Houston-based gig economy startup raises $1.2M, launches beta platform

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Madison Long, left, and Simone May co-founded Clutch to democratize side gig success on college campuses. Photo courtesy of Clutch

Two Houstonians on a mission to enable safe and equitable entrepreneurship on college campuses have launched a new beta platform and closed pre-seed funding.

Clutch, a digital marketplace startup founded by Simone May and Madison Long, closed its pre-seed round of funding at $1.2 million – led by Precursor Ventures and other partners such as Capital Factory and HearstLab. The investment from this round will support Clutch’s national open beta launch of its platform for brands and student creators nationwide and its continued investment in customer and product strategy.

“We are at this inflection point where marketing is changing,” May says in a press release. “We know that the next generation can clearly see that and I think a lot of marketing agencies are starting to catch on. We need to be prioritizing the next generation’s opinion because they are driving who is interested in what they buy. This upcoming generation does not want to be sold to and they don’t like inorganic, inauthentic advertisements. That’s why user generated content is so big, it feels authentic.”

Originally founded as Campus Concierge before rebranding as Clutch, the company has grown the business to 200 vetted student creators – 75 percent of whom are people of color.

“We have a huge passion for democratizing access to ensure that people who look like us also make money that supports their lifestyle in a meaningful way,” says May, who is also CTO of Clutch.

The company was a member of DivInc's inaugural Houston accelerator cohort in 2021, which May says helped the company develop its pitch deck, financial models and pushed the team to think about what it means to be a startup.

“Madison and Simone have an incredible vision for Clutch that they are bringing to life,” said Preston James, CEO and Founder of DivInc in a statement. “[…] Clutch is a life changer for so many. We’re thrilled to be part of their journey as an investor and partner, and very excited to see their continued growth and success.”

Looking ahead, Clutch wants to grow and enhance the team – wanting to take the platform to the next level by finding new means of selling its services. In addition, it wants to become a place for support and a resource to help the freelance lifestyle – connecting their content creators with a centralized market for retirement funds, investments, health care and all things they may require.

“The next generation is one that craves flexible, empowering and meaningful work that supports their balanced lifestyle,” says Long, who serves as CEO. “We want to be a force for the next generation in the changing landscape of what it means to be successful in your career to something that is dynamic, ever-changing and on your own terms.”

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London AI startup selects Houston for first U.S. office after $20M raise

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London-based AI firm Applied Computing has announced a $20 million Series A round and a new office in Houston.

The new Bayou City office is Applied Computing’s first in the United States and part of its North American expansion. The company is known for its Orbital AI platform, which is tailored for energy operations.

The funding round was led by Houston-based KBR Inc., with participation from San Francisco-based Databricks Ventures. KBR’s investment was first announced in March.

KBR and Applied Computing have also entered into a multi-year agreement to deliver exclusive AI products for the energy sector. KBR already has integrated Orbital into its INSITE 3.0 platform for energy projects, and is also using the product for ammonia production.

Applied Computing’s Orbital platform combines physics-grounded intelligence with models across chemical engineering, time-series forecasting and language, according to the company. The system analyzes sensor readings and can recognize a facility’s equipment constraints and operator activity. The platform can also allow technicians to run simulations of how a change to a facility could affect the rest of its operations.

According to TechCrunch, Applied Computing will use the $20 million to further explore projects and deployments with the energy sector, hire engineering and research positions, and continue to expand internationally, potentially into the Middle East.

The company is also working on deals with a major U.S. stream operator, TechCrunch reports. And Applied Computing shared on LinkedIn that it plans to announce its first partnership with a major European oil company in the coming weeks.

“Yesterday we showed Orbital live in deployments at our demo day at the Energy Institute in London,” Callum Adamson, CEO and co-founder of Applied Computing, posted on LinkedIn on July 16. “Today, we're announcing the capital to scale it globally as well as the launch of our new offices in Houston and Bangalore. In the weeks following, there will be more announcements on our progress, partnerships and deployments.”

The company opened its Bangalore offices in December.

Texas is no longer America's No. 1 most financially distressed state

Report Rebound

After spending an unfortunate year as the No. 1 state with the most people in financial distress, Texas has slightly recovered. But the Lone Star State isn't out of the woods yet: it's still among the five most financially distressed states in America for 2026.

