Local fund of funds to put a national spotlight on venture capital in Houston

Houston Innovators Podcast Episode 66

Guillermo Borda and Sandy Guitar, managing directors at the HX Venture Fund, join the Houston Innovators Podcast to discuss Venture Houston. Photos courtesy

The role of the HX Venture Fund is to pull out-of-Houston venture capital funds into the Houston innovation ecosystem — and the fund of funds is hoping to exactly that with an inaugural event next month.

Venture Houston, which is taking place online on February 4th and 5th, will bring together entrepreneurs, corporations, venture capital investors, and startup development organizations for a summit full of thought leadership — as well as a startup pitch competition with over $1.7 million on the line. (InnovationMap is the media partner for the event.)

HXVF Managing Directors Guillermo Borda and Sandy Guitar joined the Houston Innovators Podcast this week to discuss what they are most excited from the events.

"In this conference, we have representation from all stakeholders," Borda says, recognizing that HXVF has connected VCs with more than $4 billion of ready-to-deploy capital to Houston startups. "This conference is a way of engaging that further — we call that activation."

With the rollercoaster that 2020 was, Borda and Guitar recognize how timely a conference like this is. Guitar says on the show that with all the challenges that came with remote working, investors are all the more prepared for the future. Besides, she adds, a crisis is a perfect time for technology to rise to the top.

"COVID is real and the disruption is significant, but in the eyes of a venture capitalist, this is opportunity," Guitar says. "This is a groundbreaking time for VCs. ... The best VCs and the best entrepreneurs are leaning in on these opportunities."

With HXVF's ultimate goal to drive investment into Houston startups, Venture Houston will also feature a startup pitch competition that will have investment opportunities from the likes of Mercury Fund, The Artemis Fund, Montrose Lane, Fitz Gate Ventures, and more. Startups can apply to the contest online until Friday, January 15.

"We are asking as many Houston entrepreneurs who are considering raising capital now or any time in the next year to apply to this pitch competition," Guitar says. "The prizes we have are phenomenal and can really help get a young company started."

Guitar and Borda discuss more about the event and the future of venture capital in Houston on the show. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


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The HX Venture Fund has grown its portfolio of venture capital firms with its latest investments. Getty Images

Houston's fund of funds announces 2 new investments

money moves

The HX Venture Fund, which invests in out-of-town venture capital funds that have their eyes on Houston startups, has grown its portfolio.

The fund of funds now has a portfolio of 10 VCs from across the country, across industries, and across startup stages. According to a recent announcement, the HX Venture Fund has invested in New York-based Greycroft Venture Partners and Washington D.C.-based Revolution Ventures. The announcement also included Boston-based Material Impact and San Francisco-based venBio Global Strategic Fund, however those had been previously reported by InnovationMap.

"We are delighted to partner with the general partners of Greycroft Venture Partners, Material Impact, Revolution Ventures, and venBio Global Strategic Fund," says Sandy Guitar, managing director of HX Venture Fund, in the release. "With their proven expertise and exceptional track records, we are excited to integrate them into Houston networks and not only give them access to the Fund's innovative corporate limited partners, but also harness their knowledge to empower Houston entrepreneurs."

These four VC funds join six others that HXVF has invested in: Austin-based LiveOak Venture Partners and Next Coast Ventures, Washington D.C.-based Updata Partners, Chicago-based Baird Capital, and Boston-based .406 Ventures and OpenView Venture Partners.

"The receptivity of the HX Venture Fund model has exceeded all our expectations. Since early 2019, over 217 venture capital funds across the U.S. have expressed definitive interest in participating in our model," says Guillermo Borda, managing director of HX Venture Fund, in the release.

"It is especially noteworthy that collectively, the ten funds selected for HX Venture Fund's portfolio have $3.7 billion in committed capital in their funds to be invested with Houston on their investment radar," Borda adds. "This is at a time that provides compelling investment opportunities in the economic cycle. This is an exciting time for Houston entrepreneurs and our innovation ecosystem."

