Here's what Houston startups have raised in funding so far this year

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It's not quite of strong of a start for Houston startups raising venture capital funding compared to last year. Photo via Getty Images

While Houston startups saw a busy first quarter of 2023 — including IPOs in the space and biotech arenas — funding activity fell somewhat flat.

According to InnovationMap reporting, five startups have raised funding this year so far — which is less than half of the number of deals at the same time last year. Last year in the first quarter, 11 startups announced funding deals to the tune of $140 million. This year, startups raised around $106 million across five deals.

Tech-enabled manufacturing startup based in Houston secures $42M in growth financing

MacroFab has secured fresh investment to the tune of $42 million. Photo via macrofab.com

A Houston company has nearly doubled its total raised with its latest funding round.

MacroFab, a Houston-based electronics manufacturing platform, has announced $42 million in new growth capital led by Foundry and joined by BMW i Ventures, as well as existing investors Edison Partners and ATX Venture Partners. The platform was first launched by Misha Govshteyn and Chris Church in 2015.

“Given MacroFab’s compelling solutions to electronics manufacturing challenges and Foundry’s successful history with parallel companies, our investment is a perfect fit," Foundry Partner Seth Levine says in a news release. "This is a unique opportunity to be part of next generation cloud manufacturing and we’re excited to be joining forces with Misha and his team." Read the full story.

Houston e-commerce company raises another $40M round to support growth

P97 Networks has again raised $40 million to support its growth. Photo via Getty Images

For the second time in just over a year, a Houston business that provides mobile commerce and digital marketing to the mobility and fuel industries has raised $40 million.

P97 Networks, which has developed a cloud-based mobile commerce platform that helps brands securely do business with customers, announced that it has closed its series C round at $40 million. The equity financing round was led by Portage and included participation from existing investors. The fresh funding will go to support growth strategy.

"In this highly connected world, retail brands are looking for new ways to increase consumer engagement — the power of network effects in the digital world will be a key contributor to revenue growth and margins," says Donald Frieden, CEO of P97 Networks, in a news release. "With consumers of all ages further adopting mobile payment solutions, we are proud to have built the leading connected commerce and digital marketing platform for the convenience retail, energy marketing, and transportation industry." Read the full story.

Houston med device startup raises $18M, prepares to hire

BiVACOR has received fresh funding from its investors to further develop its artificial heart. Photo courtesy of BiVACOR

A Houston medical device company that is developing an artificial heart announced it has received investment funding to the tune of $18 million.

BiVACOR's investment round was led by Boston-based Cormorant Asset Management and Australia's OneVentures's Healthcare Fund III. According to the company, the funding will be deployed to continue research and development, hiring executives, and support the path to first in human trials.

“We are extremely grateful for the ongoing support from our core investors," says Thomas Vassiliades, who was named CEO of BiVACOR last year, in a news release. "This additional commitment further validates our technology and the need for improved options to treat end-stage biventricular heart failure." Read the full article.

Houston health tech company closes $3M series A

Prana Thoracic, an innovative startup in the lung cancer diagnostics space, has raised its series A round of investment. Photo via LinkedIn

It's been just under six months since the launch of Prana Thoracic, a Houston health tech startup tackling lung cancer diagnostics, and the company has already secured its next round of investment funding.

Prana Thoracic, a medical device company developing a tool for early interception of lung cancer, announced last week that it closed a $3 million series A financing round led by Florida-based New World Angels with participation from Johnson & Johnson Innovation – JJDC, Inc., Texas Medical Center Venture Fund, and the University City Science Center’s Phase 1 Ventures.

In August, the company received a $3 million award from the Cancer Prevention & Research Institute of Texas. All of Prana Thoracic's funding is being used to develop the unique diagnostic product and the company's path to first-in-human clinical studies.

“Our technology provides a definitive answer to patients with lung nodules and allows physicians to intervene earlier in the lung cancer patient’s journey,” says Joanna Nathan, CEO, and co-founder of Prana, in a news release. “Our team is grateful to have the support of our investors and excited to leverage this financing to accelerate our technology to the bedside.” Read the full story.

Houston climate tech startup closes $3M seed led by Shell

DexMat, a Houston-based materials science startup with tech originating at Rice University, has raised $3 million. Image via Getty Images

A material science startup with technology originating at Rice University has announced it has closed its seed round of funding.

