Top Space City news of 2023: New Houston unicorn, an IPO, spaceport development, and more

year in review

Here's what Houston tech and startup news trended this year on InnovationMap in space tech. Image via Getty Images

Editor's note: As the year comes to a close, InnovationMap is looking back at the year's top stories in Houston innovation. In the Space City, there were dozens of space tech stories, from a space tech company reaching unicorn status to another completing its IPO. Here are five Houston space tech-focused articles that stood out to readers this year — be sure to click through to read the full story.


Local university gets green light to launch new building at Houston Spaceport

City of Houston has entered into an agreement with Texas Southern University to develop an aviation program at the Houston Spaceport. Photo via fly2houston.com

With a financial boost from the City of Houston, the aviation program at Texas Southern University will operate an aeronautical training hub on a two-acre site at Ellington Airport.

The Houston Airport System — which runs Ellington Airport, George Bush Intercontinental Airport, Hobby Airport, and Houston Spaceport — is chipping in as much as $5 billion to build the facility, which will train aeronautical professionals.

On May 3, the Houston City Council authorized a five-year agreement between the airport system and TSU to set up and operate the facility. Continue reading the full story from May.

Houston space tech startup closes deal to IPO

Intuitive Machines will be listed on Nasdaq beginning 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.”

The transaction, which was originally announced in September, was approved by Inflection Point’s shareholders in a general meeting on February 8. As a result of the deal, the company will receive around $55 million of committed capital from an affiliate of its sponsor and company founders, the release states. Continue reading the full story from February.

Houston to host 6 Italian aerospace companies with new program

Six Italian companies are coming to the Space City to accelerate their businesses thanks to a new program. Photo via nasa.gov

It's an Italian invasion in Houston — and it's happening in the name of accelerating innovation within aerospace.

For the first time, Italy has announced an international aerospace-focused program in the United States. The Italian Trade Agency and Italian Space Agency will partner with Space Foundation to launch Space It Up, an initiative that will accelerate six companies in Houston.

“The launch of Space It Up marks a pivotal moment in our ongoing commitment to nurturing innovation and facilitating global partnerships," Fabrizio Giustarini, Italian Trade Commissioner of Houston, says in a news release. "This program serves as a testament to the collaborative spirit that defines the aerospace industry. It represents the convergence of Italian ingenuity and Houston's esteemed legacy in space exploration, setting the stage for unprecedented advancements." Continue reading the full story from August.

Houston space tech startup raises $350M series C, clinches unicorn status

Axiom Space CEO Michael Suffredini (right) has announced the company's series C round with support from Aljazira Capital, led by CEO Naif AlMesned. Photo courtesy of Axiom Space

Houston has another unicorn — a company valued at $1 billion or more — thanks to a recent round of funding.

Axiom Space released the news this week that it's closed its series C round of funding to the tune of $350 million. While the company didn't release its valuation, it confirmed to Bloomberg that it's over the $1 billion threshold. Axiom reports that, according to available data, it's now raised the second-most funding of any private space company in 2023 behind SpaceX.

Saudi Arabia-based Aljazira Capital and South Korea-based Boryung Co. led the round. To date, Axiom has raised over $505 million with $2.2 billion in customer contracts, according to the company.

“We are honored to team with investors like Aljazira Capital, Boryung and others, who are committed to realizing the Axiom Space vision,” Axiom Space CEO and president Michael Suffredini says in a news release. “Together, we are working to serve innovators in medicine, materials science, and on-orbit infrastructure who represent billions of dollars in demand over the coming decade. Continue reading the full story from August.

Texas university to build $200M space institute in Houston

Texas A&M University will build a new facility near NASA's Johnson Space Center. Photo courtesy of JSC

Texas A&M University's board of regents voted to approve the construction of a new institute in Houston that hopes to contribute to maintaining the state's leadership within the aerospace sector.

This week, the Texas A&M Space Institute got the greenlight for its $200 million plan. The announcement follows a $350 million investment from the Texas Legislature. The institute is planned to be constructed next to NASA’s Johnson Space Center in Houston.

“The Texas A&M Space Institute will make sure the state expands its role as a leader in the new space economy,” John Sharp, chancellor of the Texas A&M System, says in a news release. “No university is better equipped for aeronautics and space projects than Texas A&M.” Continue reading the full story from August.

From Your Site Articles
Six Italian companies are coming to the Space City to accelerate their businesses thanks to a new program. Photo via nasa.gov

Houston to host 6 Italian aerospace companies with new program

space it up

It's an Italian invasion in Houston — and it's happening in the name of accelerating innovation within aerospace.

