Houston health cos. sweep at competition, startups announce new deals, and more innovation news
It's been a busy season for the Houston innovation ecosystem, and for this reason, local startup and tech news may have fallen through some of the cracks.
In this roundup of short stories within Houston innovation, a consumer packaged goods startup is now on shelves across Texas, a Texas energy company gets fresh funding from Houston VCs, Texas Medical Center Innovation companies sweep at a recent competition, and more.
Houston health care startups sweep recent competition
Houston-based Starling Medical took home the top prize at a recent competition. Photo courtesy of TNVC
At the 2021 Texas A&M New Ventures Competition, several Houston companies claimed top prizes — essentially sweeping the competition. The top three winners were all member companies of Texas Medical Center Innovation:
- First Place Finalist: Houston-based Starling Medical – $50,000
- Second Place Finalist: Houston-based Ictero Medical – $35,000
- Third Place Finalist: Koda Health – $25,000
- Fourth Place Finalist: Microsilicon – $15,000
- Sixth Place Finalist: CodeWalker – $5,000
- Elevator Pitch First Place: EmGenysis – $5,000
- Elevator Pitch Fourth Place: TYBR Health – $1,00
Houston CPG company scores Central Market placement
Central Market now carries this Houston startup's baked goods. Photo courtesy of ChipMonk Baking
As of this month, Central Market shoppers in Texas can purchase Houston-based ChipMonk Baking products products. Additionally, the company announced it has added added 1,100 square feet to its existing 2,300 square-foot facility.
Founded by David Downing and Jose Hernandez, ChipMonk Baking, is a local, mail-order bakery that makes cookies, brownie bites, and other snacks using monk fruit and allulose, a low-calorie (0.4 calories per gram) rare sugar that's found naturally in foods such as raisins, dried figs, and kiwi.
The nine open Central Market locations throughout Texas will carry all nine flavors of ChipMonk's Keto Cookie Bites.
"Here in Houston, ChipMonk is the healthy option — there is nothing else like our products being made in a city that's known around the world for food," says Downing in a press release. "When you consider Houston's diversity and international culinary reputation, the lack of local health-food representation and production just doesn't make sense. We love this city and are working to change that."
Houston Methodist doles out $2.5 million in grants
Houston Methodist has contributed a couple million dollars to Houston nonprofits. Courtesy of Methodist Hospital/Facebook
Houston Methodist announced a couple weeks ago that it has awarded nearly $2.5 million in community grant investment to 37 Houston-area nonprofit organizations, according to a news release from the health care organization.
Over 177 Houston nonprofits applied for the Houston Methodist Diversity, Equity & Inclusion Grant Program, a program created last year to address the social determinants of health that lead to health inequities within racial, ethnic and social minorities.
"We continuously strive to build and maintain a diverse, equitable and inclusive environment both within our hospital walls and within our communities," says Arianne Dowdell, vice-president, chief diversity, equity and inclusion officer at Houston Methodist, in the release. "The grant program and all the deserving organizations awarded funds are critical in shaping our community, which Houston Methodist has proudly supported for decades. We look forward to fostering the growth and development of meaningful programs that will benefit underserved and underrepresented groups in Houston."
The program, which includes both DEI Grants and Social Equity Grants, is funded by a $25 million fund established by Houston Methodist to be doled out over five years to support underserved communities.
Innovative energy company receives funding from Houston venture capital
Houston-based Cottonwood Venture Partners and Chevron Technology Ventures have again invested in this Austin-area energy company. Photo courtesy of Getty Images
Two Houston venture capital groups recently went in on Round Rock, Texas-based Infinitum Electric's $40 million series C funding round. Houston-based Cottonwood Technology Fund and Chevron Technology Ventures — both existing investors for the company — doubled down on their support in the new round led by San Francisco-based Energy Innovation Capital.
The fresh funds will allow the company to scale production of its ultra-high-efficiency, lightweight motors and "expand production of the company's IEs Series motors for commercial and industrial applications and complete development of its IEm Series motors for the rapidly growing electric vehicle market," according to the company's news release.
"We're excited to ramp production of our motors after seeing significant demand in the commercial HVAC and industrial markets, as well as the growing interest from electric vehicle suppliers who see the potential a highly efficient, lightweight motor can deliver," says Ben Schuler, founder and CEO of Infinitum Electric, in the news release. "Partnering with Energy Innovation Capital, Rockwell Automation and our existing investors allows us to scale and power machines more efficiently and sustainably."
Houston nanotechnology startup scores distribution deal
Houston-based NanoTech, currently housed in Halliburton Labs, has a new distribution agreement. Photo via halliburtonlabs.com
NanoTech has announced a new distribution agreement with Warrior Ace Hardware, a supplier of specialty products for the commercial and residential building industries. NanoTech uses material science to create NanoShield, a fire-proofing and insulation product.
The new partnership offers a key opportunity for NanoTech, which recently closed a $5 million round of funding.
"Ace Hardware has close to 100 years of distribution and retail experience. We are excited to partner with such a respected brand to get us one step closer to saving a tremendous amount of lives, protecting infrastructure, and reducing energy consumption," says Mike Francis, CEO of NanoTech in a news release.