Big deals: These were the top 5 investment rounds raised by Houston startups in 2022

year in review

These five deals were the largest rounds raised by Houston startups, according to InnovationMap. Photo via Getty Images

Editor's note: As 2022 comes to a close, InnovationMap is looking back at the year's top stories in Houston innovation. When it came to the money raised in Houston, these five startups raised the most, according to reporting done by InnovationMap.

Houston unicorn chemicals company raises $200M series D

Solugen closed its series D funding round at $200 million. Photo via Getty Images

Houston-based Solugen has announced its latest round of investment to the tune of $200 million. The company, which reached unicorn status after its $357 million series C round last year, uses its patented Bioforge processes to produce "green" chemicals from bio-based feedstocks.

"Solugen is reimagining the chemistry of everyday life with enzymes found in nature. We make chemicals better, faster, cheaper, and without fossil fuels from right here in Houston, Texas. Whether you care about the climate, local competitiveness, or just plain old profits, we have good news: it's working," the company states in its news release. Read more.

Houston microgrid tech company announces $150 investment

Houston-based VoltaGrid provides small-scale, self-contained microgrids that can operate independently of major power grids or in tandem with other microgrids. Photo via voltagrid.com

VoltaGrid, a Bellaire-based startup that specializes in distributed power generation via microgrids, has hauled in $150 million in equity funding.

Founded in 2020, VoltaGrid provides small-scale, self-contained microgrids that can operate independently of major power grids or in tandem with other microgrids. VoltaGrid’s product consists of natural gas engines, portable energy storage, natural gas processing and grid power connectivity. Read more.

Houston company raises $138M for next-generation geothermal energy

The future of geothermal energy is here — and just got a big payday. Photo via Getty Images

Houston-based startup Fervo Energy has picked up $138 million in funding to propel its creation and operation of carbon-free power plants fueled by geothermal energy.

Fervos says the series C round will help it complete power plants in Nevada and Utah and evaluate new projects in California, Idaho, Oregon, Colorado, and New Mexico, as well as in other countries.

California-based investment firm DCVC led the round, with participation from six new investors. Read more.

Houston company closes $76M series C round to fuel its mission of reducing carbon emissions

Syzygy Plasmonics has raised a series C round of funding. Photo courtesy of Syzygy

A Houston-based company that is electrifying chemical manufacturing has closed its largest round of funding to date.

Syzygy Plasmonics closed a $76 million series C financing round led by New York-based Carbon Direct Capital. The round included participation from Aramco Ventures, Chevron Technology Ventures, LOTTE CHEMICAL, and Toyota Ventures. The company's existing investors joining the round included EVOK Innovations, The Engine, Equinor Ventures, Goose Capital, Horizons Ventures, Pan American Energy, and Sumitomo Corporation of Americas. According to a news release, Carbon Direct Capital will join Syzygy's board and serve as the series C director. Read more.

Fast-growing energy fintech startup raises $50M series B

The series B capital will allow the company to enhance its core product, while also adding on other workflows that focus on emissions and renewable energy. Image via combocurve.com

Houston-based ComboCurve announced today that it has raised $50 million through a series B funding round led by Dragoneer Investment Group and Bessemer Venture Partners.

Founded in 2017, the company is a cloud-based energy analytics and operating platform that uses sophisticated software to forecast and report on a company's energy assets, including renewables.

The series B capital will allow the company to enhance its core product, while also adding on other workflows that focus on emissions and renewable energy. Read more.


From Your Site Articles
A new venture fund, which is led by three Houston female investors and focuses on women-owned startups, made its first investment, and other top stories in Houston innovation. Courtesy of The Artemis Fund

5 most popular innovation stories in Houston this week

What's trending

Editor's note: Houston had money on its mind this week with a new female-focused fund doling out its first investment to Houston having a record quarter for VC funds. Also trending was the news of Houston ranking high on the list of large metros that are great for startups and three University of Houston researchers who are re-envisioning brain treatment and technologies.

New Houston venture capital firm makes first investment

The Artemis Fund, which focuses on providing access to capital to women-led companies, made its first investment. Getty Images

The new female-founded venture capital fund that launched in Houston in April has made its first investment. The Artemis Fund led Burbank, California-based U-Nest's $2 million Seed round.

U-Nest is a user-friendly app that allows for users to create a 529 college savings plan in less than five minutes and $25. This tool provides access to financial tools that previously were only available to wealthy families who could afford financial advisers. Continue reading the story.

