Houston-based biomaterials company raises $1.1M to grow team, build new HQ

money moves

BUCHA BIO has raised over $1 million to grow its team, build a new headquarters, and accelerate its go-to-market strategy. Image courtesy of BUCHA BIO

A Houston company that has created a plant-based material that can replace unsustainable conventional leathers and plastics has announced the close of its oversubscribed seed funding round.

BUCHA BIO announced it's raised $1.1 million in seed funding. The round included participation from existing partners New Climate Ventures, Lifely VC, and Beni VC, as well as from new partners Prithvi VC, Asymmetry VC, and investors from the Glasswall Syndicate, including Alwyn Capital, as well as Chris Zarou, CEO & Founder of Visionary Music Group and manager of multi-platinum Grammy-nominated rapper, Logic, the startup reports in a news release.

“I’m excited to back BUCHA BIO’s amazing early market traction," Zarou says in the release. "Their next-gen bio-based materials are game-changing, and their goals align with my personal vision for a more sustainable future within the entertainment industry and beyond.”

The company, which relocated its headquarters from New York to Houston in February, was founded by Zimri T. Hinshaw in 2020 and is based out of the East End Makers Hub and Greentown Houston.

BUCHA BIO has created two bio-based materials using bacterial nanocellulose and other plant-based components. The two materials are SHORAI, which can be used as a leather alternative, and HIKARI, a translucent material that is expected to be formally introduced in November.

The fresh funding will help the company to accelerate its move into the marketplace next year by securing co-manufacturers to scale production. Additionally, the company is growing its team and is hiring for a new supply chain lead as well as some technician roles.

Per the release, BUCHA BIO is working on constructing a new headquarters in Houston that will house a materials development laboratory, prototype manufacturing line, and offices.

BUCHA BIO has the potential to impact several industries from fashion and automotive to construction and electronics. According to the Material Innovation Initiative, the alternative materials industry has seen an increased level of interest from investors who have dedicated over $2 billion into the sector since 2015.

“The time for rapid growth for biomaterials is now," says repeat investor Eric Rubenstein, founding managing partner at Houston-based New Climate Ventures, in the release. "BUCHA BIO's team and technical development are advancing hand in hand with the demands of brand partnerships, and we are excited to support them as they capitalize on this global opportunity.”

Eric Rubenstein of New Climate Ventures joins the Houston Innovators Podcast to discuss the future of Houston as a clean energy hub. Photo courtesy of NCV

Climate tech investor says Houston has a multifaceted role to play in the energy transition

houston innovators podcast episode 122

If the city of Houston wants to maintain its moniker of Energy Capital of the World, it has make strides within the energy transition — and that needs to be accomplished in a myriad of ways.

"Houston's role (within the energy transition) is multifaceted," says Eric Rubenstein, founding managing partner of New Climate Ventures, on this week's episode of the Houston Innovators Podcast.

Rubenstein founded New Climate Ventures to fund startups within the sustainability and climate tech space — which includes technologies that address circular economy, sustainably made materials, clean energy, and more.

"We have a talent pool here that fits pretty well in climate tech, alternative materials, and other spaces," he continues. "We have a customer base here that is going to adopt these new technologies."

The fact that Houston's major energy companies — of which there are many in town — will be the customers of emerging clean energy technologies positions the city as a hub for attracting innovative startups. Just last week, Bucha Bio, one of NCV's portfolio companies expanded into Houston. The New-York founded startup creates in textiles and composite materials made from bacterial nanocellulose, a much more sustainable materials production, that can be used instead of animal leather, polyurethane, latex, vinyl, epoxy, and more.

Rubenstein says Bucha Bio narrowed down its options to San Diego and Houston, before ultimately deciding on the Bayou City for its talent pool. The company, which is a member of Greentown Houston, is now based out of the East End Maker Hub.

"As these technologies are being spun out of labs, Houston has become a destination for these companies," Rubenstein says. "Bucha Bio isn't an irregular occurrence these days."

The missing piece of the puzzle is still venture dollars — and Rubenstein is on a mission to move that needle. This year, NCV is focused on closing its fund and deploying capital into early-staged climate tech companies.

"Our goal is really to watch for transformational change in the industries we're investing in," he says. "We're really excited about the technologies in the space and will continue looking for what's to come."

Rubenstein shares more about New Climate Ventures and the trend that is impact investing on the podcast. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


Bucha Bio has arrived to make an impact on the city of Houston. Image courtesy of Bucha Bio

Sustainable biomaterials startup expands to Houston

new to hou

A New York-founded biomaterials company has announced the opening of operations in Houston after research found the region's workforce “perfectly suited to biomaterials.”