For the first time, Italy has announced an international aerospace-focused program in the United States. The Italian Trade Agency and Italian Space Agency will partner with Space Foundation to launch Space It Up, an initiative that will accelerate six companies in Houston.

“The launch of Space It Up marks a pivotal moment in our ongoing commitment to nurturing innovation and facilitating global partnerships," Fabrizio Giustarini, Italian Trade Commissioner of Houston, says in a news release. "This program serves as a testament to the collaborative spirit that defines the aerospace industry. It represents the convergence of Italian ingenuity and Houston's esteemed legacy in space exploration, setting the stage for unprecedented advancements."

The Italian companies in the inaugural cohort represent various areas of cutting-edge aerospace innovations and technologies. The selected companies are:

  • Arca Dynamics, a space traffic management and Earth observation service provider.
  • Delta Space, a low-cost satellite connectivity for sensors and launch services.
  • Involve Space, a pseudo-satellite platform and intelligent software to enable access to space.
  • Nabu, an IoT and data analysis provider.
  • NOVAC, which is producing an innovative shapeable all-solid-state structural supercapacitor.
  • T4i, developing innovative engines to serve small satellite platforms.

ITA and Space Foundation will provide a six-week immersive program focused on the most important aspects of the aerospace industry that will also include business events, networking opportunities, and, ultimately, connect the Houston aerospace community with the Italian startups.

Space It Up will launch its kick-off event at noon on September 1 at Ion Houston, followed by a demo day on September 27. The Demo Day will demonstrate the transformative impact on the aerospace industry by presenting the progress on break-through technologies and projects like the acceleration programs.

The Houston office is one of five ITA offices in the U.S. Other partnerships include Houston-based digital platform leader Village Insights, which will serve as a digital epicenter for Italy’s aerospace companies.

“From the cradle of Renaissance to the frontiers of the cosmos, Italy’s heritage of space innovations knows no bounds,” Keli Kedis Ogborn, Space Foundation vice president of space and entrepreneurship, says in a news release. “With a legacy of scientific advancements, Italy continues to script a new chapter in history, this time with a broader focus on international collaboration and impactful growth to the evolving global space ecosystem.”

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Houston ranks No. 2 for share of AI talent in professional services

AI surge

Houston’s professional and business services sector—think law, accounting, consulting, and engineering firms—grabs one of the industry’s biggest shares of AI talent.

A report from commercial real estate services giant CBRE ranks Houston No. 2 among the top 50 U.S. and Canadian tech markets for the concentration of AI talent in professional and business services.

Houston’s share of AI talent in professional and business services stands at 26 percent, the report shows. Washington, D.C., tops the list at 31 percent. At 25 percent, Dallas-Fort Worth claims the No. 3 spot.

CBRE based the AI ranking on data from the LinkedIn networking platform.

The company’s researchers tallied 11,709 AI-related tech jobs in Houston. Nationwide, data scientists lead AI-related job growth in the U.S., according to the report.

“AI software and hardware developers are currently the most sought-after tech talent by employers,” the report says.

Houston faces AI talent gap

DoubleTrack, a provider of AI and data consulting, reported in June that Houston faces an AI talent gap.

“The places where businesses say they will adopt AI over the next six months, well ahead of where they are today, are mostly the same places already short on talent: Miami, Houston, and Denver among the metros, South Dakota and South Carolina among the states,” DoubleTrack said.

This labor shortage comes amid Houston’s ascent as an AI hub. For instance, a factory being built here by AI chipmaker NVIDIA and electronics manufacturer Foxconn will produce AI supercomputers and infrastructure systems.

Houston’s place in the sphere of tech talent

Overall, Houston ranks No. 32 in the CBRE report among the top 50 U.S. and Canadian markets for tech talent. The San Francisco Bay Area claims the top spot, with Austin at No. 5 and DFW at No. 8.

CBRE relied on 13 metrics to rank tech talent markets, including concentration of tech talent, tech talent pipeline, and research-and-development investments.

Here are other Houston details from the report:

  • In 2025, Houston’s tech talent workforce numbered 104,080, up 7.3 percent over the past three years.
  • Houston’s average wage for tech talent within the tech industry was $120,216 in 2025, up 13.3 percent over the past three years.

New pilot program for air taxis, Project Nexus, takes flight in Texas

Project Nexus

By 2029, Texas skies could be buzzing with air taxis, much like they are with drones today.

