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Houston health tech startup launches game-changing, at-home coronavirus testing

Houston-based Imaware has launched at-home testing that can identify if the patient has — or even had — the coronavirus. Photo via imaware.health

Politicians, scientists, public health officials, and others continue to stress the need for widespread testing to tame the spread of the novel coronavirus.

Houston-based startup Imaware, an at-home health testing platform, recently rolled out an at-home coronavirus test for high-risk people, such as someone with both a fever and recent exposure to someone infected with the virus. Now, it's gearing up to offer an at-home test designed to spot the presence of coronavirus antibodies in your blood.

Experts view antibody testing as a key to corralling the virus and rebooting the virus-crushed U.S. economy. However, some skeptics fear the benefits of antibody testing are being oversold.

As explained by Health.com, a nasal swab test can detect a coronavirus infection. But a blood test can pinpoint whether a person has been exposed to the novel coronavirus, which causes the COVID-19 respiratory illness, and might now be immune to it.

Jani Tuomi, co-founder of Imaware, says his company is working with the U.S. Centers for Disease Control and Prevention (CDC) and U.S. Food and Drug Administration (FDA) on approval of Imaware's antibody test. The in-home blood test might be available as early as May.

"We're still trying to make sure that everything checks out and validation is completed," Tuomi says, "but it looks like it's headed in the right direction."

In early April, the FDA approved the first test in the U.S. to detect coronavirus antibodies.

Tuomi says the process for Imaware's coronavirus antibody test will be similar to the one for the coronavirus detection test. Both tests, for instance, will be administered by licensed clinicians.

Here's how the basic test works.

To request a coronavirus test, someone completes a 10-question assessment at imaware.health. Austin-based startup Wheel, Imaware's telemedicine partner, created the online assessment.

Someone is given the go-ahead for testing if, as determined by a licensed health care professional, he or she falls into certain risk categories. For instance, somebody who's been exposed to a person with coronavirus and is over 60 years old would be approved for a test.

If health insurance covers the test or a patient pays for it entirely out of pocket, the test costs $135. (The home-based antibody test will cost about $120 to $125.) Public health agencies, including the Houston Health Department, can authorize a test for someone who can't afford it.

A trained health care professional goes to a patient's home to collect a test sample (by taking a nasal swab for the coronavirus test or drawing blood for the antibody test). A CDC-authorized lab then tests the sample. If needed, a board-certified health care professional can provide post-diagnosis care.

Results of a coronavirus test typically are available within three days. Tuomi says he hopes the results window for the test can be narrowed to between one and two days by the end of April.

"As a patient-advocate company, we are uniquely poised to be part of the testing shortage solution in Texas," Tuomi says in a March 23 release announcing the Imaware coronavirus swab test. "Our online platform, telemedicine partner, and in-home sample collection empower patients to take control of their health and access COVID-19 testing from the comfort of home."

Founded in 2018, Imaware employs 14 people. Others involved in the testing process, such as in-home testing clinicians and telemedicine experts, work for third-party partners. As the company adds to its testing lineup, Tuomi envisions the workforce rising to around 30 to 40 people by the end of 2020.

Earlier this year, Imaware (whose legal name is Microdrop LLC) had concentrated on home-based remote screening and monitoring for conditions like celiac disease and heart disease. But once it became clear that the coronavirus pandemic would be striking the U.S., the company shifted to coronavirus testing and, now, to antibody testing.

Before Imaware jumped into coronavirus testing, Tuomi performed a swab test on himself and realized that it wasn't feasible for anyone to do self-testing. On top of that, evidence surfaced that self-collection of test samples was producing a lot of false-negative results, he says. Subsequently, the federal government blocked self-testing for the coronavirus.

Today, health care professionals handle Imaware's at-home coronavirus testing and will handle the at-home antibody testing. The testing initially launched in Houston then expanded to the rest of Texas.

Tens of thousands of people have done coronavirus self-assessments through Imaware's online tool, Tuomi says. Far fewer people — in the hundreds — have actually fallen into high-risk categories based on the self-assessments and then have qualified for testing.

Tuomi says that as testing capabilities grow, Imaware will be able to accommodate people who fit into medium-risk coronavirus categories. Also, the company plans to offer its coronavirus test in states that neighbor Texas. Imaware hopes to provide its antibody test throughout the U.S.

