Greentown Labs names new CEO to oversee Houston, Boston incubators

seeing green

Kevin Knobloch will lead Greentown Labs as CEO. Photo via LinkedIn

The largest climatetech incubator in North America has named an Obama Administration appointee as its next CEO.

Kevin Knobloch, who served as chief of staff of the United States Department of Energy in President Barack Obama’s second term, will be CEO of Greentown Labs, effective September 5. In his role, Knobloch will oversee both Greentown locations in Houston and Somerville, Massachusetts, outside of Boston.

“Kevin has a proven and impressive track record of growing, operationalizing, and leading a dynamic mix of organizations at different stages and in various industries, all of which have aligned with his unwavering commitment to addressing the climate crisis,” Greentown Labs Board Chair Dawn James says in a news release. “On behalf of the entire Board of Directors, I am thrilled to welcome Kevin as our next CEO. We are excited for what is to come under Kevin’s leadership and look forward to the positive impact he will undoubtedly have on our team, our startup community, and the ecosystem at large.”

With 30 years of experience across sectors, Knobloch most recently served as president of Knobloch Energy, an independent advisory and consulting firm. He also served as acting executive director of the National Offshore Wind Research & Development Consortium from June through December 2022. From 2018 to 2020, Knobloch was president of New York OceanGrid LLC, where he led Anbaric’s efforts to develop offshore wind transmission in New York.

“I’m honored and thrilled to have the opportunity to once again pass the leadership baton,” Greentown Co-Founder Jason Hanna says, who has been serving as interim CEO. “Especially so given Kevin’s incredible record of climate leadership. I’m excited for the future of this organization and the impact he can make as Greentown enters the second decade of its climate mission.”

The appointment follows an executive search that began after Greentown's previous CEO Emily Reichert announced she was stepping down in December.

“I’m delighted to be asked by Greentown Labs’ Board of Directors to be the next leader of this highly effective organization—and very excited to get to work,” Knobloch says in a statement. “I’ve long admired the critical role Greentown plays in supporting the growth and impact of early-stage climate and energy transition technology companies, as well as the impressive efforts by former longtime CEO Emily Reichert and the talented Board and staff to build Greentown into a national powerhouse and model for other incubators around the world. The climate crisis demands that we accelerate our collective pace of deployment and I look forward to collaborating with our startups, staff, and partners to support that acceleration.”

The announcement comes on the heels of Greentown naming its inaugural Houston general manager. Timmeko Moore Love was named to that new position last week.

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Greentown Houston names Timmeko Moore Love as inaugural general manager. Photo courtesy of Greentown

Houston climatetech hub names new leader

taking charge

Greentown Houston has a new leader at its helm.

The climatetech incubator, dual located in Houston and Somerville, Massachusetts, has named Timmeko Moore Love as Houston general manager and senior vice president of Greentown Labs. She'll lead Greentown Houston’s team and business operations, while growing the location's membership.

“We are thrilled to have Timmeko joining our leadership team,” says Jason Hanna, co-founder and interim CEO of Greentown Labs, in a news release. “Her wealth of experience will be instrumental in helping Greentown Houston maximize its impact through operational excellence, while inspiring and accelerating climate entrepreneurship from the energy capital of the world.”

Love has 20 years of experience in innovation management, per the news release, and was the first Black woman at a Fortune 500 to lead a venture capital program. In that role, which was at The Woodlands-based Entergy Corp., she was named to the 2020 Global Corporate Venturing Powerlist. Love also oversaw corporate ventures at Mayo Clinic and Best Buy Capital.

“Greentown Labs is committed to ensuring founders’ success and is an agent of action in the fight against climate change,” says Love in the release. “I am excited to continue my service to the Greater Houston climate innovation ecosystem through this esteemed platform, and partner internally and externally to evolve and expand our services and programs.”

Juliana Garaizar, who originally joined Greentown as launch director ahead of the Houston opening in 2021, previously oversaw the day-to-day operations of Greentown Houston. In January, she was promoted from vice president of innovation to chief development and investment officer. She shared with InnovationMap that Greentown was looking to hire its first Houston manager.

"Now that we are more than 80 members, we need more internal coordination," she told InnovationMap at the time. "Considering that the goal for Greentown is to grow to more locations, there's going to be more coordination and, I'd say, more autonomy for the Houston campus."

Greentown Labs is currently undergoing a search for its next CEO to succeed Emily Reichert, who stepped down in December.

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This article originally ran on EnergyCapital.

Juliana Garaizar is now the chief development and investment officer at Greentown Labs, as well as continuing to be head of the Houston incubator. Image courtesy of Greentown

Climatetech incubator announces C-suite promotion, Houston jobs, and nonprofit transition

greentown updates

The new year has brought some big news from Greentown Labs.