Guitar previously told InnovationMap that she's looking to curate a portfolio of VCs that is diverse in industries and stage. Additionally, before investing in a VC, the HX Venture Fund looks for an interest in investing into Houston startups. The hope is that, while not required, the HXVF portfolio funds invest in a Houston startup down the road. Earlier this year, Houston-based Liongard became the fund of funds' first example of that.

"The innovation and talent in Houston are best-in-class; we want to be investing there," says Tige Savage, managing partner at Revolution Ventures, in the release.

The HX Venture Fund reached a proof point of its model — one that arrived much earlier than expected. Getty Images

Houston's fund of funds expands its portfolio and team after reaching benchmark with local investment

money moves

When a Houston software startup closed a $17 million series B funding round, it was a big win for more than just the startup. Not only was the deal among the few Houston venture capital deals to happen amid the COVID-19 outbreak, but it represented a proof of concept for Houston's fund of funds.

The HX Venture Fund was founded in October of 2018 to encourage investment into local startups by raising corporate funds and investing into a portfolio of non-Houston venture capital funds that show an interest in Houston. HXVF hit a milestone last month when Liongard, a software-as-a-service company based in Houston, closed its fundraising round led by Updata Partners — one of HXVF's portfolio funds.

To date, the HXVF has reviewed over 150 venture capital funds and invested in eight: Austin-based LiveOak Venture Partners and Next Coast Ventures, Washington D.C.-based Updata Partners, Chicago-based Baird Capital, San Francisco-based VenBio, and Boston-based .406 Ventures, OpenView Venture Partners, and Material Impact Fund. Since each investment, those funds have invested in over 30 startups that are also included in the greater HXVF portfolio.

These HXVF portfolio funds represent various stages — from seed to growth stages, like Liongard — and across industries, from software and hardware to life sciences — "the whole gamut," says Sandy Guitar, managing director of HXVF.

"What that means now is there is over $2 billion of venture capital that actively has Houston on its radar right now," Guitar tells InnovationMap.

The Liongard investment represents a proof point for the fund of funds — one that comes earlier than expected. HXVF invested in Updata less than six months before Liongard closed its round with Updata's lead investment. Guitar says she expected to get to this milestone within 18 to 24 months of the fund of funds deploying capital — and it's happened in just nine months.

"You have this trickle down effect, where it can easily take two to three years to get your capital at work," Guitar says, explaining that HXVF first has to raise funds from its corporate partners, then vet and invest in the VCs, and, finally, wait to see how those funds invest.

Of course, the pandemic has not exactly helped the growth of Houston's startup and venture capital sectors. While COVID-19 has allowed growth in some sectors — telemedicine, for instance — it has limited the opportunities for startups to test the market.

"To build great startups, a startup has to do what I call 'run into walls.' They have to test the market, get it wrong, and pivot. The problem right now is there are no walls to run into," Guitar says. "You have to have an actively running economy and market for proof points of what's working and what's not working."

Meanwhile, Guitar observes, VC investors have limited their activity to their own networks due to the inability to meet face-to-face with unfamiliar startups. Comparing the VC-startup relationship to a marriage, you wouldn't meet and marry someone you've never met in person just like investors wouldn't fund an entrepreneur they have only ever met via Zoom.

"A lot of VCs are staying in their known networks in the short term," says Guitar, while, in the long term, VCs are going to rely on introductions to entrepreneurs from their network.

With this benchmark secured, HXVF is continuing to grow its portfolio — as well as its team. Recently, Guitar — who runs the fund with Guillermo Borda — brought on Houston native Aleece Hobson as venture partner.

"Aleece joining is a phenomenal step for us — a dedicated resource and venture partner on activation," says Guitar on the hire. "I think it speaks to the seriousness of purpose we have to make this not just an investment platform, but one that moves the needle on Houston."

Guitar says HXVF is also growing its limited partners with the addition of Rice University, which joins the likes of HEB, Shell, Chevron, and Houston Methodist — to name a few.

