METRO launches a driver-less route, Houston biotech company raises millions, and more quick innovation news. Courtesy of METRO

So much Houston innovation news — so little time. In order to help keep in touch with all the news happening among startups and technology in Houston, we're hitting the highlights in this innovation news roundup.

If you know of innovation-focused news happening, email me at natalie@innovationmap.com with the details and subscribe to our daily newsletter that sends fresh stories straight to your inboxes every morning.


METRO launches a self-driving shuttle on Texas Southern University's campus

Courtesy of Metro

The first autonomous shuttle in Houston recently had its maiden voyage on Texas Southern University's campus. The route is a one-mile stretch that is called the "Tiger Walk.' The EasyMile shuttle can transport 12 passengers and is operated by First Transit. The project is a pilot program for METRO to see if it has successful applications in other public transportation efforts.

"When passengers board this all electric vehicle they will be riding into the future and experiencing a mode of transportation that in just a few years may become commonplace," says METRO Chair Carrin Patman in a release.

The first phase of the pilot kicked off June 5, as reported in a previous InnovationMap article.

After being deemed a hot tech company by Crunchbase, Data Gumbo grows its C-suite

Courtesy of Data Gumbo

In June, Data Gumbo was named among Crunchbase's top 50 hottest tech companies. The list looked for growing tech startups that have raised between $5 million and $20 million, with a recent round closing in the past six months. The Houston-based company closed its most recent round of $6 million in the spring.

Following the round completion, Data Gumbo's CEO, Andrew Bruce, noted the funds were intended to further develop the company's technology and grow the team. As of last week, Bruce made good on the promise and announced the company's new chief commercial officer, Sergio A. Tuberquia.

"As our new capital is being used to expand our commercial blockchain network, we are also expanding our internal teams to support our rapid global growth," says Bruce in a news release. "With Sergio joining to lead revenue efforts, this will further our company's mission to help oil and gas companies — and ultimately all industries -—realize greater efficiencies and cost savings in the supply chain. Sergio's mix of startup technology and oil and gas industry experience will greatly benefit Data Gumbo and its customers as the industry moves into digital oilfield solutions like blockchain."

Biotech company extends its Series D round to $43 million

Getty Images

Following a $20 million commitment from Sanford Health, Houston-based InGeneron Inc. has extended its Series D round to $43 million. The funds will go toward further developing the company's regenerative medicine and cell therapy. InGeneron currently has a clinical study for rotator cuff recovery.

The investment by South Dakota-based Sanford Health was announced in March, and last month, InGeneron made the call to expand the series.

"Sanford Health's continued support helps advance InGeneron's regenerative cell therapy into the expansive pivotal trial phase, a significant step toward bringing our therapy into the clinic," says Angelo Moesslang, CEO of InGeneron, in a release. "This is an exciting time for the company, as one of the largest health systems in the United States further affirms the potential of adipose-derived regenerative cell therapy, while we diligently work to make it available to patients."

Rice Business Plan winner to ring the Nasdaq bell

Courtesy of Rice University

The company that won the top prize at the Rice Business Plan Competition and walked away with almost $700,000 is claiming another one of its prizes. Vita Inclinata Technologies will ring the opening bell at Nasdaq on July 3.

The company, which created a technology to advance helicopter safety, will be represented by its CEO, Caleb Carr, and Brad Burke, managing director of the Rice Alliance for Technology and Entrepreneurship, and Will Roper, the U.S. Air Force's assistant secretary for acquisition, will also attend. The livestream footage is available online, beginning at 8:30 am central.

Mercury Fund raising money

Texas Money

Getty Images

Crunchbase broke the news that Houston-based Mercury Fund has secured $82 million of its fourth fund, Mercury Fund Ventures IV, that will total $125 million, per a regulatory filing that PE Hub reported on. Mercury Fund refused to comment on the ongoing raise, but intends to release more information following the close, a representative confirmed to InnovationMap.

According to Crunchbase's proprietary data, it's the largest fund to date for the firm. The most recent fund closed in 2014 at $105 million. Mercury Fund specializes in SaaS, cloud, and data science technology, according to its website.

Rice University and Baylor College of Medicine researcher recognized

Courtesy of Rice University

Olga Dudchenko, a genomics researcher at Rice University and Baylor College of Medicine, been named to MIT Technology Review magazine's 2019 list of 35 Innovators Under 35.

Dudchenko, who is completing her postdoctoral fellowship at Rice's Center for Theoretical Biological Physics, has developed a method to sequence and assemble the genome of any organism for less than $1,000. Her process is comparable the that of the Human Genome Project, which cost $3 billion.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Mark Cuban calls AI ‘the greater democratizer’ for young entrepreneurs

eyes on AI

Texas billionaire Mark Cuban—whose investment portfolio includes Houston-based Holliball, a startup that makes and sells large inflatable holiday ornaments—believes AI is leveling the playing field for budding low-income entrepreneurs.

At the recent Clover x Shark Tank Summit in Las Vegas, the Shark Tank alum called AI “the greater democratizer.”

Cuban told Axios that free and low-cost AI tools enable disadvantaged teenagers to compete with seasoned professionals.

“Right now, if you’re a 14- to 18-year-old and you’re in not-so-good circumstances, you have access to the best professors and the best consultants,” Cuban said. “It allows people who otherwise would not have access to any resources to have access to the best resources in real time. You can compete with anybody.”

While Cuban believes AI is “the great democratizer” for low-income young people, low-income workers still face hurdles in navigating the AI landscape, according to Public Works Partners, an urban planning and consulting firm. The firm says access to AI among low-income workers may be limited due to cost, insufficient digital literacy and infrastructure gaps.

“Without adequate resources and training, these workers may struggle to adapt to AI-driven workplaces or access the educational opportunities necessary to acquire new skills,” Public Works Partners said.

Texas 2036, a public policy organization focused on the state’s future, reported in January AI jobs in Texas are projected to grow 27 percent over the next decade. The number 2036 refers to the year when Texas will celebrate its bicentennial.

As for the current state of AI, Cuban said he doesn’t think the economy is witnessing an AI bubble comparable to the dot-com bubble, which lasted from 1998 to 2000.

“The difference is, the improvement in technology basically slowed to a trickle,” Cuban said of the dot-com era. “We’re nowhere near the improvement in technology slowing to a trickle in AI.”

CPRIT hires MD Anderson official as chief cancer prevention officer

new hire

The Austin-based Cancer Prevention and Research Institute of Texas, which provides funding for cancer research across the state, has hired Ruth Rechis as its chief prevention officer. She comes to CPRIT from Houston’s University of Texas MD Anderson Cancer Center, where she led the Cancer Prevention and Control Platform.

Before joining MD Anderson, Rechis was a member of the executive leadership team at the Livestrong Foundation, an Austin-based nonprofit that supports people affected by cancer.

“Ruth has widespread connections throughout the cancer prevention community, both in Texas and across the nation,” CPRIT CEO Kristen Doyle said in a news release. “She is a long-term passionate supporter of CPRIT, and she is very familiar with our process, programs, and commitment to transparency. Ruth is a terrific addition to the team here at CPRIT.”

Rechis said that by collaborating with researchers, policymakers, public health leaders and community partners, CPRIT “can continue to drive forward proven prevention strategies that improve health outcomes, lower long-term costs, and create healthier futures for all.”

At MD Anderson, Rechis and her team worked with more than 100 organizations in Texas to bolster cancer prevention initiatives at clinics and community-based organizations.

Rechis is a longtime survivor of Hodgkin lymphoma, a type of cancer that affects the lymph nodes, which are part of a person’s immune system.