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

A new venture capital fund has mobility on the mind — and it's just raised $50 million to support startups working on solutions in the mobility or mobility-related industries.

Proeza Ventures, which is based in Houston and Monterrey, Mexico, reportedly closed its first fund Proeza Ventures I. 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.

"Our mission is to discover and invest in visionary founders building early stage startups transforming the way in which we think about mobility and with whom we can partner to make a more sustainable world," says Rodolfo Dieck, managing director at Proeza Ventures, in a news release.

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.

"We expect to be writing first time checks in the range of $500,000 and up to $2 million reserving enough capital to support companies in their development trajectory," says Dieck in the release.

Rodolfo Dieck, managing director, (left) and Enrique Marcelo Zambrano, principal, lead the fund. Photo via proezaventures.com

Grupo Proeza comes with a network of experts. The company owns Metalsa, a structural automotive products supplier and current market leader in frames for light trucks in North America, per the release. The subsidiary has more than 60 years of global manufacturing and operating experience within the industry.

The group will use its platform to benefit startups within its portfolio, which already includes Boston-based Indigo Technologies that's developing an in-wheel e-motor and a California-based micro mobility company that is disrupting the scooter ecosystem.

"We back entrepreneurs with an ambitious vision and the grit and operational skills to execute their business plan and transform the sectors they participate in," says Enrique Marcelo Zambrano, principal at P.V., in the release. "We expect to help them leverage our deep expertise in mobility, our unique platform and network."

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."

Cognite is opening two offices in Texas. Getty Images

European software company plans first U.S. office in Houston

New to town

When considering entering the United States market, Francois Laborie, general manager of Cognite North Americas, of course considered some of the obvious cities for a regional headquarters.

"Initially, when we talked about the US, people assumed Silicon Valley or Boston, because we are a traditional software company," Laborie says. "But we really didn't consider too long because the customers we work with require a pretty deep understanding of industry."

The Norway-based company decided to bet on the energy capital of the world and has announced future offices in Houston as well as Austin — both to open by this summer. This will be Cognite's first expansion outside of Northern Europe. The company makes data software for industrial businesses — oil and gas being a huge focus, as is engineering, equipment manufacturing, shipping, and more.

"The industrial world is very siloed and closed, and we are changing a lot of things in that world," Laborie says. "In the digital world, data and information only becomes valuable as you share it. We are all about liberating data, contextualizing it, and then drawing value out of it."

Laborie says the Houston office will be the company's energy hub — both current and prospective clients of Cognite have pressences in town. Meanwhile, Austin will be the tech hub, since the city has a large tech talent pool. Currently, Austin is on the path to be the U.S. headquarters, but nothing is set in stone at the moment, Laborie says.

Cognite, which expects around 50 employees (both new hires and relocations) split between the two locations, already has strategic Houston partnerships in place. Cognite will operate out of Station Houston and even has an internship program and partnership with Rice University. Overall, Laborie says the reception of the city has been positive.

"Houston went above and beyond," Laborie says. "The relationship with Rice has been very interesting because they are working closely with the Houston municipality to transform this image of Houston to get a stronger driver on innovation with the Innovation District, which spoke very loudly to us."

These partnerships are a crucial party of the company, Laborie says, and Cognite plans to work within Houston's innovation ecosystem to continue to push the envelope on innovative technologies.

"We have partnerships with large corporations, but we also see the importance to work with smaller companies to drive innovation — even if they aren't directly related," Laborie says.

Lori-Lee Emshey's Future Sight AR is revolutionizing antiquated construction tools using augmented reality. Courtesy of Future Sight AR

Houston company has sight set on AR solutions for industrial construction

Visual aid

When Lori-Lee Emshey got her first oil and gas construction job in Australia, she was carrying around a backpack full of papers.

"I was really shocked at how much work they were doing with such little technology," Emshey says. "I thought, 'there's so much room for innovation here.'"

She realized that it wasn't just that site or the company she was working for — this was a problem across the industry. So, she came up with a solution. Houston-based Future Sight AR is an augmented reality technology to more efficient work on industrial construction sites. Workers can use a smart device in the field, point it at a problem on site, log the issue, and see the steps needed to fix it.

Constructing a company
Emshey realized the potential for a company in January 2016. Since then, she's partnered up with her co-founders, Sofia Lazaro and Veena Somareddy, attended accelerators and conferences across the country, completed a proof of concept, until finally incorporated this year.

It was a well-paced start for the company because they got to prove time and time again there was a need for the company. Emshey says she never wanted to start a company just to start a company. They worked tirelessly at the beginning to ensure there was no one out there already doing this in the way they were doing it.

"I feel like a lot of entrepreneurs now become an entrepreneur because it's trendy and cool, and you want to put it in your Instagram bio," she says. "The three of us aren't like that. We did this because we had to. It wasn't going to get done another way, and we couldn't let this giant opportunity float on by."

