14 Houston startups starting 2026 with fresh funding

cha-ching

From groundbreaking energy leaders to growing space startups, here's who secured funding in the last six months of 2025. Photo via Getty Images

Houston startups closed out the last half of 2025 with major funding news.

Here are 14 Houston companies—from groundbreaking energy leaders to growing space startups—that secured funding in the last six months of the year, 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.

Fervo Energy

Fervo Energy has closed an oversubscribed Series E. Photo via Fervo Energy

Houston-based geothermal energy company Fervo Energy closed an oversubscribed $462 million series E funding round, led by new investor B Capital, in December.

The company also secured $205.6 million from three sources in June.

“Fervo is setting the pace for the next era of clean, affordable, and reliable power in the U.S.,” Jeff Johnson, general partner at B Capital, said in a news release.

The funding will support the continued buildout of Fervo’s Utah-based Cape Station development, which is slated to start delivering 100 MW of clean power to the grid beginning in 2026. Cape Station is expected to be the world's largest next-generation geothermal development, according to Fervo. The development of several other projects will also be included in the new round of funding. Continue reading.

Square Robot

Houston robotics co. unveils new robot that can handle extreme temperatures

Square Robot's technology eliminates the need for humans to enter dangerous and toxic environments. Photo courtesy of Square Robot

Houston- and Boston-based Square Robot Inc. announced a partnership with downstream and midstream energy giant Marathon Petroleum Corp. (NYSE: MPC) last month.

The partnership came with an undisclosed amount of funding from Marathon, which Square Robot says will help "shape the design and development" of its submersible robotics platform and scale its fleet for nationwide tank inspections. Continue reading.

Eclipse Energy

Eclipse Energy and Weatherford International are expected to launch joint projects early this year. Photo courtesy of Eclipse Energy.

Oil and gas giant Weatherford International (NASDAQ: WFRD) made a capital investment for an undisclosed amount in Eclipse Energy in December as part of a collaborative partnership aimed at scaling and commercializing Eclipse's clean fuel technology.

According to a release, joint projects from the two Houston-based companies are expected to launch as soon as this month. The partnership aims to leverage Weatherford's global operations with Eclipse Energy's pioneering subsurface biotechnology that converts end-of-life oil fields into low-cost, sustainable hydrogen sources. Continue reading.

Venus Aerospace

Lockheed Martin Ventures says it's committed to helping Houston-based Venus Aerospace scale its technology. Photo courtesy Venus Aerospace

Venus Aerospace, a Houston-based startup specializing in next-generation rocket engine propulsion, has received funding from Lockheed Martin Ventures, the investment arm of aerospace and defense contractor Lockheed Martin, for an undisclosed amount, the company announced in November. The product lineup at Lockheed Martin includes rockets.

The investment follows Venus’ successful high-thrust test flight of its rotating detonation rocket engine (RDRE) in May. Venus says it’s the only company in the world that makes a flight-proven, high-thrust RDRE with a “clear path to scaled production.”

Venus says the Lockheed Martin Ventures investment reflects the potential of Venus’ dual-use technology for defense and commercial uses. Continue reading.

Koda Health

Tatiana Fofanova and Dr. Desh Mohan, founders of Koda Health, which recently closed a $7 million series A. Photo courtesy Koda Health.

Houston-based digital advance care planning company Koda Health closed an oversubscribed $7 million series A funding round in October.

The round, led by Evidenced, with participation from Mudita Venture Partners, Techstars and Texas Medical Center, will allow the company to scale operations and expand engineering, clinical strategy and customer success, according to a news release.

The company shared that the series A "marks a pivotal moment," as it has secured investments from influential leaders in the healthcare and venture capital space. Continue reading.

Hertha Metals

U.S. Rep. Morgan Luttrell, a Magnolia Republican, and Hertha Metals founder and CEO Laureen Meroueh toured Hertha’s Conroe plant in August. Photo courtesy Hertha Metals/Business Wire.

Conroe-based Hertha Metals, a producer of substantial steel, hauled in more than $17 million in venture capital from Khosla Ventures, Breakthrough Energy Fellows, Pear VC, Clean Energy Ventures and other investors.

