Houston offshore robotics company secures $12M, names new CEO

big moves

Houston-based Nauticus Robotics has a new CEO and fresh funding. Photo via Nauticus

In the wake of a leadership reshuffling and amid lingering financial troubles, publicly traded Nauticus Robotics, a Webster-based developer of subsea robots and software, has netted more than $12 million in a second tranche of funding.

The more than $12 million in new funding includes a $9.5 million loan package.

Nauticus says the funding will accelerate certification of the company’s flagship Aquanaut robot, which is being prepared for its inaugural mission — inspecting a deep-water production facility in the Gulf of Mexico that’s owned by a major oil and gas company.

The new funding comes several weeks after the company announced a change in leadership, including a new interim CEO, interim chief financial officer, and lead general counsel.

Former Halliburton Energy Services executive John Gibson, the interim CEO, became president of Nauticus last October and subsequently joined the board. Gibson replaced Nauticus founder Nicolaus Radford in the CEO role. Radford’s LinkedIn profile indicates he left Nauticus in January 2024, the same month that Gibson stepped into the interim post.

Radford founded what was known as Houston Mechatronics in 2014.

Victoria Hay, the new interim CFO at Nauticus, and Nicholas Bigney, the new lead general counsel, came aboard in the fourth quarter of 2023.

“We currently have the intellectual property, prototypes, and the talent to deliver robust products and services,” Gibson says in a news release. “Team Nauticus is now laser-focused on converting our intellectual property, including both patents and trade secrets, into differentiated solutions that bring significant value to both commercial and government customers.”

A couple of weeks after the leadership shift, the NASDAQ stock market notified Nauticus that the average closing price of the company’s common stock had fallen below the $1-per-share threshold for 30 consecutive trading days. That threshold must be met to maintain a NASDAQ listing.

Nauticus was given 180 days to lift its average stock price above $1. If that threshold isn’t reached during that 180-day period, the company risks being delisted by NASDAQ. The stock closed February 6 at 32 cents per share.

The stock woes and leadership overhaul came on the heels of a dismal third-quarter 2023 financial report from Nauticus. The company’s fourth-quarter 2023 financial report hasn’t been filed yet.

For the first nine months of 2023, Nauticus reported an operating loss of nearly $20.9 million, up from almost $11.3 million during the same period a year earlier. Meanwhile, revenue sank from $8.2 million during the first nine months of 2022 to $5.5 million in the same period a year later.

Nauticus went public in September 2022 through a SPAC (special purpose acquisition company) merger with New York City-based CleanTech Acquisition Corp., a “blank check” company that went public in July 2021 through a $150 million IPO. The SPAC deal was valued at $560 million when it was announced in December 2021.

Nauticus recently hired investment bank Piper Sandler & Co. to help evaluate “strategic options to maximize shareholder value.”

One of the strategic alternatives involves closing Nauticus’ previously announced merger with Houston-based 3D at Depth, which specializes in subsea laser technology. When it was unveiled last October, the all-stock deal was valued at $34 million.

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This article originally ran on EnergyCapital.

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The acquisition is valued at $34 million. Photo via Nauticus Robotics

Houston robotics company makes strategic acquisition in $34M deal

M&A Moves

A Houston company that harnesses the power of robotics hardware and programing for underwater use has made an acquisition.

Nauticus Robotics Inc. (NASDAQ: KITT) announced it has acquired 3D at Depth Inc., a Colorado-based company with a subsea light detection and range, LiDAR, technology for inspection and data services. The deal closed for approximately $34 million in stock, before certain purchase price adjustments and the assumption of debt, per the news release.

“The future of subsea services lies in autonomy, data gathering, and analytics,” Nicolaus Radford, Nauticus’ founder and CEO, says in the release. “LiDAR has long since been core to terrestrial autonomy and by adding 3D’s capabilities to the Nauticus Fleet, we enhance autonomous vehicles in the offshore market. This acquisition increases the value of Nauticus’ fleet services and positions the Company to capitalize on data acquisition and analytics for subsea operations.”

The acquisition expands Nauticus' capabilities for its autonomous underwater suite of technology for its customers. With the deal, Nauticus will assume 20 patents secured or pending by acquiring 3D, which generated $9.8 million in revenue last year and is slated to grow revenue by more than 20 percent in 2023, according to the release.

“In addition to the compelling strategic and financial benefits of this deal, the acquisition will add momentum to our commercial growth trajectory,” Radford continues. “By adding 3D’s technology, offshore inspection and data service, and experienced team, Nauticus expands our addressable market and accelerates our customer penetration in the offshore energy and renewables industries.”

