money moves

Houston-based digital marketplace for industrial equipment raises $5.5 million series A

Houston-based Hitched has dug up new investment money from a local private equity firm. Pexels

A Houston startup that acts as a digital marketplace for industrial equipment in the oil and gas and construction industries closed a sizeable series A financing round this month.

Hitched Inc. raised $5.5 million in its series A funding led by Houston-based Cottonwood Venture Partners, a growth equity firm that focuses on digital tech solutions in the energy industry.

"It is encouraging to see the support and excitement from CVP," Hitched's Founder and CEO Adam Gilles says in a press release. "With this Series A funding, we plan to continue to shake things up in the oil & gas, construction, and industrial industries."

The company, which was founded in 2018, coordinates the rentals — from hosting and chartering to managing them — all on one centralized platform. Hitched has a catalogue of equipment from generators and cranes to light towers, pumps to forklifts, and the site lists out the cost per day of each piece of machinery.

According to the release, Hitched will use the fresh funds to advance its product development and customer experience as it continues "to reinvent the industrial rental marketplace."

"We're delighted to partner with the Hitched team. The industrial rental segment is incredibly opaque and riddled with inefficiencies," says Ryan Gurney, managing partner of CVP, in the news release. "The Hitched platform provides both a transparent marketplace and an important management tool that allows both the renter and rentee to optimize rental inventory."

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Building Houston

 
 

Here's your one-stop shop for innovation events in Houston for December. Photo via Getty Images

Houstonians have yet another good batch of in-person and online innovation events, and you and your tech network need to know about them.

Here's a roundup of virtual events not to miss this December — like pitch nights, workshops, conventions, and more.

Note: This post might be updated to add more events.


December 1 — 2022-2023 UH Energy Symposium Series

The Division of Energy and Innovation, along with the UH Center for Carbon Management in Energy, are hosting a day-long symposium to discuss pathways and solutions to make Texas carbon neutral by 2050. UH experts and energy industry partners will serve as panelists to discuss the drivers, opportunities, and challenges for change, and more.

The event is on Thursday, December 1, from 9 am to 7 pm, at University of Houston (Houston Room - University of Houston Student Center South). Click here to register.

December 5 — Pumps & Pipes: Ion to Infinity

Highlighting innovations in Web3, Artificial Intelligence, Extended Reality, and Robotics, attendees will hear from visionaries across medicine, energy, and aerospace who are developing and launching technologies in these fields.

The event is on Monday, December 5, from 8 am to 3 pm at The Ion. Click here to register.

December 6 — Softeq Venture Studio Demo Day

The Softeq Venture Studio's 2H 2022 cohort is the largest yet with 22 member companies, which brings the total portfolio to 49 companies. This cohort includes entrepreneurs from several global locations as diverse as the United Kingdom, Iceland, Mexico, and Peru. In this capstone event, founders have three minutes each to present their pitch deck, demo their product, outline their ask, and answer questions.

The event is on Tuesday, December 6, from 8 am to 3 pm at The Ion. Click here to register.

December 7 — Houston Veterans In Residence Showcase

Bunker Labs’ Veterans in Residence Showcase is a nationwide event, celebrating over 500 veteran and military spouse entrepreneurs launching their startups and businesses.

The event is on Wednesday, December 7, from 6 to 8 pm at Sesh Coworking. Click here to register.

December 8 — 8th Annual SWPDC Symposium on Pediatric Device Innovation and Business Meeting:

The 8th Annual SWPDC Symposium on Pediatric Device Innovation and Business Meeting will feature the keynote presentation "Non-Dilutive Federal Funding for Pediatric Device Startups" by Michael Heffernan, Director of Research & Technology at Fannin Innovation Studio.

The event is on Thursday, December 8, from 4 to 7 pm, at the Queensbury Theatre. Click here to register.

December 8 — HAN Holiday Party

Join the Houston Angel Network for their annual party.

The event is on Thursday, December 8, from 6 to 8 pm, at Postino City Centre. Click here to register.

December 10 — TXRX Holiday Make-a-thon

Get your festive fun on by participating in one of our hands-on workshops. Learn more about how we make through our live demos.

The event is on Saturday, December 10, from 3 to 6 pm, at TXRX. Click here to register.

December 13 — Future of the Houston Region

The reimagined Future of the Houston Region event features one of the fastest-growing areas in the Houston region - Montgomery County. Conversations will be focused on the county’s rapid growth, business developments within the area, future plans of expansion and its overall importance to the region.

The event is on Tuesday, December 13, from 10:30 am to 1:30 pm at The Woodlands Waterway Marriott. Click here to register.

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