Houston superconductor tech manufacturer raises $25M

fresh funding

A Houston company has raised funding. Photo via Getty Images

A Houston company has closed its series B extension at $25 million.

MetOx International, which develops and manufactures high-temperature superconducting (HTS) wire, announced it closed a $25 million series B extension. Centaurus Capital, an energy-focused family office, and New System Ventures, a climate and energy transition-focused venture firm, led the round with participation from other investors.

"MetOx has developed a robust and highly scalable operation, and we are thrilled to partner with the Company as it enters this pivotal growth stage," says John Arnold, founder of Centaurus, in a news release. "The market for HTS is expanding at an unprecedented pace, with demand for HTS far outweighing supply. MetOx is poised to be the leading U.S. HTS producer, closing the supply gap and bringing dramatic capacity to high power innovations and applications. Their progress and potential are unmatched in the field, and we are proud to support their growth."

The fresh funding will go toward advancing the company's Xeus HTS wire technology for key energy transition applications by expanding MetOx's U.S.-based manufacturing capabilities to meet demand.

"This funding marks a pivotal step in our mission to revolutionize the energy and technology sectors with our advanced power delivery technology and accelerate delivery for our customers and partners. HTS is critical to enhancing the efficiency of our electric grid and enabling technological developments that, in many cases, would not be viable or even possible without superconductor technology," adds Bud Vos, CEO of MetOx. "Support from investors such as Centaurus and NSV not only provides the financial resources and strategic support required for accelerated scaleup, but also validates the broad reach of our technology across energy, data center, medical, and defense industries."

HTS wire technology is critical for the energy transition, especially amid rising data center growth, and for next generation wind turbines and interconnections.

MetOx's technology originated out of the University of Houston and was founded in 1998 by Alex Ignatiev, UH professor emeritus of physics and a fellow of the National Academy of Inventors. Last year, the company secured $3 million in funding from the U.S. Department of Energy to support the advancement of its proprietary manufacturing technology for its HTS wire.

"MetOx's HTS technology aligns with our systems-level research and offers a unique opportunity to dramatically accelerate the energy transition," says Ian Samuels, founder and managing partner at NSV. "MetOx's Xeus wire stands to be a force multiplier in clean energy generation and high-power transmission and distribution, enabling load growth and the deployment of power-dense data centers. NSV is excited to support MetOx as it scales domestic manufacturing capacity."

The fresh funding will go toward advancing the company's Xeus HTS wire technology. Photo via metoxtech.com

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Houston edtech company closes oversubscribed $3M seed round

fresh funding

Houston-based edtech company TrueLeap Inc. closed an oversubscribed seed round last month.

The $3.3 million round was led by Joe Swinbank Family Limited Partnership, a venture capital firm based in Houston. Gamper Ventures, another Houston firm, also participated with additional strategic partners.

TrueLeap reports that the funding will support the large-scale rollout of its "edge AI, integrated learning systems and last-mile broadband across underserved communities."

“The last mile is where most digital transformation efforts break down,” Sandip Bordoloi, CEO and president of TrueLeap, said in a news release. “TrueLeap was built to operate where bandwidth is limited, power is unreliable, and institutions need real systems—not pilots. This round allows us to scale infrastructure that actually works on the ground.”

True Leap works to address the digital divide in education through its AI-powered education, workforce systems and digital services that are designed for underserved and low-connectivity communities.

The company has created infrastructure in Africa, India and rural America. Just this week, it announced an agreement with the City of Kinshasa in the Democratic Republic of Congo to deploy a digital twin platform for its public education system that will allow provincial leaders to manage enrollment, staffing, infrastructure and performance with live data.

“What sets TrueLeap apart is their infrastructure mindset,” Joe Swinbank, General Partner at Joe Swinbank Family Limited Partnership, added in the news release. “They are building the physical and digital rails that allow entire ecosystems to function. The convergence of edge compute, connectivity, and services makes this a compelling global infrastructure opportunity.”

