2024's 5 most-read startup feature stories

year in review

Sustainability, therapeutics, hard tech, and more — all this innovation and more is coming out of Houston startups. Courtesy photos

Editor's note: As the year comes to a close, InnovationMap is looking back at the year's top stories in Houston innovation. This past year, InnovationMap featured profiles on dozens of these Houston startups — from health tech to startups fostering community. Here are five Houston startup features that stood out to readers this year — be sure to click through to read the full story.

Houston immuno-oncology company reaches next FDA milestone, heads to phase 2 trial

A Houston company with a promising immuno-oncology is one step closer to delivering its cancer-fighting drug to patients who need it. Photo via Getty Images

A Houston immuno-oncology company has recently made major headway with the FDA, including both a fast track and an orphan drug designation. It will soon start a phase 2 trial of its promising cancer fighting innovation.

Diakonos Oncology was born in 2016, the brainchild of Baylor researchers already hard at work in the realm of dendritic cell vaccines. Drs. Will Decker, Matt Halpert, and Vanaja Konduri partnered with Dan Faust, a Houston businessman and pharmacist, to bring their treatment to the public, says COO Jay Hartenbach.

The name Diakonos means “deacon or servant in Greek,” he explains. “A lot of companies end up focusing on treating a specific disease or cancer and what you end up having is a significant amount of potential but with a lot of tradeoffs and downsides. And so our goal is we need to eliminate the cancer but we can't harm or dramatically malign the patient in doing so.” Continue reading.

Houston founder taps into AI tech to create game-changing healthy eating platform

A Better Meal — a new app from a Houston founder — gives you all the tools you need to make healthier food choices. Photo via abettermeal.com

After many years of living to eat, a large swath of American society is now facilitating a seismic shift to the healthier alternative, eating to live.

But here’s the rub: eating healthy is confusing, time consuming and, unfortunately, oftentimes pricey.

So, anyone that can come in and cut through the healthy eating machine can carve out a necessary niche in the marketplace.

Enter Houstonian Mark Semmelbeck, founder and CEO of A Better Meal, a platform created to help busy families plan healthy meals easier and to make gradual improvements to their health and well-being.

“My vision is to use rapidly expanding AI technology together with the knowledge and wisdom of an active community to take the stress out of meal planning and improving nutrition,” says Semmelbeck, a seasoned oil and gas executive with over 30 years of experience in founding companies. “While developing the technology for the app, my daughter gave me two beautiful grandkids who both have significant food allergies. Combine that with the fact I now have five cardiac stents and the significance of eating well while paying attention to the details has only grown in importance.” Continue reading.

Hardtech startup moves into Houston area with new Conroe facility, eyes tests in space

FluxWorks, a hardtech startup, opened its new home-base in Conroe, Texas. Photo courtesy FluxWorks

FluxWorks, a hardtech startup, recently opened its new base of operations in Workhub Developments’ Conroe location.

Founded in College Station by CEO Bryton Praslicka, FluxWorks specializes in making contactless magnetic gears for use in extreme conditions. At 9,000 square feet, the new Conroe facility is a result of discussions with Governor Greg Abbott's office and the Greater Houston Partnership, who introduced the company’s leadership to the Conroe Economic Development Council, encouraging their move, Praslicka tells InnovationMap.

“The pieces of the puzzle were all there, and with the support of the local, state, and federal government, we were thrilled to move to Conroe,” Paslicka says. Continue reading.

Houston startup secures IBM partnership for AI-backed consumer tech

IBM and Boxes recently partnered to integrate the IBM watsonx Assistant into Boxes devices, providing a way for consumer packaged brands to find out more than ever about what its customers like and want. Photo courtesy of Boxes

With the help of a new conversational artificial intelligence platform, a Houston startup is ready to let brands get up close and personal with consumers while minimizing waste.

IBM and Boxes recently partnered to integrate the IBM watsonx Assistant into Boxes devices, providing a way for consumer packaged brands to find out more than ever about what its customers like and want.

The Boxes device, about the size of a 40-inch television screen, dispenses products to consumers in a modern and sustainable spin on the old-fashioned large vending machine.

CEO Fernando Machin Gojdycz learned that business from his entrepreneur father, Carlos Daniel Machin, while growing up in Uruguay.

“That’s where my passion comes from — him,” Gojdycz says of his father. In 2016, Gojdycz founded Boxes in Uruguay with some engineer friends. Continue reading.