The Somerville, Massachusetts-based climatetech incubator with its second location at Greentown Houston named a new member to its C-suite, is seeking new Houston team members, and is in the process of transitioning into a nonprofit.

Juliana Garaizar, who originally joined Greentown as launch director ahead of the Houston opening in 2021, has been promoted from vice president of innovation to chief development and investment officer.

"I'm refocusing on the Greentown Labs level in a development role, which means fundraising for both locations and potentially new ones," Garaizar tells InnovationMap. "My role is not only development, but also investment. That's something I'm very glad to be pursuing with my investment hat. Access to capital is key for all our members, and I'm going to be in charge of refining and upgrading our investment program."

While she will also maintain her role as head of the Houston incubator, Greentown Houston is also hiring a general manager position to oversee day-to-day and internal operations of the hub. Garaizar says this role will take some of the internal-facing responsibilities off of her plate.

"Now that we are more than 80 members, we need more internal coordination," she explains. "Considering that the goal for Greentown is to grow to more locations, there's going to be more coordination and, I'd say, more autonomy for the Houston campus."

The promotion follows a recent announcement that Emily Reichert, who served as CEO for the company for a decade, has stepped back to become CEO emeritus. Greentown is searching for its next leader and CFO Kevin Taylor is currently serving as interim CEO. Garaizar says the transition is representative of Greentown's future as it expands to a larger organization.

"Emily's transition was planned — but, of course, in stealth mode," Garaizar says, adding that Reichert is assisting in the transition process. "She thinks scaling is a different animal from putting (Greentown) together, which she did really beautifully."

Garaizar says her new role comes alongside Greentown's return to nonprofit status. She tells InnovationMap that the organization originally was founded as a nonprofit, but converted to a for-profit in order to receive a loan at its first location. Now, with the mission focus Greentown has and the opportunities for grants and funding, it's time to convert back to a nonprofit, Garaizar says.

"When we started fundraising for Houston, everyone was asking why we weren't a nonprofit. That opened the discussion again," she says. "The past year we have been going through that process. ...I think it's going to open the door to a lot more collaboration and potential grants."

Greentown is continuing to grow its team ahead of planned expansion. The organization hasn't yet announced another location — Garaizar says the primary focus is filling the CEO position first. In Houston, the hub is also looking for an events manager to ensure the incubator is providing key programming for its members, as well as the Houston innovation community as a whole.

Rice University and Houston Methodist have teamed up to fund life science research — and more Houston innovation news you need to know. Image courtesy of Rice

Houston health startups make most promising list, clean energy co. wins award, and more news

short stories

Houston startup news has still been full speed ahead, despite the year coming to a close, and there might be some headlines you may have missed.

In this roundup of short stories within Houston startups and tech, a climatetech leader steps down, two digital health companies have been recognized internationally, and more.

Two Houston startups land on most-promising health tech list

Houston has some representation on this year's Digital Health 150. Image via CB Insights

CB Insights released The Digital Health 150, an annual ranking of the 150 most promising digital health startups in the world, last week and two Houston companies made the cut. Houston-based companies Koda Health and Starling Medical were two of the eight Texas startups on the list.

Founded in 2020, Koda Health is a B2B Enterprise SaaS solution that guides patients through the process of proactive healthcare planning and document authentication. The company has been expanding its service across the country this year following a seed round of funding in February.

"Each year, 150 winners are selected from a pool of over 13,000 companies," Koda's CEO and Co-Founder Tatiana Fofanova tells InnovationMap. "Honorees have quickly become industry titans and household names, so we were honored — and frankly, surprised! — to be recognized in this year's group of honorees.

"I've personally taken inspiration from the Digital Health 150 for years now ± these are people and companies we've emulated and aspired to — so to see the Koda Health logo on there was incredibly affirming," she continues.

Starling Medical is using AI and telehealth enabled medical devices to enable millions with bladder dysfunctions to be able to urinate safely and conveniently again. The company has been named most promising by the Rice Alliance as well, and a top 10 company by MassChallenge.

Optellum, a United Kingdom-based company focused on lung cancer diagnostics, also made the list. They have their United States-based operations in Houston. Additionally, seven startups on the list — Babyscripts, Cerebriu, Iterative Health, Kintsugi, Mindtrace, Redox, and Lightbeam — have ties to TMC.

This is the fourth annual Digital Health 150, and this new cohort has already raised approximately $5.6 billion in aggregate funding across 378 deals since 2017, according to CB Insights.

Houston startup snags win at the 'Oscars' of energy industry

Syzygy Plasmonics was recognized for being an outstanding energy transition company. Photo via LinkedIn

At the 24th annual Platts Global Energy Awards gala, S&P Global Commodity Insights honored industry excellence across 19 categories. Described as the "Oscars" of energy, the program "recognizes corporate and individual innovation, leadership, and performance in the energy and petrochemicals industry," according to a news release.