"We're going to be getting even closer to our limited partners' needs and introducing them to the 34 portfolio companies," Guitar says "and creating meaningful collisions between those two groups."

Aleece Hobson joined the HX Venture Fund as venture partner. Photo courtesy of HXVF

Pat Matthews of Active Capital visited Houston with a collaboration with the HX Venture Fund. Photo courtesy of Active Capital

Here's how a visiting venture capitalist explores Houston's startup ecosystem for the first time

a day in the life

When Houston Exponential established the HX Venture Fund, the goal was to bring out-of-town capital and investors into the city of Houston. The fund of funds invests in a portfolio of venture capital funds with the hope that those funds find a way back into the Houston startup ecosystem.

After a little over a year, HXVF has invested in five funds: Boston-based .406 Ventures, Austin-based Next Coast Ventures, Boston-based OpenView Venture Partners, Washington D.C.-based Updata Partners, and Austin-based LiveOak Venture Partners.

The fund of funds is also regularly hosting those five funds — as well as a mix of potential portfolio fund members — in Houston for what the HXVF calls "immersion days" where the venture capitalists can meet local startups, innovation leaders, and even fellow investors that they could eventually co-invest with.

"The goals of these days are to have venture capitalists travel to Houston, meet with our entrepreneurs (and the startup development organizations like Station, Cannon and WeWork that support them), and provide both capital and expertise in company building to the tech companies," says Sandy Guitar Wallis, managing partner at HXVF. "The venture capitalists also meet with HX Venture Fund corporate LPs, who can be customers or acquirers of their portfolio companies."

Just this month alone, HXVF is hosting four funds — two from their portfolio and two that they haven't yet invested in. San Antonio-based Active Capital, which has raised a $21 million fund, is among the visiting VCs this month. The fund's founder, Pat Matthews, an entrepreneur turned venture capitalist, has shared his busiest day — February 5 — as well as his perspective on Houston innovation with InnovationMap.

A morning too busy for breakfast

After waking up at the Hotel Derek, Matthews starts his second day in Houston by taking a Lyft to the Greater Houston Partnership for what he believes to be a breakfast meeting with Wallis and Guillermo Borda of HXVF, but the group has too much to discuss that a meal falls by the wayside.

Before this trip, Matthews hasn't visited Houston in a professional capacity. While Active Capital is based just down I10 in San Antonio, the firm's investments are split almost in half by deals done in Texas versus the rest of the world. Active Capital focuses on B2B SaaS investments — usually leading — in seed or series A rounds.

Matthews has called Texas home for around a decade. He founded an email marketing startup in Virginia, which was acquired by San Antonio-based Rackspace. He relocated to join Rackspace and worked on growing the organization for six years before creating Active Capital.

Following the meeting — still unfed, Matthews meets up with Serafina Lalany from Houston Exponential to carpool to The Cannon on the west side of town.

Loading up on carbs and fireside chats

Matthews forgoes his usual carb aversion to eat slices of Domino's pizza at The Cannon before beginning his first of three fireside chats with Houston innovators. Patrick Schneidau, CEO of Truss, leads the conversation at The Cannon. (Schneidau is a board member of InnovationMap's.) After the chat, Matthews has a meeting with a startup before heading back into town.

With one fireside chat down, Matthews heads into his second one of the day at Station Houston with Joe Alapat, founder of Liongard. Matthews observes that each of the entrepreneurs who interviewed him had great questions, and seemed to be far along with their companies. Meanwhile, any of the people he met before or after the chat seemed to be at a much earlier stage in their startup journey.

The last fireside chat was hosted by Rakesh Agrawal of Snapstream at WeWork's Jones Building location. Matthews and Agrawal attempted to set up a Facebook livestream for the conversation, but an issue with the technology wouldn't allow for the stream.