Houston founder aims to help find your purpose, make strategic connections over a cup of coffee

Cup of Joey has expanded across Houston to help make valuable connections to Houston entrepreneurs. Photo courtesy of Cup of Joey

What is your purpose in life? One Houstonian is asking that question of his fellow entrepreneurs all across town.

Joey Sanchez founded Cup of Joey, a weekly meetup opportunity for innovators, business leaders, and the whole Houston community. The events are a place not only to share a cup of coffee but also their very own mission in life.

It all started in 2021 at the Houston Tech Rodeo, an initiative from Houston Exponential, where Sanchez worked as a director of corporate engagement. Texas had just opened social distancing in public events since the beginning of the COVID-19 pandemic, and Sanchez was finding ways to reconnect the Houston community.

‘We thought what better way than over a cup of coffee?” Since then, Sanchez has connected thousands of people based on purpose every Friday for the past three and a half years. Continue reading.

If you are among those companies looking to go public in the near future, now is the time to get your house in order. Photo via Getty Images

Experts: What Houston startup founders need to know about conducting a successful IPO

guest column

Home to a wealth of world-changing innovations and a highly skilled labor pool, Houston has attracted startups and digital tech firms for years. Today, the city stands at the forefront of a promising era with seven Houston startups beginning the year strong with more than $380 million in venture funding, and the city ranked among the top emerging startup ecosystems in North America

Houston-based startups planning their exit strategies have good reason to be optimistic about an initial public offering, or IPO, market that is expected to grow in 2024. After a two-year slump in startup investing, some market watchers are predicting that the IPO window may reopen as the economy improves and inflation and interest rates cool.

But good timing requires good readiness. The window of opportunity for preparation now appears to be a microwindow. As any company that went public at the peak of the dot-com or post-COVID booms can attest, preparation is essential to quickly take action when the time is right. Hitting that microwindow will require that IPO-bound Houston companies be strategic about their IPO readiness planning. A lack of planning can result in an IPO experience that is not well planned, and potentially a missed opportunity altogether.

It’s unclear when the next IPO window will open, or for how long the window will remain open, but it could happen quicker than expected. This unpredictability suggests that Houston startups seeking to go public should start their legal, financial, and regulatory planning now. The important period for many companies planning an IPO begins six to 18 months prior to listing and lasts until the six months post-IPO.

Readying an IPO

We gained several insights from our discussions with CEOs and CFOs who have effectively navigated IPOs recently to provide insights for companies contemplating going public when the next microwindow opens. A company’s comprehensive readiness plan can be key to performing well in the market, whether it is up or down. Summarized below are common key areas that challenged many C-Suite executives in being a public company and, in hindsight, areas they wished they had addressed earlier in the process.

  1. Internal forecasting. Internal forecasting is paramount. In fact, it’s one of the primary takeaways cited in our conversations with the C-suite execs who went through the IPO process. Houston companies on an IPO track should be prepared to provide accurate forecasting and timely fulfillment of projections. Missing projections can result in significant regulatory repercussions.
  1. Key performance indicators and non-GAAP measures. Take reasonable steps towards performing a comprehensive benchmarking study to determine relevant KPIs and non-GAAP measures and metrics to report upon; be ready with the frameworks in place to report upon during quarterly and annual reporting.
  1. Growth story. The ability to communicate the company’s growth story can be essential to an effective IPO. Company leaders should be able to clearly convey topics such as the company’s growth, vision and strategy, its plans for improving performance metrics, the market opportunity, its competitive edge, and how its product or services will meet market demand. Meetings with analysts and other market influencers are also necessary to gain investor support. The executives we talked to said that when they did not invest time in this awareness-building step, they often found themselves rushing to get the word out as the offering date closed in.
  1. Finance infrastructure and human capital. Understand the infrastructure and operating model required to operate as a public company, along with the human capital necessary to sustain operations. Identifying the necessary skillsets and bandwidth within the team supports a smoother IPO process. Collaborating with experienced, independent advisors is also vital. These advisors assist in organizing the process, outlining SEC reporting requirements, updating SEC-compliant financial reporting, preparing Management Discussion and Analysis (MD&A) and pro forma financial information, and offering guidance throughout the pre-IPO preparation.
  1. Governance. IPO-bound companies need to anticipate new corporate governance requirements as a publicly traded entity, particularly in terms of their board of directors. Proper governance and board oversight can be essential to support the quality of financial statements produced by management. Executives told us that recruiting the right board members is often a significant pre-IPO challenge. Identifying these members early is crucial, as the right resources may not be available later.

