Sameer Soleja, founder and CEO of Molecule, 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 (CTRM) 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.

Founded in 2012, Molecule specializes in cloud-based trading and risk management software for the energy and commodities sectors. Among the business segments that use Molecule’s software are electricity, natural gas, crude and refined products, chemicals, agricultural commodities, metals, and cryptocurrency.

“Energy and commodities markets have been undergoing a seismic shift, driven by two key factors: increasing price volatility across all commodities and a global energy transition stemming from the challenges of climate change,” Molecule says in a news release. “Given these market trends, near real-time data access and advanced trading analytics are essential for effective portfolio risk management.”

In 2021, Molecule closed a $12 million series A funding round led by Houston-based VC firm Mercury Fund. Seven years earlier, Molecule received a $1.1 million seed round from Mercury and the Houston Angel Network.

In a 2021 interview with the Houston Innovators Podcast, Soleja described how Molecule helps its customers assemble scattered data.

“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 said.

“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.”

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

eavesdropping in Houston

Keep reading...Show less
Want to work for one of the top startups in Houston? These ones are hiring. Photo by Tima Miroshnichenko from Pexels

Here's which of the InnovationMap Awards finalists are hiring

growing biz

After scouring Houston for the best of the Houston innovation ecosystem and evaluating dozens of companies, InnovationMap has announced the finalists in its inaugural awards. But which of these companies are growing their teams?

Turns out, almost all of them have open positions — some planning to double their teams over the next year. In fact, the 28 companies that make up our cohort of finalists are looking for over 250 new employees — some have these positions open now and others are seeking these new team members over the next 12 months.

Let's look at how many new hires these top startups are looking for.

Biggest gains

The InnovationMap Awards finalist with the loftiest hiring goal is Liongard, which is a finalist in the People's Choice: Startup of the Year category. Liongard — a platform that helps IT companies automatically discover, document, and audit their customers' IT systems — is looking to fill 70 positions over the next year. The company, founded in 2015, has just over 100 employees now.

The startup finalist with the second highest hiring goals is Nanotech, a material science company with a mission to fireproof the world and reduce energy consumption. Nanotech is looking to hire over 40 new employees in the next 12 months, which would almost triple its current staff of 15. Founded in 2019 by Mike Francis, the company is a finalist in both the Energy Transition and People's Choice categories.

Another People's Choice finalist, GoCo, and its all-in-one employee management platform, is currently looking to grow its team by adding 20 new employees to its staff of 53. The company was founded in 2015 and has since raised over $12 million in VC funding.

Also looking to grow their team by 20 new hires is Hello Alice — a small business owner's passport through entrepreneurship that helps with networking, raising capital, and accessing growth tools. The company, co-founded by Carolyn Rodz, is up for an award in the BIPOC-Founded, Female-Founded, and People's Choice categories.

GoExpedi, whose founder and CEO Timothy Neal is a finalist in the Top Founder Under 40 category, currently has 17 positions open at the moment and is looking to add those new hires into its team of over 150 employees. The e-commerce, supply chain, and analytics company is streamlining procurement for industrial and energy MRO (maintenance, repair and operations).

While Female-Founded Business finalist RingOn — a wearable GPS tracker that is also a panic button that's designed for school kids and with an impact-driven mission of ending child trafficking — is only currently looking for six new hires, the company is expecting to hiring another 15 new employees next year. Right now, the company's employee count is at three.

Steady growth

A few of the awards finalists are sporting hiring goals in the seven to 12 new staffers range. Space Tech finalist NANCO Aero, which is developing package- and person-carrying air vehicles, is hiring a dozen new employees — a big goal considering the company currently has just four employees.

Enercross LLC, automation software for the energy industry, is a finalist in the Energy Transition category and is looking to add 11 new people to its team of 42. Meanwhile Sports Tech finalist sEATz — a mobile ordering and delivery platform for food, drinks, and merchandise at large events — is looking to about double its team of 10 over the few months.

Health Tech finalist Medical Informatics Corp. is the creator of Sickbay, which features web-based applications that transform data into actionable information to help care teams make better, faster decisions. The company has seven open positions to grow its team of 36.

