Meet 5 of the fastest-growing scaleup companies in Houston

houston innovation awards

These five scaleups stood out to the judges of the 2024 Houston Innovation Awards. Photo via Getty Images

The 2024 Houston Innovation Awards will feature a new category: Scaleup of the Year, which honors a Bayou City company that's seen impressive growth in 2024.

From biotech companies to decarbonization startups, the inaugural finalists have expanded internationally, moved to larger facilities, completed clinical trials and more. Read on to learn more about these fast-growing startups.

Secure your tickets to the 2024 Houston Innovation Awards next Thursday, November 14, at TMC Helix Park.


Cart.com, a unified commerce and logistics solutions provider for B2C and B2B companies

With the acquisition of Amify, Cart.com has expanded its workforce and grown its suite of services. Photo courtesy of Cart.com

Clinching unicorn status with its 2023 series C raise, Cart.com is on a mission to unify commerce across sales and distribution channels and digital and physical capabilities with its omnichannel enterprise-grade software, services and logistics.

Founded in 2020 with nine acquisitions and $759.2 million raised to date, according to Crunchbase, Cart.com's recent achievements includes acquiring Pacsun’s fulfillment operators, brining a 2 million-square-foot facility online, expanding its executive team, and more.

"In the last 12 months, Cart.com has dramatically grown its fulfillment network’s scale and technological capabilities," writes CEO Omail Tariq in his Houston Innovation Awards application.

"We have been laser-focused on improving quality, performance and efficiency at scale while continuing to aggressively grow our customer base, expand our capabilities to customers in new industries and grow our physical presence to new locations," he continues. "Prioritizing our strategic growth initiatives has been critical in the current macroeconomic environment as profitable growth remains paramount for our team."

In 2021, Cart.com moved its headquarters to Austin, with most of the leadership team remaining in Houston. Two years later, the company announced its HQ return to the Bayou City.

"We've found Houston's business and university communities to be incredibly supportive of our efforts and have found the city to be a place that is both easier and more affordable to bring together our global employee population at more regular intervals," Tariq adds in the app.

Coya Therapeutics, a clinical-stage company developing therapies for neurodegenerative, autoimmune, and metabolic diseases

Houston company with revolutionary neurodegenerative disease treatment shares milestones since IPOCoya Therapeutics rang the closing bell at Nasdaq last week, celebrating six months since its IPO, new data from trials, and additions to its team. Photo via LinkedIn

Revolutionary biotech company Coya Therapeutics Inc. (NASDAQ: COYA) may have closed its IPO in January 2023 for more than $15 million, but the company has made some of its most significant strides in the development of its lead product that prevents the further spreading of neurodegenerative diseases this year.

Known as COYA 302, the product uses a unique dual mechanism that is now being developed for the treatment of Amyotrophic Lateral Sclerosis (ALS), Frontotemporal Dementia (FTD), Parkinson’s disease and Alzheimer’s disease. The company published its phase 1 proof-of-concept study in the peer-reviewed journal Frontiers in Neurology that showed COYA 302's ability to stop clinical progression in ALS at 24 weeks in combination therapy, which helped earn the company a $5 million in strategic investment from the Alzheimer’s Drug Discovery Foundation to continue to develop the product for a planned Phase 2 trial focused on FTD.

Last year the company also added to its C Suite, naming Dr. Arun Swaminathan as chief business officer and Dr. Fred Grossman as president and chief medical officer.

Coya merged with Nicoya Health Inc. and raised $10 million in its series A in 2020.

NanoTech Materials, a chemical manufacturer that integrates novel heat-control technology with thermal insulation, fireproofing, and cool roof coatings to drastically improve efficiency and safety

Growing Houston startup moves into 43,000-square-foot facility amid 'hypergrowth phase'NanoTech Materials celebrated its move into a new facility — a 43,000-square-foot space in Katy, Texas, this week

Mike Francis, co-founder and CEO of NanoTech Materials, told InnovationMap earlier this year that it was in a "hype growth" phase—and meant it.

NanoTech, known for its proprietary Insulative Ceramic ParticleTM (ICP) that uses nanotechnology to optimize energy efficiency and heat control in the built environment, expanded into a new 43,000-square-foot facility this year and tripled its valuation in the last two years, according to its Innovation Awards application. The company also expanded into the Middle East and Singapore and successfully scaled up its NanoTech Cool Roof Coat to commercial markets.