"We are proud to recognize the leadership and innovation of this year's finalists and winners of the Platts Global Energy Awards," says Saugata Saha, president of S&P Global Commodity Insights, in the release. "These companies have demonstrated a commitment to excellence while serving customers and enabling a balanced energy transition, a key area of focus for the industry and our teams at S&P Global Commodity Insights."

Houston-based alternative energy company, Syzygy Plasmonics, took home a win for the "Energy Transition Technology of the Year Award." Syzygy, which recently raised a $76 million series C round, has a technology that harnesses the power of light to energize chemical reactions — rather than the traditional process that is fueled by heat. The Syzygy approach reduces feedstock waste and produces fewer emissions when powered by renewable electricity.

Greentown Labs CEO steps down

In her capacity as Greentown Labs CEO, Emily Reichert cut the ribbon on Greentown Houston over a year and a half ago. Photo by Lee Bond/Greentown Labs

The leader of Somerville, Massachusetts-based Greentown Labs, which has its only other location in Houston, has stepped down after a decade at the helm of the climatetech incubator.

In an email to the Greentown Labs community, Emily Reichert confirmed that she has stepped down as CEO and will remain involved as "CEO Emeritus." The organization's CFO, Kevin Taylor, has picked up more leadership responsibilities in the interim.

"As I hand the baton off to the next leader of Greentown Labs, I’m confident in our community’s ability to continue making an enormous impact deploying climatetech solutions and our team’s ability to continue growing Greentown to be an ever-more-impactful space for climatetech entrepreneurs and collaborators," Reichert says in the email.

Rice backs new research collaborations with Houston Methodist

Rice University and Houston Methodist have again teamed up to support life science research. Photo via rice.edu

Two Houston organizations — Rice University and the Houston Methodist Academic Institute — have created a seed grant program and awarded grants for research in robotics, imaging, cardiovascular bioengineering, and more. Twenty multi-year projects will be supported by both Houston Methodist and Rice, according to a news release.

It's the third collaborative program between the two organizations in less than two years.

“Our collaborations with Houston Methodist will impact human health and wellness, foster new research opportunities and advance our understanding of diseases," says Rice Provost Amy Dittmar in a news release.

The projects within the nursing category have not been announced, but the awards for the other categories have been named online.

Greentown Labs announced its latest accelerator program — this one is focused on DEI in clean energy innovation. Photo via GreentownLabs.com

Greentown Houston announces co-located accelerator for energy innovators of color

browning the green space

Greentown Labs has announced its latest accelerator program that will be co-located in both its Houston and Boston-area spaces.

In partnership with Browning the Green Space, Greentown Labs has officially launched the Advancing Climatetech and Clean Energy Leaders Program, or ACCEL, and is seeking applications from climatetech entrepreneurs who identify as Black, Indigenous, and/or People of Color.

The startups accepted into the year-long program will receive a curated curriculum, incubation at one of the Greentown locations, and mentorship from its large network of energy professionals. Each participant will also receive a non-dilutive $25,000 grant. Applications for ACCEL are open now and are due by Dec. 23

“We need all hands on deck to solve the climate crisis and foster a just energy transition,” says Emily Reichert, CEO of Greentown Labs, in a news release. “We are proud to partner with Browning the Green Space on this important program, and are eager to support more underrepresented founders through ACCEL to help build a more diverse, inclusive, and equitable climatetech industry.”

BGS is a nonprofit that is focused on making clean energy other climate-related fields more diverse, equitable, and inclusive. The organization is headquartered in Boston.

“We are excited to work in partnership with Greentown Labs to build critical support infrastructure for entrepreneurs of color and accelerate the equitable development and distribution of climate solutions across all communities,” says Kerry Bowie, executive director and president of Browning the Green Space, in the release. “ACCEL will help us move closer to where we all should be collectively, and create the opportunity to change the face of clean energy as we know it.”

The new program is also supported the Massachusetts Clean Energy Center, a state economic development agency dedicated to accelerating the growth of the clean energy sector across the Commonwealth, and then Boston-based Barr Foundation, a foundation with a regional focus, working in partnership with partners to elevate the arts, advance solutions for climate change, and connect all students to success in high school and beyond, per the news please.

“The Barr Foundation’s climate program has made a commitment to centering racial equity in the energy transition,” says Kathryn Wright, senior program officer of Clean Energy at The Barr Foundation, in the release. “We are excited to support this crucial opportunity to provide education and mentorship for underrepresented climate entrepreneurs in our region. We look forward to seeing the impact of the ACCEL program in the coming years.”

The curriculum for ACCEL will be led by Hadley, Massachusetts-based VentureWell, a nonprofit that funds and trains innovators to create successful, socially beneficial businesses. Applicants may be based anywhere in the world, but will be expected to attend in-person elements of the program at either Greentown Boston or Greentown Houston.

