Houston investor calls for all angels to move the ecosystem forward

houston innovators podcast episode 233

Mitra Miller, vice president and board member of the Houston Angel Network, joins the Houston Innovators Podcast to share her passion for growing angel investors in Houston. Photo via LinkedIn

One of the biggest components of a well-functioning startup ecosystem is inarguably access to capital, and Mitra Miller is dedicated to enhancing education around investment and growing Houston's investor base.

As vice president and board member of the Houston Angel Network, the oldest angel network in Texas and one of the most active angel networks in the country, Miller strives to provide guidance to new and emerging angel investors as well as founders seeking to raise money from them.

"Most founders have no idea or understanding of how investors think — we are not an ATM," Miller says on the Houston Innovators Podcast. "We are really partners you are getting married to for the next 5, 8, 10 years — sometimes longer. We need to bring your allies in every sense of the word."



HAN, a nonprofit, provides a unique opportunity for its members, as Miller explains. The group consists of around 100 individuals from all business backgrounds, so evaluating companies together brings more than just a wealth of capital — but also a wealth of knowledge.

"What HAN provides is access to investments," Miller says, adding that members have the benefit in evaluating companies together with people from different backgrounds. "Inside a group like HAN, we have extraordinary expertise."

In addition to educating both founders and investors in the process, Miller has dedicated herself to providing opportunities for students in low-income parts of Houston to learn about the startup world. Eight years ago, she founded Eagle Investors, an organization that provides a year-long program that culminates in a group of students participating as judges for the Rice Business Plan Competition.

"They spend a year learning about innovation, entrepreneurship, and investing by meeting local investors, entrepreneurs, and service providers. They go around Houston to get to visit and ... experience all of the ecosystem," Miller says.

At RBPC, the cohort of high school students evaluate the pitches and select a company to provide a $5,000 prize.

Miller herself has been a judge at RBPC for 20 years now, and she's had a front row seat for watching Houston develop as an ecosystem. She's seen the city make real progress, but has one major call to action.

"The piece that I am most aware of that I would like to see grow is activating more accredited investors who are interested in this asset class of early-stage companies and plugging in," Miller says. "They can also invest their time and knowledge to help companies in our region grow and scale."

From Your Site Articles
Teresa Thomas, newly named vice chair and national sector leader for energy and chemicals at Deloitte, shares her vision in an interview. Photo via LinkedIn

Q&A: Newly named Houston corporate energy, chemicals leader on navigating dynamic energy transition sector

Featured Innovator

Deloitte is undergoing a leadership shift — and this evolution for the nearly 200-year-old company directly affects its Houston office and the energy transition line of business.

Earlier this year, Teresa Thomas was named vice chair and national sector leader for energy and chemicals at Deloitte. Based in Houston, she will also serve as an advisory partner and leader in Deloitte & Touche LLP's Risk & Financial Advisory energy and chemicals practice. She succeeds Amy Chronis, partner at Deloitte LLP, who will continue to serve within the energy and chemicals practice until her retirement in June 2024.

In an interview with EnergyCapital, Thomas shares a bit about what she plans on focusing as she takes on her new role.

EnergyCapital: As you transition into your new role, how would you describe your focus and priorities?

Teresa Thomas: I am excited about what lies ahead for the energy and chemicals sector. The sector is moving into the new year with strong production and a focus on returning value and achieving efficiency. The sector is innovating with new technologies, such as artificial intelligence, including generative AI. that can capture value from data to transform and reinvent business processes and optimize the workforce.

The mission for my leadership role is to grow our practice by serving our clients with world-class solutions; venture into new innovative areas that exceed the changing needs in our sector; and attract, retain, and develop the best talent across Deloitte’s four businesses. I am bullish about the sector's role in leading on the forefront through the energy transition, pioneering innovative technologies and solutions that will help solve some of society’s most pressing issues, and contributing unique and differentiated ideas to help transform the energy and chemicals sector to meet global demands in a sustainable and profitable way.

EC: How is Deloitte navigating the trends and progression of the energy transition? What are clients’ expectations, and how does the company plan to stay a step ahead?

