3 Houston innovators to know this week

who's who

This week's roundup of Houston innovators includes Armand Paradis of ComboCurve, Matthew Nojoomi of Ictero Medical, and Ryan McCord of McCord Development. Courtesy photos

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from health tech to energy software — recently making headlines in Houston innovation.

Armand Paradis, co-founder of ComboCurve

Armand Paradis joins the Houston Innovators Podcast to discuss how his energy software business is scaling rapidly. Photo courtesy

Houston-based ComboCurve is growing rapidly. The energy software company has raised over $60 million in venture capital investment — $50 million of which was closed in the company’s series B round earlier this year. Since the original product launched in May of 2020, CEO and Co-Founder Armand Paradis says the platform has almost 200 companies on it.

“We built something that resonated with the market — and we were super passionate about the product and taking care of our industry,” Paradis says on the Houston Innovators Podcast. “We don’t want to be the best in oil and gas. We want to be the best software company."Click here to read more.

Matthew Nojoomi, CEO and co-founder of Ictero Medical

This innovative medical device company has closed $6 million for further product development and clinical trials. Image via TMC.edu

Houston-based medical device company Ictero Medical closed its oversubscribed series A at $6 million. The funding round was led by MedTex Ventures, S3 Ventures, and an undisclosed strategic investor. The company's novel cryoablation system was designed to treat high-risk gallstone disease patients and provide a less invasive and lower risk alternative to gallbladder removal surgery — something over 1 million Americans undergo annually.

“Our technology provides an immediate solution for critically ill patients who currently have no good treatment options, and also has the potential to benefit healthier patients who want to avoid surgery,” says Ictero Co-Founder and CEO Matthew Nojoomi in the release. Click here to read more.

Ryan McCord, president of McCord Development

Houston real estate expert shares why he thinks the city is prime for smart city tech and implementation. Photo courtesy

Houston has every tool in its toolkit to be able to emerge as a smart city leader. In a guest column for InnovationMap, Ryan McCord of McCord Development explains the momentum the city already has and the existing smart city opportunities already in town.

"Houston’s diversity, business-friendly environment, and workforce make it a prime candidate to become a smart city. Becoming smarter in our transportation, public safety, sustainability practices, and infrastructure will create a better future for Houstonians." Click here to read more.

This innovative medical device company has closed $6 million for further product development and clinical trials. Image via Getty Images

Houston medical device startup closes $6M series A

money moves

A Houston-based medical device company born out of the Texas Medical Center has closed its series A round of funding.

Ictero Medical's oversubscribed $6 million round was led by MedTex Ventures, S3 Ventures, and an undisclosed strategic investor, according to a news release. The company's novel cryoablation system was designed to treat high-risk gallstone disease patients and provide a less invasive and lower risk alternative to gallbladder removal surgery — something over 1 million Americans undergo annually.

Recently, Ictero Medical entered into a partnership with Houston medical device development firm Biotex. The collaboration provides the company with engineering resources and in-house manufacturing tools. Ictero also received capital support from MedTex Ventures through its Biotex Medical Device Fund.

“We are excited about working with the Ictero team to advance its technology, which we believe can significantly improve patient experiences and outcomes by providing a non-surgical alternative to treating gallbladder disease,” says Biotex CEO Ashok Gowda in the release.

The fresh funds will be put toward further product development and initial clinical testing.

“MedTex Ventures is enthusiastic about Ictero’s novel cryoablation technology and its potential to solve the unmet need of inoperable patients with gallbladder disease,” says John Fichthorn, CIO of MedTex Ventures, in the news release. “Equally important is the team. We believe the combination of Ictero and Biotex’s technical capabilities, alongside the support from key investors with commercial experience, such as S3 Ventures, position the company for long term success.”

Ictero was founded as a part of the Texas Medical Center’s Biodesign Fellowship program in 2018. Since launch, the company has received a Phase I NSF grant and closed a $1 million seed round co-led by the Texas Medical Center Venture Fund and Texas HALO Fund.

“Ictero is at the forefront of pioneering cryotherapy for gallstone disease, and S3 Ventures is excited about the potential for Ictero’s novel solution to rapidly bring an impactful outcome to patients,” says Kim Rodriguez, venture partner at S3, in the release. “Our research suggests a substantial opportunity to help patients suffering from gallstone disease who are dependent on drainage catheters or too sick for surgery. We are joining a solid investment syndicate in supporting a very capable team.”

Four Houston companies showed the city what they're made of at TMCx's recent Demo Day. Courtesy of TMCx

Houston-based medical device companies pitch at TMCx Demo Day

Local legends

Earlier this month, 16 medical device companies wrapped up their time at the Texas Medical Center's accelerator program and pitched their companies to fellow health professionals, guests, and more. While each made important connections in the local ecosystem during the program, a quarter of the entrepreneurs had roots in Houston already.