Founded in 2009, 3D will operate as a division of Nauticus when the deal closes sometime before the end of the year. Nauticus will also assume approximately $4.1 million of debt in the transaction.

“The Nauticus Robotics and 3D at Depth combination creates a compelling solution for the subsea market and should help improve our products and services for all our clients,” Carl Embry, founder and CEO of 3D at Depth, says in the release. “We believe the integration of our unique subsea multi-dimensional data collection and processing with an emerging leader in subsea robotics creates a differentiated offering for customers seeking safer, cleaner, lower-cost subsea services.”

Nauticus, founded by Radford in 2014 as Houston Mechatronics, went public via a blank check company last year.

Nauticus Robotics has extended a contract with one of its biggest customers. Photo via nauticusrobotics.com

Houston robotics startup secures $2.1M contract extension with engineering tech co.

customer success

A Houston startup has just secured an extended contract with a major customer.

Webster-based Nauticus Robotics, a maker of autonomous oceangoing robots, has bulked up its current contract with Reston, Virginia-based Leidos in a $2.1 million extension.. That brings Leidos’ total financial commitment from $14.5 million to $16.6 million.

In partnership with Leidos, Nauticus is developing next-generation underwater drones for business and military customers. These unmanned underwater vehicles are being designed to carry out tasks that are dangerous or impossible for human divers to do, such as mapping the ocean floor, studying sea creatures, and monitoring water pollution.

“This very important work combines great attributes from each company to deploy a truly novel subsea capability,” says Nicolaus Radford, founder and CEO of Nauticus.

Based on Nauticus’ Aquanaut product, these robots will feature the company’s toolKITT software, which supplies artificial intelligence capabilities to undersea vehicles.

“This work is the centerpiece of Nauticus’ excellent collaboration with Leidos,” says Radford, “and I look forward to continuing our mutual progress of advancing the state of the art in undersea vehicles.”

Founded in 2014 as Houston Mechatronics, Nauticus adopted its current branding in 2021. Last year, Nauticus became a publicly traded company through a merger with a “blank check” company called CleanTech Acquisition Corp.

During the first six months of 2023, Nauticus generated revenue of nearly $4 million, down from a little over $5.2 million in the same period last year. Its operating loss for the first half of 2023 was almost $12.7 million, up from slightly more than $5.2 million during the same time in 2022.

Nauticus attributes some of the revenue drop to delays in authorization of contracts with government agencies.

The company recently lined up a $15 million debt facility to bolster its operations.

“I’ve never been more optimistic about the future of Nauticus. We employ some of the best minds in the industry, and we are positioned with the right product at the right time to disrupt a $30 billion market,” Radford said earlier this month. “Demand from potential customers is high, but constructing our fleet is capital-intensive.”

More good news for Nauticus: It recently signed contracts with energy giants Shell and Petrobras. Financial terms weren’t disclosed.

The Shell contract involves a project in the Gulf of Mexico’s Princess oil and gas field that Nauticus says could lead to millions of dollars in additional contracts over the next few years. Shell operates the offshore field, which is around 40 miles southeast of New Orleans, and owns a nearly 50 percent stake in it.

Co-owners of the Princess project are Houston-based ConocoPhillips, Spring-based ExxonMobil, and London-based BP, whose North American headquarters is in Houston. In July, the Reuters news service reported that ConocoPhillips was eyeing a sale of its stake in the Princess field.

Under the contract with Petrobras, whose U.S. arm is based in Houston, Nauticus will dispatch its Aquanaut robot to support the Brazilian energy company’s offshore activities in South America. Nauticus says this deal “opens up a potential market opportunity” in Brazil exceeding $100 million a year.

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This article originally ran on EnergyCapital.

In the latest round up of Houston innovation news you may have missed, an offshore robotics company has rebranded, two startups earned bragging rights, and more. Photo via Getty Images

Houston robotics company rebrands, startups snag​  international spotlights, and more local innovation news

short stories

Houston startups have had a busy fourth quarter so far with exciting news from all around the local innovation ecosystem.

In this roundup of short stories within Houston innovation, a pair of Houston startups receive national and international praise, a local robotics company rebrands, Houston Community College receives funding for BIPOC female founders, and more.

Houston-area robotics company rebrands

Nicolaus Radford is the founder of Nauticus Robotics Inc., neé Houston Mechatronics. Photo courtesy

Houston Mechatronics Inc. based in Webster, Texas, announced that it has rebranded its offshore robotics firm as Nauticus Robotics Inc.