According to WalletHub's 2026 report, Texas sits in the No. 4 spot this year, while Kansas, Louisiana, and Florida moved up to become the top three states with the most financially distressed residents.

The personal finance website's experts compared all 50 states based on residents' average credit scores, the share of people with "accounts in distress" (meaning an account that's in forbearance or has deferred payments), the one-year change in bankruptcy filings from March 2025, and search interest indexes for "debt" and "loans."

Despite improving in the overall ranking, the study found Texas has had the fourth-biggest spike in bankruptcy filings nationally from March 2025 to March 2026. Texas residents also have the 10th worst average credit scores in the country, according to the findings.

This is how Texas ranked across the study's six key dimensions, where No. 1 means "most distressed:"

  • No. 4 – Change in bankruptcy filings from March 2024 to March 2025 rank
  • No. 5 – Average number of accounts in distress rank
  • No. 8 – "Loans" search interest index rank
  • No. 8 – People with accounts in distress rank
  • No. 12 – Credit score rank
  • No. 13 – “Debt” search interest index rank

It feels like inflation and affordability have been top-of-mind for many Americans over recent years, and uncertainty around the national economy also adds another level of distress. That's especially true for Houston residents, which were dubbed the second most financially distressed people in America earlier in 2026.

"Americans have faced significant financial challenges in recent years, as inflation, shifting unemployment levels, public health emergencies, and natural disasters have made it more difficult for many households to stay on top of their bills," the report said.

The top three states that have the least financially distressed residents are Maine (No. 50), Rhode Island (No. 49), and Hawaii (No. 48).

The top 10 most financially distressed states in America for 2026 are:

  • No. 1 – Kansas
  • No. 2 – Lousiana
  • No. 3 – Florida
  • No. 4 – Texas
  • No. 5 – South Carolina
  • No. 6 – Wyoming
  • No. 7 – Georgia
  • No. 8 – California
  • No. 9 – North Carolina
  • No. 10 – Kentucky
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A version of this article originally appeared on CultureMap.com.

European spacecraft developer expands to Houston with U.S. business, new lab

houston hq

European aerospace manufacturer The Exploration Company has established its first U.S. entity and named Space City as its headquarters.

The company announced earlier this month that it has launched TEC Federal to support U.S. government customers and agencies, and to scale The Exploration Company's engineering operations in the country.

Mark Kirasich serves as president of TEC Federal. Kirasich most recently served as the senior director of human spaceflight at Blue Origin after a nearly 40-year career at NASA.

The Exploration Company is developing the reusable Nyx space vehicle. Nyx is designed to take off from any heavy launcher in the world. It will then dock at space stations, retrieve up to 3,000 kilograms of cargo, splash down and return the cargo to Earth. The company aims to make Nyx fully reusable for up to 10 missions, making it a more affordable and sustainable option for aerospace missions.

The Exploration Company completed a successful drop test of the spacecraft in May in the Mojave Desert. The company says Nyx is slated to perform its first flight demonstration in 2028.

In addition to launching the Houston business, The Exploration Company also opened its new Rapid Innovation Lab near Houston's NASA Johnson Space Center on Space Park Drive.

The Exploration Company opened its Rapid Innovation Lab earlier this month. Photo via LinkedIn

The Rapid Innovation Lab features a full-scale mockup of the future Nyx crew capsule as well as ongoing development and testing of the Nyx cargo capsule, according to the company.

The Exploration Company says the new lab will allow its engineers, designers, and operators to prototype and test crew interfaces. It will also support partnerships with NASA personnel and astronauts.

“Houston gives us direct access to the people and expertise that have built and operated human spaceflight systems for decades. We’re excited to invest and expand around that— engineers, operators, and astronauts working together and moving quickly towards building a crew capsule.” Hélène Huby, founder and CEO of The Exploration Company, said in a blog post.

According to The Houston Chronicle, The Exploration Company has about 30 employees in the Houston area.

The company was founded in 2021 by Huby, a French rocket scientist, and has raised more than $350 million in venture capital. It operates out of Germany, France, Luxembourg, Spain and Italy, with offices in the U.S. and the United Arab Emirates. It is also developing a reusable, high-thrust rocket engine known as Storm.

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