Houston-based oil and gas software company raises $1.6 million

Money moves

Houston-based M1neral has raised $1.6 million in an oversubscribed pre-seed round. Getty Images

A Houston energy tech startup that's digitally optimizing the minerals rights buying and selling process has closed an oversubscribed pre-seed financing round to the tune of $1.6 million.

M1neral's round was co-led by Amnis Ventures and Pheasant Energy, among a few other select investors and strategic partners. The company was co-founded by Jacob Avery, Kyle Chapman, and Shawn Cutter.

"Amnis Ventures is delighted to co-lead the current round of funding in M1neral. The founders come with deep knowledge of oil and gas, coupled with proven, delivered technology implementations in the energy space," says Manuel Silva III, president of Amnis Ventures Inc., in a press release. "The M1neral platform will bring age-old upstream oil and gas processes into the technology revolution of the 21st century that we have come to expect in other sectors."

M1neral's founders believe the mineral rights transaction process — akin to the real estate market in terms of the logistics — is ripe for a tech transformation, as it's been "stuck in the dark ages," according to the release.

"The mineral and royalty market is extensive in value but highly fractionated – over $500 billion in value spread across more than 12 million owners around the country," says Chapman, who serves as CEO, in the news release. "Add to that a lack of quality information and processes that are mostly manual, and it's easy to see what makes these transactions a painful and lengthy process."

M1neral's cloud-based platform acts as a one-stop shop for buyers. They can easily research opportunities and engage with sellers and service providers. The platform optimizes artificial intelligence and workflow automation to close deals quicker than traditional methods, Chapman says in the release.

"M1neral has identified, analyzed, and addressed significant issues on the technology side of the mineral and royalty market. Pheasant Energy has always taken a technology-driven approach and a partnership with M1neral was an obvious next step," says Ryan C. Moore, CEO of Pheasant Energy, in the news release. "The executive team at M1neral is well-versed in the industry and the challenges that both professionals and individual owners face on a daily basis. As the platform develops, everyone will understand the difference in vision with the M1neral team and the efficiencies that will be achieved with their product."
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Houston again recognized as a top major city of the future

Bragging rights

Houston, the future looks bright.

A new study from the fDi Intelligence division of the Financial Times places Houston at No. 7 among the top major cities of the future for 2021-22 across North, South, and Central America. Among major cities in the Americas, Houston appears at No. 3 for business friendliness and No. 4 for connectivity.

"Houston is known as one of the youngest, fastest-growing, and most diverse cities anywhere in the world. I am thrilled that we continue to be recognized for our thriving innovation ecosystem," Houston Mayor Sylvester Turner is quoted as saying in the fDi study.

Toronto leads the 2021-22 list of the top major cities in the Americas, followed by San Francisco, Montreal, Chicago, and Boston.

The rankings are based on data in five categories:

  • Economic potential
  • Business friendliness
  • Human capital and lifestyle
  • Cost effectiveness
  • Connectivity

Houston's no stranger to the list. Last year, the city ranked No. 3 on the same study, and in 2019, claimed the No. 5 spot.

"The fact that Houston consistently ranks among the top markets for foreign direct investment speaks to our region's connectivity and business-friendly environment," says Susan Davenport, chief economic development officer at the Greater Houston Partnership. "Many of the industry sectors we target for expansion and relocation in Houston are global in nature — from energy 2.0 and life sciences to aerospace and digital tech. The infrastructure and diverse workforce that make these prime growth sectors for us among domestic players are equally attractive to international companies looking to establish or strengthen ties in the Americas."

International trade is a cornerstone of the Houston area's economy. In 2020, the region recorded $129.5 billion in exports, according to the Greater Houston Partnership. China ranked as the region's top trading partner last year, followed by Mexico, Brazil, Korea, Germany, the Netherlands, India, Japan, the United Kingdom, and Italy.

Houston's role as a hub for foreign trade and international business "is likely to support the region's economic recovery in the months and years ahead," the partnership noted in May.

"We talk often of Houston as a great global city — one that competes with the likes of London, Tokyo, São Paulo, and Beijing. But that's only possible because of our infrastructure — namely our port — and our connections around the world," Bob Harvey, president and CEO of the partnership, said last month. "Houston's ties abroad remain strong."

Houston shopping center opts for buzzy new environmental project

bee's knees

Bees are glorious creatures, tasked with pollination and the no-big-deal duty of balancing our planet's ecosystem and keeping the circle of life moving. Oh, and the honey!

No surprise, then, that beekeeping is all the buzz. With that in mind, a local outlet center is launching its own honeybee colony on its rooftop. Tanger Outlets Houston is taking off with a new pollinator project, and the public is welcome to join and learn about these precious winged buddies. The project is a partnership with Alvéole, a social beekeeping company.

