Short stories

Houston software company raises $16.3 million, TMCx opens applications, and more innovation news

TMCx is looking for members for its ninth cohort. Courtesy of TMCx

From rounds closing to accelerator applications opening, there's a lot of Houston innovation news that might not have reached your radar. Here's a roundup of short stories within tech and innovation in the Bayou City.

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Houston software company closes a $16.3 million Series A

Industrial software

Innovapptive raised its round lead by a New York-based firm. Getty Images

Innovapptive, a software-as-a-service company with clients in industrial industries, announced it closed on a $16.3 million Series A investment led by New york-based Tiger Global Management LLC. The company will use the funds for continued global growth. As of the raise's completion, company's valuation is now more than $65 million.

"We are connecting the enterprise by providing a platform that improves real-time data collaboration and communications between the field and back office. The communications and collaboration data are captured and converted into executive insights for continuous workforce optimization," says Sundeep Ravande, CEO and co-founder of Innovapptive, in a press release. "This additional capital will allow us to accelerate our strategy and development to transform the digital experience of the industrial worker to help increase revenues and margins for our customers."

TMCx opens its medical device cohort applications

The deadline to apply for the next TMCx cohort is May 24. Courtesy of TMC

The Texas Medical Center has announced that TMCx's 2019 medical device cohort applications are now open. The deadline to apply is May 24, and selected companies will be notified by June 21. The program will run from August 5 to November 8th. For more information, click here.

Nesh closes Seed round of funding

Aristos Ventures lead the round for the Houston energy startup. Courtesy of Nesh

The Siri of oil and gas, Hello Nesh Inc, has raised its first round of funding thanks to seed funding from Aristos Ventures and a LOOP contract with Equinor Technology Ventures. The funding will be used for new hires and expansion plans.

"Securing LOOP funding from ETV and seed funding from Aristos provides us with a unique mix of strategic knowledge and domain expertise, coupled with investment experience in digital technologies, artificial intelligence, and SaaS," says co-founder and CEO of Nesh, Sidd Gupta in a release. "This will enable us to further build Nesh's petrotechnical and natural language understanding and scale our business in the North America market."

ETV has chosen not to disclose the dollar amount of the round, however last fall Gupta at the Texas Digital Summit, Gupta announced that the company was seeking to close a $800,000 seed round. Read more about the company here.

Shell Oil Co. gives $2.5M to fund research, inform public policy at Rice University’s Baker Institute

Shell and Rice University have entered a partnership. Courtesy of Rice University

Following a $2.5 million commitment from Shell Oil Co., the Center for Energy Studies at Rice University's Baker Institute for Public Policy has announced five-year research program to study the global energy system — including the policies, regulations, geopolitical forces, market developments and technologies.

"We are grateful for Shell's commitment to advancing the study of critical energy issues affecting our region, the nation and the world," says Baker Institute Director Edward Djerejian in a release. "This partnership with Shell furthers our mission to provide unbiased, data-driven analysis of factors that will shape our energy future with the aim of engaging policymakers, corporate leaders and the general public with the results."

Texas improves its ranking as an innovative state

The Lone Star State is moving on up as an innovative state. Getty Images

Texas is slowly but surely moving on up as an innovative state. According to Bloomberg's newest U.S. State Innovation Index, Texas is the 17th best state for innovation. The study factors in six metrics: research and development intensity, productivity, clusters of companies in technology, "STEM" jobs, populous with degrees in science and engineering disciplines, and patent activity. Last year, the study found Texas at the No. 19 spot.

Texas' score was 60.1 — which is just over a point's difference from being in the top 15. It's also worth noting that the Lone Star State is the highest ranked in the south.

"What is most important is the construction and catalyzation of super vibrant advanced industry sectors and clusters in a state," says Mark Muro, a senior fellow at Brookings, a think tank in Washington DC, to Bloomberg. "Commercialization has not been a top priority of universities in the heartland, especially in the South."

Houston companies take home Napier Rice Launch Challenge prizes

Abbey Donnell's startup, Work & Mother, won the award for the Best Alumni team at the H. Albert Napier Rice Launch Challenge at Rice University. Courtesy of Work & Mother

On April 4, 10 teams competed in the H. Albert Napier Rice Launch Challenge at Rice University. Here are the Rice University alumni- and student-led companies that won awards.

  • LilySpec took home $2,500 as the Audience Favorite award winner.
  • CardStock Exchange won $12,500 in the Best Undergraduate category.
  • WellWorth walked away with $12,500 as the Best Graduate team winner.
  • Abbey Donnell, founder of Work & Mother, took home first place the Best Alumni category — along with $12,500.
  • UrinControl was the Grand Prize winner and scored $20,000.

BBL reverse pitch contest extends deadline

The deadline for a new pitch competition with ExxonMobil and BBL Ventures has been extended. Getty Images

BBL Ventures, which announced its reverse pitch competition with ExxonMobil earlier this year, has extended the challenge deadline to May 13.