In tandem with the public testing, Imaware teamed up with Austin-based energy tech startup RigUp to enable daily coronavirus screening at oil and gas jobsites. Imaware and RigUp are piloting the screening with several RigUp customers; they hope it eventually can be supplied nationwide.

"A cornerstone of the Imaware solution is the patient-centric approach offering superior telemedicine care from diagnosis to recovery," Tuomi says.

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Building Houston

 
 

Here are the Houston startups that together raised over $222 million in venture capital investment last quarter. 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 C.

Eleven startups raised over $222 million last quarter, according to InnovationMap reporting, which is more than in the first and second quarters. In chronological order, here's what companies snagged fresh funding recently.


Houston EV charging tech company raises $6M series A

Revterra Corp. closed a $6 million series A round led by Equinor Ventures. Photo courtesy of Revterra

Houston-based tech company Revterra Corp. has picked up $6 million in a series A funding round to propel development of its battery for electric vehicle charging stations.

Norway’s Equinor Ventures led the round, with participation from Houston-based SCF Ventures. Previously, Revterra raised nearly $500,000 through a combination of angel investments and a National Science Foundation grant.

Revterra says its kinetic flywheel battery enables quick, simple, cost-effective installation of high-powered DC chargers for electric vehicles. The technology eases the burden placed on electrical grids, the company says. Continue reading.

Houston-founded blockchain startup raises $15M series A to increase international impact

Topl's latest fundraising round includes participation from a Houston investor as well as international partners. Image via Getty Images

A blockchain technology company that was founded out of Rice University has closed its latest round of funding.

Founded in 2017, Topl is a blockchain-as-a-service company that's developing a purpose-built blockchain ecosystem to empower impact and sustainability within its userbase of businesses. The company's $15 million series A round was co-led by Houston-based Mercury, Republic Asia, and Malta-based Cryptology Asset Group.

“Topl’s blockchain was purpose built to power the next wave of supply chains and markets, that are more sustainable and inclusive,” says Chris Georgen, founder and managing director of Topl, in a news release. “Every decision we’ve made has been relentlessly focused on this problem and it’s exciting to see this approach yielding results with more than 30 different impact-forward use cases already live or approaching launch." Continue reading.

Houston-based gig economy startup raises $1.2M, launches beta platform

Madison Long, left, and Simone May co-founded Clutch to democratize side gig success on college campuses. Photo courtesy of Clutch

Two Houstonians on a mission to enable safe and equitable entrepreneurship on college campuses have launched a new beta platform and closed pre-seed funding.

Clutch, a digital marketplace startup founded by Simone May and Madison Long, closed its pre-seed round of funding at $1.2 million – led by Precursor Ventures and other partners such as Capital Factory and HearstLab. The investment from this round will support Clutch’s national open beta launch of its platform for brands and student creators nationwide and its continued investment in customer and product strategy.

“We are at this inflection point where marketing is changing,” May says in a press release. “We know that the next generation can clearly see that and I think a lot of marketing agencies are starting to catch on. We need to be prioritizing the next generation’s opinion because they are driving who is interested in what they buy. This upcoming generation does not want to be sold to and they don’t like inorganic, inauthentic advertisements. That’s why user generated content is so big, it feels authentic.” Continue reading.

Houston hydrogen startup closes $25M series B

This hydrogen company has fresh funding. Photo via utility.global

Utility Global, a Houston-based sustainable hydrogen company, has closed its series B round of funding to the tune of $25 million, Axios reports.

Houston-based private equity firm Ara Partners led the round. Other participating investors included: Samsung Ventures, NOVA, and Aramco.

Utility Global, founded in 2018, has developed a clean hydrogen solution. The proprietary tech — called the eXERO Technology Platform — includes a zero electricity process that converts sustainable waste streams into high-purity hydrogen. Additionally, the company developed its H2Gen Product Line that delivers customers reliable, low carbon, and high purity hydrogen, which offers unparalleled feedstock flexibility and highly competitive economics. Continue reading.

Industrial blockchain tech company headquartered in Houston closes $4M series C round

Houston-based Data Gumbo, an industrial blockchain-software-as-a-service company, announced that its latest round or funding. Photo courtesy of Data Gumbo

Data Gumbo, a Houston-based tech startup, has picked up $4 million in a series C round from the venture capital arms of foreign energy companies Saudi Aramco and Equinor.

The funding for Data Gumbo came from Saudi Aramco Energy Ventures, the VC subsidiary of government-owned oil and natural gas giant Saudi Aramco, and Equinor Technology Ventures, the VC subsidiary of Norwegian energy operator Equinor. The U.S. headquarters for both Saudi Aramco and Equinor are in Houston. Continue reading.