The money was put toward the construction and the launch of its 1-metric-ton-per-day pilot plant in Conroe, where its breakthrough in steelmaking has been undergoing tests. The company uses a single-step process that it claims is cheaper, more energy-efficient and equally as scalable as conventional steelmaking methods. The plant is fueled by natural gas or hydrogen.

The company, founded in 2022, plans to break ground early this year on a new plant. The facility will be able to produce more than 9,000 metric tons of steel per year. Continue reading.

Helix Earth Technologies, Resilitix Intelligence and Fluxworks Inc.

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, Resilitix Intelligence and Fluxworks Inc. each secured $1.2 million in federal funding through the Small Business Innovation Research (SBIR) Phase II grant program this fall.

The three grants from the National Scienve foundation officially rolled out in early September 2025 and are expected to run through August 2027, according to the NSF. The SBIR Phase II grants support in-depth research and development of ideas that showed potential for commercialization after receiving Phase I grants from government agencies.

However, congressional authority for the program, often called "America's seed fund," expired on Sept. 30, 2025, and has stalled since the recent government shutdown. Continue reading.

Solidec Inc. (pre-seed)

7 innovative startups that are leading the energy transition in Houston

Houston-based Solidec was founded around innovations developed by Rice University associate professor Haotian Wang (far left). Photo courtesy Greentown Labs.

Solidec, a Houston startup that specializes in manufacturing “clean” chemicals, raised more than $2 million in pre-seed funding in August.

Houston-based New Climate Ventures led the oversubscribed pre-seed round, with participation from Plug and Play Ventures, Ecosphere Ventures, the Collaborative Fund, Safar Partners, Echo River Capital and Semilla Climate Capital, among other investors. Continue reading.

Molecule

Sameer Soleja is the founder and CEO of Molecule, which just closed its series B round. Photo courtesy of Molecule Software.

Houston-based energy trading risk management (ETRM) software company Molecule completed a successful series B round for an undisclosed amount, according to a July 16 release from the company.

The raise was led by Sundance Growth, a California-based software growth equity firm. Sameer Soleja, founder and CEO of Molecule, said in the release that the funding will allow the company to "double down on product innovation, grow our team, and reach even more markets." Continue reading.

Rarefied Studios, Solidec Inc. and Affekta

Houston startups were named among the nearly 300 recipients that received a portion of $44.85 million from NASA to develop space technology this fall. Photo via NASA/Ben Smegelsky

Houston-based Rarefied Studios, Solidec Inc. and Affekta were granted awards from NASA this summer to develop new technologies for the space agency.

The companies are among nearly 300 recipients that received a total agency investment of $44.85 million through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Phase I grant programs, according to NASA.

Each selected company received $150,000 and, based on their progress, will be eligible to submit proposals for up to $850,000 in Phase II funding to develop prototypes. The SBIR program lasts for six months and contracts small businesses. Continue reading.

Intuitive Machines

Intuitive Machines expects to begin manufacturing and flight integration on its orbital transfer vehicle as soon as 2026. Photo courtesy Intuitive Machines.

Houston-based Intuitive Machines secured a $9.8 million Phase II government contract for its orbital transfer vehicle in July.

The contract was expected to push the project through its Critical Design Review phase, which is the final engineering milestone before manufacturing can begin, according to a news release from the company. Intuitive Machines reported that it expected to begin manufacturing and flight integration for its orbital transfer vehicle as soon as this year, once the design review is completed.

The non-NASA contract is for an undisclosed government customer, which Intuitive Machines says reinforces its "strategic move to diversify its customer base and deliver orbital capabilities that span commercial, civil, and national security space operations." Continue reading.

From Your Site Articles

Known as Ike Dike, the proposed project received federal funding from U.S. Army Corps of Engineers. Photo courtesy

Innovative coastline project on Bolivar Peninsula receives federal funding

flood mitigation

The Galveston’s Coastal Barrier Project recently received federal funding to the tune of $500,000 to support construction on its flood mitigation plans for the area previously devastated by Hurricane Ike in 2008.

Known as Ike Dike, the proposed project includes implementing the Galveston Bay Storm Surge Barrier System, including eight Gulf and Bay defense projects. The Bolivar Roads Gate System, a two-mile-long closure structure situated between Galveston Island and Bolivar Peninsula, is included in the plans and would protect against storm surge volumes entering the bay.