An evening of good food and great mentorship

With meetings and fireside chats done, Matthews heads straight to a dinner with Blair Garrou, founder and managing director of Mercury Fund. The two venture capitalists dine at Eunice and split several appetizers and a bottle of wine while discussing their own recent investments and interests. Matthews, who met Garrou in 2014, thinks of him as a great mentor in venture capital.

Matthews headed back to the hotel after dinner and crashes hard after the long day. He would head back to San Antonio on a Vonlane bus — he gets a lot of work done on his trips — the next day.

What's next for Active Capital and Houston?

Matthews says he left Houston with an overall positive opinion of the city, and says it's similar to other Texas cities, aside from Austin, in its startup presence and capacity. While he assumed he'd meet energy and space startups, he realized Houston had a lot more going on than that.

"It definitely seemed like there was a lot of passion and a lot of hustle," Matthews says. "And it seems like the city is really working to support and cultivate that and keep it in Houston. I was inspired."

Throughout the visit, Matthews handed out his business card and some conversations have developed from those connections, he says. Another representative from Active Capital who is focused on sourcing deals with startups will visit next, and Matthews says he also thinks that he'll return to Houston to continue conversations he's been having, including some with other investors.

"I could definitely see doing deals in Houston," Matthews tells InnovationMap.

LiveOak Venture Partners, an Austin-based firm, is the first recipient of Houston Exponential's fund of funds. Courtesy of LiveOak

Houston venture fund of funds doles out $5 million in Austin firm in its first investment

money moves

After closing its initial round of funding last year, Houston Exponential's fund of funds, called the HX Venture Fund, has closed its first investment on March 29. Austin-based LiveOak Venture Partners received a $5 million investment from the fund.

The HX Venture Fund raised $30 million after launching in October of last year. The fund's goal is to invest in out-of-Houston venture funds in the hopes that they reinvest that money into Houston startups.

"We invested in LiveOak Venture II because of the firm's compelling investment track record, expertise and vigor of the general partners, their extensive network of relationships with proven entrepreneurs, and their focus on capital efficient early stage technology companies in Texas," says Guillermo Borda, managing partner at HX Venture Fund, in a release. "LiveOak's team is committed to making a significant impact in the Houston startup ecosystem."

The HX investment is a part of LiveOak's Fund II, which was oversubscribed and closed at $105 million, the company announced today. According to a release from LiveOak, Fund II is a continuation to the firm's dedication to Texas entrepreneurship. The fund will focus on funding within the state's four largest tech hubs — Austin, Houston, Dallas and San Antonio — and have initial investments ranging from $2 million to $4 million, the release states.

The firm's portfolio focuses on seed and series A funding, and most of its investments are Austin-based, with the exception of three Dallas companies. LiveOak invested in Houston-founded CS Disco, an AI-enabled tool for legal business, but the company has since moved to Austin, according to a public relations representative. LiveOak also invested in San Antonio-founded Infocyte, but the company also relocated to Austin.

Houston has been a strategic market for LiveOak, says managing partner, Krishna Srinivasan, in the release, citing the city's recent entrepreneurial activity.

"We are excited to partner with HX Venture Fund and its strategic investment partners, comprising multiple leading Houston based corporations, to catalyze and grow this activity," says Srinivasan, in the release. "Given LiveOak's investment strategy of being the leading source of capital for entrepreneurs across Texas, we view this investment as highly synergistic with our efforts to enable world-class, category dominating companies coming out of Houston."

HX modeled its fund after the Renaissance Venture Capital Fund in Michigan, from which 10 outside venture capital firms benefitted. Renaissance Fund reported positive results from the fund of funds and Chris Rizik, CEO and fund manager of Renaissance, serves as a member of the investment committee.

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Top innovators: 2024 Houston Innovation Awards finalists revealed

best of the rest

After nearly 300 nominations, InnovationMap and its group of judges are ready to reveal the finalists for this year's Houston Innovation Awards.

