Houston energy tech startup talks growth and national expansion following $5.5M series A

HOUSTON INNOVATORS PODCAST EPISODE 22

Adam Gilles and Lance Richardson, co-founders of Hitched Inc., join this week's episode of the Houston Innovators Podcast to discuss the digital marketplace's rapid growth. Photos courtesy of Hitched

Industrial operations might be a bit behind in technology advances, but that's going to start changing, according to Adam Gilles, CEO and co-founder of Houston-based Hitched Inc.

The software-as-a-service company acts as a digital marketplace and management solution for service providers renting industrial equipment. It's a platform not too unfamiliar for Airbnb — users can quickly rent machinery online without even having to pick up a phone and talk to anyone.

"I think streamline oil and gas is what everyone is trying to do," Gilles says on the industry's technology evolution. "I've always said that industrial technology will follow the path of consumer technology."

Gilles and his COO and co-founder, Lance Richardson, join this week's episode of the Houston Innovators Podcast to discuss the technology and Hitched's rapid growth and lofty goals.

"Change for a startup is like eating breakfast," Richardson says on the podcast. "Ultimately, [our goal] is to be the marketplace management tool for all of oil and gas."

Since its founding in 2018, Hitched has expanded throughout Texas and its surrounding states, with more expansion on the horizon. A recent $5.5 million series A round led by Houston-based Cottonwood Venture Partners has upped the ante on hiring new salespeople — Gilles says his team will grow to 50 people by the end of the year.

For now, Hitched rents out equipment within the oil and gas industry — where Gilles and Richardson have experience in — but the company will expand into other industrial sectors.

"As we've built this technology, it's industry agnostic," Gilles says. "Energy was the low-hanging fruit for us being that we've been in the industry for 10 years now with our contacts and what not, but frankly it makes sense for us to move into those other spaces."

Neither Gilles or Richardson are Houston natives — both recently relocated to give Hitched its best shot as a fast-growing, ready-for-scale tech company.

"Houston will always be the energy capital of the world, but as energy innovates, there's a good chance it will become a technology hub as well," Gilles says. "I can't see why a technology firm in the energy space wouldn't be based in Houston. It's just doesn't make sense to me."

Listen to the full episode below — or wherever you get your podcasts — and subscribe for weekly episodes.


Houston startups have raised millions so far this year. Getty Images

Here's what 6 Houston startups have raised millions of dollars this year so far

VENTURE ADVENTURES

This year is starting strong when it comes to Houston startups receiving funding. From a $125 million raise from Houston's first unicorn to a local fund gathering up $50 million to deploy in mobility startups, Houston funding news has been pretty exciting.

In case you missed some of these headlines, InnovationMap has rounded up these seven deals based on previous reporting. Scroll through to see which Houston startups are catching the eyes — and cashing the checks — of investors.

HighRadius Corp.

Houston-based HighRadius has reported reaching unicorn status following a $125 million raise. Photo via highradius.com

Let's start with the biggest one, shall we? Houston-based HighRadius, an artificial intelligence-powered fintech software company, closed a $125 million raise, which earned it a a new title: Unicorn.

The series B round, which achieved this status for HighRadius, was led by ICONIQ Capital, with participation from existing investors Susquehanna Growth Equity and Citi Ventures, according to a news release from the company.

The company, which offices in West Houston, was founded in 2006 founded in 2006 and employs more than 1,000 people in North America, Europe, and Asia. In November, HighRadius opened an office in Amsterdam. According to the news release, the company will use the funds to further expand its global footprint.

Read the full story here.

Proeza Ventures

Auto Driving Smart Car image

A new venture capital fund based in Houston and Monterrey, Mexico, has raised $50 million to back mobility startups. Hiroshi Watanabe/Getty Images

New fund Proeza Ventures, which is based in Houston and Monterrey, Mexico, reportedly closed its first fund Proeza Ventures I at $50 million. The fund is backed by Grupo Proeza, a Mexican portfolio management company with two global platforms operating in the mobility and agroindustry sectors, according to the fund's website.