Four of the 16 TMCx09 companies that are headquartered in Houston. They have built solutions within sepsis, surgery, and transplant spaces in health care. Here's a little more about the homegrown companies that pitched at the event.

CorInnova

Photo via corinnova.com

The standard practice for acute heart failure patients is very invasive, says William Altman, CEO of CorInnova.

"The problem with existing devices is that they have invasive blood contact," Altman says. "Problem with that is blood contact is bad. It can cause up to 15 percent rate of stroke, which could kill you, and after five to seven days it provides 10 percent rate of blood destruction and has a 47 percent rate of kidney disfunction."

CorInnova's technology features a device that can be easily inserted through a 1-inch incision, and then be used for increase blood pumping by 50 percent.

"Surgeons tell us this is less invasive than minimally invasive aortic valve replacement, which is a widely done surgery, so this promises widespread adoption for our technology as we get it approved," Altman says.

The human prototype is expected to be ready in two years, with the next year being focused on animal studies. CorInnova is raising $12 million to accomplish its goals.

Ictero Medical

Getty Images

An estimated 10 to 15 percent of the United States population will get a gallstone in their lifetime. Should one of those stones cause trouble or blockages, the only solution is to remove the gallbladder completely through surgery. However, Matthew Nojoomi, CEO and co-founder of Ictero Medical, has another idea.

Ictero Medical has created a minimally invasive treatment that uses cryoablation to defunctionize the gallbladder without having to remove it.

"The CholeSafe System not only treats the source of the disease, but it leverages existing clinical workflows that doctors use to access the gallbladder," says Nojoomi, adding that the process only uses mild station and pain control.

The company expects to get to humans in the next two years, and has launched a financing round.

PATH EX

Photo via tmc.com

Currently, sepsis is hard to identify in patience. Even if a patient is in a hospital, and that hospital knows the patient has sepsis, the individual still has a 38 percent chance of dying, says Sinead Miller, CEO of PATH EX.

"Right now the problems associated with sepsis are very clear," she says. "It's the leading cause of death in our ICUs, and it's also associated with the highest hospital cost and readmission rates."

PATH EX's technology allows medical professionals to better diagnose and treat sepsis. The PATH EX therapeutic device can be hooked up to a patient and flow his or her blood through the machine to capture bacteria, clean and recirculate the blood, and faster diagnose what sort of bacteria the patient has attracted. The device technology is similar to hemo hemodialysis, Miller explains.

The Houston company, which recently won big at the Ignite Healthcare Network's Fire Pitch Competition, was named an honoree within the Johnson and Johnson Breakthrough Medical Technologies Quickfire Challenge.

The company was recently received clearance from the Food and Drug Administration as a breakthrough device technology. PATH EX closed its $615,000 seed round — with plans for a series A next year — and has received $1 million in SBIR grant funding. The company was founded two years ago, and relocated to call Houston HQ this year.

Volumetric

Jordan Miller/Rice University

Volumetric is banking on their technology being among the inventions that will lead the medical industry into the future. The human tissue-printing technology company has created the 3D printer and the "ink" that can create whole organs for transplant.

"We can create complicated vascular architectures inside of soft water-based gels, in this case, mimicking the structure and function of human lung tissue," says Jordan Miller, CEO. "We can oxygenate red blood cells."

The company is commercializing its technology and has three streams of revenue, which as generated almost $1 million in revenue in Volumetric's second year. The company is also in the process of closing its seed round of fundraising.

Earlier this year, the startup, which works out of Rice University, was featured on the cover of Science magazine.

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2 Houston space tech cos. celebrate major tech milestones

big wins

Two Houston aerospace companies — Intuitive Machines and Venus Aerospace — have reached testing milestones for equipment they’re developing.

Intuitive Machines recently completed the first round of “human in the loop” testing for its Moon RACER (Reusable Autonomous Crewed Exploration Rover) lunar terrain vehicle. The company conducted the test at NASA’s Johnson Space Center.

RACER is one of three lunar terrain vehicles being considered by NASA for the space agency’s Artemis initiative, which will send astronauts to the moon.

NASA says human-in-the-loop testing can reveal design flaws and technical problems, and can lead to cost-efficient improvements. In addition, it can elevate the design process from 2D to 3D modeling.

Intuitive Machines says the testing “proved invaluable.” NASA astronauts served as test subjects who provided feedback about the Moon RACER’s functionality.

The Moon RACER, featuring a rechargeable electric battery and a robotic arm, will be able to accommodate two astronauts and more than 880 pounds of cargo. It’s being designed to pull a trailer loaded with more than 1,760 pounds of cargo.

Another Houston company, Venus Aerospace, recently achieved ignition of its VDR2 rocket engine. The engine, being developed in tandem with Ohio-based Velontra — which aims to produce hypersonic planes — combines the functions of a rotating detonation rocket engine with those of a ramjet.