Taking place on Thursday, November 14, the Houston Innovation Awards celebrates all of Houston's innovation ecosystem — startups, entrepreneurs, investors, mentors, and more. Over 50 finalists will be recognized in particular for their achievements across 13 categories, which includes the 2024 Trailblazer Legacy Awards that were announced earlier this month.

Scroll down to see the 2024 Houston Innovation Awards finalists.

This year, 35 startups, 14 individuals, and six organizations will all be recognized, and winners will be named at the event. The finalists were decided by this year's judges after they reviewed over 130 applications.

If you are interested in sponsorship opportunities, please reach out to sales@innovationmap.com. If you have questions about the Houston Innovation Awards, email awards@innovationmap.com.

Minority-founded business, honoring an innovative startup founded or co-founded by BIPOC or LGBTQ+ representation

  • CLS Wind, a self-erection wind turbine tower system provider for the wind energy industry
  • Corrolytics, a technology startup founded to solve microbiologically influenced corrosion problems for Industrial assets
  • Gold H2, a startup that's transforming depleted oil fields into hydrogen-producing assets utilizing existing infrastructure
  • Nap Bar, a white-glove rest sanctuary, with an integration of artificial intelligence for professionals, entrepreneurs, and travelers to rest, recharge, and rejuvenate
  • Speakerbox Media, a B2B video agency that turns experts into thought leaders with engaging webinars and video podcasts, providing end-to-end content strategy and production.

Female-founded business, honoring an innovative startup founded or co-founded by a woman

  • Dauntless XR, a developer of extended reality software
  • EveryDopeGirl, a community building an interracial and intergenerational culture of support amongst women globally
  • Koda Health, provider of a tech-enabled care coordination service for improving serious illness care planning
  • March Biosciences, a clinical-stage cell therapy company with a mission to transform patient care in the most challenging hematological malignancies
  • nVenue, machine learning and AI technology provider that generates and delivers real-time odds and predictive analytics to sportsbooks and media

Energy transition business, honoring an innovative startup providing a solution within renewables, climatetech, clean energy, alternative materials, circular economy, and beyond

  • Amperon, an AI platform powering the smart grid of the future
  • ARIX Technologies, an integrated robotics and data analytics company that delivers inspection services through its robotics platforms
  • Elementium Innovations, a battery technology with liquid electrolyte solutions
  • InnoVent Renewables, a startup with proprietary continuous pyrolysis technology that converts waste tires, plastics, and biomass into valuable fuels and chemicals
  • Sage Geosystems, an energy company focused on developing and deploying advanced geothermal technologies to provide reliable power and sustainable energy storage solutions regardless of geography
  • Tierra Climate, a software provider that helps grid-scale batteries reduce carbon emissions

Health tech business, honoring an innovative startup within the health and medical technology

  • Allterum Therapeutics, a biopharmaceutical company creating a treatment for cancer
  • Bairitone Health, an AI-driven, sonar-based diagnostic imaging technology platform
  • Ictero Medical, a medical device company developing the first minimally-invasive cryoablation solution to treat gallstone disease
  • InformAI, a technology company dedicated to advancing healthcare through the development of AI-driven solutions in radiology, oncology and transplant surgery
  • Koda Health, provider of a tech-enabled care coordination service for improving serious illness care planning
  • March Biosciences, a clinical-stage cell therapy company with a mission to transform patient care in the most challenging hematological malignancies

AI/data science business, honoring an innovative startup utilizing artificial intelligence and data science within a tech solution

  • ARIX Technologies, an integrated robotics and data analytics company that delivers inspection services through its robotics platforms
  • Cognitive Space, an automated satellite operations provider that enables constellations to scale
  • Enovate Ai, a provider of business and operational process optimization for decarbonization and energy independence
  • nVenue, machine learning and AI technology provider that generates and delivers real-time odds and predictive analytics to sportsbooks and media
  • Voyager Portal, a software plaform that helps commodity traders and manufacturers in the O&G, chemicals, agriculture, mining, and project cargo sectors optimize the voyage management lifecycle