Seeking selectively

The following InnovationMap Awards finalists are looking to grow their teams with between two and six new hires:

  • Allotrope Medical — creator of StimSite, a device that improves surgical safety and efficiency in millions of operations performed every year.
  • CaseCTRL — using artificial intelligence and automation to streamline surgical scheduling.
  • Cemvita Factory — engineering microbes that eat CO2 and produce valuable chemicals.
  • Cheers Health — creating products that are designed to support your liver and help you feel better after consuming alcohol.
  • Cognitive Space — providing a scalable satellite constellation management solution to the space industry.
  • Data Gumbo — creator of an interconnected industrial smart contract network secured and powered by blockchain.
  • DonateStock — simplifying the process of donating stock and helping nonprofits solicit, process, and manage stock donations.
  • FitLift — a wearable device and mobile platform that tracks motion and gives real-time feedback on lifting technique, allowing trainers, and athletes to drive results.
  • LAMIK Beauty — a tech-enabled clean color cosmetics company focusing on women of all diverse backgrounds
  • Molecule Software — creator of a leading cloud-native energy trading software.
  • re:3D Inc. — producer of large, affordable industrial 3D printers, and services that can print with new or recycled filament, pellets, or flake.
  • Saranas — creator of the Early Bird, the first and only FDA-approved bleed detection system for endovascular procedures.
  • Starling Medical — using AI and telehealth enabled medical devices to enable millions with bladder dysfunctions to be able to urinate safely and conveniently again.
  • Topl — impact monetization engine that enables digital and sustainable transformation across value chains and empowers the monetization of impact verified on the Topl Blockchain.
  • Zibrio Inc. — a fall prevention solution that empowers both clinicians and patients for better outcomes.

Find out which of these employers take home the win at the September 8 event at The Cannon - West Houston. Honorees, sponsors, judges, and their guests will celebrate in person, and the rest of the innovation community is invited to tune in to the livestream. Click here to RSVP.

Sponsorships are still available! If you are interested in partnering with InnovationMap as a sponsor of this event, send an email to awards@innovationmap.com.

And the finalists for the inaugural InnovationMap Awards are... Graphic via Gow Media

InnovationMap names 28 Houston startup finalists for inaugural awards

who will take home the win?

Who are Houston's rising stars across energy transition, sports tech, health, and more? InnovationMap set out on a quest to discover that for its inaugural awards. Ahead of the September 8 event, we're revealing the finalists across all categories.

Eight judges evaluated over 100 applications across eight categories for the 2021 InnovationMap Awards presented by Techwave. This year's judges included: Juliana Garaizar, head of the Houston incubator and vice president of innovation at Greentown Labs; Alex Gras, managing director at The Cannon; Rajasekhar Gummadapu, co-founder and CEO of Techwave; Natalie Harms, editor of InnovationMap; Serafina Lalany, interim president at Houston Exponential; Jon Nordby, managing director at MassChallenge; Emily Reiser, senior manager of innovation community engagement at the Texas Medical Center; and Grace Rodriguez, CEO and executive director of Impact Hub Houston.

The winners will be announced and celebrated — along with this year's previously announced Trailblazer Award recipient, Barbara Burger of Chevron Technology Ventures — at the September 8 event at The Cannon - West Houston. Honorees, sponsors, judges, and their guests will celebrate in person, and the rest of the innovation community is invited to tune in to the livestream. Click here to RSVP.

Sponsorships are still available! If you are interested in partnering with InnovationMap as a sponsor of this event, send an email to awards@innovationmap.com.

Without further adieu, here are this year's finalists:

BIPOC-Founded Business Finalists

The finalists for the BIPOC-Founded Business Award category, honoring innovative tech companies founded or co-founded by BIPOC representation, are:

  • Allotrope Medical — creator of StimSite, a device that improves surgical safety and efficiency in millions of operations performed every year.
  • Hello Alice — a small business owner's passport through entrepreneurship that helps with networking, raising capital, and accessing growth tools.
  • LAMIK Beauty — a tech-enabled clean color cosmetics company focusing on women of all diverse backgrounds
  • Molecule Software — creator of a leading cloud-native energy trading software.

Female-Founded Business Finalists

The finalists for the Female-Founded Business Award category presented by Veritex Community Bank, honoring innovative tech companies founded or co-founded by women, include:

  • DonateStock — simplifying the process of donating stock and helping nonprofits solicit, process, and manage stock donations.
  • Hello Alice — a small business owner's passport through entrepreneurship that helps with networking, raising capital, and accessing growth tools.
  • re:3D Inc. — producer of large, affordable industrial 3D printers, and services that can print with new or recycled filament, pellets, or flake.
  • RingOn — wearable GPS tracker that is also a panic button that's designed for school kids and with an impact-driven mission of ending child trafficking.
  • Topl — impact monetization engine that enables digital and sustainable transformation across value chains and empowers the monetization of impact verified on the Topl Blockchain.
  • Zibrio Inc. — a fall prevention solution that empowers both clinicians and patients for better outcomes.

