3 Houston innovators to know this week

who's who

This week's roundup of Houston innovators includes Lori-Lee Elliott of Dauntless XR, Sandip Bordoloi of TrueLeap, and Stephanie Nolan of Square Robot. Photos courtesy

Editor's note: Every Monday, I'm introducing you to three Houston innovators to know — three individuals behind recent innovation and startup news stories in Houston as reported by InnovationMap. Learn more about them and their recent news below by clicking on each article.

Lori-Lee Elliott, CEO and co-founder of Dauntless XR

Lori-Lee Elliott of Dauntless XR joins the Houston Innovators Podcast to share about her tech company's evolution. Photo via LinkedIn

As Lori-Lee Elliott was building out her company — an augmented reality software company to enhance industrial workflow — she was approached by a representative in the Air Force interested in her technology. That conversation would end up leading to a major rebrand and pivot, as well as multiple federal contracts and grants for the Houston startup.

Dauntless XR — originally founded as Future Sight AR in 2018 — has two software platforms that bring customers flexible mixed reality solutions. The Air Force uses the Aura platform to create 3D replays of missions, while NASA plans to utilize the technology for analyzing space weather data.

"Something that we realized when we built out this platform is that it doesn't have to be for just one thing," Elliott says on the Houston Innovators Podcast. "We can make it ingest all kind of data sources. It does require us as the developers and the architects to go in and learn about each application. And that's great because I get bored easily and it's an endless source of fascination." Continue reading.

Sandip Bordoloi, CEO and co-founder of TrueLeap

TrueLeap Inc., global digital education startup addressing the digital divide in education, has raised $610,000. Photo via LinkedIn

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. Continue reading.

Stephanie Nolan, director of sales at Square Robot

It's a different world for startups on the other side of the pandemic — especially for business development. One Houston innovator shares her lessons learned. Photo courtesy of Square Robot

The post-pandemic world of business development has evolved, as Stephanie Nolan, director of sales at Square Robot, has observed. In a guest column for InnovationMap, she shares her experience and lessons learned.

"When I joined the Houston team at Square Robot, a startup that was trying to disrupt an industry, I had to learn how to navigate a post-pandemic sales world — where hybrid work, reliance on emails, and video based web calls are now the norm — coupled with the challenges of working for a relatively new company," she writes.

She shares how she prioritizes in-person meetings and taps into important networking organizations. Continue reading.

Lori-Lee Elliott of Dauntless XR joins the Houston Innovators Podcast to share about her tech company's evolution. Photo via LinkedIn

Houston innovator tackles rebrand, federal grant programs to take XR startup into its new era

HOUSTON INNOVATORS PODCAST EPISODE 221

As Lori-Lee Elliott was building out her company — an augmented reality software company to enhance industrial workflow — she was approached by a representative in the Air Force interested in her technology. That conversation would end up leading to a major rebrand and pivot, as well as multiple federal contracts and grants for the Houston startup.

Dauntless XR — originally founded as Future Sight AR in 2018 — has two software platforms that bring customers flexible mixed reality solutions. The Air Force uses the Aura platform to create 3D replays of missions, while NASA plans to utilize the technology for analyzing space weather data.

"Something that we realized when we built out this platform is that it doesn't have to be for just one thing," Elliott says on the Houston Innovators Podcast. "We can make it ingest all kind of data sources. It does require us as the developers and the architects to go in and learn about each application. And that's great because I get bored easily and it's an endless source of fascination."



After entering into these new industries — as well as a 2022 strategic acquisition — Elliott says her team started thinking hard about a rebrand, specifically to set the business up for success as it expands into new fields and opportunities.

"We wanted something that was a name that was a little bit more future proof," Elliott says on the show. "We wanted something that was more representative of this new thing that we had evolved into, and then also something that was going to stand the test of time going forward. We actually really enjoyed the rebrand process."

While Elliott had to learn how to navigate a rebrand, she also juggled the grant and contract process with federal entities — something else that was new to her. Dauntless XR has secured both SBIR and STTR grants and contracts with two different federal agencies, so Elliott has learned a lot.

"The lesson learned I would say is if you're interested in pursuing (grants), go and get all of your government registrations and certifications before you start," Elliott says. "They have fairly quick close deadlines, so when an opportunity opens to when it closes is usually a month. And that is not enough time to register your company at all of the different places it needs to be registered."

She shares more about what she's learned through the past few years or so, as well as what's next for Dauntless XR on the podcast.

A Houston company's technology will help space operators predict coronal mass ejections. Photo via nasa.gov

Houston extended reality company pivots, secures NASA contract

space tech

Following a rebrand, a Houston tech startup has secured a NASA contract for space weather technology.

Dauntless XR received a contract from NASA to advance its spatial computing platform, Aura. The technology uses satellite sensor data and mixed reality to help space operators with weather forecasting, including solar activity.

The company, which was founded by Lori-Lee Elliott as Future Sight AR in 2018 to focus on industrial construction, made a pivot to the space and defense industries and rebranded last year.