"The name Nauticus Robotics makes clear our commitment to the blue economy," says Nicolaus Radford, the company's founder and CEO, in a news release. "Our mission is to grow that economy through sustainable robotics that deliver value while protecting our planet's most valuable resources. This rebrand aligns us with that goal and positions us as a leader in our space."

The company has also launched a new website, representing an expanded vision of "Green robotics for a blue economy," according to the news release.

"Our new website will really lead the charge for us on the sales side," says Todd Newell, senior vice president of business development at Nauticus Robotics, in the release. "Prospective customers can get an overview of our robotics and their capabilities. If they desire, they can download detailed specifications to see how a product might fit into their operations. And we've made it very easy for those interested in a demo or a call to quickly get in touch with our team."

Houston IT company forms new partnership

Joe Alapat is the CEO of Houston-based Liongard. Courtesy of Liongard

Liongard has formed a new partnership with email defense solution Vade to release a new tool for its users. The feature automatically surfaces critical account data, streamlining user management, and billing for M365 users, according to a news release.

"I'm very pleased that Vade for M365 is now integrated with Liongard's leading IT automation platform," says Adrien Gendre, chief technology and product officer at Vade, in the release. "MSPs who offer managed cybersecurity can now combine the threat detection and remediation capabilities of Vade for M365 with the automation and unified visibility of Liongard. Together, Liongard and Vade for M365 give MSPs the tools they need to save time, improve efficiencies, and grow their businesses."

The tool is already included in Liongard’s latest release and users can leverage licensing, billing, and security data to simplify security management, accounting, and reporting.

“We’re very excited about our new Vade Inspector and the value it brings to the MSP community,” says Matt Miller, vice president of product for Liongard. “Both Vade and Liongard are committed to helping the managed services community stay security-focused. This Inspector enables MSPs to maintain a strong security posture through automation, with the added benefit of saving time and effort across the organization.”

Houston startup snags national spotlight

Cobalt's founders wanted to avoid harsh alcoholic smells and opted for calming and fun scents. Photo courtesy of Cobalt

Southern Living magazine's December issue features the annual holiday gift guide, and making the list this year is Houston-based small business Cobalt's Crisp Peppermint Hand Sanitizer.

“We are beyond thrilled to be included in Southern Living magazine with the best company,” says Christina Milligan, co-founder of Cobalt, in a news release. “It’s so exciting to see how much Cobalt has grown in the past 12 months. The idea has surpassed the pandemic and become an everyday necessity for healthy lifestyles. What started out as blending and filling each bottle from our kitchen tables has evolved into corporate partnerships, multiple scents, and new product lines. We are so grateful for all of our customers across the country and look forward to the next phase of Cobalt.”

Milligan and Molly Voorhees launched Cobalt in November 2020 with a line of personal-sized surface cleaners, hand sanitizers, and travel kits.

Cobalt is the only Houston-based company in the 2021 guide, according to the release. The issue is on newsstands now.

Houston blockchain company wins startup of the year

Data Gumbo's team was recognized internationally for its impact. Courtesy of Data Gumbo

Data Gumbo, which has created an industrial smart contract network company, announced last month that it has been named the Oil and Gas Start Up Company of the Year at the Abu Dhabi International Petroleum Exhibition and Conference Awards Gala — the largest annual oil and gas awards event in the Middle East.

According to a news release from the company, "Data Gumbo was recognized for its potential to reshape the energy industry based on its continued innovation, strong business model and the impressive impact of its global industrial smart contract network."

“Our industrial smart contract network, GumboNet, offers the new gold standard for organizations to execute business better through guaranteed transactional certainty across commercial relationships,” says Andrew Bruce, CEO and founder of Data Gumbo. “It’s an honor to be recognized by ADIPEC for our work and commitment to expanding our network across the global energy industry, allowing companies to eliminate the lack of trust in industrial sectors, streamline contract execution and capture significant cost savings.”

The 11th annual ADIPEC Awards' judges reviewed more than 700 entries from over 50 countries across digitalization, sustainability, research, innovation and more. For more info on the ADIPEC Awards, click here.

Houston university system receives $750,000 grant to drive women-owned business success

HCC has fresh funds to support female entrepreneurs. Photo via Getty Images

Wells Fargo granted $750,000 to Houston Community College to support the new Open for Business program aimed at empowering women-owned businesses in the Houston region. The grant is part of a $420 million small business recovery effort by Wells Fargo to support nonprofit and educational organizations assisting women of color in overcoming longstanding obstacles to entrepreneurship.

