Houston energy tech startup Molecule closes series B funding round

Big Bang

Sameer Soleja is the founder and CEO of Molecule, which just closed its series B round. Photo courtesy of Molecule Software

Houston-based energy trading risk management (ETRM) software company Molecule has completed a successful series B round for an undisclosed amount, according to a July 16 release from the company.

The raise was led by Sundance Growth, a California-based software growth equity firm.

Sameer Soleja, founder and CEO of Molecule, said in the release that the funding will allow the company to "double down on product innovation, grow our team, and reach even more markets."

Molecule closed a $12 million Series A round in 2021, led by Houston-based Mercury Fund, and has since seen significant growth. The company, which was founded in 2012, has expanded its customer base across the U.S., U.K., Europe, Canada and South America, according to the release.

Additionally, it has launched two new modules of its software platform. Its Hive module, which debuted in 2022, enables clients to manage their energy portfolio and renewable credits together in one scalable platform. It also introduced Elektra, an add-on for the power market to its platform, which allows for complex power market trading.

"Four years ago, we committed to becoming the leading platform for energy trading," Soleja said in the release. "Today, our customers are managing complex power and renewable portfolios across multiple jurisdictions, all within Molecule.”

Molecule is also known for its data-as-a-lake platform, Bigbang, which enables energy ETRM and commodities trading and risk management (CTRM) customers to automatically import trade data from Molecule and then merge it with various sources to conduct queries and analysis.

“Molecule is doing something very few companies in energy tech have done: combining mission-critical depth with cloud-native, scalable technology,” Christian Stewart, Sundance Growth managing director, added in the statement.

“Sameer and his team have built a platform that’s not only powerful, but user-friendly—a rare combination in enterprise software. We’re thrilled to partner with Molecule as they continue to grow and transform the energy trading and risk management market.”

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This article originally appeared on EnergyCapitalHTX.com.

Want to work for one of the top startups in Houston? Some of the best in Houston are hiring. Photo by Tima Miroshnichenko from Pexels

Looking for a job? These 2023 Houston Innovation Awards finalists are hiring

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More than half of this year's startup finalists in the Houston Innovation Awards are hiring — who's looking for a job at one of the best startups in Houston?

When submitting their applications for the 2023 Houston Innovation Awards, which is taking place November 8 at Silver Street Studios, every startup was asked if it's hiring. Twenty-seven of the 35 startup honorees said yes, ranging from over 20 to just one positions open at each company.

Click here to secure your tickets to see which of these growing startups win.

Here's a look at which of the top startups in Houston are seeking new team members.

Double-digit growth

When it comes to the awards finalists looking to scale their team by 10 or more new hires, five finalists are growing rapidly.

Medical practice software platform RepeatMD, fresh off a $40 million raise — which included participation from Houston-based Mercury — is reportedly growing its team. The company, which has 115 employees already, is looking for over 20 new hires.

Female-owned business Feelit Technologies, which is using nanotechnology for preventive maintenance to eliminate leaks, fires and explosions, increase safety and reduce downtime, has 50 employees, and only three of which are in Houston – for now. The company hopes to grow its team by 12 to 15 employees in Houston alone.

Square Robot, an energy industry-focused robotics company that recently grew its presence in Houston, is hiring 10 to 30 new team members. It has 24 employees already in Houston.

Solugen, an alternative chemicals business, has around 140 of its 200 employees in Houston. The company, which has raised over $600 million to date, is hiring an additional 10 to 15 new hires.

Additionally, Blue People, also a finalist in last year's awards, is hiring 25 new employees. The company was founded in 2015 in Mexico and relocated its primary operations to Houston in 2020. Blue People, which develops software innovation for its clients, has over 150 employees — 10 of whom, including C-level executives, are based in Houston. Some of the company's new hires will be based in town.

Steady growth

Four Houston startups are hiring within the six to 10 team member range — all with fairly significant employee counts already.

A finalist in last year's awards too, Venus Aerospace, a hypersonics company on track to fly reusable hypersonic flight platforms by 2024, is again growing its team. With 48 on-site employees and 23 working remotely, Venus's team will add another five to 10 employees.