With the fund's money, Proenza Ventures will invest in 12 to 15 early or growth-stage startups with solutions or new technology within industrial, smart components, new vehicles, MaaS, and digital data services.

Read the full story here.

Ambyint

oil and gas

Ambyint, which has offices in Calgary and Houston, has secured funding from Houston venture capital firms. Getty Images

Canada-based Ambyint, which has an office in Houston, has closed its $15 million series B funding. Houston-based Cottonwood Venture Partners led the round, and Houston-based Mercury Fund also contributed — as did Ambyint's management team, according to a news release.

The money will be used to grow both its Houston and Calgary, Alberta, offices and expand its suite of software solutions for wells and artificial lift systems. Ambyint's technology pairs artificial intelligence with advanced physics and subject matter expertise to automate processes on across all well types and artificial lift systems.

Read the full story here.

vChain Inc.

Houston-based vChain, creator of CodeNotary, has raised $7 million in a series A financing round. Pexels

Houston-based vChain, which created the CodeNotary Open Source code trust solution, has raised $7 million in a series A funding round. Paris-based Elaia Partners led the investment round, and other contributors include Zug, Switzerland-based Bluwat and Seattle-based Acequia Capital.

The software tool, which is used to ensure code is securely transmitted throughout the entire development to production process, has several platform integrations and works with languages such as JavaScript, Python, Go, Java, and more.

Read the full story here.

Vivante Health

good intestine health intestine Food for bowel Health

Vivante Health, which uses technology and at-home testing to help users treat chronic digestive health issues, has raised $5.8 million. Getty Images

Vivante Health raised $5.8 million in a series A1 round, according to a news release. The round was led by California-based Lifeforce Capital and Athens, Greece-based Big Pi Ventures. Additionally, NFP Ventures, FCA Venture Partners, and Longmont Capital contributed to the round.

With the fresh funds, Vivante will continue to develop its GI health platform, GIThrive. The digital tool has an at-home microbiome test kit for users, as well as a breath tester that monitors food sensitivities. GIThrive also connects users to on-demand support from nutritionists and experts on the GIThrive app.

Read the full story here.

Hitched Inc.

Houston-based Hitched has dug up new investment money from a local private equity firm. Pexels

Hitched Inc. raised $5.5 million in its series A funding led by Houston-based Cottonwood Venture Partners, a growth equity firm that focuses on digital tech solutions in the energy industry.

The company, which was founded in 2018, coordinates the rentals — from hosting and chartering to managing them — all on one centralized platform. Hitched has a catalogue of equipment from generators and cranes to light towers, pumps to forklifts, and the site lists out the cost per day of each piece of machinery.

Read the full story here.

Houston-based Hitched has dug up new investment money from a local private equity firm. Pexels

Houston-based digital marketplace for industrial equipment raises $5.5 million series A

money moves

A Houston startup that acts as a digital marketplace for industrial equipment in the oil and gas and construction industries closed a sizeable series A financing round this month.

Hitched Inc. raised $5.5 million in its series A funding led by Houston-based Cottonwood Venture Partners, a growth equity firm that focuses on digital tech solutions in the energy industry.

"It is encouraging to see the support and excitement from CVP," Hitched's Founder and CEO Adam Gilles says in a press release. "With this Series A funding, we plan to continue to shake things up in the oil & gas, construction, and industrial industries."

The company, which was founded in 2018, coordinates the rentals — from hosting and chartering to managing them — all on one centralized platform. Hitched has a catalogue of equipment from generators and cranes to light towers, pumps to forklifts, and the site lists out the cost per day of each piece of machinery.

According to the release, Hitched will use the fresh funds to advance its product development and customer experience as it continues "to reinvent the industrial rental marketplace."

