This week's roundup of Houston innovators includes Armand Paradis of ComboCurve, Matthew Nojoomi of Ictero Medical, and Ryan McCord of McCord Development. Courtesy photos

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from health tech to energy software — recently making headlines in Houston innovation.

Armand Paradis, co-founder of ComboCurve

Armand Paradis joins the Houston Innovators Podcast to discuss how his energy software business is scaling rapidly. Photo courtesy

Houston-based ComboCurve is growing rapidly. The energy software company has raised over $60 million in venture capital investment — $50 million of which was closed in the company’s series B round earlier this year. Since the original product launched in May of 2020, CEO and Co-Founder Armand Paradis says the platform has almost 200 companies on it.

“We built something that resonated with the market — and we were super passionate about the product and taking care of our industry,” Paradis says on the Houston Innovators Podcast. “We don’t want to be the best in oil and gas. We want to be the best software company."Click here to read more.

Matthew Nojoomi, CEO and co-founder of Ictero Medical

This innovative medical device company has closed $6 million for further product development and clinical trials. Image via TMC.edu

Houston-based medical device company Ictero Medical closed its oversubscribed series A at $6 million. The funding round was led by MedTex Ventures, S3 Ventures, and an undisclosed strategic investor. The company's novel cryoablation system was designed to treat high-risk gallstone disease patients and provide a less invasive and lower risk alternative to gallbladder removal surgery — something over 1 million Americans undergo annually.

“Our technology provides an immediate solution for critically ill patients who currently have no good treatment options, and also has the potential to benefit healthier patients who want to avoid surgery,” says Ictero Co-Founder and CEO Matthew Nojoomi in the release. Click here to read more.

Ryan McCord, president of McCord Development

Houston real estate expert shares why he thinks the city is prime for smart city tech and implementation. Photo courtesy

Houston has every tool in its toolkit to be able to emerge as a smart city leader. In a guest column for InnovationMap, Ryan McCord of McCord Development explains the momentum the city already has and the existing smart city opportunities already in town.

"Houston’s diversity, business-friendly environment, and workforce make it a prime candidate to become a smart city. Becoming smarter in our transportation, public safety, sustainability practices, and infrastructure will create a better future for Houstonians." Click here to read more.

Armand Paradis joins the Houston Innovators Podcast to discuss how his energy software business is scaling rapidly. Photo courtesy

Fresh off a $50M series B, fast-growing Houston startup aims to upgrade energy sector tech

Houston innovators podcast episode 132

The energy industry has historically made critical and timely decisions with antiquated and disjointed software, and that just was not ideal for Armand Paradis.

“In our space, all the decisions are expensive,” Paradis tells the Houston Innovators Podcast. “We could go all the way into the billions of dollars making decisions using software from 30 or 40 years ago. I really thought this was a problem.”

Paradis, observing this opportunity in the industry, left his job at Equinor to launch ComboCurve, a comprehensive and more effective software platform for various verticals within the energy industry.

ComboCurve has raised over $60 million in venture capital investment — $50 million of which was closed in the company’s series B round earlier this year. It wasn’t just funding ComboCurve expanded over the past few years. The original product launched in May of 2020 and in 2021, added around 100 companies onto its platform. Now, not even halfway through 2022, almost 200 companies use the software.

“We built something that resonated with the market — and we were super passionate about the product and taking care of our industry,” Paradis says on the podcast.

“We don’t want to be the best in oil and gas. We want to be the best software company,” he continues.

One focus ComboCurve has is on the energy transition. He says energy companies are making moves in lowering their carbon emissions and investing in greener technology — they just might not be talking about it.

“We want to be the role model — the company that’s being super proactive in their environmental practices,” Paradis says. “To be able to do that, you have to be open and proactive about reducing emissions. The other piece is to talk about it.”

At this point, Paradis says we need all energy — fossil fuels, nuclear, renewables, etc. This year, ComboCurve will roll out its GHG, or greenhouse gas, module to help customers track and lower their emissions.

“We are working with a handful of operators working in this space,” he says. “We want to allow for operators to be able to predict their emissions and see the impact on their projects.”