"BBL Ventures is excited to be working with a forward-thinking partner like ExxonMobil, engaging the external innovation ecosystem is a key step in advancing the energy industry's continued success," says Patrick Lewis, managing partner of BBL Ventures, in a release. Full details for the competition are available here.

Startup Grind Houston is calling all female founders

pitch

Calling all female founders. Getty Images

Houston's Startup Grind chapter announced a female founder pitch event on May 2 at the TMC Innovation Institute. The organization is calling for teams to pitch at the event. The deadline to apply is April 23 at 5 pm.

Click here to nominate yourself or someone else for the pitch.

Sysco invites UH tech students to first-ever UHacks Hackathon competition

Sysco and AWS are teaming up for a hackathon. Getty Images

Houston-based Sysco Corp. — along with Amazon Web Services — is hosting its first-ever, university student-led hackathon event. The one-day competition takes place on Friday, April 19, from 8 am to 5 pm at the new Houston office of AWS ( 825 Town & Country Lane, 10th floor).

The student teams with focus on four hypothetical themes in Sysco's business landscape, including a spend management platform enhancing the customer shopping experience, identifying locally grown foods, proof of purchase technology, and a "best before" portal to streamline expiration data.

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Building Houston

 
 

This week's roundup of Houston innovators includes Thomas Vassiliades of BiVACOR, Katie Mehnert of ALLY Energy, and Don Whaley of OhmConnect Texas. Courtesy photos

Editor's note: In this week's roundup of Houston innovators to know — the first of this new year — I'm introducing you to three local innovators across industries — from health care innovation to energy — recently making headlines in Houston innovation.


Thomas Vassiliades, CEO of BiVACOR

BiVACOR named Thomas Vassiliades as CEO effective immediately. Photo courtesy of BiVACOR

Thomas Vassiliades has been named CEO of BiVACOR, and he replaces the company's founder, Daniel Timms, in the position. BiVACOR is on track to head toward human clinical trials and commercialization, and Vassiliades is tasked with leading the way.

Vassiliades has over 30 years of experience within the medical device industry as well as cardiothoracic surgery. He was most recently the general manager of the surgery and heart failure business at Abiomed and held several leadership roles at Medtronic. Dr. Vassiliades received his MD from the University of North Carolina, and his MBA was achieved with distinction at Emory University.

“I am excited and honored to join the BiVACOR team, working closely with Daniel and the entire team as we look forward to bringing this life-changing technology to the market,” says Dr. Vassiliades in the release. “Throughout my career, I’ve been guided by the goal of bringing innovative cardiovascular therapies to the market to improve patient care and outcomes – providing solutions for those that don’t have one. BiVACOR is uniquely well-positioned to provide long-term therapy for patients with severe biventricular heart failure.” Click here to read more.

Katie Mehnert, CEO and founder of ALLY Energy

Katie Mehnert joins the Houston Innovators Podcast to discuss the future of energy amid a pandemic, climate change, the Great Resignation, and more. Photo via Katie Mehnert

Katie Mehnert started ALLY Energy — originally founded as Pink Petro — to move forward DEI initiatives, and she says she started with building an audience first and foremost, but now the technology part of the platform has fallen into place too. Last summer, ALLY Energy acquired Clean Energy Social, which meant doubling its community while also onboarding new technology. On the episode, Mehnert reveals that this new website and platform is now up and running.

"We launched the integrated product a few weeks back," Mehnert says. "The whole goal was to move away from technology that wasn't serving us."

Now, moving into the new year, Mehnert is building the team the company needs. She says she hopes to grow ALLY from two employees to 10 by the end of the year and is looking for personnel within customer support, product developers, and sales and service. While ALLY is revenue generating, she also hopes to fundraise to further support scaling. Click here to read more.

Don Whaley, president at OhmConnect Texas

Texas is about a month away from the anniversary of Winter Storm Uri — would the state fair better if it saw a repeat in 2022? Photo courtesy

The state of Texas is about a month away from the one year anniversary of Winter Storm Uri — but is the state better prepared this winter season? Don Whaley, president at OhmConnect Texas, looked at where the state is now versus then in a guest column for InnovationMap.

"Governor Abbott has gone on record guaranteeing that the lights will stay on this winter, and I am inclined to agree. With the reinforcement of our fuel systems being mandated by the Railroad Commission, 2023 to 2025 should receive the same guarantee," he writes. "Beyond that, as the demand for electricity in Texas continues to grow, we will need to rely on the initiatives under consideration by the PUCT to attract investment and innovation in new, dispatchable generation and flexible demand solutions to ensure long-term stability in the ERCOT market.

Whaley has worked for over 40 years in the natural gas, electricity, and renewables industries, with specific experience in deregulated markets across the U.S. and Canada. He founded Direct Energy Texas and served as its president during the early years of deregulation. Click here to read more.

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