TT: At Deloitte, we proactively navigate the dynamic landscape of the energy transition with a strategic, collaborative, and innovative edge. Our extensive global presence and diverse partnerships, spanning industries, regions, and academic institutions, keep us abreast of emerging trends, regulatory shifts, and technological advancements. Client expectations are evolving towards sustainable practices, and we respond by providing innovative solutions that align with their goals.

Our commitment to staying a step ahead involves continuous investment in talent development and innovative technologies. Central to our strategy is taking ownership of pivotal marketplace issues and adeptly guiding clients through the intricacies of their business challenges. Through harnessing our extensive expertise that cuts across our four business, we aim to create growth opportunities and offer innovative solutions.

EC: Energy companies have been known to more slowly adopt and adapt to new technologies. Is that changing?

TT: We believe the energy and chemicals industries is at the forefront of adopting cutting-edge technologies to bolster operational efficiency, increase productivity, reduce costs, and advance safety and sustainability measures. From bringing new materials to consumers, pioneering offshore operations, transforming shale resources into one of the most competitive resources, to developing new and sustainable molecules, the industry has highlighted its adaptability. The industry continues to be a leader of groundbreaking technologies including the development of biofuels, biomaterials, carbon capture, hydrogen production, and more.

Additionally, energy companies are increasingly leveraging digital technologies, including GenAI to enhance operational efficiency, optimize resource management, and drive innovation across various segments of the industry. From interpreting seismic data and predicting reservoir behavior, to employing carbon analytics and tracking GHG emissions, the industry is transforming its operations and contributing to a more sustainable and efficient energy landscape. While there is much more to be done, we remain confident that the energy industry will continue to help lead the way in innovation.

The oil and gas industry has been increasingly investing in clean energy over recent years, wherein the clean energy investments by the oil and gas industry as a share of their upstream capex quadrupled between 2020 and 2022. Yet, this clean energy investment remains less than 2 percent of the overall clean energy investments made in 2022.

After having outperformed the broader S&P 500 by over 45 percent since 2021, the oil and gas industry faces a threefold mandate:

  1. uphold financial stability,
  2. sustain high dividends, and
  3. augment investments in low-carbon ventures.

However, the central challenge lies in scaling the energy transition while maintaining profitability and shareholder value.

EC: The chemicals sector, in particular, seems ripe for disruption with new and developing alternative materials on the scene. What do you expect to see from this industry in 2024?

TT: There is a chemicals and material transition taking place as companies are pushed to develop more sustainable, lower-carbon materials. And given that 96 percent of all manufactured goods are touched by chemistry, this transition could also be transformational. Over the next year, we expect chemical companies to continue positioning themselves for this high-tech, low-carbon future in three notable ways.

  • First, we expect companies to increase automation and digitalization to improve productivity and accelerate innovation.
  • Second, we see companies continuing to invest in circular solutions, whether it's designing materials for a sustainable end-of-life or using renewable feedstocks.
  • Third, we expect some companies to lean into the new chemicals and materials needed to support the energy transition.

EC: As a Houstonian, what do you see the city’s role amidst the future of energy?

TT: Houston is a top global city, driving transformational change and a convener to an ecosystem of players that are leading the charge in the energy transition through biofuels, biomaterials, and advanced methods for carbon capture and hydrogen production.

Although not a native, I did find the energy and chemicals sector early in my career which brought me to this dynamic city. Houston’s advanced network of partners are working together toward creating innovative solutions that are accelerating the advancement of a lower carbon future.

———

This conversation has been edited for brevity and clarity.

This article originally ran on EnergyCapital.

Ayse McCracken joins the Houston Innovators Podcast to discuss women in health care and Ignite Madness. Photo courtesy of Ignite

Houston innovator is putting female health tech entrepreneurs on center stage

HOUSTON INNOVATORS PODCAST EPISODE 54

When COVID-19 hit, Ayse McCracken realized that women in health care were going to be disproportionately affected by the pandemic and social isolation. As the founder and board chair of Ignite Healthcare Network, a nonprofit dedicated to connecting and promoting female health tech entrepreneurs, McCracken jumped to provide a virtual way to connect her members.

"With COVID, it has only escalated the importance of our work, so we've elevated our voices through our webinar series," McCracken says on this week's Houston Innovators Podcast.