The company closed a $5 million seed round in 2020 and an oversubscribed Series A round last year for $13 million. It was the first company selected for the Houston-based Halliburton Labs in 2021 and joined the Rice Alliance Clean Energy Accelerator in 2023.

Square Robot, an advanced robotics company serving the energy industry and beyond by providing submersible robots for storage tank inspections

Square Robot has a team of 15 in Houston. Photo courtesy\u00a0of Square Robot

Submersible robotics company Square Robot launched its Houston office in 2019 and expanded in the Bayou City this past year.

According to the company's Innovation Award application, the company doubled its fleet of autonomous, submersible robots that service the energy industry, deploying to Malaysia, Vietnam, Thailand, Australia, Kuwait and Saudi Arabia. Its robots are specifically used for storage tank inspections and eliminating the need for humans to enter dangerous and toxic environments.

Square Robot moved to a new, customer-facing Houston facility this year and also developed a new innovative technology that's able to gather phased ultrasonic readings on insulated tank shells while the tank is operational.

The company closed a Series A round in 2018 for $6 million.

Syzygy Plasmonics, a company that's decarbonizing chemical production with a light-powered reactor platform that electrifies the production of hydrogen, syngas, and fuel with reliable, low-cost solutions

Houston climatetech startup selected for inaugural global entrepreneur competitionSyzygy Plasmonics is going to be competing in Gastech's new startup competition. Photo courtesy of Syzygy

Known for the world’s first light-powered reactor cell for industrial chemical reactions, Syzygy Plasmonics began taking orders earlier this year for its Rigel reactor cell after meeting initial performance targets. The cell enables a customer to produce up to five tons of low-carbon hydrogen per day.

The groundbreaking technology earned the company regional, national and global attention. Fast Company magazine placed the company on its energy innovation list. It was also named a finalist for Ernst & Young’s Entrepreneur Of The Year 2024 Gulf South Award and was invited to participate in Gastech's global entrepreneur competition.

The company most recently raised $76 million in a Series C round in 2022.

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8+ can't-miss Houston business and innovation events in January

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Editor's note: Kick off 2026 by hearing insightful talks and making meaningful connections in Houston's innovation scene. From networking workshops to presentations from major industry leaders, here's what not to miss and how to register. Please note: this article may be updated to include additional event listings.

Jan. 13 – Financing the Future

Hear from James Blake, head of capital markets at Fervo Energy, in this informative talk. Blake will cover the current investment landscape for geothermal power, how geothermal projects are structured and the role of policy incentives and innovative financing models in moving the industry forward. A small reception follows.

This event is Tuesday, Jan. 13, from 5:30-7:30 p.m. at the Ion. Register here.

Jan. 13 – Your Path to the Boardroom

Visit Sesh Coworking to hear from Keith Dorsey, an executive advisor and author of The Boardroom Journey, as he shares insights and lessons from hundreds of corporate board members and presents an actionable roadmap for women at every stage of their careers. Dorsey will speak on what "optimal diversity” means in the boardroom, how purpose-driven leaders sustain resilience under relentless pressure and why inclusive leadership is non-negotiable for growth and innovation.

This event is Tuesday, Jan. 13, from 6-8 p.m. at Sesh Coworking. Register here.

Jan. 14 — A Conversation with Dr. Wayne J. Riley on Leading Through Healthcare Transformation

Rice Business Partners will host Dr. Wayne J. Riley, president of SUNY Downstate Health Sciences University, for a moderated discussion with Dean Peter Rodriguez. Riley will share insights on leading complex healthcare organizations in an era of unprecedented industry challenges and reflect on his time at the Jones Graduate School of Business.

This event is Wednesday, Jan. 14, from 6:30-8:30 p.m. at McNair Hall on Rice University's campus. Register here.

Jan. 14 — VDW: Igniting Connections for Startup Success

Entrepreneurial communications instructor Diana Massaro will lead Lilie's latest Venture Development Workshop, focused on soft skills like clear communication, active listening and compelling introductions. Attendees will gain a personalized networking game plan and communication tools to turn casual encounters into meaningful relationships to support their ventures or careers.