Syzygy Plasmonics, a deep decarbonization company that builds chemical reactors designed to use light instead of combustion to produce valuable chemicals like hydrogen and sustainable fuels, has 112 employees in Houston and plans to hire another eight to its team.

Lastly, Fervo Energy, which recently raised $10 million, has 63 full-time employees (34 in Houston, 29 outside of Houston) and looking to hire seven more.

Seeking selectively

The following awards finalists are looking to grow their teams by just a handful or so — between one and five — of new hires:

  • ALLY Energy, helping energy companies and climate startups find, develop, and retain great talent.
  • CaseCTRL, an AI-powered surgery scheduling and coordination software for optimized procedures.
  • CellChorus, using AI to evaluate immune cell function and performance to improve the development and delivery of therapeutics.
  • FluxWorks, making frictionless gearboxes for missions in any environment.
  • Helix Earth Technologies, decarbonizing the built environment and heavy industry.
  • Hope Biosciences, a clinical stage biotechnology company focused on the development and delivery of adult stem cell based therapeutics.
  • Innovapptive, empowering the deskless workers in operations, maintenance and warehouses by unlocking the power of SAP through mobility.
  • INOVUES, re-energizing building facades through its non-invasive window retrofit innovations, making building smarter, greener, and healthier for a better and sustainable future.
  • Koda Health, , a tech-enabled care coordination service to improve serious illness care planning and drive savings for value-based care at scale.
  • Molecule, an energy/commodity trading risk management software that provides users with an efficient, reliable, responsive platform for managing trade risk.
  • Rhythm Energy, 100 percent renewable electricity service for residential customers in Texas.
  • Starling Medical, bringing the future of a proactive and predictive home-based healthcare system to patients today through passive AI powered at home urine screening.
  • Taurus Vascular, pioneering a new era of aortic aneurysm treatment by developing minimally invasive catheter solutions to drive better long-term patient outcomes.
  • Tierra Climate, decarbonizing the power grid faster by helping grid-scale batteries monetize their environmental benefits and change their operational behavior to abate more carbon.
  • UpBrainery Technologies, an innovative educational technology company that provides personalized and adaptive learning experiences to learners
  • Utility Global, a technology company converting a range of waste gases into sustainable hydrogen and syngas.
  • Voyager Portal, helping commodity shippers identify root causes of demurrage, reduce risk and streamline the entire fixture process.

This week's roundup of Houston innovators includes Brianna Brazle of CultureLancer, Sameer Soleja of Molecule, and Emerson Perin of Texas Heart Institute. Photos courtesy

3 Houston innovators to know this week

hou to know

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 care to energy tech — recently making headlines in Houston innovation.

Brianna Brazle, founder of CultureLancer

Houston founder joins DivInc's newest accelerator that supports Web3 companies with a social impact. Photo courtesy

DivInc, aTexas-based accelerator focused on helping BIPOC and female founders on their entrepreneurial journeys, announced the inaugural class for its newest accelerator. DWeb for Social Impact Accelerator, a 12-week intensive hybrid program sponsored by Filecoin Foundation for the Decentralized Web, will mentor nine companies, all of whom integrate Web3 technologies into their impact entrepreneurship.

One Houston-based startup, CultureLancer, will be participating in the program. Founded by Brianna Brazle, the career-focused platform matches students from HBCU with companies looking to hire in the fields of business development, data analysis, marketing, and operations.

“That’s a problem that has been existing and then after doing more research I learned historically about 56%, year over year, of college graduates find themselves unemployed or underemployed,” Brazle explains. “My first solution to this problem was a hybrid marketplace.” Read more.

Sameer Soleja, founder and CEO of Molecule

Sameer Soleja has expanded his company's platform. Photo courtesy of Molecule Software

Houston startup Molecule Software hopes to get a big bang out of its new platform for the energy and commodities markets. The data-as-a-lake platform, Bigbang, is available as an add-on for current Molecule customers. It enables energy trading and risk management (ETRM) and commodities trading and risk management customers to automatically import trade data from Molecule, and then merge it with various sources to conduct queries and analysis.

