year in review

Big deals: These were the top 5 investment rounds raised by Houston startups in 2022

These five deals were the largest rounds raised by Houston startups, according to InnovationMap. Photo via Getty Images

Editor's note: As 2022 comes to a close, InnovationMap is looking back at the year's top stories in Houston innovation. When it came to the money raised in Houston, these five startups raised the most, according to reporting done by InnovationMap.

Houston unicorn chemicals company raises $200M series D

Solugen closed its series D funding round at $200 million. Photo via Getty Images

Houston-based Solugen has announced its latest round of investment to the tune of $200 million. The company, which reached unicorn status after its $357 million series C round last year, uses its patented Bioforge processes to produce "green" chemicals from bio-based feedstocks.

"Solugen is reimagining the chemistry of everyday life with enzymes found in nature. We make chemicals better, faster, cheaper, and without fossil fuels from right here in Houston, Texas. Whether you care about the climate, local competitiveness, or just plain old profits, we have good news: it's working," the company states in its news release. Read more.

Houston microgrid tech company announces $150 investment

Houston-based VoltaGrid provides small-scale, self-contained microgrids that can operate independently of major power grids or in tandem with other microgrids. Photo via voltagrid.com

VoltaGrid, a Bellaire-based startup that specializes in distributed power generation via microgrids, has hauled in $150 million in equity funding.

Founded in 2020, VoltaGrid provides small-scale, self-contained microgrids that can operate independently of major power grids or in tandem with other microgrids. VoltaGrid’s product consists of natural gas engines, portable energy storage, natural gas processing and grid power connectivity. Read more.

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. Read more.

Houston company closes $76M series C round to fuel its mission of reducing carbon emissions

Syzygy Plasmonics has raised a series C round of funding. Photo courtesy of Syzygy

A Houston-based company that is electrifying chemical manufacturing has closed its largest round of funding to date.

Syzygy Plasmonics closed a $76 million series C financing round led by New York-based Carbon Direct Capital. The round included participation from Aramco Ventures, Chevron Technology Ventures, LOTTE CHEMICAL, and Toyota Ventures. The company's existing investors joining the round included EVOK Innovations, The Engine, Equinor Ventures, Goose Capital, Horizons Ventures, Pan American Energy, and Sumitomo Corporation of Americas. According to a news release, Carbon Direct Capital will join Syzygy's board and serve as the series C director.Read more.

Fast-growing energy fintech startup raises $50M series B

The series B capital will allow the company to enhance its core product, while also adding on other workflows that focus on emissions and renewable energy. Image via combocurve.com

Houston-based ComboCurve announced today that it has raised $50 million through a series B funding round led by Dragoneer Investment Group and Bessemer Venture Partners.

Founded in 2017, the company is a cloud-based energy analytics and operating platform that uses sophisticated software to forecast and report on a company's energy assets, including renewables.

The series B capital will allow the company to enhance its core product, while also adding on other workflows that focus on emissions and renewable energy. Read more.


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Who let the robotic dogs out? AT&T — and a Houston expert explains why in a guest column. Photo via Getty Images

What has 4 legs, can recognize your face, and precisely obey commands on cue? If you guessed a dog, you’re half right.

I’m referring to robotic dogs, a modern marvel of innovative engineering. AT&T recently expanded our solution offers to include network-connected robotic dogs for public safety, defense, federal and state agencies, local police and fire departments, and commercial customers. We do this in collaboration with a leading provider of robotic dogs, Ghost Robotics.

Robotic dogs are just one way we are proving the innovation and transformational possibilities of 5G and IoT. Network-connected robotic dogs can deliver a broad range of IoT use cases, including many that have previously required putting personnel in dangerous situations. Here’s a quick look at some of the fantastic capabilities network-connected robotic dogs deliver.

  • Our robotic dogs can support public safety agencies and organizations on FirstNet – the nation’s only network built with and for America’s first responders. FirstNet delivers always-on prioritized network connectivity for these “first responder” robotic dogs, helping them stay connected during disaster response and recovery, facilities surveillance, and security operations. They can support search and rescue, venture into areas that could imperil human lives, and support the ability to reestablish local communications services following major infrastructure damage.
  • We can integrate Geocast into the robotic dogs to provide Beyond-Visual-Line-of-Sight (BVLOS) operational command and control so that operators of the dogs can be located virtually anywhere in the world and remotely operate them. Geocast is an AT&T innovation covered by 37 patents.
  • The robotic dogs can be equipped with sensors that allow them to operate autonomously without human intervention. They can be outfitted with drones that can launch and return to their backs while in motion, allowing the drones and dogs to perform missions as an integrated team.
  • Rugged terrain? Water? Not a problem. These robotic dogs can move across natural terrain, including sand, rocks, hills, rubble, and human-built environments, like stairs. They can operate fully submerged in water and, like living dogs, can swim.
  • An early use case adopted by the military involves equipping our robotic dogs with wireless network-connected cameras and deploying them to patrol military bases. Robotic dogs we provided to the Air Force at Tyndall Air Force Base in the Florida panhandle are doing just that. Our robotic dogs patrol the flight line and base perimeter at Tyndall, feeding video data in real-time to base personnel who can safely track activity 24/7/365 and support the safety of base operations. They can perform the same task for commercial users, indoors or outdoors. For example, they can patrol the perimeters of large warehouses or outdoor fence lines.
  • They can also support hazmat efforts, inspect mines and high-voltage equipment, and detect explosive devices including improvised explosive devices (IEDs): all while keeping people out of harm’s way.
  • Another interesting use case involves equipping robotic dogs with Long Range Acoustic Devices (LRADs). LRADs are sound cannons that produce noise at high decibels and varying frequencies. We have discussed with the Navy the possibility of outfitting our robotic dogs with sound cannons to warn off wild boars and feral dog packs that have impeded operating crews working on telecommunications infrastructure located in remote areas of one of its bases.

Commercial applications for network-connected robotic dogs are proliferating. Utility companies, for example, are using robotic dogs equipped with video cameras to perform routine equipment inspections in substations. Human inspection requires operators to shut down the facilities during inspections; the robotic dogs eliminate the need to take this precaution. Allied Market Research projects a $13.4 billion global market for the particular use case of robotic dogs performing such inspections.

Our robotic dogs can also be equipped with technology that extends network connectivity into difficult-to-reach areas or mechanical arms that can grip and carry materials such as tools. Their use cases include Pick and Pack capabilities for warehouse operations to improve order fulfillment efficiency.

And this is just the beginning. We’ve said from the outset that the 5G journey of innovation and solution development would evolve to deliver new ways to conquer many challenges.

Now, we’ve let the dogs out.

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Lance Spencer is the Houston-based client executive vice president of defense at AT&T Public Sector.

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