Greentown Houston's Juliana Garaizar and Emily Reichert look back on the climatetech incubator's first year. Photos via greentownlabs.com

How Greentown Houston accelerated the local energy transition in its inaugural year

q&a

This Thursday, Greentown Houston officially celebrates the completion of its first year in town, as well as the impact its made in just the 365 days since its grand opening.

Emily Reichert, CEO of Greentown Labs, officially cut the ribbon on the organization's first location outside of the Boston area last Earth Day. Reichert, along with Juliana Garaizar, head of the Houston incubator and vice president of innovation, joined InnovationMap for a Q&A looking back on this past year — including what surprised them most and where members are moving in from.

Greentown Houston's anniversary event is Thursday, April 21, from 1 to 7 pm, at Greentown Houston (4200 San Jacinto St.) or livestreaming online. Click here to learn more.

InnovationMap: Looking back on the first year of Greentown Houston, what was the thing that most surprised you about the process and the community you created here?

Juliana Garaizar: What really surprised me the most was the eagerness to be a part of Greentown. We were very surprised by the pandemic — it caught us in, in the middle of fundraising and we thought things were gonna slow down and actually it became sort of a of a blessing in disguise for the community here in Houston. The Boston community had to go virtual, and then when they did, we realized that we were much more connected to the Boston team, but also why can't we offer the same services to the Houston community since we didn't have a building yet anyway. That created a huge opportunity to convene a community even before our building. We had these early access members and when we finally opened our building, they all converted to in-person members because they had already felt what the community could bring. In Boston, they took a little longer to fill in the space at opening, but we came in at grand opening with our inaugural member list in Houston — all of them super eager to join us. That conversion happened so fast happened because of the virtual aspect of COVID.

Emily Reichert: For me, there were really three things that were surprising. Throughout the whole process of building the momentum towards Greentown Houston and from the very first meetings I had with the GHP and potential supporters of a future Greentown Labs, there was this warmth of welcome. I can't compare it to anything else. Houston just really embraced this opportunity, embraced Greentown labs, and embraced our team — as well as really embracing having a climate tech incubator located in what has traditionally been called the oil and gas capital of the world. I just wanna note that that is very meaningful and it just shows that when Houston gets behind something, Houstonians go all the way they are committed and they take action. And we just felt that from the very beginning,

Second, I think that the momentum of the energy transition itself surprised us, but also felt it felt to us like we were riding a wave that wasn't just about Greentown Houston. It was about all of these different businesses, business leaders civic leaders, and just general citizenry in Houston understanding that the future of energy is different than the past of energy. And that, that was something that was going to need to happen more quickly than folks had anticipated. And again, I feel like Houstonians are leaning into it and thinking about, "well, if we've been the energy capital of the world, can we now be the energy transition capital of the world and how do we do that?" The speed with which this transition is happening is just incredible. And, increasingly in the circles that I move in outside of Houston, people know about it. It's changing the outside perspective as well. That's been really exciting to see.

Finally, the amount of talent that exists in the energy industry and in general in Houston and in the local universities that can be deployed and is interested in being deployed in climate tech and addressing climate change and the energy transition — it's really remarkable. Whenever we have a job posting out there for Greentown Houston, we are getting a lot of applicants. And now when we're going to universities to engage with students around — whether they're interested in building a startup that could address a challenge in the energy transition — it's just overwhelming the interest, the excitement, and the level of talent that I think is going to be available to apply to this energy transition that Houston can absolutely lead.

IM: Greentown Houston has not only attracted Houston-based companies, but also companies outside of Houston that want to be able to take advantage of Greentown Labs and the support there. You have both virtual and in-person membership options. Tell me a little bit about how that came to be.

JG: This was something also that the pandemic exacerbatedAgain, if you compare Boston to Houston — Boston is much more difficult to find prototyping lab space and wet labs. I would say that the cost of space is much higher there than in Houston. You there's plenty of space available for coworking, for prototyping, but the connection services to the whole ecosystem, to investors, to corporate partners, to universities to mentors — all that is key for our startups. And that means that space takes a second place. That's what we've seen. Member companies from Austin join Greentown Houston because they are connecting to a community that is more like hard tech driven and less software driven than in Austin. They wanna connect to the customers and the pilots, right? Even some of our Boston companies have moved or at least established a presence in Houston. There's also the diversity aspect that Houston is the most diverse city in the U,S. There are plenty of companies from Latin America coming over and choosing Houston as a landing pad and choosing Greentown as the place to start settling. We help them with funding. We help them with hiring local people.

IM: As you mentioned, Greentown Houston's membership grew really fast — how did you grow your team to support that?