Houston company raises $138M for next-generation geothermal energy

The future of geothermal energy is here — and just got a big payday. Photo via Getty Images

Houston-based startup Fervo Energy has picked up $138 million in funding to propel its creation and operation of carbon-free power plants fueled by geothermal energy.

Fervos says the series C round will help it complete power plants in Nevada and Utah and evaluate new projects in California, Idaho, Oregon, Colorado, and New Mexico, as well as in other countries.

California-based investment firm DCVC led the round, with participation from six new investors. Continue reading.

Houston 'sneakerheads' raise $8.9M to further develop digital marketplace

Tradeblock's three co-founders have known each other since childhood. Photo via tradeblock.us

A Houston-based company is kicking it with some fresh funding with plans to expand development of its marketplace platform.

Unique sneaker trading platform, Tradeblock, has raised $8.9 million in funding from investment partners Courtside VC, Trinity Ventures, and Concrete Rose Capital. Per the news release, the company expects additional funding of around $4.5 million to its seed round.

Tradeblock — founded in 2020 by self-proclaimed "sneakerheads" and childhood friends Mbiyimoh Ghogomu, Tony Malveaux, and Darren Smith — will use the fresh funding to expand and improve its digital marketplace for shoes. Continue reading.

Health tech startup with Houston HQ raises $14M series A

Optellum, which has its United States operations based in the TMC Innovation Institute, has raised fresh funding. Photo via Getty Images

A Oxford-based health tech startup that has its United States headquarters in Houston has announced the close of its series A round of funding.

Optellum, which has created a breakthrough AI platform to diagnose and treat early-stage lung cancer, has raised $14 million in a series A funding round. The round was led by United Kingdom-based Mercia, with additional investors California-based Intuitive Ventures and New York-based Black Opal Ventures. Existing investors, including St John's College in the University of Oxford, IQ Capital, and the family office of Sir Martin & Lady Audrey Wood, also participated in the round, per a news release.

"Lung cancer is an urgent public health crisis and Optellum's groundbreaking approach utilizing AI to accelerate early detection and intervention may fundamentally alter the healthcare community's approach to combating this disease," says Dr. Oliver Keown, managing director of Intuitive Ventures, in the release. "Optellum is uniquely positioned to align and provide considerable value to patients, providers, and payers alike. Intuitive Ventures is thrilled to provide our full arsenal of financial and strategic support to Optellum as we work towards a world of better outcomes for cancer patients." Continue reading.

Houston-based biomaterials company raises $1.1M to grow team, build new HQ

BUCHA BIO has raised over $1 million to grow its team, build a new headquarters, and accelerate its go-to-market strategy. Image courtesy of BUCHA BIO

A Houston company that has created a plant-based material that can replace unsustainable conventional leathers and plastics has announced the close of its oversubscribed seed funding round.

BUCHA BIO announced it's raised $1.1 million in seed funding. The round included participation from existing partners New Climate Ventures, Lifely VC, and Beni VC, as well as from new partners Prithvi VC, Asymmetry VC, and investors from the Glasswall Syndicate, including Alwyn Capital, as well as Chris Zarou, CEO & Founder of Visionary Music Group and manager of multi-platinum Grammy-nominated rapper, Logic, the startup reports in a news release.

“I’m excited to back BUCHA BIO’s amazing early market traction," Zarou says in the release. "Their next-gen bio-based materials are game-changing, and their goals align with my personal vision for a more sustainable future within the entertainment industry and beyond.” Continue reading.

Houston-based Codenotary has expanded its series B fundraising round

Codenotary's software enables tools for notarization and verification of the software development life cycle. Photo via Getty Images

A Houston software startup that raised $12.5 million earlier this year has announced additional funding of $6 million. Codenotary, whose technology helps secure software supply chains, closed its series B round in January. The fresh funding brings the company's total investment raised to $24 million — thanks to investors Bluwat and Elaia.leaders and following a series A round that was announced in 2020.

Codenotary, formerly known as vChain, was founded in 2018 by CEO Moshe Bar and CTO Dennis Zimmer. The additional capital, which will go towards scaling up sales in the U.S. and Europe as well as entering the Asian market, was raised as an extension of the series B round. Continue reading.

Houston-based virtual reality startup raises $3.2M in first outside capital round

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. Continue reading.

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