smart home

Houston home tech startup emerges from stealth with $10M series A round

A Houston startup has launched to keep an eye on your AC to predict and prevent outages and issues. Photo courtesy of SmartAC.com

It can get hot as Hades in Houston during the summer, and a new Houston startup is using machine learning and technology to ensure that users can count on their air conditioning units to stay up and running during the heat.

Houston-based SmartAC.com has emerged from stealth mode with $10 million in funding from a series A investment round. The company's technology focuses on maintaining air conditioning and heating (HVAC) health before a major service issue occurs.

"Over 70 million homes have central air in the U.S., making indoor comfort a regular way of life. People don't often think about their HVAC systems, taking it for granted, until the day the AC or heat goes out," says Josh Teekell, CEO and founder of SmartAC.com, in a news release. "These systems require regular upkeep, and when they aren't maintained, costs can get out of hand. SmartAC.com's offer is simple; we care about your AC so you don't have to."

The company's technology combines three hardware sensors — which users can install themselves — and machine learning software to analyze data to predict service issues. The comfort sensor monitors the temperature of the air coming out of the unit, the filter sensor tracks the lifespan of air filters by tracking pressure and airflow, and the water sensor protects against leaks and clogs.


The three SmartAC.com sensors are magnetic and easy to install. Photo courtesy of SmartAC.com

All three sensors are linked by SmartAC.com Hub, which sends data from the sensors to the cloud and the SmartAC.com app to translate the data into recommendations to help users reduce costs and get ahead of issues.

"The average AC replacement cost is $7,500 — an expense that can be a huge burden on homeowners. Caring for these assets is inconvenient and oftentimes confusing, resulting in 80 percent of homeowners skipping the recommended maintenance on their AC systems," says Andrew Fuselier, SmartAC.com's COO, in a news release. "It's time to digitize the AC ownership experience to solve a decades old problem. SmartAC.com was formed in stealth mode with feedback from thousands of homeowners, so we're thrilled to finally show the world what we've built."

In addition to working directly with consumers, SmartAC.com has teamed up with HVAC service providers.

"SmartAC.com is a total game-changer," says David Lewis of Mission AC in a news release. "Our clients love the additional transparency and the technology allows us to improve our service speed and quality because, for the first time, we have real-time data on the systems we service."

The data from the sensors is analyzed and sent to users via the smart phone app. Photo courtesy of SmartAC.com

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BiVACOR has received fresh funding from its investors to further develop its artificial heart. Photo courtesy of BiVACOR

A Houston medical device company that is developing an artificial heart announced it has received investment funding to the tune of $18 million.

BiVACOR's investment round was led by Boston-based Cormorant Asset Management and Australia's OneVentures's Healthcare Fund III. According to the company, the funding will be deployed to continue research and development, hiring executives, and support the path to first in human trials.

“We are extremely grateful for the ongoing support from our core investors," says Thomas Vassiliades, who was named CEO of BiVACOR last year, in a news release. "This additional commitment further validates our technology and the need for improved options to treat end-stage biventricular heart failure.

“With this financing, we will be able to double the size of our organization and add key positions from the C-suite to research and development. We are well positioned to advance our preclinical activities and aim to conduct our First in Human early feasibility study planned for the end of the year,” he continues.

Billed as the first long-term treatment for patients with severe biventricular heart failure, the BiVACOR Total Artificial Heart is an implantable artificial heart that utilizes rotary blood pump technology. This technology includes magnetic levitation and is a "durable, reliable, and biocompatible heart replacement," per the company's release. It's about the size of a fist and can be used in a wide range of patients including some children and women and up to adult males.

“Under the leadership of its expert management team, the company has developed a credible strategy for growth as they march toward first in human studies,” says Jeannie Joughin, board chair and principal at One Ventures, in the release. “There is a huge gap in care for patients waiting for a heart transplant, and we are confident that BiVACOR will continue to execute its strategy to swiftly get the Total Artificial Heart into the patients who need it most.”

The company raised its $22 million series B round in early 2021, which was also led by Cormorant Asset Management and OneVentures. To date, BiVACOR has raised $60 million.

“BiVACOR continues to execute on its strategy, and there was no question that we would jump in to lead this funding,” says Bihua Chen, CEO and founder of Cormorant Asset Management. “We are impressed by BiVACOR’s world-class team and continued dedication to push the technology in the clinic. We’re excited to support their growth and vision to transform the treatment of biventricular heart failure with the world’s first fully MAGLEV total artificial heart.”

Founded in 2008, BiVACOR maintains offices in Cerritos, California, and Brisbane, Australia. The company is affiliated with Houston's Texas Heart Institute, where the world's first artificial heart was implanted. BiVACOR's headquarters is at the Texas Medical Center complex.

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