Health Care Business Finalists

The finalists for the Health Care Business Award category presented by Gray Reed, which honors health care businesses with an innovative solution within life sciences, include:

  • Allotrope Medical — creator of StimSite, a device that improves surgical safety and efficiency in millions of operations performed every year.
  • Medical Informatics Corp. — creator of Sickbay, which features web-based applications that transform data into actionable information to help care teams make better, faster decisions.
  • Saranas — creator of the Early Bird, the first and only FDA-approved bleed detection system for endovascular procedures.
  • Starling Medical — using AI and telehealth enabled medical devices to enable millions with bladder dysfunctions to be able to urinate safely and conveniently again.

Energy Transition Business Finalists

The finalists for the Energy Transition Business category, which honors energy business with innovative solutions within renewables, climatetech, clean energy, and beyond, are:

  • Cemvita Factory — engineering microbes that eat CO2 and produce valuable chemicals.
  • Data Gumbo — creator of an interconnected industrial smart contract network secured and powered by blockchain.
  • Enercross LLC — automation software for the energy industry.
  • Nanotech — a material science company with a mission to fireproof the world and reduce energy consumption.
  • re:3D Inc. — producer of large, affordable industrial 3D printers, and services that can print with new or recycled filament, pellets, or flake.
  • Renewell Energy — converting idle oil and gas wells into flexible energy storage.

Sports Tech Business Finalists

The finalists for the Sports Tech Business category, which is honoring a sports tech business with an innovative solution within sports are:

  • FitLift — a wearable device and mobile platform that tracks motion and gives real-time feedback on lifting technique, allowing trainers, and athletes to drive results.
  • Mainline — an esports tournament management system, tournament organizer, and event production company.
  • sEATz — a mobile ordering and delivery platform for food, drinks, and merchandise at large events.

Space Tech Business Finalists

The finalists for the Space Tech Business category, which is honoring an aerospace business with an innovative solution within space exploration. are:

  • Cemvita Factory — engineering microbes that eat CO2 and produce valuable chemicals.
  • Cognitive Space — providing a scalable satellite constellation management solution to the space industry.
  • NANCO Aero — developing package- and person-carrying air vehicles.

Top Founder Under 40 Finalists

The finalists for the Top Founder Under 40 category, which honors an innovative founder younger than 40 by Sept. 8, 2021, are:

  • Pamela Singh of CaseCTRL — using artificial intelligence and automation to streamline surgical scheduling.
  • Timothy Neal of GoExpedi — an e-commerce, supply chain, and analytics company that is streamlining procurement for industrial and energy MRO (maintenance, repair and operations).
  • Kim Roxie of LAMIK Beauty — a tech-enabled clean color cosmetics company focusing on women of all diverse backgrounds.
  • Emma Fauss of Medical Informatics Corp. — creator of Sickbay, which features web-based applications that transform data into actionable information to help care teams make better, faster decisions.
  • Emily Cisek of The Postage — a legacy planning platform using tech to make afterlife decision making easier.

People’s Choice: Startup of the Year Finalists

The finalists for the People's Choice: Startup of the Year category, which will each present a 60-second live elevator pitch at the event on September 8, are:

    • Cheers Health — creating products that are designed to support your liver and help you feel better after consuming alcohol.
    • GoCo — all-in-one employee management platform.
    • Hello Alice — a small business owner's passport through entrepreneurship that helps with networking, raising capital, and accessing growth tools.
    • Liongard — a platform that helps Information Technology companies automatically discover, document, and audit their customers' IT systems.
    • Nanotech — a material science company with a mission to fireproof the world and reduce energy consumption.
    • re:3D Inc. — producer of large, affordable industrial 3D printers, and services that can print with new or recycled filament, pellets, or flake.
    • Topl — impact monetization engine that enables digital and sustainable transformation across value chains and empowers the monetization of impact verified on the Topl Blockchain.

    Ad Placement 300x100
    Ad Placement 300x600

    CultureMap Emails are Awesome

    Fast-growing Houston-based geothermal energy co. secures $255M in additional funding

    show me the money

    A Houston company that's responding to rising energy demand by harnessing geothermal energy through its technology has again secured millions in funding. The deal brings Fervo's total funding secured this year to around $600 million.

