2 Houston startups announce new execs to their leadership

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Cart.com and Topl — two growing Houston startups — have made strategic appointments. Photos courtesy

A pair of Houston tech startups have recently announced new appointments to their leadership staff. An e-commerce company has a new chief people officer and a blockchain company named a new president to lead commercialization.

Meet Cart.com's new C-suite hire

Sara Patterson is a human resources veteran. Photo courtesy of Cart.com

Houston-based Cart.com, an end-to-end ecommerce services provider, appointed Sara Patterson as chief people officer. She will lead all aspects of the company's talent acquisition and employee experience of the fast-growing startup.

As the company grows its team and its ecommerce-as-a-service platform, it's Patterson job to forge a strong, unified culture and develop a compelling talent acquisition strategy to support continuing growth, according to a press release from Cart.com.

"Sara is one of the most accomplished and experienced HR leaders in the business. She has a real gift for talent management, and unrivaled expertise driving success for fast-growing companies across a wide range of industries," says Omair Tariq, CEO of Cart.com, in the release. "Her experience and dedication are exactly what we need as we forge a unified workforce to support our end-to-end ecommerce platform. After all, we aren't just growing our workforce at record speed. We're also building a unified culture and delivering incredible employee experiences to ensure that our entire team — from office workers to warehouse pickers — can stay laser-focused on our core goal of helping ecommerce brands to thrive."

She has three decades of experience in human resources, including serving as CPO of Lemonade, which included managing over 500 employees. She also worked as vice president of HR and head of talent management at Walmart eCommerce, which had more than 15,000 employees. She has also held senior leadership positions at Bonobos, Tribune Media, Conde Nast, Coach, and Gilt.

"People are the key to success for any growing company, and I'm thrilled to be joining one of the fastest-growing and most transformative companies in the ecommerce space," Patterson says in the release. "Cart.com's leaders have made it clear that they see a strong culture as the key to lasting success, and I couldn't agree more. I'm delighted to be joining such a talented team, and supporting their continuing mission to unlock scalable growth for ecommerce brands."

Here's who will lead commercialization for Topl

Tim Marx has transitioned from adviser to employee at Topl. Photo courtesy of Topl

Tim Marx has joined Topl as president, the company recently announced. Marx will lead Topl's commercialization efforts and scaling. He previously supported the blockchain company as adviser.

A Fulbright Scholar, Stanford MBA, and former Boston Consulting Group partner and managing director, Marx has consulted on the ground in more than 20 countries, including those of Latin America, Europe, and Asia. He will continue to support Baird Capital as a venture partner, which he has since 2018.

"My overall thesis for getting involved in Topl is that I finally saw a really solid business use case versus a classic solution looking for a problem to solve," Marx says.

To learn more about him, read his recent Topl team member blog.

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

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

following the money

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."

Saranas received FDA approval for its Early Bird Bleed Monitoring System in 2019, as well as began its clinical trials. The device is designed to detect and track bleeding complications related to endovascular procedures. These medical procedures treat problems, such as aneurysms, that affect blood vessels. Around 20 percent of patients suffer a bleeding complication during endovascular procedures, like transcatheter aortic valve replacement, endovascular aneurysm repair, and percutaneous hemodynamic support. According to the release, the Early Bird remains the first and only device of its kind.

"As the Saranas team will say, 'Bleeding happens, but complications don't have to,'" says Amy Len Kobe, principal with Baird Capital, in the release. "Baird Capital is proud to partner with Saranas to address bleeding complication challenges and provide solutions that improve outcomes and reduce costs for patients, physicians and providers. We are also pleased to invest in Houston, a growing ecosystem of healthcare innovation and a target market for Baird."

Baird has operated an office locally since 1985, and the venture group has a partnership with the Texas Medical Center since 2018.

S3 Ventures also has an established presence in Houston, and health care technology is one of the three verticals the fund focuses on.

"S3 is enthusiastic about Saranas' game-changing medical device advancements," says Brian R. Smith, managing director of S3 Ventures, in the release. "We invest in companies that are re-imagining the way the world works, lives and heals, and we believe Saranas is a perfect representation of this."

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Houston geothermal unicorn Fervo officially files for IPO

going public

Fervo Energy has officially filed for IPO.

The Houston-based geothermal unicorn filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission on April 17 to list its Class A common stock on the Nasdaq exchange. Fervo intends to be listed under the ticker symbol "FRVO."

The number and price of the shares have not yet been determined, according to a news release from Fervo. J.P. Morgan, BofA Securities, RBC Capital Markets and Barclays are leading the offering.