The funding support comes from U.S. Army Corps of Engineers (USACE) and will go toward the preconstruction engineering and design phase of Ecosystem Restoration feature G-28, the first segment of the Bolivar Peninsula and West Bay Gulf Intracoastal Waterway Shoreline and Island Protection.

The project also includes protection of critical fish and wildlife habitat against coastal storms and erosion.

“The Coastal Texas Project is one of the largest projects in the history of the U.S. Army Corps of Engineers,” says Col. Rhett A. Blackmon, USACE Galveston District commander, in a statement. “This project is important to the nation for many reasons. Not only will it reduce risk to the vulnerable populations along the Texas coast, but it will also protect vital ecosystems and economically critical infrastructure vital to the U.S. supply chain and the many global industries located here.”

Hurricane Ike resulted in over $30 billion in storm-related damages to the Texas coast, reports the Coastal Barrier Project, and created a debris line 15 feet tall and 40 miles long in Chambers County. The estimated economic disruption due to Hurricane Ike exceeded $150 billion, FEMA reported.

The Coastal Texas Project is estimated to take 20 years to complete after construction starts and will cost $34.4 billion, reports the USACE.

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Correction: This article previously reported the incorrect project valuation and timeline. It has been updated to reflect the corrrect information.

The funding announced Monday by the Commerce Department is part of a total investment in the cluster that, with private money, is expected to exceed $40 billion. Photo via Getty Images

Biden administration agrees to provide $6.4 billion to Samsung for making computer chips in Texas

tech development

The Biden administration has reached an agreement to provide up to $6.4 billion in direct funding for Samsung Electronics to develop a computer chip manufacturing and research cluster in Texas.

The funding announced Monday by the Commerce Department is part of a total investment in the cluster that, with private money, is expected to exceed $40 billion. The government support comes from the CHIPS and Science Act, which President Joe Biden signed into law in 2022 with the goal of reviving the production of advanced computer chips domestically.

“The proposed project will propel Texas into a state of the art semiconductor ecosystem,” Commerce Secretary Gina Raimondo said on a call with reporters. “It puts us on track to hit our goal of producing 20% of the world’s leading edge chips in the United States by the end of the decade.”

Raimondo said she expects the project will create at least 17,000 construction jobs and more than 4,500 manufacturing jobs.

Samsung's cluster in Taylor, Texas, would include two factories that would make four- and two-nanometer chips. Also, there would be a factory dedicated to research and development, as well as a facility for the packaging that surrounds chip components.

The first factory is expected to be operational in 2026, with the second being operational in 2027, according to the government.

The funding also would expand an existing Samsung facility in Austin, Texas.

Lael Brainard, director of the White House National Economic Council, said Samsung will be able to manufacture chips in Austin directly for the Defense Department as a result. Access to advanced technology has become a major national security concern amid competition between the U.S. and China.

In addition to the $6.4 billion, Samsung has indicated it also will claim an investment tax credit from the U.S. Treasury Department.

The government has previously announced terms to support other chipmakers including Intel and Taiwan Semiconductor Manufacturing Co. in projects spread across the country.

Research notes: Tips for navigating federal funding from the lab to the internet

houston voices

Every researcher needs a Digital Persistent Identifier.

As a researcher, what is more important to you than a record of your research and scholarship? A Digital Persistent Identifier, or DPI, distinguishes you and your work from that of your peers – and having one will be mandated for those receiving federal funding. Let’s take a deeper look at why this number is so important. We’ll also compare the different platforms— ORCID, Web of Science, Scopus and Google Scholar — so that you can be sure your publications, presentations, peer reviews and even information about who is citing you are being properly stored and accessed.

ORCID

There are many types of profiles and DPIs that can meet your needs, but there’s no silver bullet. Placing your work onto multiple platforms is necessary according to Andrea Malone, Research Visibility and Impact Coordinator at UH Libraries. She cautions researchers to “be realistic about how many identifiers you can maintain.”

The most popular is ORCID, which stands for Open Researcher and Contributor ID. It’s free to set up, and there is no chance of accidentally or on-purpose having multiple ORCID accounts – it’s assigned to you like a social security number and follows you, the researcher. This comes in particularly especially handy for researchers with common names.