JG: Our Houston team has quadrupled since last year and, and that's a lot — we were three and now we are 12, but we also had the whole Boston team behind us. The way we did it was through this matrix model where our team members report to someone in Boston. And although it creates an extra layer of complexity I think it was perfect for such a rapid growth because we were able to download the DNA of Greentown Boston to Houston at a much faster pace. We thought it was very important for us to distill that DNA but without forgetting about also having local people in Houston. It was the best of both worlds.

ER: We really needed to have the Houston local knowledge embedded, just like we needed to have the way that things have been done in Boston embedded. But I think as we look forward from now, you're going to increasingly see that we have embedded a lot of the practices and ways of doing things that we've done in Boston, but we're doing them with a Houston flavor, and we are doing them in a way that meets the local needs. And I think that you will see as we grow and continue to evolve, that we're gonna take our learnings from being in Houston and continue to evolve what we doin Houston. Our mission is to create an inclusive community and to convene connect, and inspire entrepreneurs and ecosystems to address climate solutions — and that's going to be the same in both locations. But how we do those specific pieces, I think will be a bit different. Now, Houston is a young ecosystem in terms of climate tech, so that convening piece is a little bit different from how we have done it in Boston.

IM: What's next for Greentown Houston — and what's next for the energy transition in Houston?

JG: For Greentown Houston we've figured out that our members need different things, and we wanna make sure that we listen and we adapt to them. It seems that a wet lab might be a need that we need to incorporate. So we're trying to figure out how, how to do that. We're growing at a much faster pace than Greentown Boston did, of course, because of the timing of the energy transition. That means that we need to think about, about expansion. We've become the convener place for climate tech.

In general in Houston for the energy transition, there's gonna be three pillars that I think are very important and that Greentown has to be apart of. One of them is the workforce development and the transition of the workforce. We're working with key partners like the Greater Houston Partnership and the Houston Energy Transition Initiative, and we're putting together a program with universities to make sure that we also extract the, the entrepreneurs of tomorrow to Greentown and to the energy transition capital.

The second aspect os access to capital there's a lot of capital of available in Houston and a lot of capital in general being poured into climate tech, but we need to make sure it comes earlier. We are very early on, and there's still a gap there for early stage investing. I think one of the key elements to be able to unlock that capital early is to make sure that our companies have pilots and demonstration at corporations.

I think the third part for the energy transition in Houston is unlocking the potential capabilities we already have, like in hydrogen by trying to become a hydrogen hub. And that will only happen if we all work together. So I think Greentown also has to play a role there of convening.

ER: Continuing to support entrepreneurs in Houston to really bring talent in, to not only help our entrepreneurs build their companies, but in general into the energy transition and climate that's something that will be leaning into the deployments of the technology at scale. That's something that Houston can uniquely do.

IM: What can people expect from both the livestream and the in-person event on Thursday?

ER: We're gonna have some great voices on that from across industry, and we are going to be showcasing our startups, both through pitches and then through a startup showcase where folks will be able to see and touch or at least talk to our entrepreneurs and learn about their companies and the opportunities to support them. I believe there will be a few other surprises, which I won't reveal.

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This conversation has been edited for brevity and clarity.

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15+ startups fueling Houston's $1 billion funding haul for Q1-Q2 2026

cha-ching

Houston startups started 2026 strong, bringing in nearly $1 billion in venture capital in the first half of the year, Pitchbook data shows.

Here are 17 Houston companies that secured funding since January, according to reporting by InnovationMap and our sister site, EnergyCapitalHTX.com.

Did we miss a funding round? Let us know by emailing innoeditor@innovationmap.com.

Sage Geosystems

Sage Geosystems raised a $97 million Series B. Photo via sagegeosystems.com.

Houston-based geothermal energy startup Sage Geosystems closed its Series B fundraising round in January and plans to use the money to launch its first commercial next-generation geothermal power generation facility.

Ormat Technologies and Carbon Direct Capital co-led the $97 million round, according to a press release from Sage. Existing investors Exa, Nabors, alfa8, Arch Meredith, Abilene Partners, Cubit Capital and Ignis H2 Energy also participated, as well as new investors SiteGround Capital and The UC Berkeley Foundation’s Climate Solutions Fund.

The new geothermal power generation facility will be located at one of Ormat Technologies' existing power plants. The Nevada-based company has geothermal power projects in the U.S. and numerous other countries around the world. The facility will use Sage’s proprietary pressure geothermal technology, which extracts geothermal heat energy from hot dry rock, an abundant geothermal resource. Continue reading.

TrueLeap Inc.

Sandip Bordoloi and Sunny Zhang, founders of True Leap Inc. Photo via trueleapinc.com.

Houston-based edtech company TrueLeap Inc. closed an oversubscribed seed round in January.

The $3.3 million round was led by Joe Swinbank Family Limited Partnership, a venture capital firm based in Houston. Gamper Ventures, another Houston firm, also participated with additional strategic partners.