"We are in an incredibly interesting stage of space exploration, between record-breaking numbers of satellite launches, missions to the moon and Mars, and even returning asteroid samples to Earth," says Elliott, who serves as CEO, in the release. "With space weather, we are presented with an opportunity to make incredibly complex data easily accessible and provide a platform for innovation — and collaboration — for the space economy and space exploration."

The company is tasked with an extended reality space weather application. Per the release, the app will first be available on the Apple Vision Pro and the Meta Quest devices.

"Our first release will include a special edition of our Aura application with a 3D immersive experience visualizing coronal mass ejections, or CMEs, coming off the sun," the company explains in a blog post. "When a CME hits Earth, it produces auroras, but can also cause power outages, knock out radio signals & GPS, and interfere with rocket launches. As the space economy grows and more people use space data, we hope that our apps make that data easy to access and understand."

The company has also received $1.5 million in United States Air Force contracts. This included two SBIR II contracts that "focused on mixed reality assisted workflows, training and mission planning," according to Dauntless XR. Elliott is based in Houston and the company has offices in Texas, Georgia, Florida, and Hawaii.

Lori-Lee Elliott founded Dauntless XR. Photo via LinkedIn

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Houston unicorn closes $421M to fuel first phase of flagship energy project

Heating Up

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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This article first appeared on EnergyCapitalHTX.com.

Houston food giant Sysco to acquire competitor in $29 billion deal

Mergers & Acquisitions

Sysco, the nation's largest food distributor, will acquire supplier Restaurant Depot in a deal worth more than $29 billion.

The acquisition would create a closer link between Sysco and its customers that right now turn to Restaurant Depot for supplies needed quickly in an industry segment known as “cash-and-carry wholesale.”

Sysco, based in Houston, serves more than 700,000 restaurants, hospitals, schools, and hotels, supplying them with everything from butter and eggs to napkins. Those goods are typically acquired ahead of time based on how much traffic that restaurants typically see.

Restaurant Depot offers memberships to mom-and-pop restaurants and other businesses, giving them access to warehouses stocked with supplies for when they run short of what they've purchased from suppliers like Sysco.

It is a fast growing and high-margin segment that will likely mean thousands of restaurants will rely increasingly on Sysco for day-to-day needs.

Restaurant Depot shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares. Based on Sysco’s closing share price of $81.80 as of March 27, 2026, the deal has an enterprise value of about $29.1 billion.

Restaurant Depot was founded in Brooklyn in 1976. The family-run business then known as Jetro Restaurant Depot, has become the nation's largest cash-and-carry wholesaler.

The boards of both companies have approved the acquisition, but it would still need regulatory approval.

Shares of Sysco Corp. tumbled 13% Monday to $71.26, an initial decline some industry analysts expected given the cost of the deal.

Houston researcher builds radar to make self-driving cars safer

eyes on the road

A Rice University researcher is giving autonomous vehicles an “extra set of eyes.”

Current autonomous vehicles (AVs) can have an incomplete view of their surroundings, and challenges like pedestrian movement, low-light conditions and adverse weather only compound these visibility limitations.

Kun Woo Cho, a postdoctoral researcher in the lab of Rice professor of electrical and computer engineering Ashutosh Sabharwal, has developed EyeDAR to help address such issues and enhance the vehicles’ sensing accuracy. Her research was supported in part by the National Science Foundation.

The EyeDAR is an orange-sized, low-power, millimeter-wave radar that could be placed at streetlights and intersections. Its design was inspired by that of the human eye. Researchers envision that the low-cost sensors could help ensure that AVs always pick up on emergent obstacles, even when the vehicles are not within proper range for their onboard sensors and when visibility is limited.

“Current automotive sensor systems like cameras and lidar struggle with poor visibility such as you would encounter due to rain or fog or in low-lighting conditions,” Cho said in a news release. “Radar, on the other hand, operates reliably in all weather and lighting conditions and can even see through obstacles.”

Signals from a typical radar system scatter when they encounter an obstacle. Some of the signal is reflected back to the source, but most of it is often lost. In the case of AVs, this means that "pedestrians emerging from behind large vehicles, cars creeping forward at intersections or cyclists approaching at odd angles can easily go unnoticed," according to Rice.

EyeDAR, however, works to capture lost radar reflections, determine their direction and report them back to the AV in a sequence of 0s and 1s.

“Like blinking Morse code,” Cho added. “EyeDAR is a talking sensor⎯it is a first instance of integrating radar sensing and communication functionality in a single design.”

After testing, EyeDAR was able to resolve target directions 200 times faster than conventional radar designs.

While EyeDAR currently targets risks associated with AVs, particularly in high-traffic urban areas, researchers also believe the technology behind it could complement artificial intelligence efforts and be integrated into robots, drones and wearable platforms.

“EyeDAR is an example of what I like to call ‘analog computing,’” Cho added in the release. “Over the past two decades, people have been focusing on the digital and software side of computation, and the analog, hardware side has been lagging behind. I want to explore this overlooked analog design space.”

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