The webinars featured prominent women in health care discussing leaderships, the effect of the pandemic, and more. Now, Ignite has introduced an entirely new virtual event series focused on startups and, something slightly unexpected: basketball. Ignite Madness begins tomorrow, October 22, and will feature 35 startups. The startups will be narrowed down to seven finalists, who will then pitch at the finals next Thursday, October 29. Click here to register.

"We wanted to do something that was kind of fun and engaging for people while showcasing great entrepreneurs. We didn't want it to just be a pitch event," McCracken says. "When you look at basketball, the similarities were very interesting."

Women make up a significant portion of the fan base for basketball, McCracken says she discovered, and she had the idea of featuring female coaches into the pitch competition. Seven college basketball coaches will be involved in the event as mentors, sharing their own stories.

McCracken says she was strategic when organizing the pitch competition and made sure the competing companies were representative of both the industry's innovation and of diversity. The startups from 13 states across the United States and six other countries — 43 percent of the founders pitching are women of color.

"When we say women, we mean women of all colors and ethnicities," McCracken says. "We have made sure that our leadership team is diverse and inclusive. Everything we do, you'll see women in a very inclusive way."

While you'll have to watch the pitches yourself, McCracken says, the startups are focusing on novel medical devices, cancer detection, and nanotech-based treatment selection platforms, mental health platforms, telehealth solutions, digital solutions for women's health issues like fertility, and so much more.

McCracken shares more about what viewers can expect from the event as well as the important role women in health care play and the evolution of the industry in Houston on the podcast. You can listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


Reda Hicks, founder of GotSpot — a digital tool that helps connect people with commercial space with people who need it, is looking to advocate for Texas female founders at SXSW. Courtesy of GotSpot

Houston entrepreneur plans to bring female founders to the forefront of SXSW this year

HOUSTON INNOVATORS PODCAST EPISODE 21

During the past two years of SXSW, Reda Hicks — along with Denise Hamilton, a fellow female founder — observed that the festival isn't optimized for female founders. Whether it's not accessible financially or just not creating programming that women are interested in, Hicks saw an opportunity.

"The two of us had been to SXSW together for the past two years, and we just saw a whole where a lot of female founders were being lost," Hicks says on this week's episode of the Houston Innovators Podcast. "We can solve both of those problems by creating an experience where it's an entire day that doesn't cost attendees anything and put together a lot of different content that would be really helpful for women growing their business."

Hicks, founder of GotSpot — a temporary space finding tool, teamed up with Hamilton, founder of WatchHerWork — a professional women's resource, to do just that. They have created an activation at SXSW on March 12 called Texas Female Founders Day, which will feature female founder-focused programming.

Thanks to a partnership with Ford Motors, the group will also be selecting a couple lucky female entrepreneurs to sponsor their stay and passes into SXSW. The process has been exciting to Hicks and indicative that Hicks and Hamilton aren't the only ones who have sought out a female founder focus at SXSW — or across Texas.

"What I hope is that it's the first of many similar collaborations," Hicks says. "We have such amazing power among the women in this state and we need to be working together on these kind of things."

Hicks discusses the partnership and her tips for entrepreneurs making the most of SXSW on the Houston Innovators Podcast. Plus, she shares updates and successes for GotSpot. Listen to the full episode below — or wherever you get your podcasts — and subscribe for weekly episodes.


Harvin Moore, who has a 20-year career in tech and innovation, serves as president of Houston Exponential. Courtesy of HX

Innovation leader discusses the future of HX and how the city of Houston is at an 'inflection point'

Featured Innovator

If there's one person optimistic about Houston's innovation ecosystem, it's probably Harvin Moore.

"There's no question that five years from now, or 10 years from now, Houston will be a very large and continually rapidly growing tech economy," Moore tells InnovationMap. "The question is just how fast it is going to get here."

Houston Exponential — the city's nonprofit meant to connect the dots within innovation in Houston — named Moore the president of the organization earlier this summer. He's hit the ground running since then.

Moore discusses with InnovationMap how his tenure is going and where the innovation ecosystem is at as the city dives into a busy fall season.

InnovationMap: How has your first few months at HX been?

