VC roundup: Here's what Houston startups raised funds last quarter

money moves

These are the 10 Houston companies that together raised over $525 million between July and September. Photo via Getty Images

October means several things — postseason baseball, pumpkins everywhere, and the last quarter of the year.

Before Q4 firmly takes its hold, let's talk about the 10 Houston companies that raised over $526 million between July and September, according to previous reporting from InnovationMap.

Houston chemicals company raises $357M, claims unicorn status

Solugen closed its Series C funding round at $357 million to grow its chemical products. Photo via Getty Images

Houston-based Solugen, a startup that specializes in combating carbon dioxide emitted during the production of chemicals, has hauled in $357 million in a Series C funding round. That amount eclipses the size of any Houston VC funding round this year or last year.

The Series C round lifts Solugen's pre-money valuation to $1.5 billion, according to the Axios news website. This gives Solugen "unicorn" status as a startup with a valuation of at least $1 billion.

Singapore-based GIC and Edinburgh, Scotland-based Baillie Gifford led the round, with participation from Temasek Holdings, affiliates of BlackRock, Carbon Direct Capital Management, Refactor Capital, and Fifty Years.

Since its founding in 2016, Solugen has raised more than $405 million in venture capital, according to Crunchbase.

"Solugen's vision for cleaner chemicals through synthetic biology has the potential to be a fundamental shift in how chemicals are made, to help tackle the environmental challenges we face globally. The chemical market itself is colossal, and Solugen is just getting started," Kirsty Gibson, investment manager at Baillie Gifford, says. Click here to continue reading.

Rapidly scaling Houston e-commerce software startup raises $98M series B

Houston-based Cart.com, which equips e-commerce businesses with a suite of software services, has raised $140 million in venture capital investment since its founding last year. Photo via cart.com

After closing a sizable series A round in April, a Houston tech startup has closed another round of funding — this time a near $100 million one.

Cart.com, an end-to-end e-commerce software startup and Amazon competitor, closed its series B round at $98 million. The investment announcement follows the company's series A in the spring and, according to a news release, brings Cart.com's total funding to $140 million since it launched eight months ago.

"At Cart.com, we believe e-commerce brands should be free to scale up without having to juggle countless outside vendors, and without compromising their unique vision for their brand," says Omair Tariq, CEO of Cart.com, in the release. "Our one-stop platform supports sellers across the full range of e-commerce functionality, empowering them to efficiently scale up and reach new markets using proven, best-of-breed services and technologies." Click here to continue reading.

AI-backed SaaS company based in Houston secures $30M series B funding

Imubit uses artificial intelligence for optimization at manufacturing plants. The company closed its series B at $30 million. Photo via imubit.com

Houston-based Imubit, whose AI-powered technology provides process optimization for refiners' and chemical operators' manufacturing plants, has raised $30 million in venture capital.

Zeev Ventures led the $30 million Series B round alongside Insight Partners, with participation from existing investors Spider Capital and UpWest. Since its founding in 2016, the company has raised $50 million.

"Imubit's goal is to transcend the industry beyond the decades old process control and optimization software hierarchy. … Today, we are solving previously unsolvable problems that are worth millions of dollars in annual margin to our clients," Gil Cohen, Imubit's co-founder and CEO, says in an August 16 news release. Click here to continue reading.

Houston-based medical device company snags $12.8M in series B

Saranas closed its series B round this week. Photo courtesy of Saranas

A Houston company that's changing the game when it comes to early bleed detection has raised its next round of funding.

Saranas Inc. announced that it closed a $12.8 million series B investment led by Wisconsin-based Baird Capital, the venture capital and global private equity arm of Baird, a global company with a location in Houston. Austin-based S3 Ventures also supported the round.

The company will use the funds to continue its clinical trials, per a news release.

"We are pleased to announce this round of funding led by Baird Capital," says Saranas President and CEO James Reinstein in the release. "It underscores the importance of real-time monitoring of bleeding complications and our opportunity to accelerate the commercialization of Early Bird. We look forward to expanding our clinical evidence through prospective clinical trials and launching next generation products, including Bird on a Wire, to address a much broader range of endovascular procedures." Click here to continue reading.