This event is Wednesday, Jan. 14, from 6-7:30 p.m. at the Liu Idea Lab for Innovation and Entrepreneurship on Rice University's campus. Register here.

Jan. 21 — Upstream: Digital Tech Meetup

This month's Upstream: Digital Tech Meetup will explore how AI and real-time monitoring are being applied in safety-critical offshore environments, what’s working today, where the biggest gaps remain going into 2026 and how operators and service companies are approaching adoption. Expect to hear from leaders at NOV, Incom Solutions, Timbergrove and others.

This event is Wednesday, Jan. 21, from 8:30-10:30 a.m. at the Ion. Find more information here.

Jan. 22 — HEAD AND HEART: Leading Technology with Humanity While Everything Changes

Hear from Chris Hyams, former CEO of Indeed, at the latest installment of Rice's Master of Engineering Management & Leadership Seminar Series. Hyams will present on the intersection of technology, humanity and change—and how AI is reshaping all three.

This event is Thursday, Jan. 22, at 6 p.m. at Duncan Hall on Rice University's campus. Find more information here.

Jan. 22 – NASA Tech Talk

This month's NASA Tech Talks will feature a special delegation from the UK Science and Technology Network. Expect to hear from a panel of UK space experts, followed by a fireside chat featuring David Alexander, head of the Rice Space Institute, and Meganne Christian, ESA reserve astronaut and senior exploration manager.

This event is Thursday, Jan. 22, from 6-7 p.m. at the Ion. Find more information here.

Jan. 29 – Ignition Hub Startup Career Fair

Lilie will host the Ignition Hub Startup Career Fair this month in partnership with Rice University’s Center for Career Development and Career Development Office. The fair will bring together some of the most innovative, high-growth companies to offer Rice students exciting opportunities. Startups can apply to be considered for the fair. The event is open to Rice University undergraduate, graduate, MBA, and PhD students.

This event is Thursday, Jan. 29, at Grand Hall on Rice University's campus. Find more information here.

Jan. 29 – Health Policy Symposium: Value-Based Care & the Health Care Workforce

The Humana Integrated Health Systems Science Institute at the University of Houston will host its latest Health Policy Symposium this month, focused on the evolving landscape of value-based care and the importance of preparing and strengthening the health care workforce. Hear keynote addresses from leaders at Humana, UH, the American Medical Association and Houston Health Department.

This event is Thursday, Jan. 29, from 11:30 a.m.-1:30 p.m. at the Tilman J. Fertitta Family College of Medicine on Rice University's campus. Find more information here.

Jan. 30 — GHP Annual Meeting

The Greater Houston Partnership's premier event will highlight the region’s progress, honor visionary leadership and set the tone for the year ahead. Hear reflections from outgoing board chair, Gretchen Watkins (former -president of Shell USA); welcome incoming board chair, Armando Perez (EVP of H-E-B Houston); and more

This event is Friday, Jan. 30, from 11:30 a.m.-1:30 p.m. at Hilton Americas. Find more information here.

CPRIT CEO: Houston’s $2B in funding is transforming cancer research and prevention

fighting cancer

With its plethora of prestigious health care organizations like the University of Texas MD Anderson Cancer Center, UTHealth Houston, and the Baylor College of Medicine, Houston sits at the heart of cancer research and prevention in Texas.

Of course, it takes piles of cash to support Houston’s status as the state’s hub for cancer research and prevention. Much of that money comes from the Cancer Prevention and Research Institute of Texas (CPRIT).

Data supplied by CPRIT shows organizations in Harris County gained $2.3 billion in institute funding from 2009 through 2025, or nearly $145 million per year. That represents almost 60 percent of the roughly $4 billion that CPRIT has granted to Texas institutions over a 16-year period.

“The life sciences ecosystem that has developed and changed in Houston is phenomenal,” Kristen Doyle, who became the agency’s CEO in July 2024, tells InnovationMap. “In the next decade, we will look back and see a great transformation.”

That ecosystem includes more than 1,100 life sciences and biotech companies, according to the Greater Houston Partnership.