DexMat raised $3 million in funding in a round led by Shell Ventures with participation from Overture Ventures, Climate Avengers and several individuals. The company transforms hydrocarbons, renewable fuels, and captured carbon into its flagship product Galvorn.

“DexMat presents an opportunity to capture methane, an abundant and inexpensive resource, and use it to replace materials such as steel, aluminum, and copper with a more sustainable option. We are excited to be part of DexMat’s journey going forward and to realize their ambitions,” says Aimee LaFleur, investment principal at Shell, in a news release.Read the full story.

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3 Houston-area companies appear on Fortune’s inaugural AI ranking

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Three companies based in the Houston area appear on Fortune’s inaugural list of the top adopters of AI among Fortune 500 companies.

The three companies are:

  • No. 7 energy company ExxonMobil, based in Spring
  • No. 7 tech company Hewlett Packard Enterprise, based in Spring
  • No. 47 energy company Chevron, based in Houston

All three companies have taken a big dive into the AI pool.

In 2024, ExxonMobil’s executive chairman and CEO, Darren Woods, explained that AI would play a key role in achieving a $15 billion reduction in operating costs by 2027.

“There is a concerted effort to make sure that we're really working hard to apply that new technology to the opportunity set within the company to drive effectiveness and efficiency,” Woods told Wall Street analysts.

Hewlett Packard Enterprise is also employing AI to decrease costs. In March, the company announced a restructuring plan — including the elimination of 3,000 jobs — aimed at cutting about $350 million in annual expenses. The restructuring is scheduled to wrap up by the end of October.

Hewlett Packard Enterprise’s Catalyst cost-cutting program includes a push to use AI across the company to improve efficiency, Marie Myers, the company’s executive vice president and chief financial officer, told Wall Street analysts in June.

“Our ambition is clear: A leaner, faster, and more competitive organization. Nothing is off limits. We are focused on rethinking the business — not just reducing our costs, but transforming the way we operate,” Myers said.

At Chevron, AI tools are being used to quickly analyze data and extract insights from it, according to tech news website VentureBeat. Also, Chevron employs advanced AI systems known as large language models (LLMs) to create engineering standards, specifications and safety alerts. AI is even being put to work in Chevron’s exploration initiatives.

Bill Braun, Chevron’s chief information officer, said at a VentureBeat-sponsored event in 2024 that AI-savvy data scientists, or “digital scholars,” are always embedded within workplace teams “to act as a catalyst for working differently.”

The Fortune AIQ 50 ranking is based on ServiceNow’s Enterprise AI Maturity Index, an annual measurement of how prepared organizations are to adopt and scale AI. To evaluate how Fortune 500 companies are rolling out AI and how much they value AI investments, Fortune teamed up with Enterprise Technology Research. The results went into computing an AIQ score for each company.

At the top of the ranking is Alphabet (owner of Google and YouTube), followed by Visa, JPMorgan Chase, Nvidia and Mastercard.

Aside from ExxonMobil, Hewlett Packard Enterprise, and Chevron, two other Texas companies made the list: Arlington-based homebuilder D.R. Horton (No. 29) and Austin-based software company Oracle (No. 37).

“The Fortune AIQ 50 demonstrates how companies across industry sectors are beginning to find real value from the deployment of AI technology,” Jeremy Kahn, Fortune’s AI editor, said in a news release. “Clearly, some sectors, such as tech and finance, are pulling ahead of others, but even in so-called 'old economy' industries like mining and transport, there are a few companies that are pulling away from their peers in the successful use of AI.”

2 UH projects named finalists for $50M fund to shape future of Gulf Coast

Looking to the Future

Two University of Houston science projects have been selected as finalists for the Gulf Futures Challenge, which will award a total of $50 million to develop ideas that help benefit the Gulf Coast.

Sponsored by the National Academies of Science, Engineering and Medicine’s Gulf Coast Research Program and Lever for Change, the competition is designed to spark innovation around problems in the Gulf Coast, such as rising sea levels, pollution, energy security, and community resiliency. The two UH projects beat out 162 entries from organizations based in Alabama, Florida, Louisiana, Mississippi, and Texas.

“Being named a finalist for this highly competitive grant underscores the University of Houston’s role as a leading research institution committed to addressing the most pressing challenges facing our region,” said Claudia Neuhauser, vice president for research at UH.

“This opportunity affirms the strength of our faculty and researchers and highlights UH’s capacity to deliver innovative solutions that will ensure the long-term stability and resilience of the Gulf Coast.”