Houston health tech company raises $7.85M series A led by local VC

Houston-based Kare Technologies has raised fresh funds to spur its national expansion. Image courtesy of Kare

A Houston-based health tech company has scored fresh funds from a Houston venture group to fuel its growth and to expand nationally.

KARE Technologies, a digital labor marketplace for health care workers, raised a $7.85 million series A investment round led by Houston-based Golden Section Ventures.

"The KARE team are well known in senior care and the caring industry at large," says Dougal Cameron, general partner at GSV, in a news release. "They are experts in their field and know this problem well. Their care for the industry and knowledge in the space clearly shows in the company's rapid adoption. They are providing a needed solution to an extremely important industry for our society." Click here to continue reading.

Houston energy blockchain company announces $7.7M in funding, plans to expand to the Middle East

Data Gumbo, founded and led by Andrew Bruce, has announced its latest funding. Photo courtesy of Data Gumbo

A Houston-based tech company has announced another round of funding to support its blockchain network growth as well as to establish a presence in the Middle East.

Data Gumbo has closed its series B funding round totaling $7.7 million with follow-on investments led by Equinor Ventures. The round includes participation from Saudi Aramco Energy Ventures and Bay Area and Houston-based venture firm L37. The round's first close was announced in September 2020 at $4 million. The additional funds to close the Series B will be used to scale Data Gumbo to serve demand for GumboNet™ and GumboNet™ ESG. Additionally, Data Gumbo plans to establish a presence in the Middle East to cover expected demand growth in the region.

"The successful close of our series B is continued proof of the efficacy and booming interest in our ability to capture critical cost savings, deliver trust and provide transparency across commercial relationships," says Andrew Bruce, founder and CEO of Data Gumbo, in a news release. "Compounded by the growing demand for transparent, accurate sustainability data and the launch of our automated ESG measurement solution, GumboNet™ ESG, Data Gumbo's trajectory is well-positioned to serve our growing customer base by ensuring economic productivity and value. This infusion of capital will support our expansion efforts as we bring more international users to our network." Click here to continue reading.

Houston artificial intelligence startup raises $6M in seed funding

This Houston startup has a game-changing technology for deep learning. Photo via Getty Images

A computer science professor at Rice University has raised seed funding last month in order to grow his company that's focused on democratizing artificial intelligence tools.

ThirdAI, founded by Anshumali Shrivastava in April, raised $6 million in a seed funding round from three California-based VCs — Neotribe Ventures and Cervin Ventures, which co-led the round with support from Firebolt Ventures.

Shrivastava, CEO, co-founded the company with Tharun Medini, a recent Ph.D. who graduated under Shrivastava from Rice's Department of Electrical and Computer Engineering. Medini serves as the CTO of ThirdAI — pronounced "third eye." The startup is building the next generation of scalable and sustainable AI tools and deep learning systems.

"We are democratizing artificial intelligence through software innovations," says Shrivastava in a news release from Rice. "Our innovation would not only benefit current AI training by shifting to lower-cost CPUs, but it should also allow the 'unlocking' of AI training workloads on GPUs that were not previously feasible." Click here to continue reading.

Houston construction tech company raises $4M round

Buildforce is an app that can connect contractors with construction experts. Photo courtesy of Buildforce

A locally founded company that's focusing on changing the construction labor game has raised a round of institutional funding.

Buildforce, which splits its headquarters between Houston and Austin, closed its latest round of funding at $4 million. The round was led by Maryland-based TDF Ventures, with participation from existing investor Houston-based Mercury Fund and Austin-based S3 Ventures.

The company uses construction staffing and management software to more efficiently connect contractors to skilled workers across trades — electrical, mechanical, plumbing, flooring, concrete, painting, and more.

"Contractors depend on skilled and reliable tradespeople to meet project timelines," says Moody Heard, co-founder and CEO of Buildforce, in a news release. "Our key insight is that by optimizing the user experience for skilled tradespeople seeking higher pay and job security, we are able to help meet contractors' needs. We're thrilled to have become the partner of choice for the top contractors in our current markets looking to connect with this workforce." Click here to continue reading.

