Houston energy blockchain company announces $7.7M in funding, plans to expand to the Middle East

money moves

Data Gumbo, founded and led by Andrew Bruce, has announced its latest funding. Photo courtesy of Data Gumbo

A Houston-based tech company has announced another round of funding to support its blockchain network growth as well as to establish a presence in the Middle East.

Data Gumbo has closed its series B funding round totaling $7.7 million with follow-on investments led by Equinor Ventures. The round includes participation from Saudi Aramco Energy Ventures and Bay Area and Houston-based venture firm L37. The round's first close was announced in September 2020 at $4 million. The additional funds to close the Series B will be used to scale Data Gumbo to serve demand for GumboNet™ and GumboNet™ ESG. Additionally, Data Gumbo plans to establish a presence in the Middle East to cover expected demand growth in the region.

"The successful close of our series B is continued proof of the efficacy and booming interest in our ability to capture critical cost savings, deliver trust and provide transparency across commercial relationships," says Andrew Bruce, founder and CEO of Data Gumbo, in a news release. "Compounded by the growing demand for transparent, accurate sustainability data and the launch of our automated ESG measurement solution, GumboNet™ ESG, Data Gumbo's trajectory is well-positioned to serve our growing customer base by ensuring economic productivity and value. This infusion of capital will support our expansion efforts as we bring more international users to our network."

With this latest raise, Data Gumbo's total funding raised to date is $18.4 million.

"Data Gumbo's success is marked by a wide variety of business use cases and opportunities for expansion," says Bruce Niven, chief investment officer at Aramco Ventures, in the release. "Our continued investment is a testament to our continued support as the company attracts new customers, experiences further demand for its network and gains traction in new markets."

The company's technology features smart contract automation and execution, which reduces contract leakage, frees up working capital, enables real-time cash and financial management, and delivers provenance with unprecedented speed, accuracy, visibility and transparency, per the release.

"Data Gumbo is the market leader for smart contracts backed by blockchain, and the coming year will be a period of exponential growth for the company as they penetrate new industrial markets," says Kemal Farid, partner at L37, in the release. "We believe strongly that GumboNet will become the de facto network for smart contracts across industries for capturing value and solving enormous pain points in contractual relations. Additionally, as companies move to meet increasing sustainability measurement demands and ESG improvements, there is a huge growth path available for Data Gumbo with the launch of GumboNet ESG."

Earlier this year, the company announced its environmental, social and corporate governance tracking and reporting tool.

"Equinor's recent pilot at the Johan Sverdrup field has demonstrated that GumboNet can create strong value for the partnership," says Gareth Burns, head of Equinor Ventures, in the release. "Our follow-on investment confirms Equinor Ventures' confidence in Data Gumbo's solution for our company and the broader energy industry."

Data Gumbo, founded by Andrew Bruce, has launched a new tool for customers focused on transparency and ESG reporting. Photo courtesy of Data Gumbo

Houston blockchain-as-a-service company rolls out automated ESG tool

sustainable tech

A Houston tech company that has created a blockchain-backed interconnected industrial smart contract network is announcing a new tool to help its industrial clients automate environmental, social and corporate governance tracking and reporting.

Data Gumbo, provider of GumboNet™, announced today its new tool, GumboNet ESG, a sustainability measurement solution that can pull together a company's operational data to ESG standards reporting. The tool incorporates the Sustainability Accounting Standards Board framework for transparency and allows industrial companies access to real-time verifiable environmental performance monitoring.

"GumboNet ESG provides the ability to execute a company's monitoring of sustainability goals over time across their supply chain, providing trustworthy and auditable reports for the market against the credible and widely used SASB standards," says Andrew Bruce, founder and CEO of Data Gumbo, in a news release. "It's a new dawn for reliable and automated environmental impact measurements based on smart contracts powered and secured by blockchain."

Existing Data Gumbo customers will have access to the GumboNet ESG as part of their GumboNet subscription. All GumboNet ESG users can use the ESG tool to provide verified and transparent reporting to their customers, investors, media, and more.

"Data Gumbo is poised to address sustainability measurement growing pains with near real-time environmental data from the field," says Jeff Cohen, CAIA, director of Capital Markets Integration, in the release. "GumboNet ESG stands to enable accurate, automated measurement by industrial sectors as to their carbon emissions, while saving time, human capital and money. This solution supports better reporting into SASB standards in a way that could ultimately scale to all sectors of the economy."

Founded in 2016 and originally beginning in the energy industry, Data Gumbo has since expanded into water management and construction and has made international expansions, as well as raising over $13 million in venture capital investment, most recently a series B round that closed last year.

With the robust network and reliability of GumboNet, growing client base, and an increased focus on ESG across industries, it made sense to Bruce to tap into ESG reporting for customers.

"Our smart contract network is extremely efficient in its ability to track, report and audit the carbon footprint across supply chains," Bruce says in the release. "This is based on field data and facts, not estimates, as it's also the data that companies are invoicing with and paying bills off. GumboNet ESG empowers companies to tackle previously nonexistent, difficult or subpar measurement strategies around emissions and carbon tracking, providing the trust required for accurate, provable — not estimated — ESG reporting."