"We're delighted to partner with the Hitched team. The industrial rental segment is incredibly opaque and riddled with inefficiencies," says Ryan Gurney, managing partner of CVP, in the news release. "The Hitched platform provides both a transparent marketplace and an important management tool that allows both the renter and rentee to optimize rental inventory."

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Harris County booms with 3rd biggest population in U.S.

Boomtown

Newly released U.S. Census Bureau data has revealed Harris County became the third most populous county nationwide in 2024, and it had the highest year-over-year growth rate from 2023.

The new population report, published this month, estimated year-over-year population data from 2023 to 2024 across all 3,144 U.S. counties, and 387 metro areas.

Harris County's numeric growth rate outpaced all other U.S. counties from July 1, 2023 to July 1, 2024, the report found. The Census Bureau estimated Harris County's population grew by 105,852 people year-over-year, bringing the total population to 5,009,302 residents. That's around a 2.16 percent growth rate.

Los Angeles County, California (No. 1) and Illinois' Cook County (No. 2) are the only two U.S. counties that have larger populations than Harris County. Los Angeles County now boasts a population of nearly 9.76 million, while Cook County's has increased to more than 5.18 million people.

The top 10 most populous counties in the U.S. are:

  • No. 1 – Los Angles County, California
  • No. 2 – Cook County, Illinois
  • No. 3 – Harris County, Texas
  • No. 4 – Maricopa County, Arizona
  • No. 5 – San Diego County, California
  • No. 6 – Orange County, California
  • No. 7 – Miami-Dade County, Florida
  • No. 8 – Dallas County, Texas
  • No. 9 – Kings County, New York
  • No. 10 – Riverside County, California

Montgomery County also ranked among the top 10 U.S. counties with the highest numeric growth, ranking 9th nationally after gaining 34,268 residents from 2023 to 2024. Montgomery County's population has now grown to 749,613 people.

In the report's national comparison of counties with the largest population growth by percentage, Montgomery County ranked No. 7 with a year-over-year growth rate of 4.8 percent.

Most populated U.S. metro areas

The U.S. Census Bureau additionally found Houston-Pasadena-The Woodlands nearly led the nation as the second-fastest growing metro area in 2024.

From July 2023 to July 2024, the Houston metro added 198,171 residents to bring the total population to 7,796,182.

New York-Newark-Jersey City was the only metro area to outpace Houston's growth during the one-year period. The New York-New Jersey metro added 213,403 new residents, which brought the total population to over 19.94 million last year.

Kristie Wilder, a Census Bureau Population Division demographer, said in the report that the nation's population growth in its major metros was largely impacted by international migration rather than changes in birth rates.

"While births continue to contribute to overall growth, rising net international migration is offsetting the ongoing net domestic outmigration we see in many of these areas," Wilder said.

Dallas-Fort Worth-Arlington was right behind Houston as the third-fastest growing U.S. metro in 2024. The Metroplex gained 177,922 residents last year, and now has a total population of more than 8.34 million.

The top 10 U.S. metros with the highest numeric growth from 2023 to 2024 are:

  • No. 1 – New York-Newark-Jersey City, New York-New Jersey
  • No. 2 – Houston-Pasadena-The Woodlands, Texas
  • No. 3 – Dallas-Fort Worth-Arlington, Texas
  • No. 4 – Miami-Fort Lauderdale-West Palm Beach, Florida
  • No. 5 – Washington-Arlington-Alexandria, D.C.-Virginia-Maryland-West Virginia
  • No. 6 – Phoenix-Mesa-Chandler, Arizona
  • No. 7 – Orlando-Kissimmee-Sanford, Florida
  • No. 8 – Atlanta-Sandy Springs-Roswell, Georgia
  • No. 9 – Chicago-Naperville-Elgin, Illinois-Indiana
  • No. 10 – Seattle-Tacoma-Bellevue, Washington
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This article originally appeared on our sister site, CultureMap.com.

