Houston medical device startup closes $6M series A

money moves

This innovative medical device company has closed $6 million for further product development and clinical trials. Image via Getty Images

A Houston-based medical device company born out of the Texas Medical Center has closed its series A round of funding.

Ictero Medical's oversubscribed $6 million round was led by MedTex Ventures, S3 Ventures, and an undisclosed strategic investor, according to a news release. The company's novel cryoablation system was designed to treat high-risk gallstone disease patients and provide a less invasive and lower risk alternative to gallbladder removal surgery — something over 1 million Americans undergo annually.

“Our technology provides an immediate solution for critically ill patients who currently have no good treatment options, and also has the potential to benefit healthier patients who want to avoid surgery,” says Ictero Co-Founder and CEO Matthew Nojoomi in the release.

Recently, Ictero Medical entered into a partnership with Houston medical device development firm Biotex. The collaboration provides the company with engineering resources and in-house manufacturing tools. Ictero also received capital support from MedTex Ventures through its Biotex Medical Device Fund.

“We are excited about working with the Ictero team to advance its technology, which we believe can significantly improve patient experiences and outcomes by providing a non-surgical alternative to treating gallbladder disease,” says Biotex CEO Ashok Gowda in the release.

The fresh funds will be put toward further product development and initial clinical testing.

“MedTex Ventures is enthusiastic about Ictero’s novel cryoablation technology and its potential to solve the unmet need of inoperable patients with gallbladder disease,” says John Fichthorn, CIO of MedTex Ventures, in the news release. “Equally important is the team. We believe the combination of Ictero and Biotex’s technical capabilities, alongside the support from key investors with commercial experience, such as S3 Ventures, position the company for long term success.”

Ictero was founded as a part of the Texas Medical Center’s Biodesign Fellowship program in 2018. Since launch, the company has received a Phase I NSF grant and closed a $1 million seed round co-led by the Texas Medical Center Venture Fund and Texas HALO Fund.

“Ictero is at the forefront of pioneering cryotherapy for gallstone disease, and S3 Ventures is excited about the potential for Ictero’s novel solution to rapidly bring an impactful outcome to patients,” says Kim Rodriguez, venture partner at S3, in the release. “Our research suggests a substantial opportunity to help patients suffering from gallstone disease who are dependent on drainage catheters or too sick for surgery. We are joining a solid investment syndicate in supporting a very capable team.”

Here are five quick Houston innovation stories — from fundraising to strategic partnerships. Photo via Getty Images

Houston startup raises money, Texas VC closes fund, and more local innovation news

short stories

Houston innovators had no need to beware the ides of March this year. With all the excitement from SXSW, CERAWeek, and Houston Tech Rodeo this month, there might be some headlines you may have missed.

In this roundup of short stories within Houston startups and tech, Houston startups announce new funding and partnerships, while a Texas VC raises its largest fund yet.

Tekmetric closes recent fundraising round

A Houston software company has raised an undisclosed amount of funding. Photo via tekmetric.com

Tekmetric, a cloud-based shop management system for automotive repair shops, announced the close of its growth investment from California-based Susquehanna Growth Equity. The details of the round were not disclosed, but, according to a news release, the fresh funds will go toward growing Tekmetric's engineering and technical teams and expansion across the United States.

Launched three years ago by Prasanth Chilukuri and Sunil Patel, co-founders and co-CEOs, Tekmetric's SaaS solution provides shop owners with digital inspections, integrated payments, and more of their business needs.

“Since our launch in 2016, Tekmetric has always aspired to deliver the greatest possible value to auto repair shop owners who partner with us to run their business,” says Chilukuri in the release. “Susquehanna’s deep industry expertise and support of product-led growth makes the company an ideal partner as we scale our business, boosting our platform’s advanced products and providing the highest caliber of service for our customers.”

The platform provides both convenience and security for its users.

“As a former shop owner myself, I know how difficult it can be to find a system like Tekmetric that shop owners can trust with their business,” says Patel. “At Tekmetric, we strive to build strong relationships with our users to support their business growth. The SGE team has the same mindset, which makes them an ideal partner as Tekmetric continues to grow in the industry.”