Closing thoughts

If you are among those companies looking to go public in the near future, now is the time to get your house in order. Companies are often surprised to discover how much preparation it truly takes to operate as a public company. In fact, we typically recommend starting the preparation journey 18 to 24 months before the anticipated public listing date. Simply stated, if you wait until the IPO window opens before gearing up, you likely will be gearing up for the next window.

Deloitte’s complimentary IPO

SelfAssess tool can help you gauge your ability to go public with a tailored assessment. The tool provides you with useful insights and identifies potential areas for improvement based on the feedback you provide.

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Will Braeutigam is the U.S. capital markets transactions leader at Deloitte & Touche LLP. Laura Evans is audit and assurance partner at Deloitte & Touche LLP.

Houston startups raised a combined $380 million in venture funding last quarter. Photo via Getty Images

Here's what Houston startups have raised in funding so far in 2024

Q1 2024 VC ACTIVITY

Seven Houston startups have started the new year strong with over $380 million in venture funding — most of which from one mega deal for a geothermal company.

According to InnovationMap reporting, Houston's VC activity in the first quarter of 2024 spanned industry and stage — from pre-seed to series E. It's a large chunk of money raised in Houston for one quarter — but not in terms of deals closed, at least compared to the previous quarter, in which startups raised over $170 million but across nine deals.

On the national side, it's not too different of a story. According to a quarterly report from PitchBook, the United State's VC activity for the start of the year "showed to be one of the slowest areas of the venture market during the quarter." Only $9.3 billion in capital was raised in the U.S. last quarter, which is only 11.3 percent of the total raised in the already slowed market of 2023.

"While dry powder remains high, slowed fundraising portends to LP hesitancy toward VC, and should predict a more difficult dealmaking environment down the road," reads an email from PitchBook. "During the past few years, large mega-funds drove fundraising trends, but Q1 VC fundraising shows there may be no appetite for such vehicles in today’s market."

These are the seven startup VC deals closed in Houston so far this year, according to reporting on InnovationMap.

Fervo Energy raises $244M in latest funding round

Fervo Energy scored a $244 million round of funding thanks to existing and new investors. Photo via Fervo Energy

An Oklahoma-based shale oil and gas leader has backed Fervo Energy's latest round of funding, supporting the startup's geothermal technology yet again.

Fervo announced its latest round of funding this week to the tune of $244 million. The round was led by Devon Energy, a company that's previously backed the startup.

“Demand for around-the-clock clean energy has never been higher, and next-generation geothermal is uniquely positioned to meet this demand,” Tim Latimer, Fervo CEO and co-founder, says in a news release. “Our technology is fully derisked, our pricing is already competitive, and our resource pipeline is vast. This investment enables Fervo to continue to position geothermal at the heart of 24/7 carbon-free energy production.” Read more about the round.

Procyrion secures $57.7M series E

Procyrion has announced the closing of its series E round of funding. Photo via Getty Images

Houston-born and bred medical device company, Procyrion, has completed its series E with a raise of $57.7 million, including the conversion of $10 million of interim financing.

Procyrion is the company behind Aortix, a pump designed to be placed in the descending thoracic aorta of heart failure patients, which has been shown to improve cardiac performance in seriously ill subjects. The money raised will allow the company to proceed with a the DRAIN-HF Study, a pivotal trial that will be used for eventual FDA approval and commercialization.

The Aortix is the brainchild of Houston cardiologist Reynolds Delgado. According to Procyrion’s CSO, Jace Heuring, Delgado, gained some of his experience with devices for the heart working with legendary Texas Heart Institute surgeon O.H. “Bud” Frazier. He filed his first patents related to the Aortix in 2005. Read more about the round.

Welligence Energy Analytics raises $41M series B

Houston-based Welligence Energy Analytics specializes in data and intelligence for the oil and gas markets, greenhouse gas emissions sector, and CCUS projects. Photo via Getty Images

A group of investors has chipped in $41 million to purchase a minority stake in Houston-based Welligence Energy Analytics, a provider of energy data and intelligence.