Houston plays critical role in clinical trials

Texas voters approved the creation of CPRIT in 2007. Twelve years later, voters agreed to earmark an extra $3 billion for CPRIT, bringing the state agency’s total investment in cancer research and prevention to $6 billion.

To date, CPRIT money has gone toward recruiting 344 cancer researchers to Texas (mainly to Houston) and has supported cancer prevention services for millions of Texans in the state’s 254 counties. CPRIT funding has also helped establish, expand, or relocate 25 cancer-focused companies. In Houston, MD Anderson ranks as the No. 1 recipient of CPRIT funding.

Regarding cancer research, Doyle says Houston plays a critical role in clinical trials.

“[Clinical trials are] something that CPRIT has focused on more and more. Brilliant discoveries are crucial to this whole equation of solving the cancer problem,” Doyle says. “But if those brilliant ideas stay in the labs, then we’ve all failed.”

Researchers conduct more clinical trials in Houston than anywhere else in the U.S., the Greater Houston Partnership says.

Doyle, a 20-year survivor of leukemia, notes that a minority of eligible patients participate in clinical trials for cancer treatments, “and that’s one of the reasons that it takes so long to get a promising drug to market.”

An estimated 7 percent of cancer patients sign up for clinical trials, according to a study published in 2024 in the Journal of Clinical Oncology.

MD Anderson takes on cancer prevention

Doyle also notes that Houston is leading the charge in cancer prevention.

“We get some national recognition for programs that have been developed in Houston that then can be replicated in other parts of the country,” she says.

Much of the work in Houston focusing on cancer prevention takes place at MD Anderson. The hospital reports that it has received more than $725 million from the CPRIT since 2007, representing approximately 18 percent of CPRIT’s total awards.

“These efforts can have profound impact on the lives of patients and their families, and this funding ensures our exemplary clinicians and scientists can continue working together to drive breakthroughs that advance our mission to end cancer,” Dr. Giulio Draetta, chief scientific officer at MD Anderson, said in a November news release, following the most recent CPRIT award for the hospital totaling more than $29 million.

CPRIT funding for Houston institutions supplements the more than $4.5 billion in federal funding for health and life sciences research and innovations that the Houston area received from 2020 to 2024, according to the Greater Houston Partnership.

“We are curing cancer every single day,” Doyle says of CPRIT. “Every step that we are taking — whether that’s funding great ideas or funding the clinical trials that are bringing promising drugs to Texas and to the world — we are making a difference.”

Houston energy tech co. breaks ground on low-cost hydrogen pilot plant

Coming Soon

Houston’s Lummus Technology and Advanced Ionics have broken ground on their hydrogen pilot plant at Lummus’ R&D facility in Pasadena, Texas.

The plant will support Advanced Ionics’ cutting-edge electrolyzer technology, which aims to deliver high-efficiency hydrogen production with reduced energy requirements.

“By demonstrating Advanced Ionics’ technology at our state-of-the-art R&D facility, we are leveraging the expertise of our scientists and R&D team, plus our proven track record of developing breakthrough technologies,” Leon de Bruyn, president and CEO of Lummus, said in a news release. “This will help us accelerate commercialization of the technology and deliver scalable, cost-effective and sustainable green hydrogen solutions to our customers.”

Advanced Ionics is a Milwaukee-based low-cost green hydrogen technology provider. Its electrolyzer converts process and waste heat into green hydrogen for less than a dollar per kilogram, according to the company. The platform's users include industrial hydrogen producers looking to optimize sustainability at an affordable cost.

Lummus, a global energy technology company, will operate the Advanced Ionics electrolyzer and manage the balance of plant systems.

In 2024, Lummus and Advanced Ionics established their partnership to help advance the production of cost-effective and sustainable hydrogen technology. Lummus Venture Capital also invested an undisclosed amount into Advanced Ionics at the time.

“Our collaboration with Lummus demonstrates the power of partnerships in driving the energy transition forward,” Ignacio Bincaz, CEO of Advanced Ionics, added in the news release. “Lummus serves as a launchpad for technologies like ours, enabling us to validate performance and integration under real-world conditions. This milestone proves that green hydrogen can be practical and economically viable, and it marks another key step toward commercial deployment.”

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This article originally appeared on EnergyCapitalHTX.com.

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