TrueLeap reports that the funding will support the large-scale rollout of its "edge AI, integrated learning systems and last-mile broadband across underserved communities." Continue reading.

Wellysis

Wellysis is known for its continuous ECG/EKG monitor with AI reporting, known as the S-Patch. Photo via wellysis.com.

Wellysis, a Seoul, South Korea-headquartered wearable biosensing company with its U.S. subsidiary based in Houston, closed a $13.5 million pre-IPO funding round in February and plans to expand its Texas operations.

The round was led by Korea Investment Partners, Kyobo Life Insurance, Kyobo Securities, Kolon Investment and a co-general partner fund backed by SBI Investment and Samsung Securities, according to a news release.

Wellysis reports that the latest round brings its total capital raised to about $30 million. The company is working toward a Korea Securities Dealers Automated Quotations listing in Q4 2026 or Q1 2027.

Wellysis is known for its continuous ECG/EKG monitor with AI reporting. Its lightweight and waterproof S-Patch cardiac monitor is designed for extended testing periods of up to 14 days on a single battery charge. Continue reading.

DexMat

DexMat plans to use its seed funding to commercially scale Galvorn, its carbon-based conductive fiber. Photo courtesy DexMat

Houston-based material science and climatech startup DexMat closed a $5 million seed round in February.

The round was led by non sibi ventures, with participation from Governance Partners, Tailwind Futures, BetterWay, Capital Factory and other investors. The company additionally announced that it has secured $3 million of non-dilutive funding.

DexMat plans to use the recent round to commercially scale Galvorn, its carbon-based conductive fiber. The high-performance copper alternative, originally developed at Rice University, is made from carbon nanotube (CNT) fibers, which are less energy- and CO2-intensive to produce. Continue reading.

Coya Therapeutics

Houston biotech co. raises $11M to advance ALS drug development

Coya Therapeutics plans to scale up manufacturing and prepare for the commercialization of COYA 302, its ALS therapy drug. Photo via Getty Images

Houston-based clinical-stage biotechnology company Coya Therapeutics (NASDAQ: COYA) closed a $11.1 million in a private investment round in February.

India-based pharmaceuticals company Dr. Reddy’s Laboratories Inc. led the round with a $10 million investment, according to a news release. New York-based investment firm Greenlight Capital, Coya’s largest institutional shareholder, contributed $1.1 million.

Coya reports that it plans to use the proceeds to scale up manufacturing of low-dose interleukin-2 (IL-2), which is a component of its COYA 302 and will support the commercial readiness of the drug. COYA 302 enhances anti-inflammatory T cell function and suppresses harmful immune activity for treatment of Amyotrophic Lateral Sclerosis (ALS), Frontotemporal Dementia (FTD), Parkinson’s disease and Alzheimer’s disease. Continue reading.

Utility Global

Utility Global’s H2Gen technology aims to decarbonize the heavy industrial sector. Photo courtesy of Utility Global

Houston-based Utility Global raised $100 million in an ongoing Series D round to globally deploy its decarbonization technology at an industrial scale, the company reported in February.

The round was led by Ara Partners and APG Asset, according to a news release. Utility plans to use the funding to expand manufacturing, grow its teams and support its commercial developments and partnerships.

Utility Global's H2Gen technology produces low-cost, clean hydrogen from water and industrial off-gases without requiring electricity. It's designed to integrate into existing industrial infrastructure in hard-to-abate assets in the steel, refining, petrochemical, chemical, low-carbon fuels, and upstream oil and gas sectors. Continue reading.

Cart.com

Cart.com raised $180 million to scale its logistics network, expand AI capabilities and develop workflow automation tools. Photo courtesy of Cart.com

Houston-based commerce and logistics platform Cart.com raised $180 million in growth capital from private equity firm Springcoast Partners, pushing the startup past the $1 billion funding mark since its founding in 2020, the company reported in March.

Cart.com says it will use the capital to scale its logistics network, expand AI capabilities and develop workflow automation tools. Continue reading.

Artemis

Houston-based Artemis, formerly Monalee, closed its latest funding round in March. Rendering courtesy Artemis.

Houston tech startup Artemis raised $6 million from 10 investors, it reported in March. The company offers an AI-supported platform that enables solar, battery storage and home improvement contractors to design, sell and finance energy projects.

Long Journey and Copec WIND Ventures co-led the round, with participation from angel investor Scott Banister, Coalition Operators, FJ Labs, Ludlow Ventures, Palm Tree Crew, Plug and Play Ventures, Shrug Capital and Tribeca Ventures.

To help propel growth, the company secured $10 million in financing last year (under its previous name, Monalee) from venture debt and growth credit provider Applied Real Intelligence. As Monalee, the company raised $16 million in venture capital. Continue reading.