One project, spearheaded by the UH Repurposing Offshore Infrastructure for Continued Energy (ROICE) program, is studying ways to use decommissioned oil rig platforms in the Gulf of Mexico as both clean energy hydrogen power generators as well a marine habitats. There are currently thousands of such platforms in the Gulf.

The other project involves the innovative recycling of wind turbines into seawall and coastal habitats. Broken and abandoned wind turbine blades have traditionally been thought to be non-recyclable and end up taking up incredible space in landfills. Headed by a partnership between UH, Tulane University, the University of Texas Health Science Center at Houston, the city of Galveston and other organizations, this initiative could vastly reduce the waste associated with wind farm technology.

wind turbine recycled for Gulf Coast seawall. Wind turbines would be repurposed into seawalls and more. Courtesy rendering

"Coastal communities face escalating threats from climate change — land erosion, structural corrosion, property damage and negative health impacts,” said Gangbing Song, Moores Professor of Mechanical and Aerospace Engineering at UH and the lead investigator for both projects.

“Leveraging the durability and anti-corrosive properties of these of decommissioned wind turbine blades, we will build coastal structures, improve green spaces and advance the resilience and health of Gulf Coast communities through integrated research, education and outreach.”

The two projects have received a development grant of $300,000 as a prize for making it to the finals. When the winner are announced in early 2026, two of the projects will net $20 million each to bring their vision to life, with the rest earning a consolation prize of $875,000, in additional project support.

In the event that UH doesn't grab the grand prize, the school's scientific innovation will earn a guaranteed $1.75 million for the betterment of the Gulf Coast.

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This article originally appeared on CultureMap.com.

Kids, kicks and connectivity: Xfinity makes soccer a shared experience

The Beautiful Game

For soccer mom Lana Chase, weekends were a whirlwind of cleats, carpooling, and cheering from the sidelines. Now that her daughter Miah graduated high school in May, the Chase Family’s love for the game hasn't stopped. It's shifted to their living room, where Comcast’s new Xfinity streaming platform brings the global game home.

“We’re a soccer family through and through,” says Chase. “Miah played soccer from about age 8 until 16, and we love the World Cup! Xfinity makes it easy for all of us to watch what we love together.”

One platform, every goal

Xfinity's new World Soccer Ticket package eliminates the chaos of juggling apps, subscriptions, or subpar streams. Families can now enjoy more than 1,500 matches from across the globe.

With parental controls, age-appropriate content, and smart recommendations, Xfinity turns soccer into family-friendly entertainment. Whether it’s a weekend watch party or a quiet school night, the platform adapts to every household’s rhythm.

“Figuring out where to watch your favorite team or match is often a painful game of chance. Now, with World Soccer Ticket, there’s no better way to watch the beautiful game than with Xfinity,” says Jon Gieselman, chief growth officer for Comcast's connectivity & platforms. “It’s easy, we did the work for our customers and pulled together the most coveted leagues and tournaments – from Premier League, LALIGA and Champions League to the World Cup – and put them in one place. We added some magic to the experience, with innovations like Multiview, 4K, and Sports Zone all easily accessible with one simple click or voice command.”

World Cup in Houston

With the 2026 World Cup on the horizon, the timing couldn't have been better. The world tournament will be the largest Spanish-language coverage ever offered by Telemundo, powered by Comcast NBCUniversal's technology, storytelling, and scale.

Telemundo and Peacock hold the exclusive Spanish language rights to "el Mundial," including all 104 matches streaming live on Peacock, with 92 matches airing on Telemundo and 12 on Universo. Live crews will cover every event in all 16 host cities, including Houston.

Xfinity customers will have access to pregame, halftime, and postgame coverage with unprecedented immersive experiences. The 2026 World Cup will be the most exciting event of the summer.

"We know other soccer families who watch matches with their little brothers and sisters. It’s not just a game, it’s family time. It's an even bigger deal with the tournament being just down the road in Houston next year,” Chase adds.

Comcast’s AI-powered platform personalizes the viewing experience, recommending matches and highlights based on each family member’s preferences.

World Soccer Ticket is available for an all-in monthly price of $85. It includes nearly 60 broadcast, cable news, and English- and Spanish-language sports channels, and a subscription to Peacock Premium so customers can enjoy a huge collection of movies, shows, news, and other live sports alongside all their favorite soccer programming.

Subscribe to World Soccer Ticket here.

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