An identifier is federally mandated for those receiving governmental funds. It is not specified that ORCID must be that identifier. For example, according to Malone: “a Web of Science profile also assigns an identifier, which would also satisfy the mandate.” But most researchers choose ORCID because it’s publicly available with no access restrictions.

While an ORCID number is free for researchers, there is a subscription fee for an institution to be associated with ORCID. Information will not pre-populate in an ORCID profile and it doesn’t track citation counts – it only shows what you put in. There are, however, linking wizards that allow you to link from Web of Science and Scopus to your ORCID account. If you choose this option, citations will automatically populate in your ORCID profile. It’s up to the researcher to doublecheck to be sure the information has automated, however.

Google Scholar

Google Scholar is a profile, not an identifier, so it does not comply with federal funding requirements. It is free, however, and it pulls from the open web. You can choose to have your list of articles updated automatically, review the updates yourself or manually update your articles at any time. Google Scholar also specifies which articles are open access. A PDF or HTML icon will appear on the righthand side of each citation for one to download articles.

Web of Science Vs. Scopus

Scopus is known for covering more journals and a wider range of metrics to evaluate research impact than Web of Science. Different platforms are a go-to for certain disciplines – for example, Web of Science is usually associated with hard sciences, although investigators in the social sciences and humanities also place their work on this platform from time to time. It’s a good idea to check out which platforms others in your discipline are using for their profiles.

Staying up-to-date

Of course, DPIs don’t work as intended unless researchers keep their profiles current. That means you need to check your profile after every publication and every time you switch to a new institution. Just as you would update your CV, you must update your ORCID or other DPI profile.

One tactic Malone suggests is setting a schedule either biweekly or monthly to check all your profiles. “One thing that’s helpful is that with all of them, you can set up alerts and create an alert as often as you want,” Malone goes on. “At that time, the program will scrawl the content within the source and alert you to anytime any of your publications appear in their database.”

The Big Idea

No one tool can paint a complete picture of all your scholarship. Be strategic and intentional about which platforms you use. Consider your audience, the platforms others in your discipline use and make sure you have an ORCID profile to comply with the federal mandate. But be careful not to sign up for more than you can feasibly maintain and keep current.

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This article originally appeared on the University of Houston's The Big Idea. Sarah Hill, the author of this piece, is the communications manager for the UH Division of Research.

The project will focus on testing 5G networks for software-centric architectures. Photo via Getty Images

Rice lands federal funding for new 5G testing framework

money moves

A team of Rice University engineers has secured a $1.9 million grant from the U.S. Department of Commerce’s National Telecommunications and Information Administration to develop a new way to test 5G networks.

The project will focus on testing 5G networks for software-centric architectures, according to a statement from Rice. The funds come from the NTIA's most recent round of grants, totaling about $80 million, as part of the $1.5 billion Public Wireless Supply Chain Innovation Fund. Other awards went to Virginia Tech, Northeastern University, DISH Wireless, and more.

The project at Rice will be led by Rahman Doost-Mohammady, an assistant research professor of electrical and computer engineering; and Ashutosh Sabharwal, the Ernest Dell Butcher Professor of Engineering and chair of the Department of Electrical and Computer Engineering. Santiago Segarra, assistant professor of electrical and computer engineering and an expert in machine learning for wireless network design, is also a co-principal investigator on this project.

"Current testing methodologies for wireless products have predominantly focused on the communication dimension, evaluating aspects such as load testing and channel emulation,” said Doost-Mohammady said in a statement. “But with the escalating trend toward software-based wireless products, it’s imperative that we take a more holistic approach to testing."

The new framework will be used to "assess the stability, interoperability, energy efficiency and communication performance of software-based machine learning-enabled 5G radio access networks (RANs)," according to Rice, known as ETHOS.

Once created, the team of researchers will use the framework for extensive testing using novel machine learning algorithms for 5G RAN with California-based NVIDIA's Aerial Research Cloud (ARC) platform. The team also plans to partner with other industry contacts in the future, according to Rice.