Boston-based venture capital firm Elephant Partners led the series B round, with participation from Veriten, a Houston-based, energy-focused research, investing, and strategy firm, and EDG, a Metairie, Louisiana-based energy consulting firm. Several executives from the energy, information services, and software sectors also contributed to the round.

Founded in 2016, Welligence specializes in data and intelligence for the oil and gas markets, greenhouse gas emissions sector, and carbon capture, storage, and utilization (CCUS) projects. Clients include major oil and gas companies, as well as large investment banks. Read more about the round.

Motif Neurotech secures nearly $19M series A

Motif Neurotech, which develops minimally invasive bioelectronics for mental health treatment, closed its series A round with an oversubscribed $18.75 million. Photo via Rice.edu

A health tech startup based out of a newly formed accelerator program at Rice University has raised venture funding.

Motif Neurotech closed its series A round with an oversubscribed $18.75 million. The company, which develops minimally invasive bioelectronics for mental health treatment, was formed out of the Rice Biotech Launch Pad that launched last fall.

The round was led by Arboretum Ventures, with participation from new investors KdT Ventures, Satori Neuro, Dolby Family Ventures, re.Mind Capital and existing investors Divergent Capital, TMC Venture Fund, PsyMed Ventures, Empath Ventures and Capital Factory. Read more about the round.

Sage Geosystems closes $17M series A 

Houston-based Sage Geosystems announced the first close of $17 million round led by Chesapeake Energy Corp. Photo via sagegeosystems.com

A Houston geothermal startup has announced the close of its series A round of funding.

Houston-based Sage Geosystems announced the first close of $17 million round led by Chesapeake Energy Corp. The proceeds aim to fund its first commercial geopressured geothermal system facility, which will be built in Texas in Q4 of 2024. According to the company, the facility will be the first of its kind.

The venture is joined by technology investor Arch Meredith, Helium-3 Ventures and will include support from existing investors Virya, LLC, Nabors Industries Ltd., and Ignis Energy Inc.

“The first close of our Series A funding and our commercial facility are significant milestones in our mission to make geopressured geothermal system technologies a reality,” Cindy Taff, CEO of Sage Geosystems, says in a news release. “The success of our GGS technologies is not only critical to Sage Geosystems becoming post-revenue, but it is an essential step in accelerating the development of this proprietary geothermal baseload approach. Read more about the round.

Ema raises $2M round of bridge funding

Ema, which operates as a health and wellness-focused, AI-based chat for women, has raised additional funding. Screenshot courtesy of Ema

A Houston-based startup that's improving health and wellness for women with its artificial intelligence-backed platform has raised a bridge round of funding.

Ema closed its latest bridge round, bringing its total funding to nearly $2 million. The company received investment from Kubera's Venture Capital and Victorum Capital, which joined existing investors Hearst Labs, Wormhole Capital, Acumen America, and Techstars.

Ema strives to deliver "personalized, empathetic, and evidence-based support" to its users through its generative AI technology. The platform has more than 100,000 users, and has expanded into the B2B sector with $100,000 in contracts within just 30 days after pivoting to this model, according to the company. Read more about the round.

TrueLeap Inc. raises oversubscribed $610,000 pre-seed round

The edtech company offers a comprehensive approach to shrinking the digital divide with a suite of technology including software, hardware, and more. Photo courtesy of TrueLeap

An edtech startup has just secured funding to further its mission of increasing accessibility to education.

TrueLeap Inc., global digital education startup addressing the digital divide in education, has raised $610,000, which is over its target of $500,000. The round was led by United Kingdom-based Maya Investments Limited.

"This oversubscribed funding round, led by Maya Investments Limited, is a testament to the urgent need for innovative educational technologies in emerging markets. Our commitment to providing affordable and integrated solutions is stronger than ever," says Sandip Bordoloi, CEO and Co-Founder of TrueLeap, in a news release. Read more about the round.

Support Houston startups by shopping local this holiday season. Photo via Getty Images

2023 startup gift guide: Shop local from these Houston innovators

It's giving season, and you need not look any further than Houston's startup and innovation community for some gift ideas.

This year's Houston startup gift guide includes experiences, sustainable shopping, and more.

Need some more ideas? Browse last year's roundup of Houston startup-created gift ideas, and check out the 2021, 2020 and 2019 startup gift guides as well for even more options.

