Rice biotech studio secures investment from Modi Ventures, adds founder to board

fresh funding

RBL LLC has landed an investment from Houston-based Modi Ventures and named its founder, Sahir Ali (far left), to its board. Photo courtesy Rice University Biotech Launch Pad via LinkedIn

RBL LLC, which supports commercialization for ventures formed at the Rice University Biotech Launch Pad, has secured an investment from Houston-based Modi Ventures.

Additionally, RBL announced that it has named Sahir Ali, founder and general partner of Modi Ventures, to its board of directors.

Modi Ventures invests in biotech companies that are working to advance diagnostics, engineered therapeutics and AI-driven drug discovery. The firm has $134 million under management after closing an oversubscribed round this summer.

RBL launched in 2024 and is based out of Houston’s Texas Medical Center Helix Park. William McKeon, president and CEO of the TMC, previously called the launch of RBL a “critical step forward” for Houston’s life sciences ecosystem.

“RBL is dedicated to building companies focused on pioneering and intelligent bioelectronic therapeutics,” Ali said in a LinkedIn post. “This partnership strengthens the Houston biotech ecosystem and accelerates the transition of groundbreaking lab discoveries into impactful therapies.”

Ali will join board members like managing partner Paul Wotton, Rice bioengineering professor Omid Veiseh, scientist and partner at KdT Ventures Rima Chakrabarti, Rice alum John Jaggers, CEO of Arbor Biotechnologies Devyn Smith, and veteran executive in the life sciences sector James Watson.

Ali has led transformative work and built companies across AI, cloud computing and precision medicine. Ali also serves on the board of directors of the Drug Information Association, which helps to collaborate in drug, device and diagnostics developments.

“This investment by Modi Ventures will be instrumental to RBL’s growth as it reinforces confidence in our venture creation model and accelerates our ability to develop successful biotech startups,” Wotton said in the announcement. "Sahir’s addition to the board will also amplify this collaboration with Modi. His strategic counsel and deep understanding of field-defining technologies will be invaluable as we continue to grow and deliver on our mission.”

From Your Site Articles

This week's roundup of Houston innovators includes Tim Neal of AmPd Labs, Sandy Guitar of HX Venture Fund, and Sahir Ali of Modi Ventures. Photos courtesy

3 Houston innovators to know this week

who's who

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

Tim Neal, CEO of AmPd Labs

Tim Neal is the new CEO of AmPd Labs, a unique additive manufacturing startup in Houston. Photo via LinkedIn

Houston entrepreneur Tim Neal joined next-generation additive manufacturing company AmPd Labs as CEO of the company. He tells InnovationMap that he'd always been interested in the additive manufacturing sector, and sees a lot of potential for AmPd Labs in the industrial world in Houston — now more than ever.

“Within additive manufacturing, a lot of people focus on the medical and the aerospace sectors, but the industrial sector has been largely overlooked. Being in Houston, that really resonates,” Neal says. “The technology is now at a place that it can be at this production scale.” Read more.

Sandy Guitar, general partner of HX Venture Fund

Sandy Guitar shares some lessons learned from the fallout of Silicon Valley Bank. Photo via HXVF

In its third year, Venture Houston — taking place on Rice University's campus on September 7 — has a theme of "decarbonization in a digital world," but that's not the only thing different this year. The one-day conference has added on a unique event on September 6 to help engage around 50 investors with over 100 Houston startups.

The new activation is called Capital Connect, and HX Venture Fund will matchmake investors and startups for one-on-one meetings meant to spur collisions and collaboration.

"It's not a pitch competition — it doesn't have the stress of that," Sandy Guitar, general partner of HX Venture Fund, tells InnovationMap. "It's really just a way of connecting with a longer term horizon. We didn't want to limit it just to those who are currently raising, but actually include people who maybe just raised six months ago or are not going to raise for 12 more months, but might still want to be in the room." Read more.