The Postage taps new financial planning partner

The Postage has a new strategic partner. Photo courtesy of The Postage

Houston-based legacy and estate planning software platform The Postage has announced a new partnership with Austin-based Whitwell & Co., LLC, an investment management and financial planning firm.

The Postage platform, which will now be available for Whitwell's clients with the new collaboration, range from important information and documents management, estate planning document creation, end-of-life planning, and memory and message storing.

“Whitwell & Co. focuses on supporting their clients through the myriad of choices that arise during planned and unplanned life events and transitions. The Postage fits right into that, and we are thrilled for the opportunity to share our platform with their clients in their planning and organization efforts,” says Emily Cisek, CEO and co-founder of The Postage. “Our hope is to grow awareness of the streamlined digital solutions available and provide Whitwell’s clients the opportunity to create estate planning documents, easily store and safeguard critical information that families will need access at all phases of life. We look forward to providing clients of Whitwell & Co. a comprehensive planning and preparation service that delivers peace of mind to their families.”

The B2B partnership takes effect this month. The Postage, which was founded in 2019, is also closing its crowdfunding campaign on April 4.

“As a company, we are built upon the principles of an innovative approach to investment management and financial planning,” says Stefan Whitwell, CEO at Whitwell & Co. “This partnership is an important approach for us to offer our clients as we progress into the digital age. Having been around families who have had to experience the loss of a loved one, I see the need for a service like The Postage. Too often many are unsure of next steps, where documentation lives, and even last wishes.”

Austin venture capital firm with Houston portfolio companies raised $250M fund

S3 Ventures has fresh funding and eyes for Texas startups. Photo via S3

Billed as the "largest venture capital fund focused on the state of Texas," S3 Ventures's recently announced $250 million Fund VII is focused on investing in Texas startups.

S3 Ventures usually invests $500,000 to $10 million in seed, series A or series B rounds with the capacity to invest more than $20 million throughout the life of a company. The firm has made more than 50 investments since it was founded in 2005 and has more than 25 active portfolio companies and over 20 exits.

“In our first 17 years, we have been fortunate to partner with truly visionary founders who have transformed the way we work, live and heal,” says S3 Managing Director Brian R. Smith in a news release. “We look forward to working with many more in the years ahead.”

The firm has Houston startups in its portfolio: BrainCheck, a provider of interactive cognitive assessment and care planning technology; Saranas, an early bleed detection system; and BuildForce, a construction labor marketplace.

“We believe that by 2030, Texas could be the second-largest technology ecosystem in the country,” Smith said. “That growth is being driven by long-term demographic shifts and broad-based economic strength of not just Austin, but also Dallas, Houston and San Antonio.”

Saranas announces new patent

This Houston medical device company has reached another step in commercialization. Photo courtesy of Saranas

Houston-based early bleed detection medical device company Saranas has been granted a new patent from the Department of Commerce’s United States Patent and Trademark Office. The patent, titled “Access Closure with Bleed Monitoring,” allows for embedding a vascular access closure device with the company’s proprietary bleed monitoring technology.

“As we continue to grow our commercial presence with the Early Bird, we are pleased to secure this important patent that is designed to further expand the implementation of our differentiated bleed monitoring technology,” says Saranas CEO James Reinstein in a news release. “This patent award demonstrates Saranas’ commitment to innovation and further strengthens our intellectual property portfolio.”

At the end of 2021, Saranas announced its first patient in its clinical trials at Morristown Medical Center in Morristown, New Jersey. The trial will eventually enroll up to 265 patients across the U.S.

"We have been using the Early Bird in our clinical practice for the past two years, and the current design of incorporating a fully functional introducer sheath with bleed detection allows for seamless integration into high risk interventional cardiovascular procedures," Dr. Philippe Généreux, interventional cardiologist, says. "Embedding bleed detection directly onto a vascular closure device is the eventual next step and has the potential to become the standard of care across all types of vascular access procedures.”

DECISIO announces new product

DECISIO has a new product on the market. Photo via decisiohealth.com

Houston-based DECISIO has created a suite of customizable clinical decision support tools has announced a new product: EnvisionIQ. The new tool provides templated real-time and customized compliance reports to improve operational efficiency.