“We are delighted to broaden our programs to help women succeed in owning and operating businesses,” says Maya Durnovo, HCC’s chief entrepreneurial officer, in a news release, adding that the program has a particular focus on African American, Indo-American, Hispanic, Asian and Native American women.

The Open for Business Program – led by Director Tamala Austin – is already staffed with more than 165 women registered in the program.

“We can only imagine what kinds of businesses might have taken off, what products consumers might have enjoyed and what returns might have been realized had women and people of color enjoyed equal access to capital and opportunity,” Durnovo says in the release.

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5 must-know fall application deadlines for Houston innovators

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Editor's note: As fall reaches full swing, Houston's innovation scene is calling on the latest batch of founders and startups looking to make a difference. A number of accelerators have opened applications. Read below to see which might be a good fit for you or your venture. And take careful note of the deadlines. Please note: this article may be updated to include additional information and programs.

Did we miss an accelerator or competition accepting applications? Email innoeditor@innovationmap.com for editorial consideration.

Texas Life Science Forum

Deadline: Oct. 2

Details: Ventures can apply to present at the 15th annual Texas Life Science Forum, hosted by BioHouston and Rice Alliance. Participants will meet during office hours with venture capitalists, tech scouts, corporate venture groups and angel investors, and present their pitches in a public forum. Pitches take place on Nov. 10 and office hours are held Nov. 11. Find more information here.

Greentown Lab's Go Make 2027: Advanced Carbon Materials with ExxonMobil

Deadline: Oct. 9

Details: Greentown Labs is seeking applications from startups developing novel carbon-based technologies for its latest Go Make cohort in conjunction with ExxonMobil. The structured accelerator is designed to facilitate validation activities and explore potential long-term collaborations with Exxon, according to Greentown. Founders will have the opportunity to engage directly with industry leaders to test, validate and scale their carbon technologies in real commercial contexts. The program tentatively starts on Jan. 20, 2027 and concludes June 16, 2027. Find more information here.

Activate's U.S. Fellowship Cohort 2027

Deadline: Oct. 30

Details: Activate supports scientists at "the outset of their entrepreneurial journey." It partners with U.S.-based funders and research institutions to support its fellows in developing high-impact technology. Its fellows receive a living stipend, research and development funding, connections from Activate's robust network of mentors and access to a curriculum specific to the program for two years. Applicants must have a bachelor’s degree and 4-plus years of post-baccalaureate scientific research, engineering or technology development experience. Their work must be based in the physical or biological sciences or related engineering disciplines. Find more information here.

Rice Innovation Fellows

Deadline: Oct. 30

Details: The Liu Idea Lab for Innovation and Entrepreneurship (Lilie)'s Rice Innovation Fellows program supports Rice Ph.D. students and postdocs in turning their research into real-world ventures. Participants receive $10,000 in translational research funding, co-working space and personalized mentorship. Candidates from all Rice engineering and science-related disciplines are encouraged to apply. Find more information here.

The TMC's Accelerator for Cancer Therapeutics

Deadline: Oct. 30

Details: Texas-based ventures and researchers developing a cancer therapeutics project can apply to this accelerator funded by the Cancer Prevention and Research Institute of Texas. The nine-month program runs February-September 2027 and focuses on market research, FDA regulations, intellectual property, licensing, finance, fundraising, legal and other critical areas for cancer-related ventures. Participants will complete the program with at least one grant submission and have the option to pitch to investors, corporate partners, media and other influential guests. Find more information here.

Houston college joins inaugural workforce accelerator supported by Google

hands-on training

Houston City College (HCC) is one of 15 community colleges from around the country to be selected for the first-ever Workforce Futures Accelerator.

The three-year effort is supported by Google.org, the tech company’s philanthropic arm, and led by the Association of Community College Trustees (ACCT), a non-profit educational organization that represents over 500 community, junior, and technical colleges. The accelerator focuses on helping colleges embed virtual, employer-sponsored training opportunities into short-term workforce training programs, giving participants access to opportunities that they might otherwise receive through internships or other "work-based learning" stints.

"The Workforce Futures Accelerator reflects the Houston City College mission of offering a high-quality, affordable education for workforce training and career development," Pretta VanDible Stallworth, HCC trustee and chair-elect of the ACCT board of directors, said in a news release. "Advancing student success and creating pathways to opportunities ensures that our students are well equipped to succeed and build a secure future in today's economy.”

Through the accelerator, HCC is tasked with fusing online project-based learning opportunities with its workforce education programs. The idea is to give students hands-on experiences working on projects sponsored by employers, allowing them to gain real-world knowledge in the process.