3 Houston innovators to know this week

From smart home technology to higher education institutions, these leaders are pushing forward innovation in Houston. Courtesy photos

Another week, another set of Houston innovators to keep your eye on. This week's edition crosses retail technology with higher education — both on this planet and beyond.

From tech that's orbiting the planet to tech that's in your very home, here are the Houston-based innovators to know. Continue reading the story.

Houston sees massive growth in startup venture capital investments

The most exciting part of this Texas startup funding roundup is that Houston brought in more dollars than Dallas. Getty Images

When it comes to startup funding, Texas saw only a small jump in startup investments made, according to Crunchbase. However, when you look at funds coming into Houston companies, the Bayou City's numbers soared.

Houston raked in $251 million of the state's total $817.9 million for the second quarter. Last quarter, the city posted a mere $44.7 million of investment into local startups, which was previously a huge drop from the $121.4 million reported in Q4 2018, according to Crunchbase. Continue reading the story.

3 ways University of Houston researchers are innovating brain treatments and technologies

Three UH researchers are revolutionizing the way we think the brain works. Andriy Onufriyenko/Getty Images

While a lot of scientists and researchers have long been scratching their heads over complicated brain functionality challenges, these three University of Houston researchers have made crucial discoveries in their research.

From dissecting the immediate moment a memory is made or incorporating technology to solve mobility problems or concussion research, here are the three brain innovations and findings these UH professors have developed. Continue reading the story.

Houston named among the best large cities for early-stage startups

Houston came in at No. 5 for best cities — with populations of more than 1 million residents — for startups. Photo by Tim Leviston/Getty Images

When it comes to cities with over a million residents, Houston's at the front of the pack, according to a new study. But, there's a catch.

Last month, Commercial Cafe rounded up the 20 top cities for early-stage startups and entrepreneurs, and Houston missed the list. Now, the commercial real estate blog has broken down the data into three top ten lists based on city size, and Houston has claimed the No. 5 spot on the list of cities with 1 million or more residents. Continue reading the story.

The Artemis Fund, which focuses on providing access to capital to women-led companies, made its first investment. Getty Images

New Houston venture capital firm makes first investment

Follow the money

The new female-founded venture capital fund that launched in Houston in April has made its first investment. The Artemis Fund led Burbank, California-based U-Nest's $2 million Seed round.

U-Nest is a user-friendly app that allows for users to create a 529 college savings plan in less than five minutes and $25. This tool provides access to financial tools that previously were only available to wealthy families who could afford financial advisers.

Syndicate partners, including The Draper Dragon Fund, Band of Angels, and Pasadena Angels, also contributed to the round.

"I'm very excited that The Artemis Fund has led my seed round because they've proven to be an amazing partner that brings a lot of value to the company beyond the money," says U-Nest founder, Ksenia Yudena, in a news release. "During the fundraising process, they made a lot of strategic introductions to the partners and advisers that helped us grow the business. They also coordinated the due diligence with other co-investors that made the process very smooth."

Prior to launching her startup, Yudena managed $1.2 bullion in business as vice president at Capital Group America Funds, and she has over 10 years of experience in financial services.

"I believe that we need more female led funds, because they understand the needs and struggles of the female founders," Yudena continues in the release. "We're on the same page in all matters related to the fundraising and building the successful company."

The Artemis Fund was founded by Stephanie Campbell, Leslie Goldman, and Diana Murakhovskaya, all of whom have years in investment experience from various institutions across the country and here in Houston. The three women wanted to provide a platform to funnel funds to female-founded startups that are constantly overlooked by other VC funds. Only 2 percent of funding from VC firms goes to women-led institutions, the release cites.

Goldman was introduced to the U-Nest team through one of the startup's advisers.

"We are thrilled to announce this as our first investment," Goldman says in the release. "We just need 14 more founders like Ksenia. With her drive, determination, deep expertise in this area, and her ability to attract top, seasoned talent, she sets the bar high for us as we look for additional portfolio companies."

U-Nest's mission of making financial information more accessible to families who need it most was especially attractive for the fund.

"Through her experience, [Yudena] saw a real world need for access to education planning and developed an incredibly impressive product to meet that need," Goldman continues in the release. "U-Nest squarely aligns with the Artemis thesis: stellar management team, traction with a product that will have tremendous impact on people's lives, scalable with a large addressable market opportunity, and a realistic exit strategy that can produce outsized returns."