Houston startup raises $1.75M round with support from local female-focused investor

Ampersand and Curate Capital are working together to move the needle on the future of work. Photo courtesy of Curate Capital

A Houston-based startup focused on upskilling young professionals has closed its latest round of funding with support from a local investor.

Ampersand Professionals Inc. raised $1.75 million in pre-seed funding led by Curate Capital, a Houston-based, female-focused venture capital fund. Carrie Colbert, Curate's founding and general partner, will join Ampersand's advisory board.

Ampersand — founded in 2020 by Allie Danziger with Co-Founders Kathrin Applebaum and Scott Greenberg — has developed a platform for businesses to easily implement internship programs. The program also upskills and educates young professionals, providing them career development and job skills training.

"Ampersand's mission to democratize access to career-building opportunities for young professionals, ties in nicely with Curate's mission to empower women, says Colbert in a news release. "The company's platform will have a direct positive impact on young women (and others) as they begin their professional careers." Click here to continue reading.

Houston digital health platform raises $1.2M seed round

DocSpace was founded by Chief Product Officer Miles Montes (left) and CEO Mario Amaro, a physician and U.S. Navy Veteran. Photo courtesy of DocSpace

A Houston-based software company providing clinicians a turn-key platform for their practice has announced the close of its seed funding round.

DocSpace raised $1.2 million in seed funding led by Slauson & Co. with participation by Precursor Ventures, Acrew Capital's Scout Fund, and SputnikATX Ventures. The company's angel investors Nathan and Sonia Baschez, Nikhil Krishnan, and Eliana Murillo. The company was founded by CEO Mario Amaro, a physician and U.S. Navy Veteran, and Chief Product Officer Miles Montes, an expert in platform product management previously at ADP and ShopLatinx.

"Existing practice management software requires clinicians to manually self-navigate the expensive and complicated business formation process before they're able to utilize any of their product services," says Amaro in a news release. "When you require clinicians to do all the hard work of starting a new business then force them to purchase expensive software, it's no surprise that fewer clinicians have the opportunity to build new businesses in their communities." Click here to continue reading.

The second quarter of this year was good to these Houston tech startups. Photo via Getty Images

These 10 Houston startups closed funding rounds in Q2

following the money

It's been a banner year for Houston startups raising funds. From an Amazon competitor emerging from stealth and snagging a $25 million series A to a $74 million series B for a clinical-stage biopharmaceutical company, Houston's innovative companies have seen a great second quarter of 2021 in terms of VC activity.

In fact, according to a report from Houston Exponential, Q2's funding activity follows a 12-month period of $1 billion raised in Houston. This report included the first quarter's deals, which is rounded up in this article.

In case you missed some of these Q2 deals, InnovationMap has rounded up all its coverage of funding rounds closed between April and June based on previous reporting. Scroll through to see which Houston startups are catching the eyes — and cashing the checks — of investors.

Cancer-fighting company based in Houston emerges from stealth and snags $74M in its latest round

Tvardi Therapeutics Inc. has fresh funds to support its drug's advancement in clinical trials. Photo via Getty Images

A Houston-based clinical-stage biopharmaceutical company has raised millions in its latest round.

Tvardi Therapeutics Inc. closed its $74 million series B funding round led by new investors New York-based Slate Path Capital, Florida-based Palkon Capital, Denver-based ArrowMark Partners, and New York-based 683 Capital, with continued support and participation by existing investors, including Houston-based Sporos Bioventures.

"We are thrilled to move out of stealth mode and partner with this lineup of long-term institutional investors," says Imran Alibhai, CEO at Tvardi. "With this financing we are positioned to advance the clinical development of our small molecule inhibitors of STAT3 into mid-stage trials as well as grow our team." Click here to continue reading.

Houston-based cancer and disease bio-venture launches after $38.1M series A

A Houston biotech company has raised $38.1 million. Photo by Dwight C. Andrews/Greater Houston Convention and Visitors Bureau

Sporos Bioventures LLC launched this month after closing a $38.1 million round of series A financing.