Expect educational bee workshops for retailers and shoppers, meant to reinforce the benefits of urban beekeeping. Resident beekeeper Evan Donoho Gregory will offer a hands-on, interactive experience designed to get shoppers sweet on honeybees and more connected to their environment, per a press release.

Gregory will also make regular visits to the center to maintain and care for the colonies; enthusiasts can follow along on social media.

A little about the hive: it's set up to allow the bees to pollinate the area's flora and thrive within a three-mile radius. At the height of the season, per press materials, each hive will contain up to 50,000 honeybees. That swarm will include some 90 percent worker bees (females) and 10 percent drones (males). Natch, each hive contains one queen bee. (There can be only one!)

With hope, the industrious honeybees will produce the equivalent of 100 jars of hyperlocal, artisanal honey per urban apiary. Tanger Outlets Houston plans to harvest the honey to share with its neighbors, per a release.

"Sharing the city with our winged neighbors is a simple, natural way to positively impact the environment," said Tanger Outlets marketing director Oliver Runco, in a statement. "We're eager to share the buzzworthy details of upcoming workshops that will educate our shoppers, brands and community on the critical role honeybees play in our ecosystem."

Bee fans can watch the progress, check out photos, videos, and upcoming beekeeper visit dates at MyHive Tanger Outlets Houston. For information on upcoming workshops, visit tangeroutlet.com/Houston and follow along on Facebook and Instagram.

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This article originally ran on CultureMap.

5 most popular innovation stories in Houston this week

what's trending

Editor's note: Another week has come and gone, and it's time to round up the top headlines from the past few days. Trending Houston tech and startup news on InnovationMap included innovators to know, a new autonomous delivery pilot, an European app makes a splash locally, and more.

Autonomous delivery company joins forces with FedEx for new pilot in Houston

FedEx and Nuro are bringing last-mile delivery to Houstonians. Photo courtesy of Nuro

A tech company with self-driving robots deployed across Houston delivering pizza, groceries, and more has yet again launched a new pilot program — this time focused on parcel delivery.

Nuro and FedEx announced a new partnership to deploy Nuro's technology for last-mile delivery at a large scale with FedEx.

"FedEx was built on innovation, and it continues to be an integral part of our culture and business strategy," says Rebecca Yeung, vice president of advanced technology and innovation at FedEx, in a news release. "We are excited to collaborate with an industry leader like Nuro as we continue to explore the use of autonomous technologies within our operations." Click here to read more.

3 Houston innovators to know this week

This week's roundup of Houston innovators includes Juliana Garaizar of Greentown Houston, Misha Govshteyn of MacroFab, and Kerri Smith of the Rice Alliance. Courtesy photos

In this week's roundup of Houston innovators to know, I'm introducing you to two local innovators, as well as one honorary Houstonian, across industries — energy, manufacturing, and more — recently making headlines in Houston innovation. Click here to read more.

Splashy European pool-sharing app dives into Houston just in time for summer

Houston pools like this are available to rent through Swimmy. Photo courtesy of Swimmy

Scorching temps. Baking cars. ERCOT begging locals to set their thermostats to 78 (say what?). Why, it's almost like it's summer in Houston or something.

After a long sweat, nothing cools off like a long swim in a sparkling pool. To that end, a European pool-sharing service is diving into Houston, allow H-Towners to visit safe, secure spaces that come certified and ready to make a splash.

Dubbed Swimmy, the app (available for download on Apple and Android) connects swimmers and sunbathers with pool rentals in their area. Booking sessions range by pool between $25-$35 per person per half day, per a release. Click here to read more.

Greentown Houston names local leader as climate tech enters 'perfect storm' for the energy transition

Juliana Garaizar is transitioning her role at Greentown Houston. Courtesy photo

When Greentown Labs opened its doors in Houston on Earth Day this year, Launch Director Juliana Garaizar had worked diligently with the Greentown team in Boston and Houston to make that day possible. Now, she's preparing for her next role within the organization.

Garaizar — who has worked in Houston over the past several years at organizations like the Houston Angel Network, TMC Innovation, Portfolia, and more — is transitioning into her new role as head of Greentown Houston and vice president of innovation for Greentown Labs. Click here to read more.

Houston researchers snag government funds for net-zero emissions projects

Both Rice University and the University of Houston were selected by the Department of Energy to receive funds for ongoing research projects. Photo via Getty Images

Rice University and the University of Houston were two of four national institutions to receive sizable grants from the Department of Energy last month to go toward the research and development of projects that will improve CO2 storage to help move the country toward the goal of net-zero emissions by 2050.

Each of the four projects works to advance long-term, commercial-scale geologic sequestration of CO2. According to a release from the DOE, the process of carbon capture and storage (known as CSS) separates and captures CO2 from the emissions of industrial processes before it is released into the atmosphere. Once captured, the CO2 is then injected into deep underground geologic formations, known as caprock. Click here to read more.

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