Houston-based Data Gumbo, an industrial blockchain-software-as-a-service company, announced that its latest round or funding. Photo courtesy of Data Gumbo

Data Gumbo, a Houston-based tech startup, has picked up $4 million in a series C round from the venture capital arms of foreign energy companies Saudi Aramco and Equinor.

The funding for Data Gumbo came from Saudi Aramco Energy Ventures, the VC subsidiary of government-owned oil and natural gas giant Saudi Aramco, and Equinor Technology Ventures, the VC subsidiary of Norwegian energy operator Equinor. The U.S. headquarters for both Saudi Aramco and Equinor are in Houston.

Data Gumbo said in January that it had signed up Equinor as a customer.

Only last year, Data Gumbo announced it had raised a $7.7 million series B round with participation by Saudi Aramco, Equinor Technology Ventures, and VC and private equity firm L37, which has an office in Houston. The startup has hauled in $26.7 million in funding since its founding in 2016, according to Crunchbase.

Data Gumbo provides a contract platform, GumboNet, that is powered by blockchain technology. The platform serves more than 180 corporate customers in the oil and gas sector. The startup says the funding will enable it to expand its contract automation offering beyond the energy industry.

“While we started in energy, we already have value for bulk commodity haulage, trucking and shipping, with plans to parlay our momentum into other global industries,” says Andrew Bruce, founder and former CEO of Data Gumbo. “Wherever two or more organizations share a contractual relationship that can be verified with a digital source of data, opportunities abound to realize efficiencies and cost savings utilizing our blockchain network.”

Frank Andrasco, senior investment director at Saudi Aramco Energy Ventures, says Data Gumbo’s platform “has broad industrial applicability.”

The announcement of the $4 million funding round comes on the heels of William Fox being named CEO of Data Gumbo in July. Fox had been the startup’s chief product officer.

“The partnership with Equinor and Saudi Aramco, and their associated supply chains and partnerships, will continue the momentum for the Data Gumbo’s smart contract network,” Fox says.

Earlier this year, Data Gumbo announced the opening of an office in Saudi Arabia. Data Gumbo’s headquarters is at The Cannon’s coworking space in the Energy Corridor. It also maintains offices in Norway and the United Kingdom.

This week's roundup of Houston innovators includes Jim Sledzik of Saudi Aramco Energy Ventures, Arti Bhosale of Sieve Health, and Paul Cherukuri of Rice University. Photos courtesy

3 Houston innovators to know this week

who's who

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from corporate venture capital to digital health — recently making headlines in Houston innovation.

Jim Sledzik, North American managing director of Saudi Aramco Energy Ventures

Jim Sledzik joins the Houston Innovators Podcast to discuss corporate venture, Houston's role in the energy transition, and more. Photo courtesy of Aramco

When it comes to venture capital, the corporate model can be considered a little less risky, Jim Sledzik, North American managing director of Saudi Aramco Energy Ventures, says on last week's episode of the Houston Innovators Podcast. Over the past decade, Saudi Aramco Energy Ventures has invested $320 million into 33 portfolio companies in the United States. Sledzik, who's worked in various energy services roles around the world before entering in to investment, explains that the corporate venture model is ideal for scaling big technology — and fast.

“When you’re using the venture model in a corporate setting, you have the company and the balance sheet behind you, which brings different benefits to companies you’re investing in,” he says. “These entrepreneurs who are looking to figure out how to deploy technology at scale becomes the real interesting item. All entrepreneurs want to grow — and they want to grow fast."

Scaling fast is risky, but big corporates — like Aramco — can help address the risks by providing a foothold in the market, a place to roll out the technology, and more. Click here to stream the episode and read more.

Arti Bhosale, co-founder and CEO of Sieve Health

Sieve Health is an AI cloud-based SaaS platform designed to automate and accelerate matching patients with clinical trials. Photo

Throughout her career, Arti Bhosale has seen the inefficiency and the ineffectiveness of selecting patients for clinical trials.