New report reveals how much Texans are warming up to AI

eyes on ai

When new technology emerges, many of us approach it with a certain amount of skepticism. That’s certainly true with artificial intelligence, which is creeping into practically every part of our existence. Pew Research Center surveys show that more than half (52 percent) of Americans are increasingly cautious about the growing presence of AI in their everyday lives.

So, how wary are Texans of AI? A new ranking from ZapCap, whose AI generates captions for videos, gives us a clue. Texas ranks 15th among the states that are most trusting of AI, with a trust score of 85 out of 100.

Translation: Texans appear to be OK with embracing AI.

To develop the ranking, ZapCap collected search volume data for AI-related queries, including terms such as “best AI tools,” “best AI assistants,” “how to use AI” and “ChatGPT.” ZapCap then calculated a trust score based on each state’s search activity and population.

“This research provides an insightful look into AI engagement patterns across the U.S., highlighting the states where AI is most actively explored and potentially trusted,” says ZapCap.

With an off-the-charts score of 116, California tops the list. California “demonstrates extraordinary AI engagement with over 44 million ChatGPT searches and 77,910 Claude.AI queries, marking the highest AI tool adoption rates across all metrics,” says ZapCap.

Here’s the rest of the top five, including their AI trust scores:

  • New York — 108
  • Massachusetts — 106
  • Virginia — 102
  • New Jersey — 99

The state with the least amount of AI trust is Minnesota, which received a ZapCap score of 22.

“What’s fascinating is that innovation is blooming far beyond the usual tech hotspots,” ZapCap’s Jessica Bui said in a release. “While California and New York continue to lead, states like Massachusetts and Virginia are rising as innovation powerhouses. Their rapid adoption of new technology proves that it's not about market size — it’s about fostering a culture where businesses and everyday people feel confident exploring what's next.”

See the full findings here.

5 Houston female founders land on coveted Inc. 500 list

girl power

Five Houston female founders have been recognized by Inc. Magazine for their innovations and for leading their industries forward.

The women were named to Inc.'s Female Founders 500 list, which features female entrepreneurs based in the U.S. The group attracted approximately $9 billion in 2024 revenue and $10.6 billion in funding, according to Inc.

“Female founders know what struggle is, but they’re also experts of improvisation, adaptability, and creativity. The women featured on this year’s list exemplify these qualities," Diana Ransom, Inc. executive editor said in a release. "Through times of uncertainty, their unwavering dedication and steadfast leadership are not only inspiring but vital to driving progress.”

The Houston founders are:

  • Emily Cisek, founder of The Postage, now known as Paige, a comprehensive life planning and succession software platform for families and small businesses. The company won the Female-Owned Business category in the 2023 Houston Innovation Awards.
  • Sassie Duggleby, CEO and co-founder of Houston space tech and engine company Venus Aerospace. The company won the in the Deep Tech Business category in the 2024 Houston Innovation Awards. Duggleby also serves on the Texas Space Commission board of directors.
  • Stephanie Murphy, CEO and executive chairman of Aegis Aerospace, which provides space services, spaceflight product development, and engineering services. Murphy also serves on the Texas Aerospace Research and Space Economy Consortium Executive Committee.
  • Margo Jordan, founder of adolescent mental health startup Enrichly, which uses AI-driven self-esteem development and behavioral insights to boost student performance.
  • Nina Magon, founder of Nina Magon Studio / Nina Magon Consumer Products, a residential and commercial interior design company

"With every family and community we're able to impact through accessible estate planning, we're driven to do even more. Being recognized on Inc.’s Female Founders list is an incredible honor and a testament to the impact we’re making in fintech and beyond," Cisek said in a news release.

Duggleby echoed that sentiment on LinkedIn.

"While I don't know many of the ladies on this list, I do know they're some of the most tenacious role models in entrepreneurship. I'm beyond honored to be included among them," Duggleby added in a post.

Twenty-eight Texas female founders made this list, including Kendra Scott and Allison Ellsworth, co-founder of Poppi, and many others. See the full list of winners here.

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