EnvisionIQ is a hospital's real-time data and visualization solution enables health systems to benchmark their clinicians, units, and hospitals to accelerate improvements, reduce variation, and expedite data collection for agency reporting requirements.

"Clinical benchmarking tools are essential to enable health systems to quickly identify improvement opportunities that have substantial impact. The addition of EnvisionIQ to our product portfolio allows DECISIO to provide comprehensive surveillance and analytics platforms to benefit hospitals in many capacities," says Paul Sinclair, chief revenue officer at DECISIO, in a news release.

Customers can tap into DECISIO's new product with or without integration with its flagship product, InsightIQTM, which was launched in 2015. The company raised a $13 million series B round in 2019.

BrainCheck has raised its latest round of funding. Photo by Natalie Harms/InnovationMap

Houston health tech startup closes $10M series B led by Austin investors

money moves

A Houston-based tech company that's tackling cognitive health diagnoses with its innovative platform has closed its latest round of funding.

BrainCheck, the cognitive health care platform for physicians, announced the closing of its $10 million series B funding led by Austin-based investors, Next Coast Ventures and S3 Ventures. The funding will be used to expand research and development, including developing a digital therapeutic and enhancing go-to-market capabilities.

BrainCheck's digital platform allows physicians to better assess cognitive function in their patients — whether they are elderly dementia patients or suffering from other cognitive ailments. One in nine adults aged 45 and older report subjective cognitive decline, according to a news release, and one in 14 COVID-19 survivors have neurocognitive disorder.

"We are at the forefront of improving access to cognitive assessment and care," says Yael Katz, co-founder and CEO of BrainCheck, in the release. "With early diagnosis comes treatment and intervention. These funds will allow us to accelerate the adoption of our platform and work with clinicians to help more patients live better and safer lives, decrease caregiver frustration, and save health systems trillions of dollars. I believe that BrainCheck can help cognitive care evolve the way cancer care has since the 1970s, when chemotherapy was one-size-fits-all."

Katz co-founded the company with neuroscientist David Eagleman in January of 2015. Now, doctors at over 400 neurology, primary care and geriatrics practices — such as Cleveland Clinic, MD Anderson, and Johns Hopkins — are already using BrainCheck's 10-to-15-minute test, which is covered by Medicare and by most private insurers, to conduct cognitive testing. The FDA Class II Software as a Medical Device (SaMD), which means that physicians can facilitate in-person or even an remote assessment of their patients' cognitive function.

"BrainCheck is a breakthrough platform that has the potential to transform how we diagnose and treat cognitive impairment," says Michael Smerklo, co-founder and managing director of Next Coast Ventures, in the release. "The combination of technical sophistication and ease of use makes BrainCheck a perfect tool for doctors and health systems everywhere. I'm so impressed by what Dr. Katz and her team have achieved to date and am excited to support the team as they continue to innovate and scale."

Other investors included Nueterra Capital, Tensility Ventures, and True Wealth Ventures, as well as UPMC Enterprises and SelectQuote, which joined on as strategic investors.

"BrainCheck shows promise as a cognitive assessment tool that would allow patients to independently complete the test while allowing physicians to spend more time reviewing the results and planning care with patients," says Dr. Adele Towers, director of risk adjustment at UPMC Enterprises and a geriatric medicine specialist at UPMC, in the release.

BrainCheck closed its $8 million series A round in October of 2019, and the company moved into its new office in Upper Kirby following the raise in early 2020. The startup also has an office in Austin.

Buildforce is an app that can connect contractors with construction experts. Photo courtesy of Buildforce

Houston construction tech company raises $4M round

money moves

A locally founded company that's focusing on changing the construction labor game has raised a round of institutional funding.

Buildforce, which splits its headquarters between Houston and Austin, closed its latest round of funding at $4 million. The round was led by Maryland-based TDF Ventures, with participation from existing investor Houston-based Mercury Fund and Austin-based S3 Ventures.

