Houston investor goes all in on funding female founders

HOUSTON INNOVATORS PODCAST EPISODE 81

Carrie Colbert saw an opportunity is funding female-founded companies, and she's taking it. Photo courtesy of Curate Capital

Carrie Colbert wasn't planning on becoming a venture capital investor — it just happened organically.

"This has been kind of a backwards process. Our fund was driven by demand," Colbert, founder and general partner of Houston-based Curate Capital, says on this week's episode of the Houston Innovators Podcast. "We were getting such good deal flow in terms of quantity and quality."

Colbert says she originally carved out a practical career and worked her way up the corporate ladder within the energy industry — first at Anadarko Petroleum and then at Hilcorp Energy Co. — for almost 20 years. On the side, she was also establishing herself as a prominent content creator specializing in all things colorful on her blog and Instagram.

It was through the network she created that she started learning about up-and-coming businesses that she wanted to get involved in — first as an angel investor for a few years and now through her VC.

"Instagram turned out to be one of the best networking tools for me," Colbert says. "You can connect with people wherever they are and wherever you are."

A prime example of this interaction was Jordan Jones, founder and CEO of Austin-based consumer goods company, Packed Party. Jones suggested meeting up with Colbert, and the two hit it off. Down the road when it came time to fundraise, Colbert became Jones' first outside investor.

"I've never had to search for deals," Colbert says. "I connect with them on social media or, in pre-pandemic days, I meet them at creative conferences."

Now, under her Curate Capital, Colbert is raising an initial $10 million fund — and she's already committed about 40 percent of that into companies across industries — consumer packaged goods, fintech, health tech, and more.

"We are not industry specific," Colbert says. "Rather, where I have found our sweet spot to be is businesses by women, for women... That's where I think I can provide the most value."

Female founders continue to be funded less than their male counterparts, and Crunchbase reported that last year the discrepancy increased drastically. Colbert recognizes this need and carved out her niche accordingly.

"Women control so much of the spending, and yet are getting so few of the VC dollars. We really see that as an opportunity. It's not a problem we're trying to fix necessarily — we certainly can't rectify it on our own," Colbert says.

Colbert expects her first fund's initial close around July, and she also plans on announcing new investments in the next few weeks. She's also working on bringing on new limited partners and will soon be launching a crowdfunding opportunity to get more women in her network involved.

Colbert shares more about Curate Capital and her advice for her fellow female entrepreneurs on the episode. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


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Houston tech startup acquired by Tokyo-based multinational company

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A Houston company that provides analytics solutions within the chemicals industry has exited to a Japanese company.

Yokogawa acquired Fluence Analytics Inc. in a deal announced today. The terms of the deal were not disclosed and, effective immediately, the company operate as Yokogawa Fluence Analytics. Jay Manouchehri, who joined the company in 2022, will continue to serve as CEO of the entity.

“Combining forces with Yokogawa Electric enables us to capture the full value of our unique data sets, and we can't wait to deliver this added value to our customers," Manouchehri says in a news release. "Together, we will enable autonomous operations and digital transformation in the polymer and biopharma industries."

Founded in 2012 in New Orleans, Fluence Analytics moved to Houston in 2021 following a $7.5 million venture capital raise led by Yokogawa Electric Corp., which has its North American headquarters in Sugar Land.

The company's technology — automatic continuous online monitoring of polymerizations (ACOMP) product — provides real-time analytics solutions to polymer and biopharmaceutical companies worldwide. According to the company, its ACOMP product is the only commercially available system that can measure and analyze multiple polymer properties in real time, which leads to an improved system and less energy consumption and waste.

“Polymers are used in nearly every aspect of modern society in the form of plastics, rubber, paint, and so on," says Kenji Hasegawa, a Yokogawa Electric vice president and head of the Yokogawa Products Headquarters, in the release. "Combining Fluence Analytics' ACOMP system and other technology with our industry know-how will enable us to work with our customers to digitalize and automate polymerization processes that are currently monitored and adjusted manually.