Bucha Bio, founded in 2019, creates in textiles and composite materials made from bacterial nanocellulose, a much more sustainable materials production, that can be used instead of animal leather, polyurethane, latex, vinyl, epoxy, and more. The company announced in a press release today that it's moving from New York City and opening a next-gen materials headquarters at the East End Maker Hub. Bucha Bio has also been accepted as a member company at Greentown Labs.

According to the release, over 20 locations were considered, and Houston stood out for its hiring potential, local universities, Texas's business-friendly regulation, and more.

“We’ve signed on senior scientists and their experiences from the oil and plastic industry are perfectly suited to biomaterials,” says Zimri T. Hinshaw, CEO of Bucha Bio, in the release.

One of these new local hires was Alex Kalin, who joined the company as senior materials scientist from Halliburton.

“It’s a great time to be involved in developing sustainable materials technologies," Kalin says in the release. "Having the opportunity to make a positive impact on the environment was a key factor for me joining Bucha Bio.”

Houston's chemical plant carbon footprint includes 56 gigatons tons of carbon that will be produced from now until 2050 — this number could be shrunk with sustainable alternatives like the one Bucha Bio provides. This potential has been recognized by Greentown Labs.

“Bringing world class energy transition companies like Bucha Bio to Houston is a win-win; not only is Bucha positioned to tap into a diverse talent pool from Universities such as Rice, University of Houston, and Texas A&M, but a wealth of extant talent which is looking to transition their careers; Zimri and his team bring more than technology to Houston, they bring the knowhow, vigor, and network it takes to build meaningful disruptive technology company," says Jason Ethier, senior director of memberships at Greentown Houston.

Last fall, Bucha Bio raised $550,000 in funding led by Houston-based New Climate Ventures with support from SOSV’s IndieBio.

“Bucha Bio’s move to Houston marks a milestone for their ability to keep up with the growing demand for their products and for our shared vision of a clean environment for generations to come," Eric Rubenstein of NCV says.

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Top stories: Houston's most-read health tech news of 2024

year in review

Editor's note: As the year comes to a close, InnovationMap is looking back at the year's top stories in Houston innovation. In the health tech category on InnovationMap, top stories included startup funding raised, IPO plans, FDA clearance, and more. Be sure to click through to read the full story.

New report ranks Houston top market for life sciences

Houston lands in the No. 7 spot for growth in the granting of degrees in biological and biomedical sciences. Photo by Natalie Harms/InnovationMap

Thanks in large part to producing hundreds of college-trained professionals, Houston’s life sciences industry ranks among the top U.S. markets for talent in 2024.

In a report published by commercial real estate services company CBRE, Houston lands in the No. 7 spot for growth in the granting of degrees in biological and biomedical sciences. From 2017 to 2022, Houston notched a growth rate of 32.4 percent in this category.

In 2022, the University of Houston led the higher education pack in the region, graduating 746 people with a bachelor’s degree or above in biological or biomedical sciences, according to the report. Continue reading.

Houston innovator raises pre-seed funding for health care staffing platform

Ayoade Joy Ademuyewo founded Lokum last year to create a solution to better connecting medical specialists with health care facilities nationwide. Photo courtesy of Lokum

A Houston health care innovator is celebrating an oversubscribed round of pre-seed funding to improve on her startup's unique staffing platform.

Ayoade Joy Ademuyewo founded Lokum last year to create a solution to better connecting medical specialists with health care facilities nationwide. The new platform, which cuts out the middleman and lowers staffing costs, raised $700,000 in pre-seed funding that will go toward further development of the technology.

"Healthcare organizations spend $26 billion annually to support a crippling dependence on third-party agencies for connecting with clinical staff," Ademuyewo says in a news release. "Technological solutions that are pointed precisely to streamline and strengthen the relationships between highly specialized clinicians and their future employers are vital to alleviating this detrimental dependance, and central to our mission." Continue reading.

Houston regenerative medicine company to IPO, move toward more human trials

FibroBiologics will IPO this week. Photo via Getty Images

Want a piece of one of Houston’s most promising biotech companies? On January 31, FibroBiologics will begin the trading of its common stock on the Nasdaq stock exchange.

While most labs in the realm of regenerative medicine are focused on stem cells, FibroBiologics has bet on fibroblasts as the secret to treating myriad ailments. Fibroblasts, the most common type of cell in the body, are the primary cells that compose connective tissue.