    Fervo Energy announced that it has raised $255 million in new funding and capital availability. The $135 million corporate equity round was led by Capricorn’s Technology Impact Fund II with participating investors including Breakthrough Energy Ventures, CalSTRS, Congruent Ventures, CPP Investments, DCVC, Devon Energy, Galvanize Climate Solutions, Liberty Mutual Investments, Mercuria, and Sabanci Climate Ventures.

    The funding will go toward supporting Fervo's ongoing and future geothermal projects.

    “The demand for 24/7 carbon-free energy is at an all-time high, and Fervo is one of the only companies building large projects that will come online before the end of the decade,” Fervo CEO and Co-Founder Tim Latimer says in a news release. “Investors recognize that Fervo’s ability to get to scale quickly is vital in an evolving market that is seeing unprecedented energy demand from AI and other sources.”

    Additionally, Fervo secured a $120 million letter of credit and term loan facility from Mercuria, an independent energy and commodity group that previously invested in the company.

    “In surveying power markets across the U.S. today, the need for next-generation geothermal is undeniable,” Brian Falik, group chief investment officer of Mercuria, adds. “We believe in Fervo not just because their EGS approach is cost-effective, commercially viable, and already being deployed at scale, but because they set ambitious targets and consistently deliver.”

    In February, Fervo secured $244 million in a financing round led by Devon Energy, and in September, the company received a $100 million bridge loan for the first phase of its ongoing project in Utah. This project, known as Project Cape, represents a 100x growth opportunity for Fervo, as Latimer explained to InnovationMap earlier this year. As of now, Project Cape is fully permitted up to 2 GW and will begin generating electricity in 2026, per the company.

    Other wins for Fervo this year include moving into its new headquarters in downtown Houston, securing a power purchase agreement with California, growing its partnership with Google, and being named amongst the year's top inventions by Time magazine.


    Investors from Houston, Boston fuel Greentown with $4M commitment

    seeing green

    Greentown Labs, a climatetech incubator with locations in the Houston and Boston areas, has announced it has received funding from a mix of investors.

    The $4 million in funding came from both of the Houston and Massachusetts locations. Houston investors included Bobby Tudor, CEO of Artemis Energy Partners and chairman of the Houston Energy Transition Initiative; David Baldwin, co-founder of OpenMinds and TEX-E and partner at SCF Partners; and Rice University. Other investors included MassDevelopment and the City of Somerville.

    “The challenges of the energy transition are immense, and the role played by technology incubators like Greentown Labs is essential,” Tudor says in a news release. “We believe this role, which is a partnership between academia, industry, philanthropists, entrepreneurs, and governments, is the best way to get to effective, scalable solutions in a time frame that the urgency of the challenge requires. We need all hands on deck, and this partnership between Massachusetts and Texas can be a role model for others.”

    According to Greentown, the funding will support its financial position and contribute to preparing the incubator for its next chapter of supporting its its leadership team prepare for Greentown’s next chapter supporting and growing its 575 startups.

    “Greentown’s mission aligns closely with the Houston Energy Transition Initiative’s goal of accelerating global solutions to address the dual challenge of meeting growing energy demand globally while also significantly reducing CO2 emissions,” adds Steve Kean, president and CEO of the Greater Houston Partnership.

    With the announcement of the funding, Greentown named its board members, including Tudor, who will serve as Greentown Labs Board Chair. The other Houston-based board members are:

    • David Baldwin, co-founder of OpenMinds and TEX-E; partner atSCF Partners
    • Bob Harvey, former president and CEO of GHP; board member of TEX-E
    • Jane Stricker, senior vice president of energy transition and executive director of HETI

    “With this new funding, Greentown is poised to expand its impact across its existing ecosystems and support even more climatetech startups,” adds Kevin Dutt, interim CEO of Greentown Labs. “We believe in the essential role entrepreneurship will play in the energy transition and we’re grateful for the support of our partners who share in that belief and our collective commitment to commercializing these technologies as quickly and efficiently as possible.”

    According to Greentown, the incubator plans to announce its new CEO in the coming months.

    ------

    This article originally ran on EnergyCapital.

    From hiring tips to AI's impact on the workforce, here's what guest columns were the most read in 2024

    year in review

    Editor's note: Every week, InnovationMap runs one or two guest columns written by tech entrepreneurs, public relations experts, data geniuses, and more. As Houston's innovation ecosystem gets ready for 2025, here are some of this year's top guest contributor pieces — each with pertinent information and advice for startups both at publishing and into the new year. Make sure to click through to continue reading each piece.

    Is your New Year's resolution to start contributing? Email natalie@innovationmap.com to learn more.

