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5 most popular innovation stories in Houston this week

What Houston startups raised money in the second quarter — and other trending Houston innovation news from this week. Photo via Getty Images

Editor's note:Another week has come and gone, and it's time to round up the top headlines from the past few days. Trending Houston tech and startup news on InnovationMap included innovators to know, fresh funding from Houston startups, a guest column with hiring advice, and more.

3 Houston innovators to know this week

This week's roundup of Houston innovators includes Steffie Tomson of Getaway Sticks and Ed Pettitt and Paresh Patel of InnoGrid. Courtesy photos

In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from innovative merchandise to microgrid technology — recently making headlines in Houston innovation. Click here to continue reading.

Here's what Houston startups snagged fresh funding last quarter

These eight Houston companies raised over $140 million in venture capital investment in Q2 of 2022. Photo via Getty Images

Houston startups are keeping pace when it comes to venture capital raised this year. In this roundup of funding closed in the second quarter, Houston businesses across sectors and industries close significant rounds from seed to series B.

Eight startups raised over $140 million last quarter, according to InnovationMap reporting, which is right on par with Q1's numbers. In chronological order, here's what companies snagged fresh funding recently. Click here to continue reading.

TMC-accelerated Houston startup exits to health services giant

ScalaMed, which went through the TMC Accelerator in 2018, has been acquired. Photo via TMC

Healthcare services giant Cardinal Health has acquired Houston-based startup ScalaMed, whose platform transfers prescriptions directly to patients via a secure mobile app. The purchase price wasn’t disclosed.

ScalaMed now falls under the umbrella of a Cardinal-owned company called Outcomes. ScalaMed’s technology will be available throughout Cardinal’s nationwide pharmacy network.

“As healthcare continues to evolve toward patient preferences, the acquisition of ScalaMed allows us to center our connected ecosystem around the patient from the outset of their treatment journey — from the doctor’s office to the pharmacy to home,” Brent Stutz, senior vice president and general manager of Dublin, Ohio-based Outcomes, says in a news release. “Using ScalaMed’s technology, we can better support patients at every step along their treatment journey through unified communication and more informed insights that will help remove access and adherence barriers.” Click here to continue

Houston physical therapist designs medical device to better treat joint injuries

Thermocuff has several patents and expects FDA approval at the end of the year. Image via thermocuff.com

A great idea can strike anytime — and for Sam Sabbahi, his concept cooked up six years ago while defrosting a chicken for his son’s dinner.

Sabbahi, a physical therapist by trade, knew there had to be a better way to heat and cool common joint injuries — elevating the traditional way of using ice or heat packs.

“In the field, we were always getting people coming in trying to get us to purchase different medical devices and we wondered, ‘who knows what we need better than we do?’” he says. “A patient asked me ‘what a cold pack does’ and I was thinking in my head that a cold pack just cools the skin to three millimeters depth.”

Sabbahi then developed and invented a portable convection-based heating and cooling system device that could be used for joint injury rehabilitation – the device, dubbed Thermocuff, works much in the way that an air fryer circulates the air to get an even temperature. Click here to continue reading.

Houston expert: How to scale your startup team quickly and efficiently

Consider these evidence-backed hiring tips before scaling your startup's team. Photo via Getty Images

Startups often use the first rounds of funding to bring in key individuals who will help make the company vision a reality. But hiring the right talent is not an easy task, and ensuring the right team is in place is important now more than ever during the early stages of your company’s growth.

Fortunately, there is a science to employee selection. In fact, there is entire field — Industrial & Organizational Psychology — dedicated to providing professional guidelines, best practices, and over 100 years of evidence to support recommendations into identifying talent an effective, efficient, and equitable manner.

From this field, we know that the first step to hiring in the right talent for your startup is to perform a thorough job analysis. Whether you are bringing in a new CEO, a vice president of sales, or extra hands for your technology platform, gaining consensus among your team about the competencies and attributes required to effectively perform in a new role is critical. Click here to continue reading.

Trending News

Building Houston

 
 

VR training startup, HTX Labs, has raised funding from an outside investor for the first time. Courtesy of HTX Labs

HTX Labs, a Houston-based company that designs extended reality training for military and business purposes, announced last week that it has raised its first outside capital.

The company has received a $3.2 million investment from Cypress Growth Capital. Founded in 2017, HTX Labs — developer of the EMPACT Immersive Learning Platform — has been granted funding from the Department of Defense as well as grown its client base of commercial Enterprises. The platform uses virtual and extended reality that "enables organizations to rapidly create, deploy, measure, and sustain cost-effective, secure, and centralized immersive training programs, all within engaging, fully interactive virtual environments," per a news release.

“We have been looking to secure outside capital to accelerate the growth of our EMPACT platform and customer base but we hadn’t found the right partner who provided an investment vehicle that matched our needs,“ says HTX Labs CEO Scott Schneider in the release. “We found everything we were looking for in Cypress Growth Capital. They have a non-dilutive funding model that aligns with our capital expectations and have the level of experience that really makes this smart money.

"Cypress has a decade-long track record of success in helping emerging software and services companies achieve scale," he continues. "It is clear that the team’s collective entrepreneurial and operating experience will be of tremendous benefit to us as we focus on expanding our customer base in a very intentional way.”

The fresh funding will go toward growing and scaling the company's operations — both within the current Department of Defense and expansion opportunities into key commercial markets, like heavy industry, manufacturing, and higher education. Additionally, the funding will support increased customer adoption.

“Scott and his team have built an exceptional business that is poised for dramatic growth,” says Cypress Partner Pat McCaffrey in the release. “HTX Labs’ modern, immersive training solution provides clients with a force multiplier for modernizing training and an unmatched ROI.”

Trending News