Interested investors can find a prospectus to peruse before taking the leap. FibroBiologics filed with the U.S. Securities & Exchange Commission (SEC) on November 7, 2023. In September, FibroBiologics CEO Pete O’Heeron told InnovationMap, “I think what we're going to see is that fibroblasts are going to end up winning... They're just a better overall cell than the stem cells.” Continue reading.

Houston organizations identify promising life science cos. at annual event

The Rice Alliance and BioHouston acknowledged innovations from a dozen promising health tech companies. Photo via Rice University

For the 13th year, the Texas Life Science Forum hosted by BioHouston and the Rice Alliance for Technology and Entrepreneurship celebrated innovative companies from around the world that are creating new treatments and solutions to today's biggest health care challenges.

This week, over 40 companies presenting their innovations across cancer, cardiovascular disease, biotechnology, and more. Nearly 700 venture capitalists, corporate innovation groups, angel networks, industry leaders, academics, service providers, and others attended the event on November 7 at Rice's BioScience Research Collaborative in the Texas Medical Center.

Just like in previous years, the event ended with the announcement of the 10 companies that were deemed "most promising" based on their pitches and technologies. Of the 10 companies named, six are headquartered in Houston and an additional two startups on the list have a presence here. Continue reading.

FDA greenlights Houston surgery robotics company's unique technology

EndoQuest Robotics secured an Investigational Device Exemption from the FDA for its clinical study. Photo via Getty Images

A Houston surgical robotics company has gotten a Investigational Device Exemption from the FDA to go forward with human trials.

This news allows EndoQuest Robotics to begin its Prospective Assessment of a Robotic-Assisted Device in Gastrointestinal Medicine (PARADIGM) study, which will be conducted at leading United States health care facilities, including Brigham and Women’s Hospital (Boston), Mayo Clinic (Scottsdale), Cleveland Clinic (Cleveland), AdventHealth (Orlando), and HCA Healthcare (Houston). The study will include surgeries on 50 subjects, who will hopefully begin to enroll in January.

“The foundational thesis is we're trying to make sure that the world's largest medical center is also the world's largest med tech innovation center,” Eduardo Fonseca, interim CEO of EndoQuest Robotics, tells InnovationMap. Continue reading.

Houston biotech biz to merge with public co., set local HQ

big deal

Houston-based Tvardi Therapeutics and Cara Therapeutics announced the companies have entered into a definitive merger agreement to combine in an all-stock transaction. Once completed, Houston will house the headquarters.

Tvardi is a clinical-stage biopharmaceutical company that focuses on the development of novel, oral, and small molecule therapies that target STAT3 to treat fibrosis-driven diseases. Tvardi will merge with a wholly owned subsidiary of Cara.

Once complete, the pre-merger Cara Therapeutics stockholders are expected to own approximately 17 percent of the combined company and pre-merger Tvardi Therapeutics investors are expected to own 83 percent of the combined company. Prior to adjustment from the issuance of the shares in the recently completed Tvardi financing and assuming Cara, which went public in 2014, has net cash at closing of between $22.9 million and $23.1 million with the percentage of the combined company that pre-merger Cara stockholders and pre-merger Tvardi stockholders will own upon the closing of the merger, which is subject to further adjustment if Cara’s net cash balance falls outside of the range.

“As we approach meaningful value inflection points next year, including two Phase 2 readouts of our lead program in idiopathic pulmonary fibrosis, followed by the readout in our hepatocellular carcinoma program, this merger, the recently completed financing, and becoming a publicly traded company give us access to the critical funding required to further advance our promising pipeline programs that address significant unmet needs,” Imran Alibhai, CEO of Tvardi Therapeutics, says in a news release.

Also, Tvardi has completed an approximately $28 million private financing from a syndicate of new and existing institutional investors. With the cash from both companies at closing and the proceeds of this financing, the post-merger company plans to have cash to fund its operating expenses and capital expenditure requirements into the second half of 2026.

“I am grateful to the Cara Board, leadership team, and shareholders who share our vision of Tvardi that is well-positioned to introduce effective, new treatment options to patients suffering from serious, chronic, fibrosis-driven diseases,” Alibhai continues.

In 2021, Tvardi emerged from stealth and closed a $74 million series B funding round led by New York-based Slate Path Capital, Florida-based Palkon Capital, Denver-based ArrowMark Partners, and New York-based 683 Capital, with continued support and participation by existing investors, including Houston-based Sporos Bioventures.

