Tradeblock's three co-founders have known each other since childhood. Photo via tradeblock.us

A Houston-based company is kicking it with some fresh funding with plans to expand development of its marketplace platform.

Unique sneaker trading platform, Tradeblock, has raised $8.9 million in funding from investment partners Courtside VC, Trinity Ventures, and Concrete Rose Capital. Per the news release, the company expects additional funding of around $4.5 million to its seed round.

Tradeblock — founded in 2020 by self-proclaimed "sneakerheads" and childhood friends Mbiyimoh Ghogomu, Tony Malveaux, and Darren Smith — will use the fresh funding to expand and improve its digital marketplace for shoes.

"Tradeblock is revolutionizing the way forward for the new emergent asset class of footwear," says Tradeblock angel investor Jason Mayden, former Nike and Jordan footwear designer and president of Fear of God Athletics. "The founding team's understanding of the nuances of culture and tech gives them an unfair advantage in the industry and the team’s desire to lead with inclusion, representation, and authenticity also provides them with unique and meaningful organic engagement."

Over the past two years, Tradeblock has grown to have over a million shoes listed online. The team has also grown, and Tradeblock's workforce is over 80 percent people of color.

“Black and brown communities have always been the backbone of the sneaker industry and sneaker culture,” says Ghogomu, who also serves as CEO. “Showing those folks that they can be the owners and operators of this industry as opposed to just consumers is both a point of pride and a deeply rooted responsibility for everybody at Tradeblock.”

Authentication is a priority for the company, and the fresh funding will go toward further development of this type of technology within the platform.

"The market for fake sneakers is itself a billion-dollar market. If you're trying to acquire a shoe that's worth hundreds or even thousands of dollars, you need to be absolutely certain that what you're getting is the real thing," Ghogomu previously told InnovationMap.

These eight Houston companies raised over $140 million in venture capital investment in Q2 of 2022. Photo via Getty Images

Here's what Houston startups snagged fresh funding last quarter

following the money

Houston startups are keeping pace when it comes to venture capital raised this year. In this roundup of funding closed in the second quarter, Houston businesses across sectors and industries close significant rounds from seed to series B.

Eight startups raised over $140 million last quarter, according to InnovationMap reporting, which is right on par with Q1's numbers. In chronological order, here's what companies snagged fresh funding recently.

Houston aerospace startup secures $20M series A investment round

Houston-based Venus Aerospace has raised $20 million — and is one step closer to providing one-hour global travel. Photo courtesy of Venus Aerospace

A year after raising $3 million in seed funding, a Space City startup has closed its high-flying series A round to the tune of $20 million.

Venus Aerospace, which is working on a zero-carbon emission spaceplane that will enable one-hour global travel, closed its series A funding round led by Wyoming-based Prime Movers Lab. The firm has a few dozen breakthrough scientific companies in its portfolio, including another Houston-based, space-focused startup, Axiom Space. The round also saw participation from previous investors: Draper Associates, Boost, Saturn 5, Seraph Group, Cantos, The Helm & Tamarack Global.

Venus Aerospace was founded by Sarah "Sassie" and Andrew Duggleby, who serve as the company's CEO and CTO, respectively, in 2020 in California. The Texas A&M University alumni later moved the business into its current facilities in the Houston Spaceport. Click here to continue reading.

Fast-growing energy fintech startup raises $50M series B

The series B capital will allow the company to enhance its core product, while also adding on other workflows that focus on emissions and renewable energy. Image via combocurve.com

Houston-based ComboCurve announced today that it has raised $50 million through a series B funding round led by Dragoneer Investment Group and Bessemer Venture Partners.

Founded in 2017, the company is a cloud-based energy analytics and operating platform that uses sophisticated software to forecast and report on a company's energy assets, including renewables.

The series B capital will allow the company to enhance its core product, while also adding on other workflows that focus on emissions and renewable energy. Click here to continue reading.

Houston medical device startup closes $6M series A

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. Click here to continue reading.

Houston entrepreneur adds $1M to seed round

Houston-based Upgrade has raised additional seed funding. Photo via LinkedIn

Houston-based Upgrade Boutique — which uses technology to connect women with high-quality wigs and hair extensions — extended its seed round by $1 million, Fast Company reported. The round's initial seed leaders included Houston-based venture capital firms Artemis Fund and Mercury Fund, as well as Logitech president and CEO Bracken P. Darrell and ANIM.