The Houston-based biotech company aims to accelerate the development of breakthrough therapies for cancer and immune diseases by sharing resources, capital, access to clinical trial infrastructure, and talent from within its knowledgeable team of biotech executives, entrepreneurs, academic scholars, and investors. The company was launched with four entities: Tvardi Therapeutics, Asylia Therapeutics, Nirogy Therapeutics, and Stellanova Therapeutics.

The most advanced of the four entities, Tvardi, is currently in Phase 1 clinical trial to evaluate it's STAT3 oral inhibitor. It was named a "most promising" life sciences company at the 2020 Texas Life Science Forum, hosted by BioHouston and the Rice Alliance in December. The remaining entities are in the development stages and are focused on cancer, autoimmune disease, fibrosis, and tumor growth, among other conditions.

"Sporos was founded to accelerate the development of new medicines by addressing inefficiencies and risk in the establishment of new biotech companies," Peter Feinberg, Sporos co-founder, said in a statement. "By leveraging our extensive network, including the Texas Medical Center, we first identify transformative scientific opportunities and then deploy our top-tier talent, funding, and operational support to drive these insights into a growing pipeline of first-in-class treatment options." Click here to continue reading.

Houston-based e-commerce software startup and Amazon competitor raises $25M in its series A

Houston-based Cart.com, which equips e-commerce businesses with a suite of software services, has raised $45 million in venture capital investment since its founding in September. Photo via cart.com

An end-to-end e-commerce services provider based in Houston has closed its series A round of financing led by a Houston venture capital group.

Cart.com announced the closing of its $25 million led by Houston-based Mercury Fund and Florida-based Arsenal Growth with contribution from Austin-based Moonshots Capital and Ohio-based Scarlet Venture Fund. The new round follows its $20 million Seed round led by Amsterdam-based Bearing Ventures.

The company was founded last September by two former entrepreneurs — Omair Tariq, former executive at Home Depot and COO of Blinds.com, serves as CEO and Jim Jacobsen, co-founder and former CEO of RTIC Outdoors, serves as executive chairman.

"We know the pain points brands face in the e-commerce value chain because we have experienced them firsthand. We built Cart.com to solve those problems and deliver unequaled value for brands from a single platform," Jacobsen says in a news release. Click here to continue reading.

Houston alternative energy startup raises $23M series B with global support

Syzygy Plasmonics has raised $23 million thanks to international support. Photos via plasmonics.tech

A Houston startup founded based off research coming out of Rice University has closed its series B funding, the company announced this week.

Founded in 2017, Syzygy Plasmonics is a chemical company developing a photocatalyst-powered hydrogen fuel cell technology that produces a cheaper source of energy that releases fewer carbon emissions. As of this week, the company has $23 million more to fund its scaling and grow its team thanks to the closing of its series B financing led by Hong Kong-based Horizons Venture. Equinor Ventures, a new investor, also joined in on the round, along with previous seed and series A investors including The Engine, GOOSE Capital, and Evok Innovations.

"With renewable electricity as an energy source, our technology is cleaner, and because of the stability and activity of our photocatalysts, we can drive dozens of possibilities, tuning reactions that produce different chemicals," says Trevor Best, Syzygy Plasmonics' co-founder and CEO, in a news release. "Our initial product will focus on eliminating emissions from hydrogen production, transforming the industrial process involved in making semiconductors, LEDs and metals. Our system will also enable industries that are consumers of hydrogen fuel cells, like fuel cell vehicles." Click here to continue reading.

Houston-based artificial heart company snags $22M in fresh funds

Through a series B round and a federal grant, BiVACOR has raised $22 million in funding ahead of human trials. Photo via bivacor.com

Houston-based medtech company BiVACOR has picked up $22 million in funding — in the form of a series B round and a federal grant — to propel development of its Total Artificial Heart device for treatment of severe heart failure.

In a May 19 news release, BiVACOR says it received a series B round of $19 million and a National Institutes of Health grant of $3 million. Boston-based Cormorant Asset Management and Australia's OneVentures, through its OneVentures Healthcare Fund III, led the round.

OneVentures first invested in BiVACOR three years ago. According to Australia's Financial Review, OneVentures initially pumped $3 million (Australian dollars) into BiVACOR, with the potential of contributing as much as $10 million if BiVACOR met certain milestones. BiVACOR received a round of seed funding from U.S. investors in 2013.