Peter Mansfield serves as U-Nest's chief marketing officer and previously served as a consultant to Marqeta, which has a slew of successful clients — to the tune of Square, Affirm, DoorDash, Kabbage and Instacart — and recently closed a Series E valuation of $2 billion.

"We couldn't be more excited to have Artemis lead our round. From our first meeting it was clear that The Artemis Fund team understood our mission to eradicate the college loan crisis and shared our desire to champion women entrepreneurs," Mansfield says in the release. "The Artemis Fund is a perfect fit for U-Nest."

The Artemis Fund was founded by Diana Murakhovskaya (left), Leslie Goldman (center), and Stephanie Campbell.Courtesy of The Artemis Fund

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Rice University launches AI initiative, plans to hire 75 faculty

ai expansion

Houston’s Rice University announced a university-wide artificial intelligence initiative this week that includes hiring 75 new AI-focused faculty. It also shared new details about its planned state-of-the-art facility, The Arc.

Fresh off the announcement of Rice’s new Master of Artificial Intelligence (MAI) coming next fall, the university shared that it plans to expand its AI-related courses and be a “global leader in advanced computing and responsible AI.”

Rice reports that it has already hired 35 faculty members to deepen expertise across schools and departments regarding AI, and plans to recruit 40 more across disciplines including engineering, computing, health, energy, environmental resilience, business, humanities and the arts.

Rice's schools and departments have identified the four cluster areas to guide its hiring:

  • Foundational AI
  • AI for Health
  • AI for Energy, the Environment and Resiliency
  • Responsible AI: Society and Ethics

“Hiring exceptional faculty is essential, but it is only one part of the equation,” Amy Dittmar, Rice’s Howard R. Hughes Provost and executive vice president for academic affairs, said in a news release. “We are building the people, places and partnerships needed to advance AI from foundational discovery to societal impact.”

Another major component of the effort is the planned 200,000-square-foot facility, The Arc, which Rice announced will break ground this fall. Rice will occupy nearly 80,000 square feet of office and laboratory space dedicated to topics including AI, data science, robotics, computational engineering and energy. The university previously announced that The Arc would be completed in Q1 2028.

The Arc will also house the AI Foundry, which is being developed as a collaborative space for industry partners, scientists and students.

“As Rice grows, we are being intentional about where we invest and how we build,” Rice President Reginald DesRoches added in the release. “By bringing together exceptional faculty, a strong interdisciplinary research community, world-class facilities and Houston’s extraordinary innovation ecosystem, Rice has an opportunity not simply to participate in the AI revolution but to help define its future.”

5 minority-founded startups shaping the future of Houston innovation

meet the finalists

Houston’s startup ecosystem reflects the diversity of the city itself.

As part of the 2026 Houston Innovation Awards, our Minority-founded Businesses category will honor an innovative Houston startup founded or co-founded by BIPOC or LGBTQ+ representation.

Five minority-founded businesses have been named finalists for the 2026 award. The finalists, selected by our esteemed panel of judges, range from an AI edtech startup to a company operating in the floating offshore energy infrastructure sector.

Read more about these innovative businesses, their initiatives, and their inspirational founders below. The 2026 winners will be announced on InnovationMap.com in mid-November.

AI Made Fun

Edtech startup AI Made Fun is working to close the gap in AI education by teaching K-12 students how to understand and responsibly use artificial intelligence. The company has developed a comprehensive AI literacy curriculum with 60 modules, animated videos, interactive activities, teacher guides and family resources. Its curriculum covers how AI works, misinformation, algorithmic bias, data privacy, online safety and academic integrity.

AI Made Fun was founded in 2025 by Devshree Golecha. It launched in classrooms this school year with five licensed schools serving more than 800 students. The company is pursuing partnerships with Houston-area school districts, including Houston ISD and Alief ISD, and has pledged free and subsidized access for underserved communities.

Deep Anchor Solutions

Offshore energy consulting and design company Deep Anchor Solutions wants to help scale floating offshore energy infrastructure by removing anchoring as a barrier. Its deeply embedded ring anchor (DERA) technology can be installed quietly without heavy-lift vessels, reducing anchor-related costs by up to 75 percent and lifecycle CO2 emissions by up to 80 percent.