    How to avoid bad hiring decisions when it matters most, according to this Houston expert

    Despite the inevitability of bad hires, recruiters equipped with proper tools and training can identify red flags and take preventive measures. Photo by Tima Miroshnichenko from Pexels

    Written by Karen Leal, performance specialist with Houston-based Insperity, a provider of human resources offering a suite of scalable HR solutions available in the marketplace.

    Hiring the right people for the right roles is ideal and can make an organization reach new heights. The reality is every business has made a bad hire.

    Finding the wrong fit for a team or organization is not uncommon, but it is important to know what it costs the organization, which can be detrimental to company finances and its workplace culture, especially small businesses and startups where the impact is magnified.

    The U.S. Department of Labor reports a bad hire can cost up to 30 percent of the employee’s wage, which would be approximately $18,000 since the average American wage is $60,000. In addition, there are soft costs of managers and leadership time during the hiring and training process, which adds up quickly. Continue reading.

    How AI is changing product management and what you need to know

    A product management expert shares how artificial intelligence is affecting the process for the tech and startup worlds. Photo via Getty Images

    Written by Natasha Gorodetsky, founder and CEO of Product Pursuits, a Houston company that helps early stage and venture-backed startups build products and create impact.

    For the past 14 months, everyone has been talking about ways artificial intelligence is changing the world, and product management is not an exception. The challenge, as with every new technology, is not only adopting it but understanding what old habits, workflows, and processes are affected by it.

    Product managers — as well as startup founders leading a product function — more than any other role, face a challenge of bringing new life-changing products to market that may or may not be received well by their users. A product manager’s goal is complex — bring value, stay ahead of the competition, be innovative. Yet, the "behind the scenes" grind requires endless decision making and trade offs to inspire stakeholders to move forward and deliver.

    As we dive into 2024, it is obvious that AI tools do not only transform the way we work but also help product managers create products that exceed customer expectation and drive businesses forward. Continue reading.

    Houston expert shares 3 ways to stay on top of employee mental health

    Companies that intentionally focus on their employees’ mental well-being will reap the benefits of a happier, healthier workforce. Photo via Getty Images

    Written by Dennis Yung, executive vice president and general manager at Skanska.

    Conversations surrounding mental health have come to the forefront of business and is an imperative aspect that cannot be ignored by business leaders.

    Approximately 20 percent of Americans, which is 50 million people (about twice the population of Texas), are experiencing a mental illness, 15 percent of Americans had a substance use disorder in the past year and nearly 5 percent, over 12.1 million adults, reported serious thoughts of suicide (Mental Health America). Notably, certain professions, such as construction, exhibit higher suicide rates, (CDC). With these staggering numbers, the foundation of workplace safety extends beyond physical well-being to encompass psychological health.

    The landscape has undergone a transformation, stemming from the pandemic, and the stigma of mental health concerns and seeking help has loosened. Recognizing that September is Suicide Prevention Month, below are three ways businesses of every size can actively support the mental well-being of their employees. Continue reading.

    Houston expert shares 3 business trend predictions for 2024

    Here are predictions for what current and emerging trends will further shape businesses in 2024. Photo via Getty Images

    Written by Bryce Lindner, senior vice president and market executive, commercial banking in South Texas at Louisiana at Bank of America.

    Last year was a dynamic year for businesses across all sectors. Artificial intelligence went from a novel technology to a more widely utilized business productivity tool. Many companies invested additional resources in sustainable business practices. And digital business solutions helped companies thrive.

    Here are predictions for what current and emerging trends will further shape businesses in 2024. Continue reading.

    How this Houston innovator is using his personal connection to ALS fuel his fight for a cure

    Daniel Barvin has a neurodegenerative disease in his near future. He joined Houston-based Coya Therapeutics to help fight for a cure to the aggressively deadly ALS. Photo via Getty Images

    Written by Daniel Barvin, vice president of operations and patient advocacy at Coya Therapeutics.

    We can never predict how our lives will turn out, but then maybe some of us can. Genetic testing showed that I, like my grandfather, aunt, uncle and father before me, would most likely die of amyotrophic lateral sclerosis, more commonly known as ALS, and/or frontotemporal degeneration (FTD) in my 40s.

    Being 36, it’s possible that fear could have overtaken my life, but instead I chose to fight for every chance to change not only my life, but the lives of millions who are suffering or may one day suffer from neurodegenerative disease.

    ALS is a rare disease that robs one of their ability to control their muscles, leading them to lose their ability to walk, talk and eventually breathe. Eighty percent of cases are sporadic (of unknown origin) and 20 percent have known genetic causes. Continue reading.