A rotating detonation rocket engine, which isn’t equipped with moving parts, rapidly burns fuel via a supersonic detonation wave, according to the Air Force Research Laboratory. In turn, the engine delivers high performance in a small volume, the lab says. This savings in volume can offer range, speed, and affordability benefits compared with ramjets, rockets, and gas turbines.

A ramjet is a type of “air breathing” jet engine that does not include a rotary engine, according to the SKYbrary electronic database. Instead, it uses the forward motion of the engine to compress incoming air.

A ramjet can’t function at zero airspeed, so it can’t power an aircraft during all phases of flight, according to SKYbrary. Therefore, it must be paired with another kind of propulsion, such as a rotating detonation rocket engine, to enable acceleration at a speed where the ramjet can produce thrust.

“With this successful test and ignition, Venus Aerospace has demonstrated the exceptional ability to start a [ramjet] at takeoff speed, which is revolutionary,” the company says.

Venus Aerospace plans further testing of its engine in 2025.

Venus Aerospace, recently achieved ignition of its VDR2 rocket engine. Photo courtesy of Venus Aerospace

METRO rolls out electric shuttles for downtown Houston commuters

on a roll

The innovative METRO microtransit program will be expanding to the downtown area, the Metropolitan Transit Authority of Harris County announced on Monday.

“Microtransit is a proven solution to get more people where they need to go safely and efficiently,” Houston Mayor John Whitmire said in a statement. “Connected communities are safer communities, and bringing microtransit to Houston builds on my promise for smart, fiscally-sound infrastructure growth.”

The program started in June 2023 when the city’s nonprofit Evolve Houston partnered with the for-profit Ryde company to offer free shuttle service to residents of Second and Third Ward. The shuttles are all-electric and take riders to bus stops, medical buildings, and grocery stores. Essentially, it works as a traditional ride-share service but focuses on multiple passengers in areas where bus access may involve hazards or other obstacles. Riders access the system through the Ride Circuit app.

So far, the microtransit system has made a positive impact in the wards according to METRO. This has led to the current expansion into the downtown area. The system is not designed to replace the standard bus service, but to help riders navigate to it through areas where bus service is more difficult.

“Integrating microtransit into METRO’s public transit system demonstrates a commitment to finding innovative solutions that meet our customers where they are,” said METRO Board Chair Elizabeth Gonzalez Brock. “This on-demand service provides a flexible, easier way to reach METRO buses and rail lines and will grow ridership by solving the first- and last-mile challenges that have hindered people’s ability to choose METRO.”

The City of Houston approved a renewal of the microtransit program in July, authorizing Evolve Houston to spend $1.3 million on it. Some, like council member Letitia Plummer, have questioned whether microtransit is really the future for METRO as the service cuts lines such as the University Corridor.

However, the microtransit system serves clear and longstanding needs in Houston. Getting to and from bus stops in the city with its long blocks, spread-out communities, and fickle pedestrian ways can be difficult, especially for poor or disabled riders. While the bus and rail work fine for longer distances, shorter ones can be underserved.

Even in places like downtown where stops are plentiful, movement between them can still involve walks of a mile or more, and may not serve for short trips.

“Our microtransit service is a game-changer for connecting people, and we are thrilled to launch it in downtown Houston,” said Evolve executive director Casey Brown. “The all-electric, on-demand service complements METRO’s existing fixed-route systems while offering a new solution for short trips. This launch marks an important milestone for our service, and we look forward to introducing additional zones in the new year — improving access to public transit and local destinations.”

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This article originally ran on CultureMap.

Cart.com's M&A move, energy innovators recognized, and more top articles from the week

trending news

Editor's note:Let's roundup the most-read Houston innovation news from the week. Trending Houston tech and startup articles from InnovationMap and its daily newsletter included a new health tech grant for Houston researchers, Cart.com's latest acquisition, and more.

Houston med school lands $3.5M grant to rollout genetic telehealth platform for underserved newborns

Baylor College of Medicine received $3.5 million to expand its telehealth platform to improve genomic diagnostics and care for critically ill newborns in underserved neonatal intensive care units in West and South Texas. Photo by Tim Bish on Unsplash

Baylor College of Medicine received $3.5 million to help hospitals in Texas better care for and diagnose some of the state's most vulnerable patients.

The funds come from the National Human Genome Research Institute for the Making Genomics Accessible to Newborns in Texas, or MAGNET, program. They'll be used to adapt BCM's Consultagene telehealth platform to be used in underserved neonatal intensive care units in West and South Texas, according to a statement.

Families in this region of the state currently can travel up to 300 miles to reach the nearest in-state geneticist, according to MAGNET. The program aims to help close that gap through BCM's established remote consultation service. Investigators also plan to create educational videos in English and Spanish to educate providers and patient caregivers on genetic diagnoses.