Deep tech business, honoring an innovative startup providing technology solutions based on substantial scientific or engineering challenges

  • FluxWorks, developer and manufacturer of magnetic gears and magnetic gear-integrated motors
  • Gold H2, a startup that's transforming depleted oil fields into hydrogen-producing assets utilizing existing infrastructure
  • Hertha Metals, developer of a technology that cost-effectively produces steel with fewer carbon emissions
  • Venus Aerospace, a deep tech company developing reusable hypersonic technology for aviation, defense, and beyond

Scaleup of the year, honoring an innovative later stage startup that's recently reached a significant milestone in company growth

  • Cart.com, a unified commerce and logistics solutions provider for B2C and B2B companies
  • Coya Therapeutics, a clinical-stage company developing therapies for neurodegenerative, autoimmune, and metabolic diseases
  • NanoTech Materials, a chemical manufacturer that integrates novel heat-control technology with thermal insulation, fireproofing, and cool roof coatings to drastically improve efficiency and safety
  • Square Robot, an advanced robotics company serving the energy industry and beyond by providing submersible robots for storage tank inspections
  • Syzygy Plasmonics, a company that's decarbonizing chemical production with a light-powered reactor platform that electrifies the production of hydrogen, syngas, and fuel with reliable, low-cost solutions

People’s choice: Startup of the Year, a startup celebrating a recent milestone or success and the winner will be selected by the community via online portal and announced at the event

  • Corrolytics, a technology startup founded to solve microbiologically influenced corrosion problems for Industrial assets
  • FlowCare, a startup advocating for free menstruation products in business and academic settings
  • InnoVent Renewables, a startup with proprietary continuous pyrolysis technology that converts waste tires, plastics, and biomass into valuable fuels and chemicals
  • MendIt, an app that quickly and easily connects users to professionals who specialize in mending and repairing clothing
  • Passport Journeys, an app connects mother-daughter pairs with licensed therapists
  • TrueLeap, an education technology company on a mission to accelerate access to quality education for emerging markets by integrating e-learning software, content, training, analytics, and community

Community champion organization, honoring a corporation, nonprofit, university, or other organization that plays a major role in the Houston innovation community

  • Energy Tech Nexus, a new global energy and carbon tech hub focusing on hard tech solutions that provides mentor, accelerator and educational programs for entrepreneurs and underserved communities.
  • Greentown Houston, a climatetech incubator and convener for the energy transition community that provides community engagement and programming in partnership with corporations and other organizations.
  • Houston Angel Network, supports Houston startups with capital, connections, and counsel and provides accredited investors access to startup deals in which they can invest, both locally and nationally.
  • Impact Hub Houston, a nonprofit that serves as a pivotal hub within the city's innovation ecosystem, fostering a dynamic environment where changemakers, entrepreneurs, and community leaders converge to drive social impact and innovation forward.
  • Microsoft, a global tech company that supports the local innovation ecosystem with mentorship and opportunities in underserved communities.
  • University of Houston, a Tier One research institution that fosters entrepreneurship, innovation, and commercialization of new technologies and leverages its research capabilities and diverse student body.

Ecosystem builder, honoring an individual who has acted as a leader in developing Houston’s startup ecosystem

Investor of the year, honoring an individual who is leading venture capital or angel investing

Mentor of the year, honoring an individual who dedicates their time and expertise to guide and support to budding entrepreneurs

Houston startup expands DOD partnership to provide clean energy at Texas site

seeing green

Expanding on its partnership with the United States Department of Defense's Defense Innovation Unit, Sage Geosystems has been selected to conduct geothermal project development initiatives at Naval Air Station in Corpus Christi.

Along with the Environmental Security Technology Certification Program, Sage will provide its proprietary Geopressured Geothermal Systems technology, will be able to evaluate the potential for geothermal baseload power generation to provide clean and consistent energy at the Naval Air Station base.