"BiVACOR's one-of-a-kind technology is supported by a remarkable team that has moved this technology a significant distance toward the clinic," Paul Kelly, managing partner of OneVentures, says in BiVACOR's news release. Click here to continue reading.

Houston small biz tech platform raises $21M series B

Hello Alice Co-Founders Carolyn Rodz and Elizabeth Gore recently raised funds to continue to grow their company that supports startups and small businesses. Photos via helloalice.com

A tech company focused on supporting and growing startups and small businesses has reached its own next big growth milestone this week.

Machine learning-enabled small business support company Hello Alice, founded in Houston with a large presence in California, has closed its $21 million series B raise led by Virginia-based QED Investors with participation from new investors including Backstage Capital, Green Book Ventures, Harbert Growth Partners, and How Women Invest.

The raise comes at a pivotal time for the company, which worked hard during the pandemic to support struggling business and now aims to support entrepreneurs of all backgrounds as the world re-emerges out of the COVID-19 era. The fresh funds, according to a press release, will be used to refine the predictive capabilities on its platform, launch a mobile application, and more.

"These investments signal that despite the recent challenges small business owners have faced, there is an economic tidal wave that will revitalize Main Street, led by the entrepreneurs we serve," says Elizabeth Gore, co-founder and president of Hello Alice, in the release. Click here to continue reading.

Houston data management company closes $18M in fresh funding

Houston-based data management startup Graylog has fresh funds to fuel its growth. Photo via Graylog.org

A Houston company that's created a centralized log management solution has closed a new round in funding.

Graylog closed its $18 million growth equity round led by Richmond, Virginia-based Harbert Growth Partners, a new investor, and Minneapolis, Minnesota-based Piper Sandler Merchant Banking, the company announced today. The round also received contribution from existing investors Houston-based Mercury Fund and Integr8d Capital, as well as Germany-based HTGF.

"This investment will enable us to accelerate our global go-to-market strategies and enhancements to the award-winning solutions we deliver for IT, DevOps, and Security teams," says Andy Grolnick, CEO of Graylog, in a press release. "We're excited to have the support of new and existing investor partners to help us realize our potential." Click here to continue reading.

JLABS-based cancer therapies company closes $15.5M series A led by Houston bioventure

Laura Furr Mericas

Houston-based Stellanova Therapeutics closed a $15.5 million series A financing this month, which will advance the company's first-in-human clinical trials for oncology and help build out its team.

Stellanova is a resident company at Johnson & Johnson's biotech incubator in the TMC (JLABS @ TMC) and is one of four entities that make up cancer and disease biotech company Sporos Bioventures, which officially launched last month after closing a $38.1 million series A of its own.

Stellanova is focused on advancing therapies for cancers that are resistant to current treatments, like chemotherapy and immune therapies. According to a release, it has seen unprecedented anti-tumor activity in preclinical models of pancreas and triple negative breast cancer through the use of its lead antibody, which targets DKK3, a factor secreted by cancer-associated fibroblasts that spur tumors. Click here to continue reading.

Houston-based electronics manufacturing biz raises $15M in new funding

MacroFab's latest $15 million round will help it expand and grow throughout North America. Photo via macrofab.com

A Houston company that has optimized electronics manufacturing by setting up a digital platform connecting a network of factories across North America has raised its latest round of funding.

MacroFab closed a $15 million series B round led by New Jersey-based Edison Partners. ATX Venture Partners also participated, along with strategic investor Altium Limited, a leader in the electronics design software space.

The new funds will go toward keeping up with MacroFab's growth, specifically in expanding in North America and an increased investment in research and development, sales and marketing, and the opening of a new distribution center for international logistics this summer, according to a news release.

"MacroFab customers found themselves in a perfect storm last year, and went from being curious about cloud-enabled manufacturing to going all-in," says Misha Govshteyn, MacroFab CEO, in the release. "The turbulence started with the trade war and tariffs, and only accelerated with massive delays in delivering products from overseas and the ongoing microchip availability crisis." Click here to continue reading.

Houston SaaS startup closes $12M series A funding round with support from local VC

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." Click here to continue reading.