Harvin Moore: It has been, I would say, chiefly defined by the fact that I've been on a grand listening tour. I went back over my calendar recently to count the number of meetings, because it really does seem like I don't come up for air. It's summer in Houston, and I've been getting in and out of a hot car like most of every day. I'm up to somewhere in the high nineties — like 95 of these meetings. And what has really kind of blown me way about that is that five years ago, there really wasn't an ecosystem. You could have had a listening tour in a week.

IM: How is HX's role in the ecosystem evolving with the ecosystem itself?

HM: HX's role from the start was to attract, promote, and connect. Let me first say that of those three, HX as a staff has been mostly focusing on promotion in the past. However, the board has been doing all three — attract, promote, and connect. We will be focusing more on connecting and attracting in the future.

Attract is bringing in big companies, small companies, and startups to Houston, as well as bringing in talent. It's the people who want to move to Houston because there are a lot of good job opportunities — not just in energy, medicine, and logistics. It's also an effort to attract capital so that there is more access to the enormous number of high net worth people in Houston for angel capital and investments, but also venture capital.

We're going to continue to promote. You're going to see a difference in how we promote. We're going to be more focused on shining this light all around the community, and we're going to be more focused on diversity.

Connect relates to how are we are helping startups — like by finding venture capital firms.

IM: So, how is HX looking to connect startups to investment opportunities?

HM: In the past and how the situation is now, there's something like 80 percent of venture is on the West and East Coasts. It's like all the attention is in the Bay Area and then New York and Boston. And, in Houston, we talk about how far behind we are of Austin. And, I guess that's true, but still — Austin is a blip on the map compared with San Francisco and the Bay Area for example.

But what's happening now is a shift. There are these venture capitalists that are really starting to look — in the last two or three years and for various reasons — at the growth of ecosystems. So, when a VC calls, in the past they would have looked for a company that they're interested in, and they would come down to visit and see it. Maybe to be a little bit more efficient, they might call TMCx, for instance, and say that they'd like to come down and ask for TMCx to find some other companies to meet with.

Now with HX active in this connecting role, that's what we'll be doing. Now if a VC calls on, let's say, Station Houston, Station will say, "OK, yes, we can help, but you can also call on HX because Houston has a lot more to offer." That's not the way it works in most cities because of competition, but this is one of the keys of how we're going to really break out in Houston because we have a collaborative nature in the city.

IM: What's a goal you have for HX?

HM: HX has not yet built out its data capabilities and responsibilities. You can't be a great connector at scale without a good system, like Hubspot, for instance. How many startups are there in Houston? Nobody knows. How many seats are there at the startup development organizations, or SDOs? Nobody's counted them. None of this stuff's been measured. I mean, there are some people that are trying to measure how much venture capital is coming into Houston, and it's amazing how much it is, but it's still missing data.

One thing I want to talk about is the startup database, which has never been done before. We really haven't even seen anyone make a real attempt to do this because it's such a daunting task. Of course, if we don't start quick, it's going to be pretty hard to do later. However, we as a board decided around a year ago that we were going to make this a priority to create a really good, useful, accurate database of as many of the startups and growth-stage technology companies in Houston as possible. We just reached an agreement with Texas A&M University to be the data partner. So, they're going to assign doctorate student up there who's going to be running the project.

IM: You have a long career in education with positions at Houston ISD as well as KIPP Houston Public Schools. How does education merge with your career now?

HM: Well, it's actually a question that makes sense now. Every time I've been asked that question throughout my entire career, it's been harder to answer. I started volunteering in education when I was living in New York as a banker, and I would take the subway up to Harlem and I would tutor up there. When I moved back to Houston, I found a place to tutor here, and my involvement got bigger and bigger until I ran for public office — and won with something like 74 percent of the vote and was re-elected three times serving HISD for 13 years.

Now, it looks like a brilliant career decision, although it never was meant to be. And the reason it makes so much sense is that academia and research and universities are huge parts of the ecosystem. During my time in education, I began to realize that the workforce development — particularly at the post high school level — was job skills. We did a study and found out where the jobs were and worked our way back from there. We redid our career technology programs because of this study.

How this experience ties into what I do at HX is that quality jobs skills credentialing is one of the most important things that the education system can do for the growth of the technology ecosystem.