Sahir Ali, founder and general partner of Modi Ventures

Sahir Ali is the founder and general partner of Modi Ventures. Photo courtesy of Modi Ventures

It might be cool to arrive fashionably late to a party, but Houston investor Sahir Ali likes to be early when it comes to new technologies.

"What has been a part of my success and has driven a lot of my profesional, scientific, and financial growth has been being ahead of the curve a little bit in technologies. That is really the basis of the fund," Ali, founder and general partner of Modi Ventures, says on the Houston Innovators Podcast.

"Hardware and software have come to a point where now artificial intelligence is ready to go, and I think the biggest benefactor of that is going to be health care and the health and medicine space — and that space is not easy for investors to just jump in right away," he continues. Read more.

Sahir Ali is the founder and general partner of Modi Ventures. Photo courtesy of Modi Ventures

How this Houston investor closed a $32M oversubscribed fund in less than a month

Houston innovators podcast episode 201

It might be cool to arrive fashionably late to a party, but Houston investor Sahir Ali likes to be early when it comes to new technologies.

That's why Ali decided to start his own firm, Modi Ventures, with his brother, Amir. The two have invested in a family office capacity before, but raising the initial fund for Modi Ventures was a whole different story. With his background in research, cloud computing, AI, finance, and more across the country, Ali set up the fund in the Houston area where he's from.

"When I see Houston market — and Texas in general — you won't see a lot of funds raising in Houston. ... It's not New York or California where folks do go after a lot of LPs," Ali says. "There are folks who have the appetite, but they are hard to reach."

"The structure that made sense for Houston had to be access that just wasn't available."

From ideation to launch, Ali proceeded to raise the initial fund in one month, accumulating an oversubscribed amount of $32 million. He credits to this in part to the fact that he's the fund's first investor, indicating to other limited partners that he's got skin in the game. He says he also wanted have a very open door with LPs.

"The thing I noticed when a lot of funds pitched to me as a potential LP is that there's a lot of vagaries and a black box effect in VC," he says. "My process was to incorporate transparency and education."

Now with its Tech+Bio Fund I closed, Modi Ventures has already deployed capital to three startups: Amsterdam-based Lapsi Health, Houston-based Starling Medical, and Boston-based Cyberdontics.

But Modi doesn't just invest in startups. The fund is a bit of a hybrid in that it also invests as an LP into other funds. The throughline is that the funds Modi Ventures invests in — as well as the startups — sit at the intersection of AI and health care. The first fund relationships Ali has entered into include Khosla Ventures, Draper Associates, Artis Ventures, and Antler Group — funds that have proven their success in this emerging field.

Ali shares more about why he's focused on this unique tech bio space on the podcast. Listen to the interview here — or wherever you stream your podcasts — and subscribe for weekly episodes.

A new Houston firm has closed its inaugural fund to invest in health tech. Photo via Getty Images

New Houston investment firm closes $32M fund, announces 3 portfolio companies

money moves

A new firm has emerged to invest in early-stage tech bio, artificial intelligence, and life sciences.

Modi Ventures announced its inaugural fund, Tech+Bio Fund I, closed at $32 million, an oversubscribed amount. The fund targets companies "shaping the future of humanity," reads a press release from Modi.

“Investing in next generation technologies has always been very lucrative,” says Sahir Ali, general partner of Modi Ventures, in the release. “We are entering an era of software writing software (artificial intelligence), technology that can unravel our individual genetic makeup (gene sequencing), biotech that can reprogram our genes (gene editing), and a fundamental change in how medicine is practiced by leveraging all of the above (precision medicine).

"Tech Bio companies will revolutionize multiple trillion dollar industries, providing early investors with potential for great returns,” he continues.

Ali, who's career has been focused on and the intersection of oncology and AI, has a Ph.D. and has worked with Fortune 500 companies across industries. He's joined by Andrew Yang, former presidential candidate and founder of Venture for America, as an adviser.