“Across the globe, more than 30 percent of clinical trials shut down as a result of not enrolling enough patients,” says Bhosale. “The remaining 80 percent never end up reaching their target enrollment and are shut down by the FDA.”

So, in 2020, Bhosale and her team developed Sieve Health, an AI cloud-based SaaS platform designed to automate and accelerate matching patients with clinical trials and increase access to clinical trials. Click here to read more.

Paul Cherukuri, the inaugural vice president for innovation at Rice University

Meet Paul Cherukuri — the new face of innovation at Rice University. Photo via Rice.edu

Rice University has stood up a new office of innovation — and named its new leader. Paul Cherukuri, the executive director of the Institute of Biosciences and Bioengineering, the inaugural vice president for innovation. In his role, Cherukuri will "lead Rice’s technology and commercialization infrastructure to translate breakthrough discoveries into inventions for the benefit of society," per a news release from Rice.

“I am thrilled and honored to serve in this new role at this inflection point in our university’s history,” Cherukuri says in the release. “Rice has some of the finest minds in the world and I look forward to working with President DesRoches and the leadership team he has assembled to chart a bold new path for world-changing innovation from Rice by engaging the remarkable innovation ecosystem including the Ion District, the Texas Medical Center, industry and other unique assets in Houston.” Click here to read more.

Jim Sledzik joins the Houston Innovators Podcast to discuss corporate venture, Houston's role in the energy transition, and more. Photo courtesy of Aramco

Houston corporate investor on why Houston is poised to lead the energy transition

HOUSTON INNOVATORS PODCAST EPISODE 145

When it comes to Houston's potential to lead the energy transition, Jim Sledzik, North American managing director of Saudi Aramco Energy Ventures, says it's a no-brainer.

"We understand the energy business — we understand size and scale. And the size and scale of the challenges in front of us to get to net zero is enormous,” he says on this week's episode of the Houston Innovators podcast. “The basics are here. We just need to tap into the talent and experience."

Over the past decade, Saudi Aramco Energy Ventures has invested $320 million into 33 portfolio companies in the United States. Sledzik, who's worked in various energy services roles around the world before entering in to investment, explains that the corporate venture model is ideal for scaling big technology — and fast.

“When you’re using the venture model in a corporate setting, you have the company and the balance sheet behind you, which brings different benefits to companies you’re investing in,” he says. “These entrepreneurs who are looking to figure out how to deploy technology at scale becomes the real interesting item. All entrepreneurs want to grow — and they want to grow fast."

Scaling fast is risky, but big corporates — like Aramco — can help address the risks by providing a foothold in the market, a place to roll out the technology, and more.

“With corporate venture, you can bring the assets and the application of those technologies, and you can work to scale it in a manner that’s somewhat derisked,” Sledzik says on the show. “In corporate venture capital, you have other levers in which to pull to add value to the entrepreneurs you’re investing in. The private side brings different values.”

Earlier this year, Aramco announced a partnership with the Ion, representing its dedication to the Houston innovation ecosystem. Sledzik says Aramco being named a founding partner at the Ion opens the door to more collisions with Houston entrepreneurs. Starting later this month, Sledzik and his team will host office hours every other Friday.

"Ion is the place where you can find those collisions,” he says. “You just never know when serendipity is going to be created.”

He shares more about the types of technology Aramco is looking for and his advice to energy tech entrepreneurs on the podcast. Listen to the interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


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CultureMap Emails are Awesome

How executive education retains your best employees + drives success

Investing in People

Hiring is tough, but retaining great people is even harder. Ask almost any manager what keeps them up at night, and the answer usually comes back to the same thing: How do we keep our best employees growing here instead of looking elsewhere?

One reliable approach has held up across industries. When people see their employer investing in their development, they’re more likely to stay, contribute, and imagine a future with the organization.