Molecule sells Bigbang at a monthly rate through either a yearly or multiyear contract.

“We’re seeing a growing need in the energy and commodities trading space for a turnkey data lake, as indicated by our own customers. They need real-time and automated data streaming from key systems, the ability to query the data quickly and easily, and access to the data using the analytics tools they know well,” says Sameer Soleja, founder and CEO of Molecule. Read more.

Emerson Perin, medical director of The Texas Heart Institute

Emerson Perin of the Texas Heart Institute, recently published the largest clinical trial of cell therapy for patients with chronic heart failure to-date included 580 patients at 52 sites throughout North America. Photo via texasheart.org

Emerson Perin’s end goal isn’t to treat heart failure. The medical director of The Texas Heart Institute says that he has his sights set firmly on curing the malady altogether. And, with the power of innovation and a strong team, the Houston-based cardiologist has a good chance of meeting his objective.

Perin first came to THI for fellowship training in 1988, following his residency in Miami and medical school in his birthplace of Brazil.

“This is a very special place,” the physician and researcher, whose titles also include director for THI’s Center for Clinical Research and vice president for medical affairs, tells InnovationMap. “It has a worldwide-reaching reputation. I’ve always liked research and this is a great place in terms of innovation and practicing high-level cardiology.” Read more.

The four finalists in the BIPOC-Founded Business category for the inaugural InnovationMap Awards share their best advice for their fellow founders. Photos courtesy

Overheard: 4 Houston BIPOC startup founders share their advice ahead of InnovationMap Awards

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This week's roundup of Houston innovators includes Sameer Soleja of Molecule, Gabriela Gerhart of The Motherhood center, and 50 Cent. Courtesy photos

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 — software, education, and more — recently making headlines in Houston innovation.

Sameer Soleja, CEO of Molecule

Sameer Soleja, CEO of Molecule, joins the Houston Innovators Podcast to discuss his startup's recent fundraise — and how he's planning on being at the forefront of the evolving electricity commodities industry. Photo courtesy of Molecule

A 9-year-old software startup has been reinvigorated by fresh funds and a new opportunity to emerge as a leader in enterprise software for commodities — especially for electricity traders. Sameer Soleja, CEO of Molecule, joins the Houston Innovators Podcast to discuss the company's latest funding round — a $12 million series A.

"The commodities industry is looking really hard at electricity as the growth commodity of the 2020s — renewables and conventionally generated electricity," Soleja says. "Everybody in our client base and in the market is looking at electricity. Well, we happen to have more than have of our customer base be in electricity."

Click here to listen to the podcast and read more.

Gabriela Gerhart, founder of The Motherhood Center

Houston entrepreneur recounts journey from communism to U.S. success in new book

Gabriela Gerhart recounts her journey from communism to American success in her new book. Photo courtesy of Gabriela Gerhart

Gabriela Gerhart remembers that day, back in 1989, when her teacher walked into her classroom in Czechoslovakia and announced that communism was over. Further, she told the group that everything she'd been teaching them was a lie.

Gerhart was stunned.

"It was confusing," she tells CultureMap. "You think to yourself, 'was I fooled? Was I indoctrinated? 'You have to understand, I had no idea there was another world out there."

Gerhart, founder of The Motherhood Center on West Alabama Street unpacks those feelings and others in her new autobiography, After The Fall, a story of growing up in Central Europe under communism and following her own wanderlust to the States, where she fell in love, got married, and built a successful business.

Click here to read more.

Rapper 50 Cent really means business. 50 Cent/Twitter

Rap star and Newstonian 50 Cent is giving back to area schools in need of help. The recently relocated rapper/producer/entrepreneur/rodeo wine bidder is teaming up with the Houston Independent School District and Horizon United Group to bolster entrepreneurship programs at Kashmere, Worthing, and Wheatley high schools.

He has funded the project with a $600,000 donation, Mayor Sylvester Turner announced on May 17.

Dubbed the G-Unity Business Lab, the new program will encourage students to engage in MBA-level lessons that represent the full lifecycle of a product or concept, from idea creation, to market branding, to even running a company, a press release notes.

Click here to read more.