“Modi Ventures’ goal is to find solutions for some of the world’s most vexing problems that keep people unhealthy or struggling with illnesses that we can address collectively,” Yang says in the release. “The leadership and results that Sahir and his team have already demonstrated are one reason I’m looking forward to being a part of this team as we bring life saving solutions to market and take advantage of AI and new tools to advance the human condition.”

The first three portfolio companies Modi has announced include:

Amsterdam-based Lapsi Health, a medical technology company that is screening, diagnosing, treating and monitoring in medicine through sound and auscultation (acquired from stethoscopes).
Starling Medical, a Houston-based predictive technology platform for the early detection of bladder health issues.
Cyberdontics, an automated dental surgery using advanced imaging, AI, and robotics, that's based in Boston.

The firm announced that it has created partnerships with other investors, including Modi Ventures Khosla Ventures, Section 32, Artis Ventures, Draper Associates, and Antler Group.

“Modi Ventures is investing in healthcare tech companies with immense potential to improve lives and I'm thrilled to be partnering with Sahir and Modi Ventures,” says Tim Draper, founder of Draper Associates, in the release. “Working together we will be able to discover unique and innovative investments to collaborate on.”

Sahir Ali is the general partner of Modi Ventures. Photo courtesy of Modi Ventures

Ad Placement 300x100

Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Intuitive Machines to buy satellite maker Lanteris for $800M

space deal

Houston-based aerospace company Intuitive Machines has agreed to buy satellite manufacturer Lanteris Space Systems for $800 million from private equity firm Advent International.

Intuitive Machines co-founder, president and CEO Steve Altemus said the combined revenue of his company and Palo Alto, California-based Lanteris exceeded $850 million as of Sept. 30, and their backlog of orders totaled $920 million.

Until recently, Lanteris operated as Maxar Space Systems. Its origins date back to 1957.

The deal—comprising $450 million in cash and $350 million in Class A shares of Intuitive Machines stock—is expected to close in the first quarter of 2026.

The acquisition “marks the moment Intuitive Machines transitions from a lunar company to a multi-domain space [company], setting the pace for how the industry’s next generation will operate,” Altemus said.

Altemus said the acquisition would enable Intuitive Machines to better compete for Earth orbit, lunar, Mars and deep space projects. Among the opportunities that would open up thanks to the Lanteris deal are the proposed Golden Dome missile defense system and a large lunar lander capable of carrying astronauts, he said.

“The new Intuitive Machines will combine rapid innovation and precision spacecraft production to meet the growing demand for responsive, high-reliability space infrastructure and services,” Altemus said.

Intuitive Machines, founded in 2013, develops lunar landers and provides aerospace services. In 2024, it became the first U.S. company to land a spacecraft on the moon in half a century.

Altemus said Intuitive Machines is already building three satellites for NASA’s near-space network, and it might upsize two more satellites now that it plans to buy Lanteris.

Aside from satellites, Lanteris is developing the power and propulsion element for NASA’s Gateway, a lunar orbiting command module that will support Artemis missions and deep space exploration.

Lanteris was a division of Maxar Technologies, which Advent and minority investor British Columbia Investment Management took private in a 2023 deal valued at $6.4 billion

Meet 6 mentors who are helping the Houston startup scene flourish

meet the finalists

Few founders launch successful startups alone — experienced and insightful mentors often play an integral role in helping the business and its founders thrive.

The Houston startup community is home to many mentors who are willing to lend an ear and share advice to help entrepreneurs meet their goals.

The Mentor of the Year category in our 2025 Houston Innovation Awards will honor an individual like this, who dedicates their time and expertise to guide and support budding entrepreneurs. The award is presented by Houston City College Northwest.

Below, meet the six finalists for the 2025 award. They support promising startups in the medical tech, digital health, clean energy and hardware sectors.

Then, join us at the Houston Innovation Awards this Thursday, Nov. 13 at Greentown Labs, when the winner will be unveiled. The event is just days away, so secure your seats now.