The data backs this up. Employees who take part in ongoing training are far less likely to leave, and the effect is especially strong for younger workers. One national survey found that 86% of millennials would stay with an employer that invests in their development. Companies that build a real learning culture see retention jump by 30-50%. The pattern is consistent: When people can learn and advance, they stay.

The ROI of executive education
Professional development signals value, but it also builds capability. When people have access to structured learning, they become better problem-solvers, more adaptable, and more confident leading through change.

That's the focus of Executive Education at Rice University's Jones Graduate School of Business. The portfolio is built for the realities of modern leadership: AI and digital transformation courses for teams navigating new technologies, and deeper programs in innovation and strategy for leaders sharpening long-term thinking.

“People, managers, professionals, and executives in all functional areas of business can benefit from this program,” notes Jing Zhou, Mary Gibbs Jones Professor of Management and Psychology at Rice. “We teach the fundamental principles of how to drive innovation and broaden the cognitive space.”

That perspective runs through every offering, from the Rice Advanced Management Program to the Leadership Accelerator and Leading Innovation. Each program gives participants practical tools to think strategically, work across teams and make meaningful change inside their organizations.

Building the leadership pipeline
Leadership development isn’t a perk anymore. It’s a strategic need for any organization that wants to grow and stay competitive.

Employers know this — nearly two-thirds say leadership training is essential to their success — yet employees still report feeling stalled. Reports find 74% of employees feel they aren’t reaching their potential because they lacked meaningful growth opportunities.

Rice Business designs its Executive Education programs to address that gap. The Rice Advanced Management Program, for example, supports leaders preparing for C-suite, board, or enterprise-level roles. Its format — two in-person modules separated by several weeks — gives participants space to test ideas at work, return with questions, and build on what they’ve learned. The structure fits demanding executive schedules while creating room for deeper reflection and richer peer connections.

Just as important, the program helps senior leaders align on strategy and culture. Participants develop a shared language and build stronger relationships, which translates into clearer decision-making, better collaboration, and less burnout across teams.

Houston’s advantage
Houston gives Rice Business Executive Education a distinctive edge. The city’s position in energy, healthcare, logistics, and innovation means participants are learning in the middle of a global business ecosystem. That proximity brings a mix of perspectives you don’t get in more siloed markets, and it pushes leaders to apply ideas to real-world problems in real time.

The expertise runs deep on campus, as well. Participants learn from faculty who are shaping conversations in their fields, not just teaching from a playbook. For many organizations, that outside perspective is a meaningful complement to in-house training — a chance to stretch thinking, challenge assumptions, and broaden leadership capacity.

Rice Business offers multiple paths into that experience, from open-enrollment programs like Leading Organizational Change, Executive Leadership for Women, or Driving Growth through AI and Digital Transformation to fully customized corporate partnerships. Across all formats, the focus is the same: education that is practical, relevant, and built for impact.

Investing in retention and results
When organizations make room for real development, the payoff shows up quickly: higher engagement, stronger leadership pipelines, and lower turnover. It also shapes the culture. People are more willing to take risks, ask better questions, and stay curious when they know learning is part of the job.

As Brent Smith, senior associate dean for Executive Education at Rice Business, explains, “There’s a layer of learning in leadership that’s about helping people adopt a leadership identity — to see themselves as the actual leader for their organization. That’s not an easy transition, but it’s the foundation of lasting success.”

For companies that want to build loyalty, deepen leadership capacity, and stay competitive in a fast-changing environment, investing in people isn’t optional. Rice Business Executive Education offers a clear path to do it well. Learn more here.

Check out upcoming programs:

Houston’s 10 most valuable startups revealed in new report

by the numbers

The Greater Houston Partnership has released its list of the 10 most valuable startups that are fueling the city’s growth and entrepreneurial energy, including industry giants like Axiom Space and Fervo Energy.