To kick off the "Project Nexus" pilot program in Texas, U.S. Transportation Secretary Sean Duffy, U.S. Sen. Ted Cruz, and Texas Department of Transportation officials attended an event September 10 at Fort Worth Alliance Airport, which serves as the launchpad for a statewide pilot program that could result in air taxis, self-piloted planes, and vertical take-off-and-landing aircraft permanently buzzing across the skies of Texas.

It was the first demonstration in Texas of next-generation aircraft under the pilot program; Texas is the sixth state to participate in the program.

Air taxi service on the radar
The federal government has teamed up with aviation companies BETA Technologies and Joby Aviation, as well as the Texas Department of Transportation, to develop regional air taxi service in Dallas, Austin, San Antonio, and eventually Houston.

Roger Venables, Fort Worth’s aviation director, said in January that he foresees regular air taxi service becoming a reality in the next five years.

On September 12, a Joby-made electric air taxi took a roundtrip flight between Fort Worth Alliance and Dallas Fort Worth International Airport to test flight operations.

The mission was part of a five-day test involving Fort Worth Alliance and DFW Airport flights, and flights over the Fort Worth Stockyards, Toyota Motor North America’s Plano headquarters, and other sites.

A new facility at Fort Worth Alliance will be Joby’s long-term home for regional flight operations.

Building a 'framework' for electric aircraft
TxDOT said Project Nexus is aimed at creating “a scalable system” to connect urban areas, rural communities, and neighboring states as air mobility technology advances.

In a TxDOT release, Marc Williams, the agency’s executive director, said the pilot program will “build a framework for how electric aircraft could one day connect people, goods, and communities across the state.”

Three-phase project will test flight capabilities

Initial flights in the third-year pilot program won’t carry passengers, according to TxDOT. Instead, the flights will gather data, validate air travel routes, and help improve the safety of air mobility technology.

The first phase of the U.S. Department of Transportation’s Project Nexus will feature piloted aircraft such as helicopters and fixed-wing planes. CultureMap previously reported Plano-based VertiPorts by Atlantic, which develops takeoff and landing sites for airplane-helicopter hybrids, would be part of Project Nexus.

The second phase will involve testing airborne medical and cargo logistics. This includes transporting critical medical supplies or donor organs between rural and urban hospitals in the Austin and San Antonio areas.

In the third and final phase, passengers will fly aboard air taxis across the Texas Triangle. Dallas-Fort Worth, Austin, Houston, and San Antonio anchor the triangle.

“In Texas, we don’t wait for the future to arrive, we build it,” Cruz said in the TxDOT release. “The Lone Star State is pushing the boundaries by testing the next generation of aircraft through Project Nexus.”

“These technologies will connect communities, expand access to jobs and services, and strengthen supply chains,” the senator added. “What starts in Texas will help shape the future of aviation throughout the entire country.”

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This article originally appeared on CultureMap.com.

Houston-area NASA contractor plans Nasdaq IPO

going public

Webster-based NASA contractor Rothe Development Inc. has filed paperwork with the U.S. Securities and Exchange Commission to go public.

Rothe, a minority- and woman-owned business, hasn’t yet identified how many shares it will sell and how much money its IPO might raise. Rothe plans to offer Class B common stock on the Nasdaq exchange.

CEO Karen Wheeler-Hall owns all of the Class A shares and would retain majority control after the IPO, according to the SEC filing. The company plans to use $2.4 million of the IPO proceeds so Wheeler-Hall can pay off a loan from the seller for her 2021 acquisition of Rothe.

From last December to this May, the company raised about $2.1 million in a pre-IPO private placement at $1 per share, the SEC filing shows.

Rothe runs NASA training lab in Houston

Founded in 1967, Rothe supplies engineering, technology, operations and technical services to NASA, the U.S. Department of Defense, other federal agencies, commercial space operators, and regulated industries.

Rothe is likely best known for operating NASA’s Neutral Buoyancy Laboratory in Houston. The lab trains astronauts for spacewalks and simulates space missions. It supports NASA’s International Space Station and Artemis programs.

Company sees room for growth

In the SEC filing, Rothe said it operates in several expanding markets driven by rising investments, including space exploration, national security, cybersecurity and digital infrastructure.

“We believe these market trends create significant opportunities for continued growth across both government and commercial sectors,” the company said.

Rothe generated nearly $126.4 million in revenue last year, up from $117.3 million the previous year. However, the company swung to a $700,000 operating loss in 2025 versus $1.8 million in operating income in 2024.

At the end of 2025, Rothe’s workforce comprised 385 employees and 25 subcontractors. The company also works in the cybersecurity, computer engineering, software development, multimedia and communication, and commercial calibration sectors, according to its website.

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