“The broader impacts of this project are far-reaching, with the potential to revolutionize software-based and machine learning-enabled wireless product testing by making it more comprehensive and responsive to the complexities of real-world network environments,” Sabharwal said in the statement. “By providing the industry with advanced tools to evaluate and ensure the stability, energy efficiency and throughput of their products, our research is poised to contribute to the successful deployment of 5G and beyond wireless networks.”

Late last year, the Houston location of Greentown Labs also landed funds from the Department of Commerce. The climatetech startup incubator was named to of the Economic Development Administration's 10th cohort of its Build to Scale program and will receive $400,000 with a $400,000 local match confirmed.

Houston-based nonprofit accelerator, BioWell, also received funding from the Build to Scale program.

The fresh $3.3 billion for Texas will complement the $1.5 billion in state money that Texas lawmakers recently earmarked to improve broadband access. Photo via Getty Images

Texas secures $3.3B in federal funding to expand broadband internet

major investment

Texas is receiving over $3.3 billion in federal funding — more than any other state — to expand broadband internet access the state.

Much of that money undoubtedly will be pumped into the Houston metro area, where a little over 180,000 (about 7 percent) of the more than 2.6 million households have no internet access.

The National Telecommunications and Information Administration announced June 26 that the 50 states plus the District of Columbia and U.S. territories will share nearly $42.5 billion in broadband internet funding allocated under the federal Infrastructure Investment and Jobs Act. The law went on the books in 2021.

“This is a watershed moment for millions of people across America who lack access to a high-speed Internet connection. Access to Internet service is necessary for work, education, healthcare, and more,” Alan Davidson, assistant secretary of commerce for communication and information, says in a news release.

Previously, the federal government had announced more than $20 billion in separate broadband funding.

The fresh $3.3 billion for Texas will complement the $1.5 billion in state money that Texas lawmakers recently earmarked to improve broadband access. This November, Texans will vote on a constitutional amendment that would set up a state-run fund for the $1.5 billion.

All of the money will be geared toward bringing Texas’ internet infrastructure up to date. State data shows 7 million Texans in 2.8 million households lack broadband internet access.

The Federal Communications Commission says broadband internet access delivers a minimum download speed of 25 Mbps and minimum upload speed of 3 Mbps. Those are considered adequate speeds for a family of three or a business with five to 10 employees.

“Although that’s enough speed for basic internet use, it’s actually a bit slow by today’s standards, since many internet service providers offer 100Mbps speeds as basic-level plans,” HighSpeedInternet.com points out.

The Texas Broadband Development Office, which oversees the state’s broadband internet program, says high-speed internet access “is increasingly seen as a requirement for modern life.” State Comptroller Glenn Hegar, whose agency oversees the office, has said it will take $10 billion to deliver full broadband internet access in Texas.

The Broadband Development Office will oversee distribution of the broadband funding in Texas. It plans to start accepting grant applications in 2024.

Hegar says Texas received more broadband funding than any other state “because the challenge facing our state is unique.”

“Texas has a large population with a significant share of unserved areas spread over a vast and geographically diverse landscape. The bipartisan legislation that appropriated these funds recognized the importance of giving states the flexibility to meet the needs of their unique populations,” Hegar says in a news release.

U.S. Rep. Lizzie Fletcher, a Houston Democrat, has proposed legislation (the Broadband Incentives for Communities Act) that would help state and local governments take advantage of the infusion of broadband cash. She says these governments need money — in the form of federal grants — to hire and train employees, install software, and make other improvements so they can handle an expected flood of requests for broadband funding.

“Many of the communities that need broadband access the most have the fewest resources to implement these projects. We must ensure that they are not left behind while we make this monumental investment in the country’s broadband infrastructure,” Fletcher wrote in a June 14 letter to U.S. Commerce Secretary Gina Raimondo.

The White House aims to connect every American to affordable high-speed internet service by 2030. Today, an estimated 24 million Americans lack access to high-speed internet. Millions more deal with limited or unreliable service.

“High-speed Internet isn’t a luxury anymore; it’s become an absolute necessity,” President Joe Biden said at a White House event announcing the $42.5 billion in federal broadband funding.

“I’ve gotten letters and emails from across the country from people who are thrilled that after so many years of waiting, they’re finally going to get high-speed Internet,” Biden added.