Helix Earth

Helix Earth's technology is estimated to save up to half of the net energy used in commercial air conditioning, reducing both emissions and costs for operators. Photo via Getty Images

Houston-based Helix Earth Technologies closed a $12 million Seed 2 funding round to scale manufacturing of its energy-efficient commercial HVAC add-on technology in April.

Veriten, a Houston-based energy investment firm, led the round. Rua Ventures, Carnrite Ventures, Skywriter LLC and Textbook Ventures also participated.

Helix Earth—which was founded based on NASA technology, spun out of Rice University and has been incubated at Greentown Labs—is developing high-efficiency retrofit dehumidification systems that aim to reduce the energy consumption of commercial HVAC units. The company reports that its technology can lead to "healthier indoor air, lower energy bills, reduced building maintenance, and more comfortable spaces for building owners and occupants." Continue reading.

NanoTech Materials

The company has developed thermal insulation technology that improves efficiency and safety in buildings and outdoor infrastructure. Photo via LinkedIn

Houston-based NanoTech Materials closed a $29.4 million Series A in April.

The round was led by Austin-based HPI Real Estate & Investments. Houston-based Goose Capital and Austin-based Milliken & Company also participated.

Nanotech has developed its patented Insulative Ceramic Particle (ICP) technology, which reduces heat transfer in buildings and outdoor infrastructure, improving efficiency and safety. It's known for its Cool Roof Coat, Wildfire Shield and Insulative Coat: Cool Touch product lines. Continue reading.

Paige

Paige founder and CEO Emily Cisek. Photo courtesy Paige

Houston-based Paige, a comprehensive life planning and succession software company, secured a $2.5 million investment to expand the AI-driven tools on its platform this spring.

The funding comes from Alabama-based 22nd State Banking Company, according to a news release. Paige says it will use the funding to expand automation, AI-driven onboarding and self-service tools, as well as add to its sales and customer success teams.

The company was originally founded by CEO Emily Cisek in 2020 as The Postage and rebranded to Paige last year. It helps users navigate and organize end-of-life planning with features like document storage and organization, password management, and funeral and last wishes planning. Continue reading.

Ace Green Recycling

The company plans to use the funds to support its flagship Texas facility and planned merger. Photo via LinkedIn

Houston-based Ace Green Recycling raised $32 million in private investment in public equity (PIPE) financing to support its future plans for growth, the company reported in May.

The battery recycling technology company secured the financing with Athena Technology Acquisition Corp. II, a publicly traded special purpose acquisition company that Ace previously announced it plans to merge with. Once the merger is completed, Ace will become a publicly traded company on the Nasdaq Stock Exchange under the ticker symbol "AGXI."

Ace says the financing will be used to complete the merger and scale the company. Continue reading.

Casimir

Casimir’s semiconductor chips can generate power from quantum vacuum fields without the need for batteries or charging. Photo via casimir.inc

Houston-based Casimir emerged from stealth in May with a $12 million seed round to commercialize its quantum energy chip.

The round was led by Austin-based Scout Ventures. Lavrock Ventures, Cottonwood Technology, Capital Factory, American Deep Tech, and Tim Draper of Draper Associates also participated in the round. The oversubscribed round exceeded the company’s original $8 million target, according to a news release.

Casimir’s semiconductor chips can generate power from quantum vacuum fields without the need for batteries or charging. The company plans to commercialize its first-generation MicroSparc chip by 2028. Continue reading.

VoltaGrid

VoltaGrid has developed a modular power generation system that improves reliability and limits emissions. Photo via voltagrid.com

Houston-based power generation startup VoltaGrid nailed down a $1 billion equity investment from asset management heavyweight Blackstone and Houston-based oilfield services provider Halliburton in May.

The investment came in two forms:

  • A $775 million primary capital raise
  • A $225 million secondary capital purchase from existing investors

VoltaGrid, founded in 2020, provides behind-the-meter mobile power generation equipment for data centers, microgrids and industrial customers. Continue reading.

Aquanta Vision

Babur Ozden is the founder and CEO of Aquanta Vision. Photo via LinkedIn

Houston climatech startup Aquanta Vision secured pre-seed funding to accelerate the commercialization of its methane leak detection software, the company announced in May.

EIC Rose Rock participated in the round, joining investors like Marathon Petroleum Corporation, Chevron Technology Ventures, Ecosphere Ventures, and Odyssey Energy Advisors. The investment follows successful field trials for Aquanta Vision’s optical gas imaging (OGI) detection software, according to the company. Continue reading.

Axiom Space

Axiom Space closed an oversubscribed $525 million round in June. Image via NASA

Axiom Space tacked on an additional $175 million to a previously announced capital raise in June, bringing the oversubscribed round to a total of more than $525 million.