“This [investment] will enable us to scale even faster and continue to invest in tools and resources that will improve the consumer experience, and help stylists operate more efficiently,” Winters tells Fast Company. “Based on feedback from the stylists on our platform, we see this as a natural development in the company’s evolution.” Click here to continue reading.

Houston startup raises $30M series B, plans to expand its offerings to customers

Growing Houston-based WizeHire tripled its headcount last year and plans to grow even more as it scales up. Photo courtesy of WizeHire

A Houston software company has closed its latest funding round to the tune of $30 million.

WizeHire, a tech-enabled hiring solution for small businesses, announced the closing of its series B round, bringing its total funding to $37.5 million and its valuation to $250 million, according to the news release. The round was led by Tiger Global with participation from prior Houston-based investors Amplo and Mercury.

The pandemic has greatly impacted businesses ability to hire new employees. Founded in 2014, WizeHire launched a free version of its optimized hiring solution at the height of COVID-19. The company also helped small businesses find and apply for refundable tax credits and Payment Protection Program loans to keep their doors open.

“The pandemic was an incredibly tough time for Main Street, and we were right there with them," says Sid Upadhyay, CEO of WizeHire, in the release. "We’re constantly amazed by the depth of our clients’ trust in us and in response, have stepped up to serve them as a trusted advisor in their business growth. We plan to build a marketplace for small businesses to have access to the resources they need to succeed.” Click here to continue reading.

Houston smart bus platform raises $26M to expand operations in Mexico and beyond

This Houston company has rolled out its expansion plans following a $20 million series A. Photo via ridekolors.com

A Houston-based company that's using tech and data to provide its intercity bus network has announced $26 million in funding.

Kolors has announced the close of its $20 million series A financing round led by UP.Partners with participation from Maniv Mobility, Toyota Ventures, K5 Global, Mazapil — plus contribution from existing investors Tuesday Capital, Garret Camp's Expa, Chris Sacca's Lowercase, Moving Capital, MGV, Brainstorm Ventures, Bling Capital and Amplifica. The round, which brings the company's total investment raised to $26 million, will allow Kolors to grow in Mexico, expand into new Latin American markets, and enable cross-border US travel.

The company has created a "smart-bus-platform," which is defined as being a combination of airline and ridesharing style technology. The service includes attendants superpowered by technology, according to a news release.

"Kolors is redefining the experience of intercity travel. We are thrilled to see Kolors advancing in Mexico and bringing its phenomenal service to other parts of Latin America in the coming months this year," says Ally Warson, partner of UP.Partners. "Kolors is thinking about the next phase for intercity bus travel and intends to design an ecosystem that prioritizes the passenger while providing more profitable and climate-friendly outcomes for bus operators." Click here to continue reading.

Tech startup closes seed round at over $3M, plans to grow Houston team

This tech company wants to replace passwords for good. Photo courtesy of Allthenticate

A California-founded company that recently put down roots in Houston has announced the closing of its seed round of funding.

Allthenticate, a tech startup that enables unified authentication, announced over $3 million raised in its seed funding round led by Austin-based Silverton Partners with participation from California-based Amplify and Denver-based Ping Identity. The total raised in the round is $3,133,337, which, as the press release explains, translates to “elite” in hacker speak.

Allthenticate’s technology and services allow users to utilize smartphone devices to unlock and log in to everything — from doors to computers and servers. The company's mission is to provide safe, easy-to-use security infrastructure for everyday use and to target small- to medium-sized businesses to deploy the technology across their workforces. Click here to continue reading.

Houston SaaS startup raises $10M to keep up with customer growth

Houston-based Liongard has fresh funding to work with. Photo via Getty Images

A Houston software company has announced its latest funding.

Liongard, an IT software provider, has raised an additional $10 million led by Updata Partners with contribution from TDF Ventures — both existing investors in the company. The funding, according to a news release, will go toward providing the best customer service for Liongard's growing customer base.

The technology is providing managed service providers, or MSPs, improved visibility across the IT stack and an optimized user experience.

“Since working with our first MSP partners, we’ve seen time and again the power of visibility into IT data, reducing the time they spend researching customer issues and allowing them to respond faster than their peers,” says Joe Alapat, CEO and co-founder of Liongard, in the release. “This investment enables us to continue to achieve our vision of delivering visibility into each element of the IT stack.” Click here to continue reading.