Sameer Soleja, CEO of Molecule, joins the Houston Innovators Podcast to discuss his startup's recent fundraise — and how he's planning on being at the forefront of the evolving electricity commodities industry. Photo courtesy of Molecule

Houston software startup to use fresh funds to become 'unquestionably the best' for the electricity industry

HOUSTON INNOVATORS PODCAST EPISODE 84

Sameer Soleja went to business school and came back into the workforce with a bit of a revelation about software for the commodities industry.

"I realized, 'wait a second, we've been making terrible software and selling it for tens of millions of dollars," Soleja, CEO of Molecule, says on this week's episode of the Houston Innovators Podcast. "We had to be able to do something better than this — technology is better than this."

Soleja founded Molecule in 2012 to address the problem. The technology isn't unfamiliar to what ardent stock traders have at their fingertips, but before these types of platforms came into the picture, commodities companies didn't have a central platform.

"The way to think about the product is if you have a brokerage account — like Robinhood, or something like that — you see how much stock you have and how much you've made or lost," Soleja says. "For companies that are trading electricity, crude oil, natural gas, and other commodities and agricultural products, they also want to see how much of each thing they have and how much they've made or lost. But they don't just get to log into their brokerage account and figure it out. That's in a lot of different places."

Lately, a couple companies have bought up some of the businesses in this sector, leaving a lot of room open up at the top. Soleja says he saw this as an opportunity and started the arduous fundraising process. Molecule closed its series A round led by Houston-based Mercury Fund this month.

The other opportunity Soleja says he saw was a new market focus on electricity — a subsector Molecule is very good at working with. About half of Molecule's clients are in this field and electricity — as opposed to oil and gas products — is full of data. Where data comes in weekly or even monthly for O&G, fresh data comes in every 15 minutes for Molecule's electrical clients.

"The commodities industry is looking really hard at electricity as the growth commodity of the 2020s — renewables and conventionally generated electricity," Soleja says. "Everybody in our client base and in the market is looking at electricity. Well, we happen to have more than have of our customer base be in electricity."

Therein lies the opportunity for Molecule, which is also interested in deploying its capital is into engineering to both meet the feature gap and exceed in places where the company is already better, Soleja explains.

"We realized, well that's the place we double down because that's where the economy is going and that's what we're good at. Let's become unquestionably the best at it," he says.

The funds will go toward company expansion. Soleja says he plans to add 50 percent to his team within the next 6 to 12 months and potentially be at 30 to 40 people in a year or two from now. Over the past nine years, Molecule has been growing organically without a centralized focus on sales and marketing.

"We are way below the benchmark for what everyone else spends on sales and marketing. So, we're going to fix that," he says.

Soleja shares more about his raise process and shares advice for his fellow startup founders on the episode. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.

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Baylor, Rice win $500,000 to launch humanities-driven health AI center

ethical AI

Baylor College of Medicine and Rice University have been awarded a $500,000 grant from the National Endowment for the Humanities (NEH) to create the Center for Humanities-based Health AI Innovation (CHHAIN).

The new center and three-year initiative aims to create ethically responsible and trustworthy AI for health care that uses history and patient narratives to shape the technology, according to a release. It represents a collaboration between the Center for Medical Ethics and Health Policy at Baylor and the Medical Humanities Research Institute at Rice. Ultimately, the researchers aim to establish a national model for integrating the humanities into the design and implementation of health AI.

Vasiliki Rahimzadeh, assistant professor at Baylor in the Center for Medical Ethics and Health Policy, and Kirsten Ostherr, director of the Medical Humanities Research Institute at Rice, will serve as co-directors of the new center, which will be housed within the Center for Medical Ethics.

The team will also engage in strategic collaborations with Kirstin Matthews, Rice’s Baker Institute for Public Policy and its fellow in science and technology policy, as well as Dr. Quianta Moore, executive director of the Meadows Mental Health Policy Institute. An interdisciplinary team of medical humanities and bioethics scholars from Baylor, Rice, and partners in the Houston area will complete the group.