Anil Shetty, InformAI

Anil Shetty serves as president and chief medical officer for biotech company Ferronova and chief innovation officer for InformAI. He's mentored numerous medical device and digital health companies at seed or Series A, including Pathex, Neurostasis, Vivifi Medical and many others. He mentors through organizations like Capital Factory, TMC Biodesign, UT Venture Mentoring, UTMB Innovation and Rice's Global Medical Innovation program.

"Being a mentor means empowering early-stage innovators to shape, test, and refine their ideas with clarity and purpose," Shetty says. "I’m driven by the opportunity to help them think strategically and pivot early before resources are wasted. At this critical stage, most founders lack the financial means to bring on seasoned experts and often haven’t yet gained real-world exposure. Mentorship allows me to fill that gap, offering guidance that accelerates their learning curve and increases the chances of meaningful, sustainable impact."

Jason Ethier, EnergyTech Nexus

Jason Ethier is the founding partner of EnergyTech Nexus, through which he has mentored numerous startups and Innovation Awards finalists, including Geokiln, Energy AI Solutions, Capwell Services and Corrolytics. He founded Dynamo Micropower in 2011 and served as its president and CEO. He later co-founded Greentown Labs in Massachusetts and helped bring the accelerator to Houston.

"Being a mentor means using my experience to help founders see a clearer path to success. I’ve spent years navigating the ups and downs of building companies, struggling with cash flow, and making all the mistakes; mentoring gives me the chance to share those lessons and show entrepreneurs the shortcuts I wish I’d known earlier," Ethier says. "At Energytech Nexus, that role goes beyond just helping individual founders — it’s about creating a flywheel effect for Houston’s entire innovation ecosystem."

Jeremy Pitts, Activate Houston

Jeremy Pitts serves as managing director of Activate Houston, which launched in Houston last year. He was one of the founders of Greentown Labs in the Boston area and served in a leadership role for the organization between 2011 and 2015. Through Activate, he has mentored numerous impactful startups and Innovation Awards finalists, including Solidec, Coflux Purification, Bairitone Health, Newfound Materials, Deep Anchor Solutions and others.

"Being a mentor to me is very much about supporting the person in whatever they need. Oftentimes that means supporting the business—providing guidance and advice, feedback, introductions, etc," But just as important is recognizing the person and helping them with whatever challenges they are going through ... Sometimes they need a hype man to tell them how awesome they are and that they can go do whatever hard thing they need to do. Sometimes they just need an empathetic listener who can relate to how hard these things are. Being there for the person and supporting them on their journey is key to my mentorship style."

Joe Alapat, Liongard

Joe Alapat founded and serves as chief strategy officer at Houston software company Liongard and chief information officer at Empact IT, which he also owns. He mentors through Founder Fridays Houston Group, Software Day by Mercury Fund, SUPERGirls SHINE Foundation, Cup of Joey and at the Ion. He's worked with founders of FlowCare, STEAM OnDemand, Lokum and many other early stage startups.

"Being a mentor to me means unleashing an individual’s 10x—their purpose, their ikigai (a Japanese concept that speaks to a person’s reason for being)," Alapat says. "Mentoring founders in the Houston community of early stage, high-growth startups is an honor for me. I get to live vicariously through a founder’s vision of the future. Once they show me that compelling vision, I’m drawn to bring the future forward with them so the vision becomes reality with a sense of urgency."

Neal Dikeman, Energy Transition Ventures

Neal Dikeman serves as partner at early stage venture fund Energy Transition Ventures, executive in residence at Greentown Labs, and offices in and supports Rice Nexus at the Ion. He mentors startups, like Geokiln, personally. He also mentored Helix Earth through Greentown Labs. The company went on to win in the Smart Cities, Transportation & Sustainability contest at SXSW earlier this year. Dikeman has helped launch several successful startups himself, most recently serving on the board of directors for Resilient Power Systems, which was acquired by Eaton Corp for $150 million.