For someone outdoorsy: An easy-to-book fishing trip

Mallard Bay, which won big at the Rice Business Plan Competition, expanded in Houston this year. Photo via Getty Images

After seeing success in last year's Rice Business Plan Competition, Mallard Bay, a marketplace for booking guided fishing and hunting trips, announced this year that it's moving half of its employees to Houston, InnovationMap reported. The company hopes the move will help it tap into the large corporate and convention entertainment market in Texas. You can book a trip for your family or shop gear on the startup's website.

For a wine lover: A quick cooling tool

The Cold Cork delivers 20-second beverage chilling. Photo via Facebook/Cold Cork

Perfect for someone who loves to entertain, The idea Cold Cork came from the brains of two Houstonians who love a chilled wine at the end of a long day. However, it often happens that while you're ready for wine, but the wine's not ready for you. The device, priced at $64.95, chills liquids 20 degrees in 20 seconds.

For the new mom in your life: A game-changing breastmilk service

Milkify secured a deal on Shark Tank. Photo courtesy of Milkify

As seen on Shark Tank, Houston-based Milkify provides a unique service to breastfeeding moms. The company freeze dries breast milk so that families can have the convenience of formula with the nutrition of breast milk. The startup, which won at this year's Houston Innovation Awards, secured an investment on the show and even got the nod of approval from Gwyneth Paltrow. Milkify has plans to scale, as the husband-and-wife team shared on the Houston Innovators Podcast.

For someone who loves a sweat sesh: Smell-free athletic wear

Houston-based Accel Lifestyle's innovative line of athleisure has made it into Talbots. Photo courtesy of Accel Lifestyle

For years, Houston athletic clothing brand Accel Lifestyle has been providing its customers with sporty outfits that are designed to not hold onto any stink resulting from bacteria from sweat. As of this summer, the brand is in Talbots, so you can shop in store, as well as online.

For the trendsetter: Sustainable fashion

A Houston innovator found second-hand shopping time consuming. So, she designed a better experience. Image courtesy of Trendy Seconds

Shop for one (or all) of your loved ones sustainably with Trendy Seconds, a website created by Houstonian Maria Burgos. There's likely something for everyone on your Christmas list — and no purchase can possibly considered naughty — at least when considering your carbon footprint.

For a party animal: Brews for every occasion

Bring these to your next holiday party. Photo by Emily Jaschke/InnovationMap

Two Houston companies formalized their partnership this year. Bayou City Hemp Company announced that it has purchased 8th Wonder Brewery, Distillery, and Cannabis. The acquisition deepens a relationship that dates back to 2021, when 8th Wonder and Bayou City Hemp partnered to create Wonder Water, a non-alcoholic beverage available with either CBD or Delta-8 that became the top-selling to-go product at 8th Wonder. Now, the combined company creates adult beverages by offering a full lineup of beer, spirits, and cannabis-infused drinks.

For a mother-daughter duo: A tool to enhance their relationship

Houston startup addresses mother-daughter dynamic with first app of its kindA Houston-founded company is targeting mothers and daughters with their teletherapy app. Photo courtesy of Passport Journeys

Passport Journeys, an app with a membership that helps cultivate mother-daughter relationships, can help you on your new year's resolution to heal your relationship with your mom or daughter. The intake process is $280 with monthly fees after and includes a slew of support for relationship building.

DivInc launches its latest accelerator — and other trending news from the week. Photo via the Ion

5 most popular innovation stories in Houston this week

what's trending

Editor's note:Another week has come and gone, and it's time to round up the top headlines from the past few days. Trending Houston tech and startup news on InnovationMap included updates from Houston startups, a new program at the Ion, and more.

3 Houston organizations announce strategic appointments

Here are three of the latest updates on new hires and promotions from these Houston organizations. Photos courtesy

It's been a busy year so far for Houston organizations — three of which have made new appointments to their leadership.

In this round up of movers and shakers in Houston innovation, a venture capital firm names its newest principal, an astronaut gets a leadership role here at ground control, and a VR studio snags a leader to steer its growth. Read more.

Chevron, Microsoft back Houston-based clean energy program for BIPOC and female founders

DivInc is bringing another new accelerator program to Houston — this one is focused on clean energy. Photo via DivInc.com

A Texas-based accelerator is bringing its third diversity-focused program to Houston.