The company uses construction staffing and management software to more efficiently connect contractors to skilled workers across trades — electrical, mechanical, plumbing, flooring, concrete, painting, and more.

"Contractors depend on skilled and reliable tradespeople to meet project timelines," says Moody Heard, co-founder and CEO of Buildforce, in a news release. "Our key insight is that by optimizing the user experience for skilled tradespeople seeking higher pay and job security, we are able to help meet contractors' needs. We're thrilled to have become the partner of choice for the top contractors in our current markets looking to connect with this workforce."

The new funds will support the startup as it scales, grows revenue, develops its product, and more.

"The US has millions of unfilled openings for skilled tradespeople, yet consistent work remains out-of-reach for many construction professionals," says Will Rayner, principal at TDF Ventures, in the release. "Buildforce's exponential growth in 2021 is a testament to the company's ability to connect supply and demand in this difficult labor market at scale."

The company closed an earlier round of funding in April. That round was led by Mercury.

Saranas closed its series B round this week. Photo courtesy of Saranas

Houston-based medical device company snags $12.8M in series B

following the money

A Houston company that's changing the game when it comes to early bleed detection has raised its next round of funding.

Saranas Inc. announced that it closed a $12.8 million series B investment led by Wisconsin-based Baird Capital, the venture capital and global private equity arm of Baird, a global company with a location in Houston. Austin-based S3 Ventures also supported the round.

The company will use the funds to continue its clinical trials, per a news release.

"We are pleased to announce this round of funding led by Baird Capital," says Saranas President and CEO James Reinstein in the release. "It underscores the importance of real-time monitoring of bleeding complications and our opportunity to accelerate the commercialization of Early Bird. We look forward to expanding our clinical evidence through prospective clinical trials and launching next generation products, including Bird on a Wire, to address a much broader range of endovascular procedures."

Saranas received FDA approval for its Early Bird Bleed Monitoring System in 2019, as well as began its clinical trials. The device is designed to detect and track bleeding complications related to endovascular procedures. These medical procedures treat problems, such as aneurysms, that affect blood vessels. Around 20 percent of patients suffer a bleeding complication during endovascular procedures, like transcatheter aortic valve replacement, endovascular aneurysm repair, and percutaneous hemodynamic support. According to the release, the Early Bird remains the first and only device of its kind.

"As the Saranas team will say, 'Bleeding happens, but complications don't have to,'" says Amy Len Kobe, principal with Baird Capital, in the release. "Baird Capital is proud to partner with Saranas to address bleeding complication challenges and provide solutions that improve outcomes and reduce costs for patients, physicians and providers. We are also pleased to invest in Houston, a growing ecosystem of healthcare innovation and a target market for Baird."

Baird has operated an office locally since 1985, and the venture group has a partnership with the Texas Medical Center since 2018.

S3 Ventures also has an established presence in Houston, and health care technology is one of the three verticals the fund focuses on.

"S3 is enthusiastic about Saranas' game-changing medical device advancements," says Brian R. Smith, managing director of S3 Ventures, in the release. "We invest in companies that are re-imagining the way the world works, lives and heals, and we believe Saranas is a perfect representation of this."

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Autonomous truck company with Houston routes goes public

on a roll

Kodiak Robotics, a provider of AI-powered autonomous vehicle technology, has gone public through a SPAC merger and has rebranded as Kodiak AI. The company operates trucking routes to and from Houston, which has served as a launchpad for the business.

Privately held Kodiak, founded in 2018, merged with a special purpose acquisition company — publicly held Ares Acquisition Corp. II — to form Kodiak AI, whose stock now trades on the Nasdaq market.

In September, Mountain View, California-based Kodiak and New York City-based Ares disclosed a $145 million PIPE (private investment in public equity) investment from institutional investors to support the business combo. Since announcing the SPAC deal, more than $220 million has been raised for the new Kodiak.

“We believe these additional investments underscore our investors’ confidence in the value proposition of Kodiak’s safe and commercially deployed autonomous technology,” Don Burnette, founder and CEO of Kodiak, said in a news release.

“We look forward to leading the advancement of the commercial trucking and public sector industries,” he added, “and delivering on the exciting value creation opportunities ahead to the benefit of customers and shareholders.”