The series B capital will allow the company to enhance its core product, while also adding on other workflows that focus on emissions and renewable energy. Image via combocurve.com

Fast-growing energy fintech startup raises $50M series B

money moves

Houston-based ComboCurve announced today that it has raised $50 million through a series B funding round led by Dragoneer Investment Group and Bessemer Venture Partners.

Founded in 2017, the company is a cloud-based energy analytics and operating platform that uses sophisticated software to forecast and report on a company's energy assets, including renewables.

The series B capital will allow the company to enhance its core product, while also adding on other workflows that focus on emissions and renewable energy.

ComboCurve raised its series A less than six months ago, according to a release. The company was founded by Armand Paradis and Jeremy Gottlieb, who have backgrounds in engineering and finance, respectively.

“ComboCurve was created to solve critical pain points, helping energy companies better manage their forecasting, valuation, reporting and decision-making functions,” Paradis, who also serves as CEO, said in a statement. “Our solution has resulted in widespread adoption by many of the world’s leading energy companies, and this investment led by Dragoneer and Bessemer, two of the world’s leading technology investment firms, will enable us to engage with additional energy companies to operate more efficiently.”

Since the completion of the company's series A, ComboCurve has taken on more than 170 customers, including the likes of Devon Energy and Pioneer Natural Resources, according to ComboCurve's website.

The company describes its platform as a "supercharged Aries but easy to use," referring to the ARIES Petroleum Economic Software by Landmark Solutions, on LinkedIn. The platform provides forecast modules, workflows and fully integrated economics, with GHC and carbon reporting features in the works that will allow users to estimate future emissions.

“ComboCurve is in the early innings of building a truly enduring franchise that is rapidly becoming the software backbone of their customers’ day-to-day operations,” Christian Jensen, partner at Dragoneer Investment Group, said in a statement. “We are excited to partner with Armand and his world-class team as they continue to deepen their suite with existing customers and expand their platform into renewables, emissions reporting, and all corners of the energy market.”

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Houston engineers develop breakthrough device to advance spinal cord treatment

future of health

A team of Rice University engineers has developed an implantable probe over a hundred times smaller than the width of a hair that aims to help develop better treatments for spinal cord disease and injury.

Detailed in a recent study published in Cell Reports, the probe or sensor, known as spinalNET, is used to explore how neurons in the spinal cord process sensation and control movement, according to a statement from Rice. The research was supported by the National Institutes of Health, Rice, the California-based Salk Institute for Biological Studies, and the philanthropic Mary K. Chapman Foundation based in Oklahoma.

The soft and flexible sensor was used to record neuronal activity in freely moving mice with high resolution for multiple days. Historically, tracking this level of activity has been difficult for researchers because the spinal cord and its neurons move so much during normal activity, according to the team.

“We developed a tiny sensor, spinalNET, that records the electrical activity of spinal neurons as the subject performs normal activity without any restraint,” Yu Wu, a research scientist at Rice and lead author of the study said in a statement. “Being able to extract such knowledge is a first but important step to develop cures for millions of people suffering from spinal cord diseases.”

The team says that before now the spinal cord has been considered a "black box." But the device has already helped the team uncover new findings about the body's rhythmic motor patterns, which drive walking, breathing and chewing.

Lan Luan (from left), Yu Wu, and Chong Xie are working on the breakthrough device. Photo by Jeff Fitlow/Rice University

"Some (spinal neurons) are strongly correlated with leg movement, but surprisingly, a lot of neurons have no obvious correlation with movement,” Wu said in the statement. “This indicates that the spinal circuit controlling rhythmic movement is more complicated than we thought.”

The team said they hope to explore these findings further and aim to use the technology for additional medical purposes.

“In addition to scientific insight, we believe that as the technology evolves, it has great potential as a medical device for people with spinal cord neurological disorders and injury,” Lan Luan, an associate professor of electrical and computer engineering at Rice and a corresponding author on the study, added in the statement.

Rice researchers have developed several implantable, minimally invasive devices to address health and mental health issues.

In the spring, the university announced that the United States Department of Defense had awarded a four-year, $7.8 million grant to the Texas Heart Institute and a Rice team led by co-investigator Yaxin Wang to continue to break ground on a novel left ventricular assist device (LVAD) that could be an alternative to current devices that prevent heart transplantation.