DivInc, a startup accelerator originating in Austin and established for people of color and women entrepreneurs, has announced that the title sponsors for the inaugural Clean Energy Accelerator are Chevron and Microsoft. The new program will join DivInc's existing accelerators — Women in Tech and Sports Tech — at the Ion.

"With Houston known as the energy capital of the world, DivInc has the opportunity to provide a pipeline of women, black, and latino-led high-growth, high-impact startups focused on clean energy," says Ashley DeWalt, DivInc Houston's managing director, in a news release. "We see this initiative ultimately driving a more diverse, equitable, and inclusive ecosystem within this clean energy transition sector for generations to come." Read more.

Houston space tech startup closes deal to IPO

Intuitive Machines will be listed on Nasdaq beginning tomorrow, February 14. Photo via intuitivemachines.com

It's official. This Houston company is live in the public market.

Intuitive Machines, a space tech company based in Southeast Houston, announced that it has completed the transaction to merge with Inflection Point Acquisition Corp., a special purpose acquisition company traded on Nasdaq.

“We are excited to begin this new chapter as a publicly traded company,” says Steve Altemus, co-founder, president, and CEO of Intuitive Machines, in a news release. “Intuitive Machines is in a leading position to replace footprints with a foothold in the development of lunar space. With our launch into the public sphere through Inflection Point, we have reached new heights financially and opened the doors for even greater exploration and innovation for the progress of humanity.” Read more.

The future of Texas’ digital economy is strong, according to a new study

Texas ranks in the top 10 states with promising digital economies. Photo via Getty Images

A new report from California-based software firm Tipalti ranks Texas in the top 10 for states with the best digital economy outlooks.

Based on findings from Indeed.com, the U.S. Census Bureau, The Computing Technology Industry Association, and BroadbanNow, the study looks at which states and countries are best prepared for future and continued shifts towards a more digitized world.

Texas was ranked ninth overall, with a score of 8.4 out of 10 for Tipalti’s digital economy score. The report based this score on a few criteria. Here’s what it found. Read more.

Houston space co. adds new adviser, startup named SXSW alternate, and more innovation news

Here's your latest roundup of innovation news you may have missed. Photo via Getty Images

Houston startup news is in full swing this year, and there might be some headlines you may have missed.

In this roundup of short stories within Houston startups and tech, Venus Aerospace makes an impressive appointment, a sportstech startup is headed to SXSW, and more. Read more.

This week's roundup of Houston innovators includes Ben Jawdat of Revterra, Pete O'Heeron of FibroBiologics, and Jay Manouchehri of Fluence Analytics. Photos courtesy

3 Houston innovators to know this week

who's who

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from health tech to clean energy — recently making headlines in Houston innovation.

Ben Jawdat, CEO and founder of Revterra

Ben Jawdat, CEO and founder of Revterra, joins the Houston Innovators Podcast. Photo via LinkedIn

Ben Jawdat founded Revterra in Houston based on a unique kinetic energy storage technology. The company has created away to better optimize existing grid-based electric vehicle charging ports while still minimizing a carbon footprint. The startup hopes to be a major player within the energy transition.

"We really want to be an enabling technology in the renewable energy transition," Jawdat says. "One part of that is facilitating the development of large-scale, high-power, fast-charging networks. But, beyond that, we see this technology as a potential solution in other areas related to the clean energy transition."

He shares more about what's next for Revterra on the podcast. Read more and listen to the episode.

Pete O'Heeron, CEO and chairman of FibroBiologics

Pete O'Heeron leads FibroBiologics as CEO and chairman. Photo via Fibrobiologics.com

FibroBiologics, which is developing fibroblast cell-based therapeutics for chronic diseases, launched a campaign with equity crowdfunding platform StartEngine. The platform lets anyone — regardless of their net worth or income level — to invest in securities issued by startups.

The funding, according to a press release, will be used to support ongoing operations of Fibrobiologics and advance its clinical programs in multiple sclerosis, degenerative disc disease, wound care, extension of life, and cancer.

"We're excited to partner with StartEngine on this campaign. StartEngine has over 600,000 investors as part of their community and has raised over half a billion dollars for its clients," says FibroBiologics' Founder and CEO Pete O'Heeron, in the release. Read more.

