money moves

Exclusive: Houston sports tech startup raises $1.6M to make stadiums safer and more socially distant

Houston-based sEATz has raised funding to help scale to the demands as fans safely return to stadiums. Photo courtesy of sEATz

When COVID-19 hit and shut down major events including sports and entertainment, a Houston tech startup that created a platform for in-stadium food and merchandise delivery hit a huge obstacle.

However, what seemed like an insurmountable challenge became sEATz's biggest opportunity. As sports management teams start to envision bringing in more fans, they've realized they have to prioritizing limiting crowds and enabling social distancing. SEATz — with its in-seat ordering app and backend software — enables fans to stay seated and avoid lines.

"We really started seeing how integral our platform was going to be for the safe return for sports and entertainment," says Aaron Knape, CEO and co-founder of sEATz."When we started getting that momentum and traction with our clients, our investor base and perspective investor base got really excited."

And those excited investors allowed the startup to raise a second seed round of venture capital to the tune of $1.6 million. In September 2019, sEATz closed a $1.3 million seed round led by Houston-based Valedor Partners. Valedor again led this round, says Knape, and, while the plan was just to raise $1 million, the bar was raised to give the company even more funds to scale.

"We didn't want to just idle through COVID," Knape tells InnovationMap. "We see a tremendous opportunity to grow in the market and to expand the capabilities if the platform."

The funds will go toward marketing opportunities as well as tech development. including integrating with various points of service systems.

"We didn't pivot. We expanded our capabilities," Knape says on how sEATz was always focused on mitigating lines in sports and entertainment settings. "This will in all likelihood will make us a much stronger company coming out of COVID."

sEATz In-seat food delivery is going to be a must as fans return to stadiums safely. Courtesy of sEATz

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Building Houston

 
 

Business and government leaders in the Houston area hope the region can become a hub for CCS activity. Photo via Getty Images

Three big businesses — Air Liquide, BASF, and Shell — have added their firepower to the effort to promote large-scale carbon capture and storage for the Houston area’s industrial ecosystem.

These companies join 11 others that in 2021 threw their support behind the initiative. Participants are evaluating how to use safe carbon capture and storage (CCS) technology at Houston-area facilities that provide energy, power generation, and advanced manufacturing for plastics, motor fuels, and packaging.

Other companies backing the CCS project are Calpine, Chevron, Dow, ExxonMobil, INEOS, Linde, LyondellBasell, Marathon Petroleum, NRG Energy, Phillips 66, and Valero.

Business and government leaders in the Houston area hope the region can become a hub for CCS activity.

“Large-scale carbon capture and storage in the Houston region will be a cornerstone for the world’s energy transition, and these companies’ efforts are crucial toward advancing CCS development to achieve broad scale commercial impact,” Charles McConnell, director of University of Houston’s Center for Carbon Management in Energy, says in a news release.

McConnell and others say CCS could help Houston and the rest of the U.S. net-zero goals while generating new jobs and protecting current jobs.

CCS involves capturing carbon dioxide from industrial activities that would otherwise be released into the atmosphere and then injecting it into deep underground geologic formations for secure and permanent storage. Carbon dioxide from industrial users in the Houston area could be stored in nearby onshore and offshore storage sites.

An analysis of U.S Department of Energy estimates shows the storage capacity along the Gulf Coast is large enough to store about 500 billion metric tons of carbon dioxide, which is equivalent to more than 130 years’ worth of industrial and power generation emissions in the United States, based on 2018 data.

“Carbon capture and storage is not a single technology, but rather a series of technologies and scientific breakthroughs that work in concert to achieve a profound outcome, one that will play a significant role in the future of energy and our planet,” says Gretchen Watkins, U.S. president of Shell. “In that spirit, it’s fitting this consortium combines CCS blueprints and ambitions to crystalize Houston’s reputation as the energy capital of the world while contributing to local and U.S. plans to help achieve net-zero emissions.”

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