Once they got a firm footing, one of the challenges they faced was communicating the company's market need and how the technology works to individuals outside the industry. For Emshey, this was particularly annoying.

"I came from a journalism background, and it's storytelling," she says. "I thought, 'I should be able to do this.'"

Something eventually just clicked, and Emshey stopped seeing confused faces in response to her presentation, and she started seeing more head nodding. However, another challenge she says she occasionally faces is how she looks.

"It is tough. I'm pitching this industrial construction startup, and I show up and I'm a 5-foot-5 blond woman," she says. "And some people don't care, and some people would prefer I looked a different way."

Foreseeing the company's future
Raising capital has been the latest focus for Future Sight AR. Aside from some grants and accelerator money, the company hasn't raised much. They've only just started meeting with investors and have a plan to launch a round of fundraising next year. Emshey also says they are looking to partner with three companies to conduct a few pilots early next year.

It's a great time in technology for Future Sight AR as more and more people are using AR and virtual reality. People use AR or VR often — in SnapChat filters or through Pokemon Go!

Emshey says she thinks VR will grow first in gaming, while AR will take off through enterprise.

"Unlike VR when you're completely immersed, in AR, you're seeing your actual environment and one of the places you have to do that is at work," Emshey says.

Whether it's through being acquired or growing the company on its own, Emshey says she wants Future Sight AR to evolve the industry as a whole.

"If we could permanently change the way that we build projects — oil and gas or another industry — and move it toward something more efficient, safer, more productive, and a better experience for workers, and accomplish that in a permanent way in a permanent way, then we're successful," she says. "We really built this for me — I was the worker out in the field trying to do things, and it was unnecessarily difficult."

SeeHerWork launched its line of female-gear in September. Courtesy of SeeHerWork

Houston company aims to equally equip female workers

If the glove doesn't fit

When Jane Henry was working on her home right after Hurricane Harvey — her house got three feet of mud in it — she went to throw a board into the dumpster, and her glove went with it.

Henry says the industry standard is to recommend small and extra-small sizes for women's workwear, but as a ladies large in athletic gloves, Henry still had a good inch or so of glove at her fingertips in her workwear gloves.

"I went upstairs to my sewing room, and I ripped that glove apart and I resewed it to fit my hand," Henry says.

Other women stopped her in hardware stores to ask her about her shoddily sewn glove, and she realized this was the idea for next company. She incorporated SeeHerWork a few months later in January of 2018, and she launched her line of clothing in September, just a year after she had the idea. Based in Houston, SeeHerWork rents warehouse space in Kingwood and has its corporate office in Midtown.

Doing the legwork
Henry is no stranger to the startup game. She created her own consulting company, Xcution Inc., over 16 years ago, but she downsized the company in 2016 when oil prices took a turn. Instead, she went into Rice University's MBA program, where, ultimately, she created a network of associates that would eventually help SeeHerWork grow.

"I've been a serial entrepreneur — been trying to avoid calling myself that," says Henry. "I have two entrepreneurial parents, and I told myself I'd never be an entrepreneur, yet that's what I keep doing."

Through her business expertise and education, she knew she had to start with a one-page business plan for the company. She then took her idea to over 50 focus groups made up of 10 to 20 female workers, safety managers, and procurement managers across industries — transportation, military oil and gas, engineering, and more.

"The response was eerily similar despite the industry," Henry says.

The focus group participants were tired of the "pink it and shrink it" approach to women's workwear and equipment. They felt like if their supplies don't fit, they don't fit. Mentorship opportunities and performance are then subsequently hindered, creating a spiral effect of deterring women from entering the skilled labor workforce. This is a huge problem, considering there's the recent labor shortage with these types of jobs.

She took this information and her first prototypes to a national pitch competition to great success — and a standing ovation. Henry also connected with the Rice Angel Network, Station Houston, The Cannon, and other local innovation-focused entities.

Roadwork ahead
Henry has big plans for SeeHerWork, and is in talks with a few large entities — like the Houston Airport System, Fluor Corp., and Toyota — that have expressed interest in using her gear for their workforce. Henry also wants to expand her products and reach female workers through retail — online and in store.

"Ultimately, SeeHerWork is the Lululemon of workwear," Henry says.

SeeHerWork is focused on keeping women safe, firstly, but also encouraging more women to enter the skilled labor workforce and then work their way up the ladder.

"I don't want people to think of us as a workwear company," Henry says. "I want them to think of us as an inclusion company. Mostly because just like professional sports team, the first step is the right clothing and equipment and the second step is working to be a team and working together."

At your fingertips

Courtesy of SeeHerWork

SeeHerWork has a full line of products, from gloves and bags to safety vests and long-sleeves shirts. She's launching more products — like coveralls, pants, and footwear — soon.