Jay Manouchehri, CEO of Fluence Analytics

Fluence Analytics has exited to a multinational Japanese engineering and software giant. Image via FluenceAnalytics.com

Yokogawa, which has its US operations based in Sugar Land, acquired Fluence Analytics Inc. in a deal announced last week. The terms of the deal were not disclosed and, effective immediately, the company operate as Yokogawa Fluence Analytics. Jay Manouchehri, who joined the company in 2022, will continue to serve as CEO of the entity.

“Combining forces with Yokogawa Electric enables us to capture the full value of our unique data sets, and we can't wait to deliver this added value to our customers," Manouchehri says in a news release. "Together, we will enable autonomous operations and digital transformation in the polymer and biopharma industries."

Founded in 2012 in New Orleans, Fluence Analytics moved to Houston in 2021 following a $7.5 million venture capital raise led by Yokogawa Electric Corp., which has its North American headquarters in Sugar Land. Read more.

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Autonomous truck company rolls out driverless Houston-Dallas route

up and running

Houston is helping drive the evolution of self-driving freight trucks.

In October, Aurora opened a more than 90,000-square-foot terminal at a Fallbrook Drive logistics hub in northwest Houston to support the launch of its first “lane” for driverless trucks—a Houston-to-Dallas route on the Interstate 45 corridor. Aurora opened its Dallas-area terminal in April and the company began regular driverless customer deliveries between the two Texas cities on April 27.

Close to half of all truck freight in Texas moves along I-45 between Houston and Dallas.

“Now, we are the first company to successfully and safely operate a commercial driverless trucking service on public roads. Riding in the back seat for our inaugural trip was an honor of a lifetime – the Aurora Driver performed perfectly and it’s a moment I’ll never forget,” Chris Urmson, CEO and co-founder of Pittsburgh-based Aurora, said in a news release.

Aurora produces software that controls autonomous vehicles and is known for its flagship product, the Aurora Driver. The software is installed in Volvo and Paccar trucks, the latter of which includes brands like Kenworth and Peterbilt.

Aurora previously hauled more than 75 loads per week under the supervision of vehicle operators from Houston to Dallas and Fort Worth to El Paso for customers in its pilot project, including FedEx, Uber Freight and Werner. To date, it has completed over 1,200 miles without a driver.

The company launched its new Houston to Dallas route with customers Uber Freight and Hirschbach Motor Lines, which ran supervised commercial pilots with Aurora.

“Transforming an old school industry like trucking is never easy, but we can’t ignore the safety and efficiency benefits this technology can deliver. Autonomous trucks aren’t just going to help grow our business – they’re also going to give our drivers better lives by handling the lengthier and less desirable routes,” Richard Stocking, CEO of Hirschbach Motor Lines, added in the statement.

The company plans to expand its service to El Paso and Phoenix by the end of 2025.

“These new, autonomous semis on the I-45 corridor will efficiently move products, create jobs, and help make our roadways safer,” Gov. Greg Abbott added in the release. “Texas offers businesses the freedom to succeed, and the Aurora Driver will further spur economic growth and job creation in Texas. Together through innovation, we will build a stronger, more prosperous Texas for generations.”

In July, Aurora said it raised $820 million in capital to fuel its growth—growth that’s being accompanied by scrutiny.

In light of recent controversies surrounding self-driving vehicles, the International Brotherhood of Teamsters, whose union members include over-the-road truckers, recently sent a letter to Lt. Gov. Dan Patrick calling for a ban on autonomous vehicles in Texas.

“The Teamsters believe that a human operator is needed in every vehicle—and that goes beyond partisan politics,” the letter states. “State legislators have a solemn duty in this matter to keep dangerous autonomous vehicles off our streets and keep Texans safe. Autonomous vehicles are not ready for prime time, and we urge you to act before someone in our community gets killed.”

Houston cell therapy company launches second-phase clinical trial

fighting cancer

A Houston cell therapy company has dosed its first patient in a Phase 2 clinical trial. March Biosciences is testing the efficacy of MB-105, a CD5-targeted CAR-T cell therapy for patients with relapsed or refractory CD5-positive T-cell lymphoma.

Last year, InnovationMap reported that March Biosciences had closed its series A with a $28.4 million raise. Now, the company, co-founded by Sarah Hein, Max Mamonkin and Malcolm Brenner, is ready to enroll a total of 46 patients in its study of people with difficult-to-treat cancer.

The trial will be conducted at cancer centers around the United States, but the first dose took place locally, at The University of Texas MD Anderson Cancer Center. Dr. Swaminathan P. Iyer, a professor in the department of lymphoma/myeloma at MD Anderson, is leading the trial.