“Only 20 years ago, less than 3 percent of genetic conditions in newborns could be molecularly diagnosed,” Dr. Brendan Lee, co-principal investigator and professor and chair of the Department of Molecular and Human Genetics and Robert and Janice McNair Endowed Chair in Molecular and Human Genetics at BCM, says in a statement. Continue reading.

Houston e-commerce platform expands logistics network with acquisition of fulfillment operations arm

Cart.com has acquired OceanX, adding two new facilities and expanding its logistics network to enhance efficiency and support high-volume beauty, wellness, and lifestyle brands. Photo courtesy of Cart.com

A Houston e-commerce unicorn has made its latest strategic acquisition.

Cart.com, which operates a multichannel commerce platform, announced that it has acquired Guthy-Renker's wholly-owned fulfillment operations arm OceanX. The terms of the deal were not disclosed. Around 200 OceanX employees will be assumed onto the Cart.com team, and the fast-growing company will add two new facilities totaling over 600,000 square feet to its network, expanding to include a West Coast distribution hub in Southern California and its third facility near Columbus, Ohio.

"Acquiring OceanX is part of Cart.com’s strategy to continue to scale our platform and capabilities across industries, leveraging our proprietary technology to improve efficiency and deliver superior results to our clients and their customers,” Omair Tariq, Cart.com founder and CEO, says in a news release. “By deploying our Constellation OMS and WMS software and seasoned operations team across these two new facilities, we will improve order visibility, labor efficiency, shipping costs and customer satisfaction for the benefit of our new clients.” Continue reading.

3 clean energy innovators make Forbes list of top young energy professionals

Three young professionals have made the cut for this year's Forbes Under 30 list in the Energy and Green Tech list for 2025. Photos via Forbes

A handful of Houstonians have been named to the Forbes 30 Under 30 Energy and Green Tech list for 2025.

Kip Daujotas is an investment associate at Aramco Ventures, a $7.5 billion venture capital arm of the world's largest energy company. Houston is the Americas headquarters for Saudi Aramco. Since its inception in 2012, Aramco Ventures has invested in more than 100 tech startups. Daujotas joined the team over two years ago after studying for an MBA at Yale University. He led Aramco’s first direct air capture (DAC) investment — in Los Alamos, New Mexico-based Spiritus.

Also representing the corporate side of the industry, Wenting Gao immigrated from Beijing to obtain an economics degree from Harvard University, then got a job at consulting giant McKinsey, where she recently became the firm’s youngest partner. Gao works on bringing sustainability strategies to energy and materials companies as well as investors. Her areas of expertise include battery materials, waste, biofuels, and low-carbon products.

Last but not least, Houston entrepreneur Rawand Rasheed is co-founder and CEO of Houston-based Helix Earth. He co-founded the startup after earning a doctoral degree from Rice University and co-inventing Helix’s core technology while at NASA, first as a graduate research fellow and then as an engineer. The core technology, a space capsule air filtration system, has been applied to retrofitting HVAC systems for commercial buildings. Continue reading.

Rice University, Houston Methodist launch new institute to revolutionize health care through AI, innovation

Rice University and Houston Methodist have partnered to create the Digital Health Institute, combining advanced technology, artificial intelligence, and interdisciplinary expertise to transform health care. Photos courtesy

Rice University and Houston Methodist have established through a multi-year joint effort the Digital Health Institute, which aims to transform healthcare through advanced technology and the collaborative expertises of the university and hospital.

Rice’s leadership in engineering, digital health and artificial intelligence will combine with Houston Methodist’s academic medicine and research infrastructure.

“This partnership embodies Rice’s bold vision to lead at the forefront of innovation in health and responsible AI,” Rice President Reginald DesRoches says in a news release. “By combining our strengths with Houston Methodist, we are creating a transformative platform to address critical challenges in healthcare with solutions that are ethical, accessible and impactful. This initiative exemplifies our commitment to driving interdisciplinary collaboration and advancing global health for the benefit of humanity.” Continue reading.

2 Houston professors named as fellows for prestigious group of inventors

Omid Veiseh from Rice University and Edward Ratner from the University of Houston have been named 2024 National Academy of Inventors fellows for their innovative contributions. Courtesy photos

The highest professional distinction awarded to academic inventors, the National Academy of Inventors, have elected two fellows from Rice University and the University of Houston for its 2024 class.

Edward Ratner, computer information systems lecturer in the Department of Information Science Technology at the University of Houston’s Cullen College of Engineering, and Omid Veiseh, bioengineer at Rice University and director of the Biotech Launch Pad, were two of the 170 honorees representing 39 states and 12 countries.

The 2024 class will be honored and presented their medals on June 26 in Atlanta, Georgia by a senior official of the U.S. Patent and Trademark Office. Continue reading.

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