IM: How have you seen the industry evolve recently?

HM: It's good advice to look around and remember how things look today cause we are living through an inflection point, and there's been several of those in our history. When people started looking around and seeing people walking around with these little PDAs, palm pilots, and things like that — that was the beginning of an inflection point. There are these inflection points in history, like whoever the hell put rollers on suitcases for the first damn time — that was not even long ago. And now no one carries a bag anymore. That was a silly example, but we are living through this inflection point here in Houston.

------

Portions of this interview have been edited.

From tips on finding the best coworking spot for your company to the people in Houston leading innovation, here are this week's top stories. Leanne Hope/PDR

5 most popular innovation stories in Houston this week

What's trending

Editor's note: Ask anyone — people are the driving force within innovation. They are also what drives innovation stories, from founding companies, discovering new technologies, and providing advice to others. Here are this week's trending news stories that are focused on the people aspect in innovation.

3 Houston innovators to know this week

From fitness tech and interior design to super thin wearable technology, this week's innovators to know can't be stopped. Courtesy photos

Another week, another set of Houston innovators to keep your eye on. This week's cast of characters are from across industries — from fitness innovation to interior design for tech companies. Meet the people behind Houston innovation. Read more.

Houston educator plans to lead her university into the future with her new role

Former University of St. Thomas business school dean, Beena George, is taking on a new role at the university: Chief innovation officer. Courtesy of UST

High school graduation numbers are decreasing, and, by 2025, far fewer college freshmen will be starting school. Some project as high as a 15 percent drop, says Beena George, inaugural chief innovation officer of Houston's St. Thomas University.

UST is looking forward to and anticipating changes and challenges within higher education like this, and one of the steps the university has been to create George's position.

"My role is to ferment that culture of innovation," George says. "Not just sit here and think of ideas." Read more.

4 Houston health startups to look out for

It might come as no surprise that Houston, home to the largest medical center in the world, has many impressive health startups. Photo by Dwight C. Andrews/Greater Houston Convention and Visitors Bureau

Houston's growing life sciences industry has been a topic of discussion of late — and it's pretty obvious why.

In March, Houston was named the No. 2 top city for an emerging life sciences market, according to CBRE data. Houston was also named the No. 2 city for STEM jobs, per a report from American Enterprise Institute's Housing Center, which cited the city's growing life science industry as a factor. Even Amazon, which recently opened a Tech Hub in Houston, credited the city's life sciences as a reason for Houston's selection.

In fact, according to a report from the Greater Houston Partnership, Houston has over a fifth of the nation's clinical trials last year. With health care innovation abound in town, here are four startups to keep an eye on. Read more.

Houston clocks in as No. 2 most overworked city in the nation

Only D.C. is more overworked than Houston. Photo by Shobeir Ansari, Getty Images

A new study on work-life balance proves Houstonians work harder than almost anyone else in the country.

Mobile technology company Kisi set out to determine which major U.S. cities offer the best work-life balance, and which ones could use an adjustment, by examining work intensity, society and institutions, and livability. Overall, the Bayou City ranks fourth-worst for work-life balance (No. 37 out of 40), but even more sobering is how overworked our residents are.

According to the study, Houston is the second-most overworked city in the nation, behind only Washington, D.C. Fifteen percent of Houston workers work at least 48 hours a week, the highest figure in the study, and, on average, the Houston workforce stays on the clock 43.7 hours a week. While local workers arrive at work later than most Americans (9:56 am), they are on the road much earlier, commuting about 30 minutes just one way, the study says. Read more.

5 things to keep in mind when finding coworking space in Houston

Here's what all you should consider before settling into a coworking spot. Leanne Hope/PDR

If you're in the market for office space you've undoubtedly heard a lot about one of the fastest growing trends in commercial real estate – coworking. What started as a simple idea to help freelancers and startups find workspace is now beginning to disrupt the traditional office market. More than 1,000 spaces opened in the US in 2018 alone, according to Coworking Resources.

But, as this trend continues to take off, tenants now face a wide range of potential options. So many, in fact, it can seem overwhelming weeding through them. Where does one even start? How do you find the right space? Here are five things you should keep in mind when conducting your search. Read more.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Big winners: 5 Houston companies that raised the most funding in 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. When it came to the money raised in Houston, these five startups raised the most, according to reporting done by InnovationMap. Be sure to click on each story to read the full article.