That same month, the university shared news that Professor Jacob Robinson had published findings on minimally invasive bioelectronics for treating psychiatric conditions. The 9-millimeter device can deliver precise and programmable stimulation to the brain to help treat depression, obsessive-compulsive disorder and post-traumatic stress disorder.

Houston clean hydrogen startup to pilot tech with O&G co.

stay gold

Gold H2, a Houston-based producer of clean hydrogen, is teaming up with a major U.S.-based oil and gas company as the first step in launching a 12-month series of pilot projects.

The tentative agreement with the unnamed oil and gas company kicks off the availability of the startup’s Black 2 Gold microbial technology. The technology underpins the startup’s biotech process for converting crude oil into proprietary Gold Hydrogen.

The cleantech startup plans to sign up several oil and gas companies for the pilot program. Gold H2 says it’s been in discussions with companies in North America, Latin America, India, Eastern Europe and the Middle East.

The pilot program is aimed at demonstrating how Gold H2’s technology can transform old oil wells into hydrogen-generating assets. Gold H2, a spinout of Houston-based biotech company Cemvita, says the technology is capable of producing hydrogen that’s cheaper and cleaner than ever before.

“This business model will reshape the traditional oil and gas industry landscape by further accelerating the clean energy transition and creating new economic opportunities in areas that were previously dismissed as unviable,” Gold H2 says in a news release.

The start of the Black 2 Gold demonstrations follows the recent hiring of oil and gas industry veteran Prabhdeep Singh Sekhon as CEO.

“With the proliferation of AI, growth of data centers, and a national boom in industrial manufacturing underway, affordable … carbon-free energy is more paramount than ever,” says Rayyan Islam, co-founder and general partner at venture capital firm 8090 Industries, an investor in Gold H2. “We’re investing in Gold H2, as we know they’ll play a pivotal role in unleashing a new dawn for energy abundance in partnership with the oil industry.”

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This article originally ran on EnergyCapital.

3 Houston innovators to know this week

who's who

Editor's note: Every week, I introduce you to a handful of Houston innovators to know recently making headlines with news of innovative technology, investment activity, and more. This week's batch includes an e-commerce startup founder, an industrial biologist, and a cellular scientist.

Omair Tariq, co-founder and CEO of Cart.com

Omair Tariq of Cart.com joins the Houston Innovators Podcast to share his confidence in Houston as the right place to scale his unicorn. Photo via Cart.com

Houston-based Cart.com, which operates a multichannel commerce platform, has secured $105 million in debt refinancing from investment manager BlackRock.

The debt refinancing follows a recent $25 million series C extension round, bringing Cart.com’s series C total to $85 million. The scaleup’s valuation now stands at $1.2 billion, making it one of the few $1 billion-plus “unicorns” in the Houston area.

Cart.com was co-founded by CEO Omair Tariq in October 2020. Read more.

Nádia Skorupa Parachin, vice president of industrial biotechnology at Cemvita

Nádia Skorupa Parachin joined Cemvita as vice president of industrial biotechnology. Photo courtesy of Cemvita

Houston-based biotech company Cemvita recently tapped two executives to help commercialize its sustainable fuel made from carbon waste.

Nádia Skorupa Parachin came aboard as vice president of industrial biotechnology, and Phil Garcia was promoted to vice president of commercialization.

Parachin most recently oversaw several projects at Boston-based biotech company Ginkjo Bioworks. She previously co-founded Brazilian biotech startup Integra Bioprocessos. Read more.

Han Xiao, associate professor of chemistry at Rice University

The funds were awarded to Han Xiao, a chemist at Rice University.

A Rice University chemist has landed a $2 million grant from the National Institute of Health for his work that aims to reprogram the genetic code and explore the role certain cells play in causing diseases like cancer and neurological disorders.

The funds were awarded to Han Xiao, the Norman Hackerman-Welch Young Investigator, associate professor of chemistry, from the NIH's Maximizing Investigators’ Research Award (MIRA) program, which supports medically focused laboratories. Xiao will use the five-year grant to advance his work on noncanonical amino acids.

“This innovative approach could revolutionize how we understand and control cellular functions,” Xiao said in the statement. Read more.