Canadian energy company secures Houston funding, relocates HQ

money moves

Ambyint has fresh funding and a new main office. Photo via Getty Images

An AI-powered energy tech company has raised additional funding and relocated it's main office to Canada.

Ambyint, a Canadian company that's had a Houston presence for a few years, has announced its latest round of funding and new headquarters. The software company provides energy customers with its AI-powered production and artificial lift optimization platform.

The funding comes from existing investors, Houston-based Mercury and Montrose Lane, plus two new investors, BDC Capital and Accelerate Fund III. The undisclosed amount of funding will go toward customer growth, hiring, and new enhancements to the technology, including expanding emissions mitigation capabilities.

"We have the wind in our sails and are extremely proud to see this transaction close,” Benjamin Kemp, CEO of Ambyint, says in a news release. “This investment allows us to double down on the energy market and further our AI-enabled optimization platform. Validation from our customers, talented employees, and investors is most welcome as we continue to scale.”

"Given the uncertainty in the venture capital market, attracting new investors like BDC Capital and Accelerate Fund III, who have followed Ambyint’s journey for several years, demonstrates how far we have come and the exciting future ahead of us," Kemp, who's served as CEO since 2021, adds.

The company also announced its new main office in Calgary. Previously, the Houston office operated as the company's headquarters.

Mercury, which has invested in the company since 2017, contributed to the company's series B in 2020, along with Montrose Lane (née Cottonwood Venture Partners).

“We have had the benefit of seeing the Ambyint platform and team develop over the past six years," says Mercury Managing Director Adrian Fortino says in the release. "We believe they are now poised to dramatically expand their industry footprint and improve customer emissions.”

Ambyint continues to add sustainability and emissions-related functions platform, including CO2 and methane emission tracking and mitigation.

"Utilizing advanced AI, Ambyint is addressing a significant opportunity in upstream oil and gas by increasing production while reducing GHG emissions," Joseph Regan, managing partner from BDC Capital’s Innovation Venture Fund, says in the statement. "They are leading the charge between their impressive technological progress and respected, industry-leading customers. We believe Ambyint’s AI software will be the standard operating procedure in this sector."

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This article originally ran on EnergyCapital.

If you feel like it's hard to find venture capitalists in Houston, you wouldn't be wrong, according to this Houston investor. Photo via Getty Images

Houston investor outlines how rare VCs are in Houston — and how to find them

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As a venture capitalist and former startup founder living in Houston, I get asked a lot about the best way to find and connect with a venture capitalist in Houston. My usual advice is to start with a list, and reach out to everyone on that list. But no one has a comprehensive list. In fact, VCs are such a quiet bunch that I’ve yet to meet someone who personally knows everyone on this proverbial list.

So, I got together with a couple of VC friends of mine, and we put together our own Houston venture capitalist list.

There are, by our count, 11 active venture capital funds headquartered in Houston of any size and type, and outside of corporate venture capital and angel investors, there are 30 total venture capitalists running funds.

Houston has always been quite thin on the VC fund front. I’ve jokingly introduced myself for a while as “one of the 13 venture capitalists in Houston.”

Let’s put this scale in some brutal perspective. With 7.2 million people in the Greater Houston Metro Area, the odds of finding a partner level active venture capitalist in Houston is about 1 in 240,000, if you take a most expanded definition of venture capitalist that might come down to 1 in 100,000. We’re the fifth largest metropolitan area in the country with a tremendous economic engine; there is a ton of capital in Houston, but it’s residing in things like institutional fixed income and equities, real estate, wealth management, corporate, private equity, family office, energy and infrastructure Basically, mostly everywhere but in venture capital funds for tech startups.

By comparison, there are almost as many Fortune 500 CEOs in Houston — 24, by our count — as venture capitalists and fewer venture capitalists than Fortune 1000 CEOs, of which there are 43. That means running into a VC in the checkout line at HEB is about as rare as running into the CEO of CenterPoint, ConocoPhillips, or Academy. In fact, as there are 115 cities in the Greater Houston area, you are three times more likely to be a mayor in Greater Houston Area than a partner at an investor at a VC firm, and more likely to be a college or university president. While we’re at it, you’re 400 times more likely to be a lawyer, 250 times more likely to be a CPA, and over 650 times more likely to be a medical doctor.

Our 30 venture capitalists in the Greater Houston Area are spread across 20 firms and all major venture sectors and stages. Venture capitalist is defined for this list as a full time managing director or partner-level investment professional actively running a venture capital fund with limited partners, currently investing in new venture capital deals from their fund from seed to growth stage, and residing in the Greater Houston Metro area.

To get to 31 we added in a couple of people running venture set asides for PE funds, and a number who work from Houston for funds with no office here. We excluded CVCs, as the decision making is more corporate than individual and rarely includes the committed fund and carried interest structure that defines venture capital, and excluded professionals at angel networks, accelerators, and seed funds that provide investment, but don’t manage conventional venture capital funds, as well as PE funds that do the occasional venture deal. We might be able to triple the number if we include venture capitalists at any professional level, and add in those professionals at PE and angel and seed funds, and corporate venture capital teams who are actively investing. But we’ll get to those other sources of funding in the next list.