HCC will select two workforce programs that meet the accelerator’s criteria and insert into them into coursework. In the second and third year of the accelerator, the selected colleges are expected to scale the programs by adding instructors and programs to develop a network of to support their continued implementation.

“Participation by HCC will strengthen how we provide students with career-connected learning experiences that complement their classroom education and align with the needs of employers,” HCC Chancellor Margaret Ford Fisher added in the news release. “We are focused on ‘future forward’ strategies to meet the present and future needs of our region’s businesses.”

Two other Texas colleges were chosen to participate in the accelerator: Lamar Institute of Technology in Beaumont and Grayson College in Denison.

The remaining cohort includes:

  • Bergen Community College in Paramus, New Jersey
  • Central Louisiana Community College in Alexandria, Louisiana
  • Clark State College in Springfield, Ohio
  • Great Basin College in Elko, Nevada
  • Heartland Community College in Normal, Illinois
  • Hudson County Community College in Jersey City, New Jersey
  • Manchester Community College in Manchester, New Hampshire
  • Mesa Community College in Mesa, Arizona
  • Mohave College in Kingman, Arizona
  • San Joaquin Delta Community College in Stockton, California
  • San Juan College in Farmington, New Mexico
  • West Virginia University Parkersburg in Parkersburg, West Virginia

New report ranks Texas among top 10 states where AI could disrupt jobs

AI Workforce

A new nationwide report examining where AI could "reshape" the most jobs has ranked Texas No. 9 among the most at-risk states for AI job disruption.

The new SmartAsset report compared all 50 states and the District of Columbia to calculate the estimated percent of the workforce employed in the 26 occupations with the highest AI exposure, as determined by June 2026 research by the Virginia Economic Information and Analytics Division.

The findings revealed that 500,000 Texas workers, or 3.55 percent of the total workforce, are employed in occupations with "high exposure to potential AI disruption."

This also places the Lone Star State as the 9th most at-risk state in the U.S. where AI exposure can lead to "declining hiring demand, wage pressure, task automation, and other forms of disruption."

"States with larger concentrations of highly exposed occupations could experience more pronounced labor-market changes, particularly in roles where core tasks are more vulnerable to AI-driven restructuring," the report's author wrote.

Texas' biggest cities, like Houston and Austin, are known for their thriving tech and business industries, and the study noted that many of the occupations within those sectors are the most at risk. The Virginia Economic Information and Analytics Division said the top five most AI-exposed occupations in the U.S. are: mathematicians, proofreaders, correspondence clerks, court reporters, and media and communication workers. Additionally, computer programmers, database administrators, web developers, telephone operators, and communications equipment operators round out the top 10 most at-risk positions.

These are the 16 remaining occupations most exposed to AI disruption, in order:

  • Data Entry Keyers
  • Statistical Assistants
  • Office Support Workers
  • Interpreters and Translators
  • Database Architects
  • Software Quality Assurance Analysts
  • Medical Transcriptionists
  • Software Developers
  • Writers and Authors
  • Payroll Clerks
  • Web Designers
  • Miscellaneous Computer Occupations
  • Insurance Claims Processors
  • Telemarketers
  • Computer Numerically Controlled Tool Programmers
  • Bookkeeping and Accounting Clerks

A separate SmartAsset report from April 2026 found about 20.5 percent of Texas workers use AI to do their jobs in some capacity. That trend will continue to shift further as employers and employees choose to adopt — or reject — AI implementation.

Across the U.S., Washington topped the list as the state with the highest concentration of AI-exposed jobs, with nearly 5.7 percent of the state's workforce employed in the 26 most at-risk positions. SmartAsset said Washington's high prevalence of technology companies is a significant factor that skyrocketed the state to the top of the list.

"Home to major technology companies including Microsoft, Amazon, T-Mobile and Expedia, the state has large numbers of computer programmers and software developers, two occupations with high exposure," the report said.

Meanwhile, Mississippi ranked No. 51 with the lowest concentration of AI-exposed jobs in the nation. About 22,500 workers in Mississippi, or 1.93 percent of its workforce, are at risk for AI disruption.

The top 10 states where AI could reshape the most jobs are:

  • No. 1 – Washington
  • No. 2 – Virginia
  • No. 3 – District of Columbia
  • No. 4 – California
  • No. 5 – Utah
  • No. 6 – Maryland
  • No. 7 – Colorado
  • No. 8 – New Hampshire
  • No. 9 – Texas
  • No. 10 – North Carolina
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This article originally appeared on CultureMap.com.

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