The company was founded in 2023 by CEO Junho Lee and technical advisor Charles Aubeny. Lee earned his Ph.D. in geotechnical engineering from Texas A&M University, where Aubeny is a professor of civil and environmental engineering. The company has participated in numerous accelerators and incubators, including Greentown Labs, MassChallenge, EnergyTechNexus LiftOff and others. Lee was an Activate 2025 fellow.

HEXAspec

Rice University spinout HEXASpec is working to improve the sustainability and thermal conductivity of semiconductor chips. The company has developed breakthrough inorganic fillers that allow graphic processing units (GPUs) to use less water and electricity and generate less heat.

HEXASpec was founded in 2025 by CEO Tianshu Zhai, CTO Jing Zhang and chief product officer Chen-Yang Lin. It has raised $800,000 in pre-seed funding and another $1.5 million in non-dilutive grants, according to the company's application. The startup won the Liu Idea Lab for Innovation and Entrepreneurship's H. Albert Napier Rice Launch Challenge in 2024 and the 2025 Energy Venture Day and Pitch Competition during CERAWeek in the TEX-E student track in 2025. It was awarded a $500,000 National Science Foundation Partnership for Innovation grant last summer.

Prana Surgical

Health tech company Prana Surgical is developing a minimally invasive surgical platform for small, hard-to-reach lung nodules that may be cancerous. The company's Prana System cleared U.S. Food and Drug Administration (FDA) approval earlier this year.

Prana Surgical was originally founded as Prana Thoracic in 2022. It has participated in numerous accelerators, including the Texas Medical Center Innovation Accelerator in 2023 and the IGNITE Health accelerator in 2022. It raised $6 million in Series A funding rounds in 2023 and 2024 , with a Series B currently ongoing. The company said in its application that it is currently moving into the next stage of clinical validation and revenue generation in the U.S., in addition to preparing its manufacturing and commercial infrastructure for broader use.

Torres Orbital Mining Inc.

Space tech company Torres Orbital Mining is developing autonomous excavation and material preprocessing systems to move and process granular materials while reducing workers’ exposure to hazardous dust. The company is initially commercializing its technology for Earth-bound applications—including silica sand, recycled glass and mine tailings—though the technology is also designed to support future lunar mining operations. The company aims to accelerate a permanent and ethical human presence on the Moon.

CEO Luis Torres founded Torres Orbital Mining in 2025. The company is a member of Greentown Labs and has participated in accelerators like the ESRIC Space Resources Startup Program and Capital Factory All Access Fund. The company received a six-month, $225,000 SBIR Phase I contract from NASA in August.

Italian aerospace company sets up first U.S. office at Houston Spaceport

welcome to houston

Como, Italy-based aerospace company Involve Space recently made the Houston Spaceport the site of its first U.S. office.

Involve Space develops high-altitude balloon platforms for Earth observation, scientific research and hardware testing. The balloons carry instruments into the stratosphere (a layer of the upper atmosphere) to collect images and data, conduct experiments and test technology.

The company plans to launch its first commercial missions from Houston by the end of this year, according to a news release.

“Houston is the global center of aerospace, and our presence at Houston Spaceport strengthens our international growth trajectory,” Jonathan Polotto, founder and CEO of Involve Space, said in the release.

Founded in 2021, Involve Space incorporates aerospace hardware, AI and geospatial tools into its offerings. Its proprietary CLEAR platform uses conversational AI to help customers interpret data and support decision-making.

Located at Ellington Airport, the Houston Spaceport provides a base for Involve Space’s North American operations, including business development and partnerships with aerospace companies and researchers.

Other tenants at the Houston Spaceport include NASA, Axiom Space, Venus Aerospace and Intuitive Machines.

Involve Space’s relationship with the Houston Spaceport began in January 2025, when it conducted its first U.S. pilot launch. During the five-hour mission, the balloon reached an altitude of about 85,000 feet and traveled about 250 miles across Texas.

One of Involve Space’s first U.S. customers is Houston-based Rhodium Scientific, a space biotech company. Polotto and Rhodium Scientific founder and CEO Olivia Gamez Holzhaus signed a deal to conduct biotech experiments aboard Involve Space’s stratospheric balloon platforms before planned missions to orbit.

“The presence of innovative platforms like those developed by Involve strengthens the Spaceport’s role as a site for testing, validating, and deploying advanced technologies between aeronautics and space,” Jim Szczesniak, director of aviation for Houston Airports, added in the release.

View All Listings