These Houston startups are starting the year off funded. Photo via Getty Images

5 Houston startups start 2021 strong with fresh funding

following the money

Houston startups saw a tumultuous year last year when it came to funding, but some local businesses are seeing an uptick in various stages of venture funding — from a $130 million series B round to a few seed and pre-seed fundings.

In case you missed some of these headlines, InnovationMap has rounded up these seven deals based on previous reporting. Scroll through to see which Houston startups are catching the eyes — and cashing the checks — of investors.

Houston software startup closes $7.5M series A led by two Houston-area​ VC firms

A Houston startup has closed a $7.5 million round of funding with mostly local investment. Photo courtesy of WizeHire

A Houston B2B software startup has closed a new round of funding led by two Houston venture capital firms.

WizeHire, a tech-enabled hiring solution for small businesses, closed a $7.5 million series A funding round that was led by Houston-based Mercury Fund and Amplo, which is based just north of Houston in Spring. Additional support came from existing backers Ruchit Shah and RigUp co-founder Sandeep Jain. The company was co-founded by Sid Upadhyay, Nick Carneiro, and Jay Niblick.

According to a news release, WizeHire will use the funds to scale their business, which is centered around providing personalized hiring resources to small businesses, as well as to hire more staff and expand its partner program.

"We're a small business helping small businesses with a team of people looking out for you," says Upadhyay, who serves the company as CEO, in the release. "Hiring is complex and personal. Our customers see what we do not just as software; they see us as a trusted advisor." Click here to continue reading.

Houston B2B software company raises $3.2M in seed funding to grow team and product

DocJuris has raised its first round of venture funding to grow its team to keep up with demand for its legal software platform. Image courtesy of DocJuris

A Houston-based software-as-a-service company that is revolutionizing the contract process has closed a round of funding this week.

DocJuris, founded in 2018, raised $3.2 million in seed funding led by New York-based RTP Seed with additional support from Houston-based Seed Round Capital, California-based Watertower Ventures, Maryland-based Crossbeam, and Remote First Capital.

It's the startup's first round of venture funding and Henal Patel, CEO of DocJuris, says he was looking for funds as well as support from investors who had experience with software and could open doors to new clients for the legal software. Click here to continue reading.

Houston space tech company raises $130M series B

Houston-based Axiom Space has raised more funds for its growing commercial space business. Image via axiomspace.com

Just around a year ago, Houston-based Axiom Space Inc. closed a $100 million series A round. Now, the space tech company has announced even more financing as it grows and scales to support a NASA-commissioned project.

Axiom raised $130 million in its series B round led by C5 Capital with support from TQS Advisors, Declaration Partners, Moelis Dynasty Investments, Washington University in St. Louis, The Venture Collective, Aidenlair Capital, Hemisphere Ventures, and Starbridge Venture Capital.

"Axiom Space is a force in the space sector, and it will become a centerpiece of the C5 Capital portfolio and enhance our vision for a secure global future," says C5 operating partner Rob Meyerson, who will join the Axiom board of directors, in a news release. "The Axiom Station will be the infrastructure upon which we will build many new businesses in space, and it will serve as the foundation for future exploration missions to the Moon, Mars, and beyond." Click here to continue reading.

Houston construction staffing startup emerges from stealth with $1.5 pre-seed funding

Houston-based Buildforce is developing a technology to better connect contractors and the trade professionals they employ. Photo via Getty Images

A Houston startup has been quietly working on a tech solution for construction staffing and has now emerged from stealth mode to announce a recent funding round as well as an acquisition.

Launched in July of 2020, Buildforce is a construction staffing app that aims to more efficiently connect contractors to skilled workers in trades ranging from electrical, mechanical, and plumbing to flooring, concrete, painting, and more, according to a news release. The company raised a $1.5 million pre-seed round led by Houston-based Mercury Fund.

Co-founder and CEO Moody Heard, who previously served as senior investment analyst at Mercury, says the tech product — the Buildforce Contractor App — will have a big impact on Texas, which is experiencing growing construction volume across the state. Click here to continue reading.