Fervo Energy secures $600M in multiple rounds

The latest deal brings Fervo's total funding secured this year to around $600 million. Photo courtesy of Fervo

Fervo secured a lot of fresh funding this year to deliver on its 100x growth plans. Most recently, the company announced that it has raised $255 million in new funding and capital availability. A $135 million corporate equity round was led by Capricorn’s Technology Impact Fund II and a $120 million letter of credit and term loan facility was granted by Mercuria, an independent energy and commodity group that previously invested in the company. Read more about the round.

In February, Fervo secured $244 million in a financing round led by Devon Energy, and in September, the company received a $100 million bridge loan for the first phase of its ongoing project in Utah. This project, known as Project Cape, represents a 100x growth opportunity for Fervo, as Latimer explained to InnovationMap earlier this year. As of now, Project Cape is fully permitted up to 2 GW and will begin generating electricity in 2026, per the company.

Solugen scores $213.6M to support new facility

The new Solugen facility is expected to reduce annual carbon emissions by up to 18 million kilograms. Photo courtesy of Solugen

Houston-based Solugen secured financing from the U.S. Department of Energy's Loan Programs Office in June to support its mission of producing clean chemicals.

The LPO's $213.6 million loan guarantee will go toward the construction of the company's 500,000-square-foot Bioforge Marshall facility in Southwest Minnesota, which broke ground in April and will produce bio-based chemical products to be used in wastewater treatment, construction, agriculture, and the energy sector. According to Solugen, the facility is expected to reduce annual carbon emissions by up to 18 million kilograms.

"American manufacturing is at a turning point, and we are proud to have the opportunity to work with the DOE in bringing critical chemical production capabilities onshore to communities like Marshall," Gaurab Chakrabarti, CEO of Solugen, says in a news release. "By scaling cutting-edge technologies, we are meeting domestic demand for innovative solutions and setting global standards for sustainable biomanufacturing." Read more about the round.

Cart.com brings in $130M in financing, series C extension

Cart.com announced a $25 million series C extension round and $105 million in debt refinancing from investment manager BlackRock. Photo courtesy of Cart.com

While 2024 was less lucrative for Houston-based Cart.com when it comes to VC activity, the scaleup did pull in significant funding.

The company, which operates a multichannel commerce platform, secured $105 million in debt refinancing from investment manager BlackRock in July.

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

Procyrion closes $57.7M series E to fund journey to FDA approval, commercialization

Procyrion has announced the closing of its series E round of funding. Photo via Getty Images

Houston-born and bred medical device company, Procyrion, has completed its series E with a raise of $57.7 million, including the conversion of $10 million of interim financing.

Procyrion is the company behind Aortix, a pump designed to be placed in the descending thoracic aorta of heart failure patients, which has been shown to improve cardiac performance in seriously ill subjects. The money raised will allow the company to proceed with a the DRAIN-HF Study, a pivotal trial that will be used for eventual FDA approval and commercialization.

The Aortix is the brainchild of Houston cardiologist Reynolds Delgado. According to Procyrion’s CSO, Jace Heuring, Delgado, gained some of his experience with devices for the heart working with legendary Texas Heart Institute surgeon O.H. “Bud” Frazier. He filed his first patents related to the Aortix in 2005. Read more about the round.

Utility Global raises $53M series C investment

Utility Global’s technology enables reduction of greenhouse gas emissions along with generation of low-carbon fuels and chemicals. Photo courtesy of Utility Global

Houston-based Utility Global, a maker of decarbonization-focused gas production technology, has raised $53 million in an ongoing series C round.

Among the participants in the round are Canada’s Ontario Power Generation Pension Plan, the XCarb Innovation Fund operated by Luxembourg-based steel company ArcelorMittal, Houston-based investment firm Ara Partners, and Saudi Aramco’s investment arm.

Also, Utility Global and ArcelorMittal have agreed to develop at least one decarbonization facility at an ArcelorMittal steel plant. Read more about the round.