“This represents a significant milestone in advancing MB-105 as a potential treatment option for patients with T-cell lymphoma who currently face extremely limited therapeutic choices,” Hein, who serves as CEO, says. “CAR-T therapies have revolutionized the treatment of B-cell lymphomas and leukemias but have not successfully addressed the rarer T-cell lymphomas and leukemias. We are optimistic that this larger trial will further validate MB-105's potential to address the critical unmet needs of these patients and look forward to reporting our first clinical readouts.”

The Phase 1 trial showed promise for MB-105 in terms of both safety and efficacy. That means that potentially concerning side effects, including neurological events and cytokine release above grade 3, were not observed. Those results were published last year, noting lasting remissions.

In January 2025, MB-105 won an orphan drug designation from the FDA. That results in seven years of market exclusivity if the drug is approved, as well as development incentives along the way.

The trial is enrolling its single-arm, two-stage study on ClinicalTrials.gov. For patients with stubborn blood cancers, the drug is providing new hope.

Elon Musk's SpaceX site officially becomes the city of Starbase, Texas

Starbase, Texas

The South Texas home of Elon Musk’s SpaceX rocket company is now an official city with a galactic name: Starbase.

A vote Saturday, May 3, to formally organize Starbase as a city was approved by a lopsided margin among the small group of voters who live there and are mostly Musk’s employees at SpaceX. With all the votes in, the tally was 212 in favor to 6 against, according to results published online by the Cameron County Elections Department.

Musk celebrated in a post on his social platform, X, saying it is “now a real city!”

Starbase is the facility and launch site for the SpaceX rocket program that is under contract with the Department of Defense and NASA that hopes to send astronauts back to the moon and someday to Mars.

Musk first floated the idea of Starbase in 2021 and approval of the new city was all but certain. Of the 283 eligible voters in the area, most are believed to be Starbase workers.

The election victory was personal for Musk. The billionaire’s popularity has diminished since he became the chain-saw-wielding public face of President Donald Trump’s federal job and spending cuts, and profits at his Tesla car company have plummeted.

SpaceX has generally drawn widespread support from local officials for its jobs and investment in the area.

But the creation of an official company town has also drawn critics who worry it will expand Musk’s personal control over the area, with potential authority to close a popular beach and state park for launches.

Companion efforts to the city vote include bills in the state Legislature to shift that authority from the county to the new town’s mayor and city council.

All these measures come as SpaceX is asking federal authorities for permission to increase the number of South Texas launches from five to 25 a year.

The city at the southern tip of Texas near the Mexico border is only about 1.5 square miles (3.9 square kilometers), crisscrossed by a few roads and dappled with airstream trailers and modest midcentury homes.

SpaceX officials have said little about exactly why they want a company town and did not respond to emailed requests for comment.

“We need the ability to grow Starbase as a community,” Starbase General Manager Kathryn Lueders wrote to local officials in 2024 with the request to get the city issue on the ballot.

The letter said the company already manages roads and utilities, as well as “the provisions of schooling and medical care” for those living on the property.

SpaceX officials have told lawmakers that granting the city authority to close the beach would streamline launch operations. SpaceX rocket launches and engine tests, and even just moving certain equipment around the launch base, requires the closure of a local highway and access to Boca Chica State Park and Boca Chica Beach.

Critics say beach closure authority should stay with the county government, which represents a broader population that uses the beach and park. Cameron County Judge Eddie Trevino, Jr. has said the county has worked well with SpaceX and there is no need for change.

Another proposed bill would make it a Class B misdemeanor with up to 180 days in jail if someone doesn’t comply with an order to evacuate the beach.

The South Texas Environmental Justice Network, which has organized protests against the city vote and the beach access issue, held another demonstration Saturday that attracted dozens of people.

Josette Hinojosa, whose young daughter was building a sandcastle nearby, said she was taking part to try to ensure continued access to a beach her family has enjoyed for generations.

With SpaceX, Hinojosa said, “Some days it’s closed, and some days you get turned away."

Organizer Christopher Basaldú, a member of the Carrizo/Comecrudo Nation of Texas tribe, said his ancestors have long been in the area, where the Rio Grande meets the Gulf.

“It’s not just important,” he said, “it’s sacred.”

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