"Founders have to find their own path, and most founders need a safe space where they can discuss hard truths outside of being 'on' in sales mode with their team or board or investors, to let them be able to work on their business, not just in it," Dikeman says.

Nisha Desai, Intention

Nisha Desai serves as CEO of investment firm Intention and mentors through Greentown Labs, TEX-E, Open Minds, the Rice Alliance Clean Energy Accelerator, Avatar Innovations and The Greenhouse. She currently works with founders from Solidec, Deep Anchor Solutions, CLS Wind and several other local startups, several of which have been nominated for Innovation Awards this year. She's served a board member for Greentown Labs since 2021.

"When I first started mentoring, I viewed my role as someone who was supposed to prevent the founder from making bad decisions. Now, I see my role as a mentor as enabling the founder to develop their own decision-making capability," Desai says. "Sometimes that means giving them the space to make decisions that might be good, that might be bad, but that they can be accountable for. At the end of the day, being a mentor is like being granted a place on the founder's leadership development journey, and it's a privilege I'm grateful for."

---

The Houston Innovation Awards program is sponsored by Houston City College Northwest, Houston Powder Coaters, FLIGHT by Yuengling, and more to be announced soon. For sponsorship opportunities, please contact sales@innovationmap.com.

Rice, Houston Methodist developing soft 'sleep cap' for brain health research

Researchers and scientists at Rice University and Houston Methodist are developing a “sleep cap” that aims to protect the brain against dementia and other similar diseases by measuring and improving deep sleep.

The project is a collaboration between Rice University engineering professors Daniel Preston, Vanessa Sanchez and Behnaam Aazhang; and Houston Methodist neurologist Dr. Timea Hodics and Dr. Gavin Britz, director of the Houston Methodist Neurological Institute and chairman of the Department of Neurosurgery.

According to Rice, deep sleep is essential for clearing waste products from the brain and nightly “cleaning cycles” help remove toxic proteins. These toxic proteins, like amyloids, can accumulate during the day and are linked to Alzheimer’s disease and other neurological issues.

Aazhang, director of the Rice Neuroengineering Initiative, and his team are building a system that not only tracks the brain’s clearing process but can also stimulate it, improving natural mechanisms that protect against neurodegeneration.

Earlier proof-of-concept versions of the caps successfully demonstrated the promise of this approach; however, they were rigid and uncomfortable for sleep.

Preston and Sanchez will work to transform the design of the cap into a soft, lightweight, textile-based version to make sleep easier, while also allowing the caps to be customizable and tailored for each patient.

“One of the areas of expertise we have here at Rice is designing wearable devices from soft and flexible materials,” Preston, an assistant professor of mechanical engineering, said in a news release. “We’ve already shown this concept works in rigid device prototypes. Now we’re building a soft, breathable cap that people can comfortably wear while they sleep.”

Additionally, the research team is pursuing ways to adapt their technology to measure neuroinflammation and stimulate the brain’s natural plasticity. Neuroinflammation, or swelling in the brain, can be caused by injury, stroke, disease or lifestyle factors and is increasingly recognized as a driver of neurodegeneration, according to Rice.

“Our brain has an incredible ability to rewire itself,” Aazhang added in the release. “If we can harness that through technology, we can open new doors for treating not just dementia but also traumatic brain injury, stroke, Parkinson’s disease and more.”

The project represents Rice’s broader commitment to brain health research and its support for the Dementia Prevention Research Institute of Texas (DPRIT), which passed voter approval last week. The university also recently launched its Rice Brain Institute.

As part of the project, Houston Methodist will provide access to clinicians and patients for early trials, which include studies on patients who have suffered traumatic brain injury and stroke.

“We have entered an era in neuroscience that will result in transformational cures in diseases of the brain and spinal cord,” Britz said in the release. “DPRIT could make Texas the hub of these discoveries.”

View All Listings

INNOVATIONMAP EMAILS ARE AWESOME