Axiom shared in February that it had secured $350 million in a financing round led by Type One Ventures and Qatar Investment Authority. In June, the company reported that Japan-based MUFG Bank Ltd. joined the round as a new investor, in addition to continued participation from existing backers.

The funding will go toward developing the company's commercial space station, known as Axiom Station, and the production of its Axiom Extravehicular Mobility Unit (AxEMU) under its NASA spacesuit contract. Continue reading.

Receipts Depositary Corporation

The company's platform makes it easier to buy and trade hard-to-access and less traditional assets. File photo

Houston-based fintech company Receipts Depositary Corporation closed a $7 million oversubscribed funding round in June and plans to scale.

The round was led by Austin-based LiveOak Ventures, with participation from Hivemind Capital, Onigiri Capital, OTC Markets Group, GTS, and Redbeard Ventures, according to a release from RDC.

RDC's platform issues depositary receipts (DRs) to qualified investors on digital and alternative assets, making it easier for investors to buy and trade hard-to-access and less traditional assets. Continue reading.

Houston healthtech startup raises $30M to scale surgical healing gel

fresh funding

Houston-based healthtech startup TYBR Health has raised a $30 million Series A round to scale its B3 GEL System, which helps protect tendons from scarring after surgery.

The round was led by Minneapolis-based Vensana Capital and Cleveland-based Mutual Capital Partners, with participation from Denver-based Neovate Capital Partners and existing investors, according to a news release from the company.

TYBR Health said it plans to use the funding to broaden the B3 GEL System's clinical applications, expand commercialization and conduct studies to evaluate its ability to protect tissue and improve healing outcomes.

"Surgeons are exceptionally good at the structural repair, but the biology that follows is what determines how it heals. That part of the equation has gone largely unaddressed ... There's a shift underway across surgical specialties, from focusing almost entirely on the mechanical repair to also weighing the biological conditions that repair needs to succeed," Tim Keane, co-founder and CEO of TYBR Health, said in the news release. "This financing lets us reach more surgeons and generate the clinical evidence to move that shift forward."

As part of the financing round, Greg Banker of Vensana Capital and Liz Todia Zambory of Mutual Capital Partners will join the TYBR board, alongside independent director Aaron Smith.

"TYBR Health is addressing a gap surgeons have lived with for a long time, with a product that fits the way they already work," Zambory, principal at Mutual Capital Partners, added in the release. "We're excited to co-lead this round and support the company's growth."

TYBR was founded in 2020 and originated from the TMCi’s Biodesign fellowship and participated in the TMC's Accelerator for HealthTech. Its B3 GEL System is a flowable extracellular matrix hydrogel designed to protect tendons, ligaments, muscles, and the surrounding soft tissue while they heal from orthopedic surgery. It received FDA 510(k) clearance last June and launched an Australian clinical trial in the fall.

The B3 GEL System has been used in hand, wrist, shoulder, foot and ankle, and sports medicine procedures since it launched, according to the company, and was first used in the clinical setting earlier this year by Dr. Tammam Hanna with Texas Tech University Health Sciences Center.

Houston space companies win NASA funding to build Mars exploration robots

mission to mars

Two Houston-area spacetech companies have landed a portion of a $17 million award from NASA to develop robots for exploring the surface of Mars, the agency announced this month.

Houston-based Inuitive Machines and Webster, Texas-based MEI Technologies, which does business as Aegis Aerospace, were among the seven companies selected to receive the funding from NASA's Science Transport and Robotic Innovation for Deployment and Exploration (STRIDE) initiative.

According to the release from NASA, the companies are tasked with creating "innovative mobility systems" that would allow future Mars missions to access more challenging terrain and difficult-to-reach regions of the planet, and to travel farther distances. NASA estimated that the work will begin this fall.

NASA solicited proposals for participants in the STRIDE initiative in January. The seven named companies are the first selected to participate in the program.

The additional five companies to receive STRIDE funding include:

"STRIDE demonstrates NASA’s commitment to strong public-private partnerships, allowing the agency to explore new approaches for Mars surface exploration while identifying key capability gaps and development needs for commercial systems that could operate and traverse realistic Martian environments," NASA shared in the announcement.

Last month, Intuitive Machines was awarded $148.3 million to deliver its Nova-C lander to the moon. The funding was part of $600 million the space agency awarded to three companies as part of its Moon Base Program and was Intuitive Machines' sixth task order under NASA's Commercial Lunar Payload Services (CLPS) program. Astrobotic was also one of the companies to land funding for the Moon Base program, as well as Austin-based Firefly Aerospace.

Around the same time, Firefly Aerospace was awarded a $13 million subcontract from NASA’s Jet Propulsion Laboratory to develop technology for NASA’s SkyFall mission to Mars. The mission aims to deploy three Mars helicopters to "perform science and demonstrate airborne subsurface mapping and resource prospecting on the planet." Read more here.

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