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These are the 10 most promising energy tech startups, according to judges at Rice Alliance forum

best of the best

This week, energy startups pitched virtually for venture capitalists — as well as over 1,000 attendees — as a part of Rice Alliance for Technology and Entrepreneurship's 18th annual Energy and Clean Tech Venture Forum.

At the close of the three-day event, Rice Alliance announced its 10 most-promising energy tech companies. Here's which companies stood out from the rest.

W7energy

Based in Delaware, W7energy has created a zero-emission fuel cell electric vehicle technology supported by PiperION polymers. The startup's founders aim to provide a more reliable green energy that is 33 percent cheaper to make.

"With ion exchange polymer, we can achieve high ionic conductivity while maintaining mechanical strength," the company's website reads. "Because of the platform nature of the chemistry, the chemical and physical properties of the polymer membranes can be tuned to the desired application."

Modumetal

Modumetal, which has its HQ in Washington and an office locally as well, is a nanotechnology company focused on improving industrial materials. The company was founded in 2006 by Christina Lomasney and John Whitaker and developed a patented electrochemical process to produce nanolaminated metal alloys, according to Modumetal's website.

Tri-D Dynamics

San Francisco-based Tri-D Dynamics has developed a suite of smart metal products. The company's Bytepipe product claims to be the world's first smart casing that can collect key information — such as leak detection, temperatures, and diagnostic indicators — from underground and deliver it to workers.

SeekOps

A drone company based in Austin, SeekOps can quickly retrieve and deliver emissions data for its clients with its advance sensor technology. The company, founded in 2017, uses its drone and sensor pairing can help reduce emissions at a low cost.

Akselos

Switzerland-based Akselos has been using digital twin technology since its founding in 2012 to help energy companies analyze their optimization within their infrastructure.

Osperity

Osperity, based in Houston's Galleria area, is a software company that uses artificial intelligence to analyze and monitor industrial operations to translate the observations into strategic intelligence. The technology allows for cost-effective remote monitoring for its clients.

DroneDeploy

DroneDeploy — based in San Francisco and founded in 2013 — has raised over $92 million (according to Crunchbase) for its cloud-based drone mapping and analytics platform. According to the website, DroneDeploy has over 5,000 clients worldwide across oil and gas, construction, and other industries.

HEBI Robotics

Pittsburgh-based HEBI Robotics gives its clients the tools to build custom robotics. Founded 2014, HEBI has clients — such as NASA, Siemens, Ericsson — across industries.

CarbonFree Chemicals

CarbonFree Chemicals, based in San Antonio and founded in 2016, has created a technology to turn carbon emissions to useable solid carbonates.

SensorUp

Canadian Internet of Things company, SensorUp Inc. is a location intelligence platform founded in 2011. The technology specializes in real-time analysis of industrial operations.

"Whether you are working with legacy systems or new sensors, we provide an innovative platform that brings your IoT together for automated operations and processes," the company's website reads.

Amazon unlocks 2 prime brick-and-mortar stores in the Houston area

THAT'S SOME PRIME SHOPPING

The juggernaut that is Amazon considers to rule the universe and expand. Now, local fans of Jeff Bezos' digital behemoth can look forward to two new brick-and-mortar stores in the Houston area.

Amazon announced the opening of two Houston stores on September 18: Amazon 4-star in The Woodlands Mall and Amazon Books in Baybrook Mall.

For the uninitiated, the Amazon 4-star is a new store that carries highly rated products from the top categories across all of Amazon.com — including devices, consumer electronics, kitchen, home, toys, books, games, and more.

As the name implies, all products are rated four stars and above by Amazon customers. Other determinants include the item being a top seller, or if it is new and trending on Amazon.com, according to a press release.

Shoppers can expect fun features such as "Bring Your Own Pumpkin Spice," "Stay Connected Home Tech for Work and Play," "Fresh Off the Screen," and "Trending Around Houston" to discover must-have products. The Woodlands Amazon 4-star (1201 Lake Woodlands Dr.) is the 23rd Amazon 4-star location nationwide.

Meanwhile, shoppers in Baybrook Mall's Amazon Books (1132 Baybrook Mall Dr.) can expect myriad titles rated as customer favorites, whether trending on the site, devices, or listed as customer favorites. Amazon Books in the Baybrook Mall is the 23rd Amazon Books location nationwide.

Books customers can shop cookbooks alongside a highly curated selection of cooking tools, as well as, popular toys, games, and other home items. Amazon Books is open to all: Prime members pay the Amazon.com price in store, and customers who aren't already Prime members can sign up for a free 30-day trial and instantly receive the Amazon.com price in store, according a release.

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This article originally ran on CultureMap.