech-focused accelerator program and venture fund.

Barreto shares her thoughts on Houston, plus explains what makes Capital Factory different from other organizations in Houston. She also gives her advice on pitchdecks and how she's looking to better connect the dots between entrepreneurs and startup development organizations on the podcast. Listen to the full episode below — or wherever you get your podcasts — and subscribe for weekly episodes.

Trending News

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."

Trending News