Houston digital studio closes $2M seed round with local investment

Umbrage, a Houston-based developer of enterprise software, has closed its seed funding. Photo via umbrage.com

A software startup in Houston has leveled up thanks to new funding. Houston-based digital studio Umbrage has reportedly raised $2 million.

Founded in 2019 by Will Womble, Umbrage creates custom software solutions for companies within digitally transforming industries, such as oil and gas, healthcare, and supply chain.

"Umbrage is a new way that enterprises can overcome the inherent challenges of building and scaling digital solutions," Womble, who also serves as CEO, says in a news release. "Umbrage partners with internal technology teams to create scalable products that directly impact business' success. And by training our clients to effectively scale and improve these custom-built solutions, we're setting up our customers for long-term, sustainable success." Click here to continue reading.

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2026 Houston Innovation Awards finalists revealed and more top stories

Trending News

Editor's note: The top Houston innovation news for the first half of October celebrates the finalists for our sixth annual awards program. Plus, Rice launches a new venture fund and an energy AI company picks Houston for its first U.S. office. Here are the five most-read stories published October 1-15, 2026:

Announcing the 2026 Houston Innovation Awards finalists

InnovationMap is proud to reveal the finalists for the 2026 Houston Innovation Awards. The sixth annual Houston Innovation Awards program returns in an all-digital format this fall to honor the best of Houston's innovation ecosystem, including startups, entrepreneurs, mentors, and more. Get to know our finalists in more detail through editorial spotlights on InnovationMap.com leading up to the winner announcement in mid-November. Continue reading.

Meet the esteemed judges for the 2026 Houston Innovation Awards

Our 2026 Houston Innovation Awards judging panel comprises past award winners who represent a variety of industries and areas of expertise. They are joined by InnovationMap's interim editor. All are deeply engaged in the Houston innovation ecosystem. Continue reading.

Energy AI company opens first U.S. office at Houston's the Ion

Building on its partnership with Houston-based oilfield services provider Halliburton, energy-sector AI company Shape Digital recently opened an office at The Ion. It’s the company’s first U.S. location. Shape Digital’s workforce in Houston includes employees specializing in tech support, business development and client services. The company’s local hiring projections and headcount weren’t available. The new office will be located within Industrious at the Ion, according to Rice Alliance. Continue reading.

Rice University launches new venture fund for university-affiliated startups

Rice University has launched its new One Giant Leap Ventures Fund I, which will invest in the university’s spinouts and alumni-founded startups. The early-stage institutional venture fund will function with a hybrid structure that allows for participation from traditional equity investors and philanthropic investors. According to the university, the fund will invest up to $500,000 per Rice-affiliated company. To be considered eligible for funds, companies must use intellectual property licensed by the university or be led or founded by alumni. Continue reading.

Here’s where wages grew the most in Houston since 2021, according to new report

Bolstered by a thriving manufacturing sector, Waller County—the country’s second-fastest-growing county—leads all Houston-area counties for the growth of pay from 2021 to 2026, according to a new study. The study, conducted by personal finance website SmartAsset, found average pay in Waller County rose 48 percent from 2021 to 2026. The county’s average weekly pay climbed from $891 to $1,323 during that period. Continue reading.

5 female-founded Houston startups shine as Innovation Awards finalists

meet the finalists

Houston is home to many standout female founders, making inroads and breakthroughs in every industry.

As part of the 2026 Houston Innovation Awards, our Female-founded Business category honors women-led startups that are shaping Houston innovation.

Five female-founded businesses have been named finalists for the 2026 award. This year's finalists, selected by our esteemed panel of judges, range from an AI startup for C-Suite execs to a company developing semi-autonomous crawler robots for corrosion detection.

Read more about these innovative startups and the visionary female founders behind them below. The 2026 winners will be announced on InnovationMap.com in mid-November.

Adair

Artificial intelligence startup Adair uses computational linguistics and behavioral economics to measure, model and quantify the impact of spoken and written language on firm valuation and stock prices. The company works with C-Suite executives of public companies on high-stakes communications before they go live.

The company was founded last year by CEO Kathleen Perley, CPO Alex Duong and CTO Anthony Grivet. It raised $5.6 million earlier this year, according to its application.