Ad Placement 300x100

Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

New accelerator for sports, health AI startups to launch at the Ion

The Collectiv Foundation and Rice University have established a sports, health and wellness startup accelerator at the Ion District’s Collectiv, a sports-focused venture capital platform.

The AI Native Dual-Use Sports, Health & Wellness Accelerator, scheduled to formally launch in March, will back early-stage startups developing AI for the sports, health and wellness markets. Accelerator participants will gain access to a host of opportunities with:

Mentors
Advisers
Pro sports teams and leagues
University athletics programs
Health care systems
Corporate partners
VC firms
Pilot projects
University-based entrepreneurship and business initiatives

Accelerator participants will focus on sports tech verticals inlcuding performance and health, fan experience and media platforms, data and analytics, and infrastructure.

“Houston is quickly becoming one of the most important innovation hubs at the intersection of sports, health, and AI,” Ashley DeWalt, co-founder and managing partner of The Collectiv and founder of The Collectiv Foundation, said in a news release.

“By launching this platform with Rice University in the Ion District,” he added, “we are building a category-defining acceleration engine that gives founders access to world-class research, global sports properties, hospital systems, and venture capital. This is about turning sports-validated technology into globally scalable companies at a moment when the world’s attention is converging on Houston ahead of the 2026 World Cup.”

The Collectiv accelerator will draw on expertise from organizations such as the Rice-Houston Methodist Center for Human Performance, Rice Brain Institute, Rice Gateway Project and the Texas Medical Center.

“The combination of Rice University’s research leadership, Houston’s unmatched health ecosystem, and The Collectiv’s operator-driven investment platform creates a powerful acceleration engine,” Blair Garrou, co-founder and managing partner of the Mercury Fund VC firm and a senior adviser for The Collectiv, added in the release.

Additional details on programming, partners and application timelines are expected to be announced in the coming weeks.

4 Houston-area schools excel with best online degree programs in U.S.

Top of the Class

Four Houston-area universities have earned well-deserved recognition in U.S. News & World Report's just-released rankings of the Best Online Programs for 2026.

The annual rankings offer insight into the best American universities for students seeking a flexible and affordable way to attain a higher education. In the 2026 edition, U.S. News analyzed nearly 1,850 online programs for bachelor's degrees and seven master's degree disciplines: MBA, business (non-MBA), criminal justice, education, engineering, information technology, and nursing.

Many of these local schools are also high achievers in U.S. News' separate rankings of the best grad schools.

Rice University tied with Texas A&M University in College Station for the No. 3 best online master's in information technology program in the U.S., and its online MBA program ranked No. 21 nationally.

The online master's in nursing program at The University of Texas Medical Branch in Galveston was the highest performing master's nursing degree in Texas, and it ranked No. 19 nationally.

Three different programs at The University of Houston were ranked among the top 100 nationwide:

No. 18 – Best online master's in education
No. 59 – Best online master's in business (non-MBA)
No. 89 – Best online bachelor's program

The University of Houston's Clear Lake campus ranked No. 65 nationally for its online master's in education program.

"Online education continues to be a vital path for professionals, parents, and service members seeking to advance their careers and broaden their knowledge with necessary flexibility," said U.S. News education managing editor LaMont Jones in a press release. "The 2026 Best Online Programs rankings are an essential tool for prospective students, providing rigorous, independent analysis to help them choose a high-quality program that aligns with their personal and professional goals."

A little farther outside Houston, two more universities – Sam Houston State University in Huntsville and Texas A&M University in College Station – stood out for their online degree programs.

Sam Houston State University

No. 5 – Best online master's in criminal justice
No. 30 – Best online master's in information technology
No. 36 – Best online master's in education
No. 77 – Best online bachelor's program
No. 96 – Best online master's in business (non-MBA)

Texas A&M University

No. 3 – Best online master's in information technology (tied with Rice)
No. 3 – Best online master's in business (non-MBA)
No. 8 – Best online master's in education
No. 9 – Best online master's in engineering
No. 11 – Best online bachelor's program

---

This article originally appeared on CultureMap.com.

Houston wearable biosensing company closes $13M pre-IPO round

fresh funding

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

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

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

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

The company says that the funding will go toward commercializing the next generation of the S-Patch, known as the S-Patch MX, which will be able to capture more than 30 biometric signals, including ECG, temperature and body composition.

Wellysis also reports that it will use the funding to expand its Houston-based operations, specifically in its commercial, clinical and customer success teams.

Additionally, the company plans to accelerate the product development of two other biometric products:

CardioAI, an AI-powered diagnostic software platform designed to support clinical interpretation, workflow efficiency and scalable cardiac analysis
BioArmour, a non-medical biometric monitoring solution for the sports, public safety and defense sectors

“This pre-IPO round validates both our technology and our readiness to scale globally,” Young Juhn, CEO of Wellysis, said in the release. “With FDA-cleared solutions, expanding U.S. operations, and a strong AI roadmap, Wellysis is positioned to redefine how cardiac data is captured, interpreted, and acted upon across healthcare systems worldwide.”

Wellysis was founded in 2019 as a spinoff of Samsung. Its S-Patch runs off of a Samsung Smart Health Processor. The company's U.S. subsidiary, Wellysis USA Inc., was established in Houston in 2023 and was a resident of JLABS@TMC.

View All Listings

INNOVATIONMAP EMAILS ARE AWESOME