The 11 venture capital funds headquartered in Houston are: Mercury, Energy Transition Ventures (my fund), Montrose Lane (formerly called Cottonwood), Texas Medical Center Venture Fund, Artemis, New Climate Ventures, Fitz Gate Ventures, Curate Capital, Knightsgate Ventures, Amplo Ventures,and First Bight Ventures.

Another half a dozen firms have a partner level venture capital investor here, but are headquartered elsewhere: Energy Innovation Capital, Decarbonization Partners, 1984 Ventures, Altitude Ventures, Ascension Ventures, Moneta Ventures, and MKB & Co. Two others, CSL Ventures and SCF Partners, are local private equity funds with a venture capital partner in Houston and a dedicated allocation from a PE fund.

Culling these for partner or managing director level currently in Houston, in alphabetical order by first name, LinkedIn profile and all.

We may have missed a couple of VCs hiding in plain sight, as venture capital is a pretty dynamic business.

VCs are just rare. And yes, perhaps more rare in Houston than in California. Something less than 1 in 100 VCs in the country live in Houston. Across the US there are somewhere around 1,000 to 2,000 active venture capital firms, and maybe another 1,000 to 2,000 active US based CVCs — so, plus or minus maybe at most 4,000 to 5,000 currently active partner level venture capitalists in the country excluding CVC professionals (active VCs and VC funds are really hard to count).

Perhaps in the most stunning statistic, the 7,386 elected state legislators in the US today outnumber the total number of American venture capitalists. Luckily for startup founders, the venture capitalists are more likely to return your phone call.

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Neal Dikeman is a venture capitalist and seven-time startup co-founder investing out of Energy Transition Ventures. He’s currently hosting the Venture Capital for First Time Founders Series at the Ion, where ETV is headquartered.

Montrose Lane managing partners, Ryan Gurney (left) and Jeremy Arendt, have announced a rebrand and the closing of the new fund. Photos via montroselane.com

Houston venture group closes $64M fund and rebrands with new name

money moves

A Houston venture investment group has announced today that it has a new name to go along with the recent closing of its second fund.

Cottonwood Venture Partners, a Houston-based firm focused on funding startups with software solutions for the energy industry, has closed its $64 million Fund II and renamed itself Montrose Lane.

"Our mission is to uphold a creative and fast-moving approach to partnering with software companies that help make energy affordable, safe, and environmentally friendly," says Jeremy Arendt, managing partner, in a news release. "For several reasons, 'Montrose Lane' captures that vision for us."

The new name is effective immediately, and the leadership at the firm is remaining the same. Chicago-based Kirkland & Ellis LLP served as fund formation counsel to Montrose Lane.

Montrose Lane's second fund — which is double the size of its first — included both new and previous investors, as well as strategic corporations. Founded in 2017, the fund has raised about $100 million in commitments.

"We are humbled to have had such supportive partners behind us since we first set out to invest in technology companies changing the way the energy industry does business," says Ryan Gurney, managing partner, in the release. "The global pandemic has only accelerated the need to adopt digital solutions throughout the energy industry. We are excited to pursue the opportunity alongside our existing and new investors."

Last year, Montrose Lane led several Texas energy tech startups' funding round, including Austin-based HURVData Inc.'s $5 million series A round, Dallas-headquartered Trivie Inc.'s $5 million series A round, Houston-based Hitched.com's $5.5 million series A, and Houston-focused Ambyint's $15 million series B.

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California company to launch Walmart drone delivery in Houston

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California-based Wing will soon touch down in Houston.

The drone delivery company has partnered with Walmart Supercenters in Houston, Atlanta, Charlotte, Orlando and Tampa. According to a news release, Wing’s drone delivery services will be available at 100 Walmart stores across the selected markets by this time next year.

Wing also plans to expand to additional Walmart stores in Dallas-Fort Worth, where Wing and Walmart already serve customers from 18 Walmart Supercenters. Wing reports that it has completed thousands of deliveries from DFW-area Walmarts with an average fulfillment time of under 19 minutes. Wing and Walmart launched their first location in the Dallas area in the fall of 2023.

"The popularity of drone delivery in DFW is a testament not just to its convenience, but to the way this technology quickly becomes a part of everyday life,” Wing CEO Adam Woodworth said in the news release. “Walmart has been a strong partner that shares our commitment to innovation and is equally eager to bring this new type of service to many more households.”

Customers in Houston and the other markets in the latest expansion can visit wing.com/walmart to be notified when drone delivery becomes available in their area.

The service works similarly to any other online shopping platform, and users can select the exact location for the drone to drop off their package. Items are packaged in a specialized box that a Wing drone retrieves from Walmart. The drones cruise up to 65 mph and drop off the package outside a shopper's home.