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Houston edtech company closes oversubscribed $3M seed round

fresh funding

Houston-based edtech company TrueLeap Inc. closed an oversubscribed seed round last month.

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."

“The last mile is where most digital transformation efforts break down,” Sandip Bordoloi, CEO and president of TrueLeap, said in a news release. “TrueLeap was built to operate where bandwidth is limited, power is unreliable, and institutions need real systems—not pilots. This round allows us to scale infrastructure that actually works on the ground.”

True Leap works to address the digital divide in education through its AI-powered education, workforce systems and digital services that are designed for underserved and low-connectivity communities.

The company has created infrastructure in Africa, India and rural America. Just this week, it announced an agreement with the City of Kinshasa in the Democratic Republic of Congo to deploy a digital twin platform for its public education system that will allow provincial leaders to manage enrollment, staffing, infrastructure and performance with live data.

“What sets TrueLeap apart is their infrastructure mindset,” Joe Swinbank, General Partner at Joe Swinbank Family Limited Partnership, added in the news release. “They are building the physical and digital rails that allow entire ecosystems to function. The convergence of edge compute, connectivity, and services makes this a compelling global infrastructure opportunity.”

TrueLeap was founded by Bordoloi and Sunny Zhang and developed out of Born Global Ventures, a Houston venture studio focused on advancing immigrant-founded technology. It closed an oversubscribed pre-seed in 2024.

Texas space co. takes giant step toward lunar excavator deployment

Out of this world

Lunar exploration and development are currently hampered by the fact that the moon is largely devoid of necessary infrastructure, like spaceports. Such amenities need to be constructed remotely by autonomous vehicles, and making effective devices that can survive the harsh lunar surface long enough to complete construction projects is daunting.

Enter San Antonio-based Astroport Space Technologies. Founded in San Antonio in 2020, the company has become a major part of building plans beyond Earth, via its prototype excavator, and in early February, it completed an important field test of its new lunar excavator.

The new excavator is designed to function with California-based Astrolab's Flexible Logistics and Exploration (FLEX) rover, a highly modular vehicle that will perform a variety of functions on the surface of the moon.

In a recent demo, the Astroport prototype excavator successfully integrated with FLEX and proceeded to dig in a simulated lunar surface. The excavator collected an average of 207 lbs (94kg) of regolith (lunar surface dust) in just 3.5 minutes. It will need that speed to move the estimated 3,723 tons (3,378 tonnes) of regolith needed for a lunar spaceport.

After the successful test, both Astroport and Astrolab expressed confidence that the excavator was ready for deployment. "Leading with this successful excavator demo proves that our technology is no longer theoretical—it is operational," said Sam Ximenes, CEO of Astroport.

"This is the first of many implements in development that will turn Astrolab's FLEX rover into the 'Swiss Army Knife' of lunar construction. To meet the infrastructure needs of the emerging lunar economy, we must build the 'Port' before the 'Ship' arrives. By leveraging the FLEX platform, we are providing the Space Force, NASA, and commercial partners with a 'Shovel-Ready' construction capability to secure the lunar high ground."

"We are excited to provide the mobility backbone for Astroport's groundbreaking construction technology," said Jaret Matthews, CEO of Astrolab, in a release. "Astrolab is dedicated to establishing a viable lunar ecosystem. By combining our FLEX rover's versatility with Astroport's civil engineering expertise, we are delivering the essential capabilities required for a sustainable lunar economy."

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This article originally appeared on CultureMap.com.

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

drug money

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

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.

The funding was raised through a definitive securities purchase agreement for the purchase and sale of more than 2.5 million shares of Coya's common stock in a private placement at $4.40 per share.

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.

The company received FDA acceptance for its investigational new drug application for COYA 302 for treating ALS and FTD this summer. Its ALSTARS Phase 2 clinical trial for ALS treatment launched this fall in the U.S. and Canada and has begun enrolling and dosing patients. Coya CEO Arun Swaminathan said in a letter to investors that the company also plans to advance its clinical programs for the drug for FTD therapy in 2026.

Coya was founded in 2021. The company merged with Nicoya Health Inc. in 2020 and raised $10 million in its series A the same year. It closed its IPO in January 2023 for more than $15 million. Its therapeutics uses innovative work from Houston Methodist's Dr. Stanley H. Appel.

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