The highly anticipated filing comes as Fervo readies its flagship Cape Station geothermal project to deliver its first power later this year

"Today, miles-long lines for gasoline have been replaced by lines for electricity. Tech companies compete for megawatts to claim AI market share. Manufacturers jockey for power to strengthen American industry. Utilities demand clean, firm electricity to stabilize the grid," Fervo CEO Tim Latimer shared in the filing. "Fervo is prepared to serve all of these customers. Not with complex, idiosyncratic projects but with a simplified, standardized product capable of delivering around-the-clock, carbon-free power using proven oil and gas technology."

Fervo has been preparing to file for IPO for months. Axios Pro first reported that the company "quietly" filed for an IPO in January and estimated it would be valued between $2 billion and $3 billion.

Fervo also closed $421 million in non-recourse debt financing for the first phase of Cape Station last month and raised a $462 million Series E in December. The company also announced the addition of four heavyweights to its board of directors last week, including Meg Whitman, former CEO of eBay, Hewlett-Packard, and Spring-based HPE.

Fervo reported a net loss of $70.5 million for the 2025 fiscal year in the S-1 filing and a loss of $41.1 million in 2024.

Tracxn.com estimates that Fervo has raised $1.12 billion over 12 funding rounds. The company was founded in 2017 by Latimer and CTO Jack Norbeck.

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This article originally appeared on our sister site, EnergyCapitalHTX.com.

New UT Austin med center, anchored by MD Anderson, gets $1 billion gift

Future of Health

A donation announced Tuesday, April 21, breaks a major record at the University of Texas at Austin. Michael and Susan Dell are now UT Austin's first supporters to give $1 billion. In response, the university will create the UT Dell Campus for Advanced Research and the UT Dell Medical Center to "advance human health," per a press release.

The release also records "significant support" for undergraduate scholarships, student housing, and the Texas Advanced Computing Center for supercomputing research.

Both the new research campus and the UT Dell Medical Center will integrate advanced computing into their research and practices. At the medical center, the university hopes that will lead to "earlier detection, more precise and personalized care, and better health outcomes." The University of Texas MD Anderson Cancer Center will also be integrated into the new medical center.

That comes with a numeric goal measured in 10s: raise $10 billion and rank among the top 10 medical centers in the U.S., both in the next decade.

In the shorter term, the university will break ground on the medical center with architecture firm Skidmore, Owings & Merrill (SOM) "later this year."

“UT Austin, where Dell Technologies was founded from a dorm room, has always been a place where bold ideas become real-world impact,” said Michael and Susan Dell in a joint statement.

They continued, “What makes this moment so meaningful is the opportunity to build something that brings every part of the journey together — from how students learn, to how discoveries are made, to how care reaches families. By bringing together medicine, science and computing in one campus designed for the AI era, UT can create more opportunity, deliver better outcomes, and build a stronger future for communities across Texas and beyond.”

This is the second major gift this year for the planned multibillion-dollar medical center. In January, Tench Coxe, a former venture capitalist who’s a major shareholder in chipmaking giant Nvidia, and Simone Coxe, co-founder and former CEO of the Blanc & Otus PR firm, contributed $100 million$100 million.

Baylor scientist lands $2M grant to explore links between viruses and Alzheimer’s

Alzheimer’s research

A Baylor College of Medicine scientist will begin exploring the possible link between Alzheimer’s disease and viral infections thanks to a $2 million grant awarded in March.

Dr. Ryan S. Dhindsa is an assistant professor of pathology & immunology at Baylor and a principal investigator at Texas Children’s Duncan Neurological Research Institute (Duncan NRI). He hypothesizes that Alzheimer’s may have some link to previous viral infections contracted by the patient. To study this intriguing possibility, the American Brain Foundation has gifted him the Cure One, Cure Many award in neuroinflammation.

“It is an honor to receive this support from the Cure One, Cure Many Award. Viral infections are emerging as a major, underappreciated driver of Alzheimer's disease, and this award will allow our team to conduct the most comprehensive screen of viral exposures and host genetics in Alzheimer's to date, spanning over a million individuals,” Dhindsa said in a news release. “Our goal is to identify which viruses matter most, why some people are more vulnerable than others, and ultimately move the field closer to new therapeutic strategies for patients.”

Roughly 150 million people worldwide will suffer from Alzheimer’s by 2050, making it the most common cause of dementia in the world. Despite this, scientists are still at a loss as to what exactly causes it.

Dhindsa’s research is part of a new range of theories that certain viral infections may trigger Alzheimer’s. His team will take a two-fold approach. First, they will analyze the medical records of more than a million individuals looking for patterns. Second, they will analyze viral DNA in stem cell-derived brain cells to see how the infections could contribute to neurological decay. The scale of the genomic data gathering is unprecedented and may highlight a link that traditional studies have missed.

Also joining the project are Dr. Caleb Lareau of Memorial Sloan Kettering Cancer Center and Dr. Artem Babaian of the University of Toronto. Should a link be found, it would open the door to using anti-virals to prevent or treat Alzheimer’s.

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