Last December, Kodiak debuted a facility near George Bush Intercontinental/Houston Airport for loading and loading driverless trucks. Transportation and logistics company Ryder operates the “truckport” for Ryder.

The facility serves freight routes to and from Houston, Dallas and Oklahoma City. Kodiak’s trucks currently operate with or without drivers. Kodiak’s inaugural route launched in 2024 between Houston and Dallas.

One of the companies using Kodiak’s technology is Austin-based Atlas Energy Solutions, which owns and operates four driverless trucks equipped with Kodiak’s driver-as-a-service technology. The trucks pick up fracking sand from Atlas’ Dune Express, a 42-mile conveyor system that carries sand from Atlas’ mine to sites near customers’ oil wells in the Permian Basin.

Altogether, Atlas has ordered 100 trucks that will run on Kodiak’s autonomous technology in an effort to automate Atlas’ supply chain.

Rice University scientists invent new algorithm to fight Alzheimer's

A Seismic Breakthrough

A new breakthrough from researchers at Rice University could unlock the genetic components that determine several human diseases such as Parkinson's and Alzheimer's.

Alzheimer's disease affected 57 million people worldwide in 2021, and cases in the United States are expected to double in the next couple of decades. Despite its prevalence and widespread attention of the condition, the full mechanisms are still poorly understood. One hurdle has been identifying which brain cells are linked to the disease.

For years, it was thought that the cells most linked with Alzheimer's pathology via DNA evidence were microglia, infection-fighting cells in the brain. However, this did not match with actual studies of Alzheimer's patients' brains. It's the memory-making cells in the human brain that are implicated in the pathology.

To prove this link, researchers at Rice, alongside Boston University, developed a computational algorithm called “Single-cell Expression Integration System for Mapping Genetically Implicated Cell Types," or SEISMIC. It allows researchers to zero in on specific neurons linked to Alzheimer's, the first of its kind. Qiliang Lai, a Rice doctoral student and the lead author of a paper on the discovery published in Nature Communications, believes that this is an important step in the fight against Alzheimer's.

“As we age, some brain cells naturally slow down, but in dementia — a memory-loss disease — specific brain cells actually die and can’t be replaced,” said Lai. “The fact that it is memory-making brain cells dying and not infection-fighting brain cells raises this confusing puzzle where DNA evidence and brain evidence don’t match up.”

Studying Alzheimer's has been hampered by the limitations of computational analysis. Genome-wide association studies (GWAS) and single-cell RNA sequencing (scRNA-seq) map small differences in the DNA of Alzheimer's patients. The genetic signal in these studies would often over-emphasize the presence of infection fighting cells, essentially making the activity of those cells too "loud" statistically to identify other factors. Combined with greater specificity in brain regional activity, SEISMIC reduces the data chatter to grant a clearer picture of the genetic component of Alzheimer's.

“We built our SEISMIC algorithm to analyze genetic information and match it precisely to specific types of brain cells,” Lai said. “This enables us to create a more detailed picture of which cell types are affected by which genetic programs.”

Though the algorithm is not in and of itself likely to lead to a cure or treatment for Alzheimer's any time soon, the researchers say that SEISMIC is already performing significantly better than existing tools at identifying important disease-relevant cellular signals more clearly.

“We think this work could help reconcile some contradicting patterns in the data pertaining to Alzheimer’s research,” said Vicky Yao, assistant professor of computer science and a member of the Ken Kennedy Institute at Rice. “Beyond that, the method will likely be broadly valuable to help us better understand which cell types are relevant in different complex diseases.”

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This article originally appeared on CultureMap.com.

5 incubators and accelerators fueling the growth of Houston startups

meet the finalists

Houston is home to numerous accelerators and incubators that support founders in pushing their innovative startups and technologies forward.

As part of our 2025 Houston Innovation Awards, the new Incubator/Accelerator of the Year category honors a local incubator or accelerator that is championing and fueling the growth of Houston startups.

Five incubators and accelerators have been named finalists for the 2025 award. They support startups ranging from hard-tech companies to digital health startups.