"This will assist customers to improve worker safety, profitability, and environmental performance. We also plan to apply this technology to polymer re-use. We believe this is truly a game-changer for the industry,” he continues.

Fluence Analytics offices in Stafford, just southwest of Houston and has a team of 25 employees. Last fall, Fluence Analytics won in the Hardtech Category of the Houston Innovation Awards.

4 program deadlines Houston innovators should know about

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Editor's note: It's safe to say 2023 has fully kicked off as Houston's startup and innovation ecosystem has switched into second gear. A handful of programs — local and national — have opened applications for accelerators and pitch competitions. Scroll through to find one that applies to your company or a startup you know of. Take careful note of the deadlines since they'll be here before you know it.

Is something missing? Email natalie@innovationmap.com for editorial consideration.

Carbon to Value Initiative

Greentown Labs announced its looking for innovative companies with carbon-related technology. Photo via GreentownLabs.com

Greentown Labs announced that its Carbon to Value (C2V) Initiative has opened applications for its third set of startups.

"Supported by the New York State Energy Research and Development Authority, the C2V Initiative is a unique partnership among the Urban Future Lab at NYU Tandon School of Engineering, Greentown Labs, and Fraunhofer USA that’s driving the creation of a thriving innovation ecosystem for the commercialization of carbontech—technologies that capture and convert CO₂ into valuable end products or services," reads the news release. "Since the C2V Initiative's inception in 2020, the program has supported 18 groundbreaking carbontech startups—chosen from an exceptional pool of more than 230 applications."

The program is looking for companies with technologies within carbon capture, management, removal, or conversion and between TRL 4 and TRL 7. Selected companies will receive a $10,000 stipend and participate in the six-month program.

Applications are due by the end of the day on March 31. For more information and to apply, click here.

MassChallenge accelerators

MassChallenge has two accelerators open for applications. Photo courtesy of MassChallenge

MassChallenge has two programs with open applications:

MassChallenge US Early Stage Accelerator (Deadline: March 3)

This three-month program is industry agnostic and provides intensive support, guidance, tools, and connectivity to the greater MassChallenge community. Around 200 startups are selected per cohort that range in stage from those currently engaged in customer discovery work to validating a technology or service. For more information and to apply, click here.

MassChallenge HealthTech Accelerator (Deadline: February 6)

The 2023 HealthTech Sprint is an eight-week program intended to work intensely with 20 to 25 startups to accelerate the tools and technologies that could transform healthcare. The HealthTech Sprint program is designed to support mid-stage companies that possess a product/solution ready for scaling. For more information and to apply, click here.

Houston Energy Transition Initiative's Energy Ventures Pitch Competition 

HETI is bringing back its CERAWeek pitch competition. Image via houston.org

The Greater Houston Partnership's Houston Energy Transition Initiative, or HETI, is looking for participants for its Energy Ventures Pitch Competition at CERAWeek this year.

"This pitch competition brings together key members of the energy industry, investors, and startups to showcase the critical innovations and emerging technologies that create value from the world’s transition to low-carbon energy systems," reads the website.

HETI is looking for companies addressing challenges and opportunities in CCUS, hydrogen, energy storage, and the circular economy, are invited to present their well-developed business concepts to a world-class investor community.

Applications close February 9. For more information and to apply, click here.

Rice Business Plan Competition

The annual Rice Business Plan Competition has opened applications for student startups. Photo by Natalie Harms

Calling all student-founded startups — the largest and richest intercollegiate student startup competition, the Rice Business Plan Competition, has applications open. According to Rice, 784 RBPC alumni have raised $4.6 billion in funding and created over 5,500 jobs. This year's event is going to be held May 11 to 13.

The RBPC is open to all students from any university around the world. Teams must include at least one graduate-level student, and every team that is invited to compete in person at Rice University is guaranteed to take home at least one of the more that 60 expected cash prizes. For more information and to apply, click here.

Houston expert on the advantages of adopting robotic dog technology

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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.