“This is real drone delivery at scale,” Woodworth said in the release. “People all around the Dallas-Fort Worth Metroplex have made drone delivery part of their normal shopping habits over the past year. Now we’re excited to share this ultra-fast delivery experience with millions more people across many more U.S. cities.”

Houston team develops innovative soft skeleton for kids with cerebral palsy

health tech

A team from the NSF University of Houston Building Reliable Advances and Innovation in Neurotechnology (UH BRAIN) Center and TIRR Memorial Hermann has introduced the MyoStep soft exoskeleton for children with cerebral palsy, according to a news release from UH.

The soft skeleton aims to address motor impairments caused by cerebral palsy that impact children’s ability to participate in physical activities, self-care and academics.

“The MyoStep project represents a significant advancement in the field of pediatric mobility aids, particularly for children with cerebral palsy,” Jose Luis Contreras-Vidal, director of UH BRAIN and the Hugh Roy and Lillie Cranz Cullen Distinguished Professor of Electrical and Computer Engineering, said in a news release.

The next-generation lightweight, soft exoskeleton was funded by the IEEE Electron Devices Society (EDS) Award.

The MyoStep is made to be lightweight and discreetly fit under clothes. It includes a wireless sensor network embedded inside the smart and flexible fabrics that is the backbone of the suit and collects and sends real-time data about the user’s movements It also includes safety features with temperature monitoring and emergency shut-off mechanisms.

“By integrating cutting-edge technologies such as artificial muscles, smart fabrics, and a comprehensive sensor network, MyoStep offers a promising solution to the challenges faced by existing exoskeletons,” Contreras-Vidal said in a news release.

Cerebral palsy is a neurological disorder that impacts motor skills. It occurs in one to four out of every 1,000 births worldwide.

“What makes the MyoStep project so compelling is that it’s not just about the technology: it’s about restoring confidence, function, and hope,” Dr. Gerard Francisco, a clinical partner on the technology, The Wulfe Family Chair of Physical Medicine and Rehabilitation at UTHealth Houston and medical officer at TIRR Memorial Hermann, said in a news release. “This kind of innovation has the potential to dramatically improve quality of life, helping children move through the world with greater ease and dignity.”

Houston's 11 best places to work and more innovation news to know

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Editor's note: It's time to look back at the top business and innovation news for the first half of June 2025. Get the details on InnovationMap's most-read stories from June 1-13 below.

1. 11 Houston companies named best places to work by U.S. News

Chevron is one of the best places to work. Courtesy photo

Nearly a dozen public and private Houston-based companies have been hailed among the best places to work in 2025 by U.S. News and World Report.

The annual report examines thousands of companies around the world to determine the best employers based on six metrics including work-life balance and flexibility; quality of pay and benefits; job and company stability; career opportunities and professional development; and more. U.S. News included seven publicly-traded companies and four privately owned companies in Houston on the lists. Continue reading.

2. 2 Houston suburbs named among 10 best places to live by U.S. News & World Report

Pearland is the No. 2 best place to live in the U.S. Photo via pearlandedc.com

The Houston suburbs of Pearland and League City have landed among the top 10 best places to live in 2025, according to U.S. News & World Report.

Pearland ranked No. 3 nationwide, earning a 7.0 score alongside No. 1-winning Johns Creek, Georgia and No. 2 winner Carmel, Indiana. Pearland also landed on top of U.S. News separate rankings of the best places to live in Texas for 2025-2026. Continue reading.

3. Texas Space Commission doles out $5.8 million to Houston companies

Axiom Space and FluxWorks are the latest Houston-area companies to receive funding from the Texas Space Commission. Photo via Getty Images.

Two Houston-area companies have landed more than $5.8 million in funding from the Texas Space Commission. The commission granted up to $5.5 million to Houston-based Axiom Space and up to $347,196 to Conroe-based FluxWorks.

Axiom Space, a commercial spaceflight company, said the new funding will go toward the development of its orbital data center capabilities. Continue reading.

4. 3 Houston startups named most innovative in Texas by LexisNexis

Sage Geosystems is the No. 3 most innovative startup in Texas. Photo via sagegeosystems.com

Three Houston companies claimed spots on LexisNexis's 10 Most Innovative Startups in Texas report, with two working in the geothermal energy space.

Sage Geosystems claimed the No. 3 spot on the list, and Fervo Energy followed closely behind at No. 5. Fintech unicorn HighRadius rounded out the list of Houston companies at No. 8. Continue reading.

5. 9 can't-miss Houston business and innovation events for June

Don't miss these June events—from lightning pitches to a female-focused AI summit. Photo by Scott Halleran/Getty Images

From lightning pitches to a female-focused AI summit and energy conferences, there's still plenty to do as Houston settles into the summer. Here are the Houston business and innovation events you can't miss in June and how to register. Continue reading.

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