Houston-based startup secures fresh funding led by local investor to expand HVAC, plumbing platform

money moves

Houston-based SmartAC.com, which provides a customer loyalty management platform for contractors, has raised a follow-on round from Mercury Fund and other investors. The dollar amount of the round wasn’t disclosed.

An October filing with the U.S. Securities and Exchange Commission (SEC) indicates SmartAC.com planned to raise $8.2 million in venture capital. Of that sum, about $4 million had already been raised, the company reported, and nearly $4.2 million remained to be raised.

SmartAC.com's platform enables contractors in the HVAC and plumbing industries monitor, manage, and optimize their maintenance memberships through advanced sensors, AI-driven diagnostics, and proactive alerts.

“Growing a business in the trades is all about customer loyalty, and loyalty is driven by optimizing the customer’s experience,” Josh Teekell, founder and CEO of SmartAC.com, says in a news release. “SmartAC.com was built to perfect the experience of home comfort through data-driven insights that bring long-term value to homeowners and contractors alike.”

SmartAC.com says the new funding will enable expansion of its platform.

“Amid rising consumer demand for ‘smart home’ innovations, SmartAC.com is addressing a critical need for more sophistication in HVAC and plumbing through a technology-driven strategy,” says Heath Butler, a partner at Mercury Fund.

In 2020, SmartAC.com emerged from stealth mode and announced a $10 million series A round. The company raised a $22 million series B round in 2023.

Houston scientists create first profile of Mars’ radiant energy budget, revealing climate insights on Earth

RESEARCH FINDINGS

Scientists at the University of Houston have found a new understanding of climate and weather on Mars.

The study, which was published in a new paper in AGU Advances and will be featured in AGU’s science magazine EOS, generated the first meridional profile of Mars’ radiant energy budget (REB). REB represents the balance or imbalance between absorbed solar energy and emitted thermal energy across latitudes. An energy surplus can lead to global warming, and a deficit results in global cooling, which helps provide insights to Earth's atmospheric processes too. The profile of Mars’ REB influences weather and climate patterns.

The study was led by Larry Guan, a graduate student in the Department of Physics at UH's College of Natural Sciences and Mathematics under the guidance of his advisors Professor Liming Li from the Department of Physics and Professor Xun Jiang from the Department of Earth and Atmospheric Sciences and other planetary scientists. UH graduate students Ellen Creecy and Xinyue Wang, renowned planetary scientists Germán Martínez, Ph.D. (Houston’s Lunar and Planetary Institute), Anthony Toigo, Ph.D. (Johns Hopkins University) and Mark Richardson, Ph.D. (Aeolis Research), and Prof. Agustín Sánchez-Lavega (Universidad del País, Vasco, Spain) and Prof. Yeon Joo Lee (Institute for Basic Science, South Korea) also assisted in the project.

The profile of Mars’ REB is based on long-term observations from orbiting spacecraft. It offers a detailed comparison of Mars’ REB to that of Earth, which has shown differences in the way each planet receives and radiates energy. Earth shows an energy surplus in the tropics and a deficit in the polar regions, while Mars exhibits opposite behavioral patterns.

The surplus is evident in Mars’ southern hemisphere during spring, which plays a role in driving the planet’s atmospheric circulation and triggering the most prominent feature of weather on the planet, global dust storms. The storms can envelop the entire planet, alter the distribution of energy, and provide a dynamic element that affects Mars’ weather patterns and climate.

The research team is currently examining long-term energy imbalances on Mars and how it influences the planet’s climate.

“The REB difference between the two planets is truly fascinating, so continued monitoring will deepen our understanding of Mars’ climate dynamics,” Li says in a news release.

The global-scale energy imbalance on Earth was recently discovered, and it contributes to global warming at a “magnitude comparable to that caused by increasing greenhouse gases,” according to the study. Mars has an environment that differs due to its thinner atmosphere and lack of anthropogenic effects.

“The work in establishing Mars’ first meridional radiant energy budget profile is noteworthy,” Guan adds. “Understanding Earth’s large-scale climate and atmospheric circulation relies heavily on REB profiles, so having one for Mars allows critical climatological comparisons and lays the groundwork for Martian meteorology.”

------

This article originally ran on EnergyCapital.

View All Listings