winners revealed

Rice University student startups win $65,000 in competition

The annual H. Albert Napier Rice Launch Challenge awarded equity-free cash prizes to three impressive student startups. Photo courtesy of Rice University

A Rice University startup competition concluded with a big win for a company started by students trying to use tech to help prevent veteran suicide.

The startup, rutd: resources united. technology driven., a secure platform that can deliver more than 14,000 mental health resources to veterans, won first prize at the virtually held H. Albert Napier Rice Launch Challenge last week. The prize included a $27,500 check.

Seven other Rice-affiliated startups pitched for judges at the event for a shot at equity-free seed funding. The program is a part of Rice's Liu Idea Lab for Innovation and Entrepreneurship, or Lilie.

"With the biggest and most diverse field of competitors in the history of the competition, it shows that at Rice and Lilie, you don't have to choose between being a student and working on your startup. We empower you to do both," says Kyle Judah, executive director of Lilie, in a press release. "These founders took advantage of all our resources and opportunities — which is why they had million-dollar partnerships and tens of thousands of users at competition time."

Second place went to Green Room, a startup that aims to provide tools — like payments and tax compliance — for Houstonians in the live music industry. The Green Room team won $20,000.

In third place was A440, a company focused on "bringing the creator economy to classical music, helping a centuries-old art form find new life in the modern era," according to the release. A440 won the $15,000 third place prize, as well as the $2,500 Norman Dresden Leebron Audience Choice Award.

The competition, which was sponsored by was sponsored by Mercury Fund and T-Minus Solutions and supported by the Napier family and the Liu Family Foundation, also provided mentoring and pitch coaching opportunities from experts and the Rice community.

The judges included Rice alumni Claire Shorall, CEO and co-founder of Topknot; Sunit Patel, CFO of Ibotta; Monica Pal, founding partner of How Women Invest; Chris Staffel, managing director of GOOSE Capital; and Brad Husick, CEO and founder of IdeaSense.

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Building Houston

 
 

Molecule has closed new funding in order to focus on the energy transition. Photo via Getty Images

A Houston startup with a software-as-a-service platform for the energy transition has announced it closed a funding round with participation from a local venture capital.

Molecule closed its $12 million series A, and Houston-based Mercury Fund was among the company's investors. The company has a cloud-based energy trading and risk management solution for the energy industry and supports power, natural gas, crude/refined products, chemicals, agricultural commodities, softs, metals, cryptocurrencies, and more.

"We led the seed round of Molecule upon their formation and are excited to participate in their series A," says Blair Garrou, co-founder and managing director of Mercury, in a news release. "Molecule's success in the ETRM/CTRM industry, especially in relation to electricity and renewables, positions them as the company to beat for the energy transition in the 2020s."

The company will use its new funds to further build out its product as well as introduce offerings to manage renewables credits, according to the release.

"In 2020, we realized that electricity — the growth commodity of the 2020s — represented over half of Molecule's customer base, and we decided to double down," says Sameer Soleja, founder and CEO of Molecule, in the release. "We were also rated the No. 1 SaaS ETRM/CTRM vendor. With this fundraise, we have the fuel to become No. 1 SaaS platform for power and renewables, and then the market leader overall.

"Molecule is ready to power the energy transition," Soleja continues.

Molecule's last round of funding closed in November 2014. The $1.1 million seed round was supported by Mercury Fund and the Houston Angel Network.

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