ARIX Technologies

Energytech startup ARIX Technologies has developed a semiautonomous VENUS crawler robot to detect corrosion under insulation before it becomes a failure. The robots climb insulated piping in refineries, chemical plants and energy facilities to capture inspection data without removing insulation or building scaffolding. ARIX's inspection portal then turns information from the inspection into data a company can act on.

ARIX was founded in 2017 by Dianna Liu, who serves as director, and Head of Product Petter Wehlin. Craig Malloy serves as CEO. The company has raised more than $22 million in seed funding and a Series A round, according to its application.

Bairitone Health

Healthtech startup Bairitone Health is bringing anatomy imaging for sleep apnea to the home environment. The company's platform maps users' anatomy during natural sleep using a facial patch to determine the root cause of airway obstruction. It then offers effective therapies for each patient.

The company was founded in 2022 in the Texas Medical Center's Biodesign program by CEO Meagan Pitcher, CTO Onur Kilic and chief medical officer Britt Cross. It was a member of Activate Houston's inaugural cohort and has participated in numerous accelerators and incubators. The company raised an oversubscribed seed round for $2.4 million earlier this year and received Breakthrough Device Designation from the Food and Drug Administration in April.

FlowCellutions

Energytech startup FlowCellutions is developing a chemistry-agnostic diagnostics platform for flow and metal-air batteries supporting data centers and critical infrastructure. The platform is designed to help reduce operating costs, prevent failures and costly downtime, and extend battery lifetime from approximately seven years to more than 30 years. It has deployed four paid pilots and plans to take insights from the programs to develop its next-gen sensor platform technology.

CEO Becca Segel founded the company in 2022. It is a member of Greentown Labs, and Segel was a 2025 Activate Fellow. The company has raised over $2 million in non-dilutive funding and received a $1.5 million NSF SBIR Fast-Track award earlier this year.

ParaDocs Health

Healthtech startup ParaDocs Health is developing a clinical intelligence platform that helps doctors and care teams streamline administrative tasks and make better use of patient records. Its technology organizes fragmented clinical data into actionable insights, helping care teams identify gaps in care, assess patient risks and simplify documentation and reimbursement.

ParaDocs was founded in 2022 by CEO Dr. Dhini Nasution and CTO Dr. Omar Mohtar. The company participated in the TMCi Biodesign Program and raised a preseed round last year, according to its application.

Rice University launches AI initiative, plans to hire 75 faculty

ai expansion

Houston’s Rice University announced a university-wide artificial intelligence initiative this week that includes hiring 75 new AI-focused faculty. It also shared new details about its planned state-of-the-art facility, The Arc.

Fresh off the announcement of Rice’s new Master of Artificial Intelligence (MAI) coming next fall, the university shared that it plans to expand its AI-related courses and be a “global leader in advanced computing and responsible AI.”

Rice reports that it has already hired 35 faculty members to deepen expertise across schools and departments regarding AI, and plans to recruit 40 more across disciplines including engineering, computing, health, energy, environmental resilience, business, humanities and the arts.

Rice's schools and departments have identified the four cluster areas to guide its hiring:

  • Foundational AI
  • AI for Health
  • AI for Energy, the Environment and Resiliency
  • Responsible AI: Society and Ethics

“Hiring exceptional faculty is essential, but it is only one part of the equation,” Amy Dittmar, Rice’s Howard R. Hughes Provost and executive vice president for academic affairs, said in a news release. “We are building the people, places and partnerships needed to advance AI from foundational discovery to societal impact.”

Another major component of the effort is the planned 200,000-square-foot facility, The Arc, which Rice announced will break ground this fall. Rice will occupy nearly 80,000 square feet of office and laboratory space dedicated to topics including AI, data science, robotics, computational engineering and energy. The university previously announced that The Arc would be completed in Q1 2028.

The Arc will also house the AI Foundry, which is being developed as a collaborative space for industry partners, scientists and students.

“As Rice grows, we are being intentional about where we invest and how we build,” Rice President Reginald DesRoches added in the release. “By bringing together exceptional faculty, a strong interdisciplinary research community, world-class facilities and Houston’s extraordinary innovation ecosystem, Rice has an opportunity not simply to participate in the AI revolution but to help define its future.”

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