“We’re pleased to expand our partnership with the DOD at NAS Corpus Christi to demonstrate the advantages of geothermal technology for military energy independence,” Cindy Taff, CEO of Sage Geosystems, says in a news release.

Sage is also conducting initiatives at Fort Bliss and has completed an analysis at the Ellington Field Joint Reserve Base. The analyses could “pave the way for expanding geothermal energy solutions across additional U.S. military installations,” according to Sage.

The company’s proprietary technology works by leveraging hot dry rock, which is a more abundant geothermal resource compared to traditional hydrothermal formations, and it provides energy resilience for infrastructures. In addition, Sage is building a 3 megawatt commercial EarthStore geothermal energy storage facility in Christine, Texas, which is expected to be completed by December. Sage also announced a partnership with Meta Platforms. With Meta Platforms, Sage will deliver up to 150 megawatt of geothermal power generation east of the Rocky Mountains.

The Naval Air Station Corpus Christi is considered a critical training and operations hub for the U.S. Navy, and the partnership with Sage shows the Navy's commitment to achieving net-zero carbon emissions by 2045. Sage’s technology will be assessed for its ability to create a microgrid, which can reduce reliance on the utility grid and ensure power supply during outages.

“As we advance our Geopressured Geothermal Systems, we see tremendous potential to not only provide carbon-free power, but also strengthen the operational capabilities of U.S. military installations in an increasingly digital and electric world,” Taff adds.

In September, the Air Force awarded Sage a grant of $1.9 million in a first-of-its kind contract to determine whether a power plant using Geopressured Geothermal Systems is able to generate clean energy needed for a base to achieve energy resilience.

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This article originally ran on EnergyCapital.

3 Houston innovators to know this week

who's who

Editor's note: Every week, I introduce you to a handful of Houston innovators to know recently making headlines with news of innovative technology, investment activity, and more. This week's batch includes three Houston startup founders celebrating big wins.

Shreyans Chopra, founder of Mstack

Shreyans Chopra, founder of Mstack, is celebrating the close of his company's $40 million series A. Photo courtesy of Mstack

Houston-based Mstack, whose platform helps manufacturers source specialty chemicals, has raised $40 million in a series A funding round. The company says the infusion of cash will enable it to “double down on its mission to disrupt a historically flawed supply chain for specialty chemicals.”

“This new funding affirms investor confidence in our vision and technology to transform global markets. It enables us to expand geographically and intensify our R&D efforts,” Mstack founder Shreyans Chopra says. Read more.

Scott Deans, co-founder and CEO of BeOne Sports

Rice University's athletic programs will be supported by Houston startup BeOne Sports' technology. Photo via LinkedIn

Rice University — in an effort to enhance athletics and research-driven innovation — has formed a partnership with a startup founded by its alumni.

BeOne Sports, a sports performance technology company developed a platform for mobile motion-capture AI and advanced data analytics, will integrate its technology within Rice's sports medicine and rehabilitation programs.

“BeOne Sports was born from the collaborative environment at Rice, where business leaders and engineers work together to solve real-world problems” Scott Deans, co-founder and CEO of BeOne Sports, says. “Our mission is to provide cutting-edge technology to maximize potential in the simplest, fastest and most versatile ways possible. This partnership with Rice is an exciting step toward democratizing access to sports technology for athletes and coaches at all levels.” Read more.

Henal Patel, founder and CEO of DocJuris

Henal Patel, CEO of DocJurisDocJuris has raised its first round of venture funding to grow its team to keep up with demand for its legal software platform. Photo courtesy of DocJuris

Houston-based DocJuris, a leader in AI contract review, announced the successful closure of its series A funding round by raising $8 million in new capital. This brings the total capital raised to date to $11.2 million.

"DocJuris AI has become an industry-leading platform that empowers enterprise legal, procurement, and sales teams to close deals faster while reducing risk," DocJuris CEO and Founder Henal Patel says in a news release. "With this funding, we will continue scaffolding our platform around generative AI, expand our customer success team, and grow our user base." Read more.

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