“CHHAIN represents a bold new model for integrating the humanities into health innovation,” Ostherr said in a news release. “It will create a collaborative space where humanities scholars, patients, developers and clinicians can come together to explore the human dimensions of health AI—trust, narrative and lived experience. These are essential perspectives that are too often missing from technology development, and CHHAIN is designed to change that."

CHHAIN’s work will revolve around three key points:

  • Defining trustworthy AI through patient voices
  • Translating humanities insights into clinical AI settings
  • Public engagement and policy translation

“For AI to truly improve health outcomes, it must be designed with patient trust and wellbeing at its core,” Rahimzadeh said in the news release. “CHHAIN will provide a dedicated space to explore critical bioethics questions, such as how we ensure AI respects patient autonomy, addresses the needs of underserved communities and integrates meaningfully into clinical care. Our goal is to translate these insights into real-world health settings where AI is already shaping patient experiences."

CHHAIN's research mission was also developed thanks to pilot funding from the Margaret M. and Albert B. Alkek Department of Medicine at Baylor and a grant from Rice's Provost's TMC Collaborator Fund.

Texas A&M, the University of North Texas and the University of Texas at El Paso were also home to some of the 97 projects that received a portion of the $34.79 million in fundning from the NEH. See the full list here.

Houston booms as No. 2 U.S. market for retail construction in 2025

Construction Zone

Get ready for a gigantic cartload of new shopping opportunities in Houston. A new report indicates the equivalent of 21 Walmart supercenters is under construction in the region.

The report, published by commercial real estate services provider Lee & Associates, says Houston has nearly 3.9 million square feet of retail space under construction, making it the second most active market for new retail space in the U.S.

To put that in perspective, given the average Walmart supercenter measures 182,000 square feet, the 3.9 million-square-foot total would work out to 21 new supercenters being built in the region.

Dallas-Fort Worth is by far the most active U.S. market for new retail space; DFW leads more than 60 U.S. retail markets with nearly 7.15 million square feet of space under construction. The amount of retail space going up in DFW represents 15 percent of all retail space under construction in the more than 60 U.S. markets tracked by Lee & Associates.

Houston and Austin aren’t too far behind Dallas-Fort Worth, though.

Third-ranked Austin area has more than 3.4 million square feet of retail space being built.

What’s behind the surge in retail construction across Texas? Population growth.

Data recently released by the U.S. Census Bureau shows Houston was the second-fastest-growing metro from 2023 to 2024. DFW was the country’s third-fastest-growing metro from 2023 to 2024, based on the number of new residents, and Austin landed at No. 13.

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This article originally appeared on CultureMap.com.

Intuitive Machines to acquire NASA-certified deep space navigation company

space deal

Houston-based space technology, infrastructure and services company Intuitive Machines has agreed to buy Tempe, Arizona-based aerospace company KinetX for an undisclosed amount.

The deal is expected to close by the end of this year, according to a release from the company.

KinetX specializes in deep space navigation, systems engineering, ground software and constellation mission design. It’s the only company certified by NASA for deep space navigation. KinetX’s navigation software has supported both of Intuitive Machines’ lunar missions.

Intuitive Machines says the acquisition marks its entry into the precision navigation and flight dynamics segment of deep space operations.

“We know our objective, becoming an indispensable infrastructure services layer for space exploration, and achieving it requires intelligent systems and exceptional talent,” Intuitive Machines CEO Steve Altemus said in the release. “Bringing KinetX in-house gives us both: flight-proven deep space navigation expertise and the proprietary software behind some of the most ambitious missions in the solar system.”

KinetX has supported deep space missions for more than 30 years, CEO Christopher Bryan said.

“Joining Intuitive Machines gives our team a broader operational canvas and shared commitment to precision, autonomy, and engineering excellence,” Bryan said in the release. “We’re excited to help shape the next generation of space infrastructure with a partner that understands the demands of real flight, and values the people and tools required to meet them.”

Intuitive Machines has been making headlines in recent weeks. The company announced July 30 that it had secured a $9.8 million Phase Two government contract for its orbital transfer vehicle. Also last month, the City of Houston agreed to add three acres of commercial space for Intuitive Machines at the Houston Spaceport at Ellington Airport. Read more here.

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