Read more about these organizations below. Then join us at the Houston Innovation Awards on Nov. 13 at Greentown Labs, when the winner will be unveiled.

Get your tickets now on sale for this exclusive event celebrating Houston Innovation.

Activate

Hard tech incubator Activate supports scientists in "the outset of their entrepreneurial journey." The Houston hub was introduced last year, and joins others in Boston, New York, and Berkley, California—where Activate is headquartered. It named its second Houston cohort this summer.

This year, the incubator grew to include its largest number of concurrent supported fellows, with 88 companies currently being supported nationally. In total, Activate has supported 296 fellows who have created 236 companies. Those companies have raised over $4 billion in follow-on funding, according to Activate. In Houston, it has supported several Innovation Awards finalists, including Solidec, Bairitone Health and Deep Anchor Solutions. It is led locally by Houston Managing Director Jeremy Pitts.

EnergyTech Nexus

Cleantech startup hub EnergyTech Nexus' mission is to accelerate the energy transition by connecting founders, investors and industrial stakeholders and helping to develop transformative companies, known as "thunderlizards."

The hub was founded in 2023 by CEO Jason Ethier, Juliana Garaizar and Nada Ahmed. It has supported startups including Capwell Services, Resollant, Syzygy Plasmonics, Hertha Metals, EarthEn Energy and Solidec—many of which are current or past Innovation Awards finalists. This year Energy Tech Nexus launched its COPILOT Accelerator, powered by Wells Fargo Innovation Incubator (IN²) at the National Renewable Energy Laboratory (NREL). COPILOT partners with Browning the Green Space, a nonprofit that promotes diversity, equity and inclusion (DEI) in the clean energy and climatech sectors. Energy Tech Nexus also launched its Liftoff fundraising program, its Investor Program, and a "strategic ecosystem partnership" with Greentown Labs.

Greentown Labs

Climatetech incubator Greentown Labs offers its community resources and a network to climate and energy innovation startups looking to grow. The collaborative community offers members state-of-the-art prototyping labs, business resources and access to investors and corporate partners. The co-located incubator was first launched in Boston in 2011 before opening in Houston in 2021.

Greentown has seen major changes and activity this year. In February, Greentown announced Georgina Campbell Flatter as its new CEO, along with a new Board of Directors. In July, it announced Lawson Gow as its Head of Houston, a "dedicated role to champion the success of Greentown Houston’s startups and lead Greentown’s next chapter of impact in the region," according to Greentown. It has since announced numerous new partnerships, including those with Energy Tech Nexus, Los Angeles-based software development firm Nominal, to launch the new Industrial Center of Excellence; and Houston-based Shoreless, to launch an AI lab onsite. Greentown Houston has supported 175 startups since its launch in 2021, with 45 joining in the last two years. Those startups include the likes of Hertha Metals, RepAir Carbon, Solidec, Eclipse Energy (formerly GoldH2) and many others.

Healthtech Accelerator (TMCi)

The Healthtech Accelerator, formerly TMCx, focuses on clinical partnerships to improve healthcare delivery and outcomes. Emerging digital health and medical device startups that join the accelerator are connected with a network of TMC hospitals and seasoned advisors that will prepare them for clinical validation, funding and deployment.

The Healthtech Accelerator is part of Texas Medical Center Innovation, which also offers the TMCi Accelerator for Cancer Therapeutics. The Healthtech Accelerator named its 19th, and latest, cohort of 11 companies last month.

Impact Hub Houston

Impact Hub Houston supports early-stage ventures at various stages of development through innovative programs that address pressing societal issues. The nonprofit organization supports social impact startups through mentorship, connections and training opportunities.

There are more than 110 Impact Hubs globally with 24,000-plus members spanning 69 countries, making it one of the world’s largest communities for accelerating entrepreneurial solutions toward the United Nations' Sustainable Development Goals (SDGs).

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The Houston Innovation Awards program is sponsored by Houston City College Northwest, Houston Powder Coaters, FLIGHT by Yuengling, and more to be announced soon. For sponsorship opportunities, please contact sales@innovationmap.com.



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