Currently, Houston hosts more than 1,300 startups in industries such as energy, life sciences, manufacturing and aerospace, according to the GHP. The list ranks its top 10 startups by valuation based on the company’s last private funding round, reflected in Pitchbook data, as of Oct. 20 of this year.

The top 10 list includes:

10. NXTClean Fuels

Valuation: $530 million

NXTClean Fuels builds biofuel refineries that produce renewable fuel by using feedstocks like cooking oil and recycled organic materials.

9. Homebase

Valuation: $660 million

HR tech company Homebase provides employee management software that helps manage and optimize timesheets, payroll and more, with over over 100,000 small businesses and 2 million hourly workers using its product.

8. Zolve

Valuation: $800 million

Zolve is a banking platform that provides customers with access to financial products that aim to be accessible, flexible, and affordable than other financial platforms.

7. Stramsen Biotech

Valuation: $807 million

Stramsen Biotech develops plant-based drug therapies that target both infectious and noninfectious diseases, which include cancer, diabetes, HIV, kidney disease and neurological issues.

6. Octagos

Valuation: $843 million

Healthtech company Octagos has developed a remote cardiac monitoring software driven by AI that helps consolidate patient data in real-time, assisting healthcare professionals in providing quicker, easier and more accurate care.

5. Fervo Energy

Valuation: $1.4 billion

Pioneering geothermal company Fervo Energy combines horizontal drilling and fiber-optic sensing to produce electricity. The company is developing its flagship Cape Station geothermal power project in Utah. The first phase of the project will supply 100 megawatts of power beginning in 2026

4.Cart.com

Valuation: $1.7 billion

Cart.com is an e-commerce giant and logistics solutions provider that was founded in 2020 and obtained unicorn status within just three years.

3. Axiom Space

Valuation: $2.1 billion

Axiom Space is one of the anchor tenants at the Houston Spaceport, and has completed four missions of sending commercial astronauts to the ISS since 2022. In 2027, the company expects to see the first section of its private space station, Axiom Station, launched into low-earth orbit.

2. Solugen

Valuation: $2.175 billion

Solugen replaces petroleum-based products with plant-derived substitutes through its Bioforge manufacturing platform.

1. HighRadius

Valuation: $3.2 billion

HighRadius uses advanced technology to automate and manage accounts receivable processes for businesses worldwide.

The GHP also released its State of Houston’s Tech and Innovation Landscape, which mapped Houston’s digital and innovation sectors. Read the full report here.

Photos: Highlights from the 2025 Houston Innovation Awards

Innovation Awards Recap

The 2025 Houston Innovation Awards season came to a close on Nov. 13 at InnovationMap's annual awards program and networking event.

The fifth annual Houston Innovation Awards celebrated more than 40 innovative finalists and crowned 10 winners across prestigious categories. In the weeks leading up to the event, finalists were profiled in our editorial series spotlights. Read all about this year's winners here.

Finalists, judges, and special guests connected during an exclusive VIP reception before the doors officially opened for the evening. A full house of attendees then gathered to celebrate the best and brightest in Houston innovation right now. The night culminated in an awards program, emceed this year by Lawson Gow, Greentown Labs Head of Houston.

Scroll through the photos below for scenes from the event, including the winners, the guests, and more highlights from the program.

Special thanks to this year's sponsors for an unforgettable evening honoring Houston innovation: Houston City College Northwest, Houston Powder Coaters, FLIGHT by Yuengling, William Price Distilling, and Citizens Catering.

2025 Houston Innovation Awards Winners:

Energy Transition Business of the Year: Eclipse Energy. Photo by Emily Jaschke
2025 Houston Innovation Awards Winners:

2025 Houston Innovation Awards Winners, Continued

Minority-founded Business of the Year: Mars Materials. Photo by Emily Jaschke

2025 Houston Innovation Awards Guests 

Photo by Emily Jaschke

More 2025 Houston Innovation Awards Highlights

Photo by Emily Jaschke