Looking back: Top 5 most-read Houston space tech articles of 2024

year in review

Editor's note: As 2024 comes to a close, InnovationMap is looking back at the year's top stories in Houston innovation. In the Space City, there were dozens of space tech stories, from experts' thoughts on commercialization to the IPO of a Houston company. Here are five Houston space tech-focused articles that stood out to readers this year — be sure to click through to read the full story.

Houston space tech co. rolls out futuristic lunar rover for NASA's Artemis missions

Intuitive Machine unveiled its RACER lunar terrain vehicle at Space Center Houston. Photo courtesy of Intuitive Machines

Houston-based space exploration company Intuitive Machines just unveiled its version of a lunar terrain vehicle that’s designed to be used by astronauts in NASA’s Artemis moon discovery program.

Intuitive Machine recently rolled out its RACER lunar terrain vehicle (LTV) at Space Center Houston. RACER stands for Reusable Autonomous Crewed Exploration Rover.

The rover can accommodate two astronauts and nearly 900 pounds of cargo. In addition, it can pull a trailer loaded with almost 1,800 pounds of cargo. Continue reading.

Axiom Space CEO steps down, search begins for replacement

Axiom Space Co-founder Michael Suffredini is stepping down as CEO. Photo courtesy of Axiom Space

Houston-based space exploration company Axiom Space is searching for a new CEO.

Co-founder Mike Suffredini stepped down effective August 9 as CEO. He cites unidentified personal reasons for his transition from CEO to company advisor. Suffredini remains a board member of Axiom Space.

Co-founder Kam Ghaffarian, the company’s executive chairman, is serving as interim CEO until Axiom Space taps Suffredini’s permanent successor.

“We are grateful for Mike’s invaluable contributions to human space exploration and the remarkable growth of Axiom Space,” Ghaffarian says in a news release. “He will continue to offer his unique perspective and expertise as we advance our mission.” Continue reading.

Houston space tech company secures $116.9M NASA contract

The $116.9 million agreement will task Intuitive Machines with delivering six science and technology payloads to the moon. Photo courtesy of Intuitive Machines

NASA is again entrusting a Houston space business with lunar deliveries.

Intuitive Machines (Nasdaq: LUNR, LUNRW) has secured its fourth contract with NASA’s Commercial Lunar Payload Services, or CLPS, program. The $116.9 million agreement will task Intuitive Machines with delivering six science and technology payloads, which will include one European Space Agency-led drill suite to the Moon’s South Pole.

“Over the last several years, we’ve witnessed NASA’s successful Artemis I mission and the campaign’s progress toward sustainably returning humans to the surface of the Moon, highlighting the importance of autonomous missions that advance humanity’s understanding of the Moon and the commercial services required to support the industry,” Intuitive Machines CEO Steve Altemus says in a news release. “Intuitive Machines looks forward to working closely with the NASA team to deliver mission success once again.” Continue reading.

Houston Spaceport takes off with second phase of development

The next phase of the Houston Spaceport will build out connectivity and workforce training. Rendering via Houston Airports

Since the Houston Spaceport secured the 10th FAA-Licensed commercial spaceport designation in 2015, the development's tenants have gone on to secure billions in NASA contracts. Now, the Houston Spaceport is on to its next phase of growth.

“Reflecting on its meteoric rise, the Spaceport has seen remarkable growth in a short span of time. From concepts on paper to the opening of Axiom Space, Collins Aerospace, and Intuitive Machines, the journey has been nothing short of extraordinary,” says Arturo Machuca, director of Ellington Airport and the Houston Spaceport, in a news release. “These anchor tenants, collectively holding about $5 billion in contracts with NASA and other notable aerospace companies, are not just shaping the future of space exploration but injecting vitality into Houston’s economy.” Continue reading.

Houston college lands $5M NASA grant to launch new aerospace research center

The five-year grant from NASA will go toward creating the NASA MIRO Inflatable Deployable Environments and Adaptive Space Systems Center at UH. Photo via UH.edu

The University of Houston was one of seven minority-serving institutions to receive a nearly $5 million grant this month to support aerospace research focused on extending human presence on the moon and Mars.

The $4,996,136 grant over five years is funded by the NASA Office of STEM Engagement Minority University Research and Education Project (MUREP) Institutional Research Opportunity (MIRO) program. It will go toward creating the NASA MIRO Inflatable Deployable Environments and Adaptive Space Systems (IDEAS2) Center at UH, according to a statement from the university.

“The vision of the IDEAS2 Center is to become a premier national innovation hub that propels NASA-centric, state-of-the-art research and promotes 21st-century aerospace education,” Karolos Grigoriadis, Moores Professor of Mechanical Engineering and director of aerospace engineering at UH, said in a statement. Continue reading.

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