TrueLeap was founded by Bordoloi and Sunny Zhang and developed out of Born Global Ventures, a Houston venture studio focused on advancing immigrant-founded technology. It closed an oversubscribed pre-seed in 2024.

Texas space co. takes giant step toward lunar excavator deployment

Out of this world

Lunar exploration and development are currently hampered by the fact that the moon is largely devoid of necessary infrastructure, like spaceports. Such amenities need to be constructed remotely by autonomous vehicles, and making effective devices that can survive the harsh lunar surface long enough to complete construction projects is daunting.

Enter San Antonio-based Astroport Space Technologies. Founded in San Antonio in 2020, the company has become a major part of building plans beyond Earth, via its prototype excavator, and in early February, it completed an important field test of its new lunar excavator.

The new excavator is designed to function with California-based Astrolab's Flexible Logistics and Exploration (FLEX) rover, a highly modular vehicle that will perform a variety of functions on the surface of the moon.

In a recent demo, the Astroport prototype excavator successfully integrated with FLEX and proceeded to dig in a simulated lunar surface. The excavator collected an average of 207 lbs (94kg) of regolith (lunar surface dust) in just 3.5 minutes. It will need that speed to move the estimated 3,723 tons (3,378 tonnes) of regolith needed for a lunar spaceport.

After the successful test, both Astroport and Astrolab expressed confidence that the excavator was ready for deployment. "Leading with this successful excavator demo proves that our technology is no longer theoretical—it is operational," said Sam Ximenes, CEO of Astroport.

"This is the first of many implements in development that will turn Astrolab's FLEX rover into the 'Swiss Army Knife' of lunar construction. To meet the infrastructure needs of the emerging lunar economy, we must build the 'Port' before the 'Ship' arrives. By leveraging the FLEX platform, we are providing the Space Force, NASA, and commercial partners with a 'Shovel-Ready' construction capability to secure the lunar high ground."

"We are excited to provide the mobility backbone for Astroport's groundbreaking construction technology," said Jaret Matthews, CEO of Astrolab, in a release. "Astrolab is dedicated to establishing a viable lunar ecosystem. By combining our FLEX rover's versatility with Astroport's civil engineering expertise, we are delivering the essential capabilities required for a sustainable lunar economy."

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This article originally appeared on CultureMap.com.

Houston biotech co. raises $11M to advance ALS drug development

drug money

Houston-based clinical-stage biotechnology company Coya Therapeutics (NASDAQ: COYA) has raised $11.1 million in a private investment round.

India-based pharmaceuticals company Dr. Reddy’s Laboratories Inc. led the round with a $10 million investment, according to a news release. New York-based investment firm Greenlight Capital, Coya’s largest institutional shareholder, contributed $1.1 million.

The funding was raised through a definitive securities purchase agreement for the purchase and sale of more than 2.5 million shares of Coya's common stock in a private placement at $4.40 per share.

Coya reports that it plans to use the proceeds to scale up manufacturing of low-dose interleukin-2 (IL-2), which is a component of its COYA 302 and will support the commercial readiness of the drug. COYA 302 enhances anti-inflammatory T cell function and suppresses harmful immune activity for treatment of Amyotrophic Lateral Sclerosis (ALS), Frontotemporal Dementia (FTD), Parkinson’s disease and Alzheimer’s disease.

The company received FDA acceptance for its investigational new drug application for COYA 302 for treating ALS and FTD this summer. Its ALSTARS Phase 2 clinical trial for ALS treatment launched this fall in the U.S. and Canada and has begun enrolling and dosing patients. Coya CEO Arun Swaminathan said in a letter to investors that the company also plans to advance its clinical programs for the drug for FTD therapy in 2026.

Coya was founded in 2021. The company merged with Nicoya Health Inc. in 2020 and raised $10 million in its series A the same year. It closed its IPO in January 2023 for more than $15 million. Its therapeutics uses innovative work from Houston Methodist's Dr. Stanley H. Appel.

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