Ownwell, which uses machine learning and local property tax expertise to help property owners fight hikes in tax assessments, is growing in Houston. Photo via Getty Images

Austin startup eyes Houston for expansion following $5.75M seed round

moving in

A $5.75 million round of seed funding raised by an Austin-based proptech startup will help the company grow its presence in Houston.

Ownwell’s technology analyzes millions of properties to identify property owners who are overpaying, and the company then offers to protest tax assessments on the owners’ behalf for a 25 percent cut of any savings they realize. The company estimates that nearly nine out of 10 protests are successful, and customers save an average of $1,457.

Ownwell currently employs five people in Houston and expects that number to reach 10 by the end of this year. Overall, 14 of the company’s 29 employees live in the Houston, Austin, Dallas, San Antonio, and Waco areas.

First Round Capital led the $5.75 million round. Additional investors include Wonder Ventures, Founder Collective, Long Journey Ventures, and former PayPal board member Scott Banister. So far, Ownwell has raised $7.5 million in funding.

With the fresh round of funding, Ownwell plans to accelerate hiring in areas such as sales, marketing, technology, and operations.

Ownwell couples machine learning with local property tax expertise to help property owners fight hikes in tax assessments.

“Property owners have a lot to consider when deciding to protest: the costs in time and money, the complexity of the process, and the access to real estate expertise and advice,” Colton Pace, Ownwell’s CEO, says in a news release. “As part of our mission to reduce the inequities of property ownership, Ownwell handles the entire process of appealing on behalf of property owners and charges the lowest fees currently on the market.”

Joseph Noor, Ownwell’s chief technology officer, says each property tax appeal the company files isn’t considered complete “until it has been verified, analyzed, augmented, and finalized by a member of our property tax specialist team.” Ownwell doesn’t earn money unless an appeal succeeds.

“At Ownwell, we strive to provide our clients the benefits of modern technology with the thoughtful touch that can only be imparted by an expert in the field,” Noor tells InnovationMap.

Colton Pace is the CEO of Austin-based Ownwell. Image courtesy of Ownwell

Houston-based Topl has raised over $700,000 in its seed round. Getty Images

Houston blockchain startup closes oversubscribed seed round of funding with local investors

Topl the world

Kim Raath is pretty proud of her company right about now. Not only is she proud that her startup, Topl, a blockchain network with applications across industries, closed a 20 percent oversubscribed $700,000 seed round, but because she did it in a way that was directly in line with her company's values.

"Every investor that is invested now has focused on both the purpose and the profit, and I'm big on that," Raath, president and co-founder of Topl, says.

Houston-based Topl was created by a few Rice University graduates and doctoral students — Raath, Chief Technology Officer James Aman, and CEO Chris Georgen. The founders wanted to create a way to track impact in various industries, such as carbon footprints in oil and gas or fair wages for farmers in agriculture.

The team has built six blockchain platforms that operate on the Topl network — two are live now, and four will go live later this year. The platforms are focused on four different areas: agriculture (tracking food products from the farm to the shelves), mining (diamonds, for instance), sustainability and impact (tracking a program to see how it succeeds), and carbon credits and renewables within the energy industry.

"It's a validation time for us," Raath tells InnovationMap. "With two platforms already live and collecting transaction fees, we are now at a point where there are actual blockchain transactions happening on our network."

The fact that Topl's technology is already up and running is rare. For this reason, Raath says she has to focus a lot on educating investors, clients, and the rest of the community — something that's really important to her.

"In the blockchain space, there are not a lot of real applications live anywhere," Raath says. "A lot of people are selling ideas that can be built on blockchains, but have not executed yet."

Topl partnered with European NGO Fairfood to create an agricultural blockchain platform that currently is live. Shoppers in the Netherlands can buy a pack of nutmeg and track the product's progress from the farmer who grew and sold the spice. The other already launched platform is focused on sustainability. Topl worked with the Texas Coastal Exchange to create a carbon credit marketplace that can sell carbon offsets generated through the natural carbon sequestration activities of land the organization holds along the Texas coast.

"For us this round is taking these four spaces and validating ourselves, proving out volume, the blockchain's ability, and then, the big thing is, to build out our next version of our blockchain," Raath says.

Raath says the fundraising round was different from what she expected, but she's excited about her investors. Seventy percent of the round was raised by Houstonians, and 40 percent of the investors were women, she says. Topl also had investor interest across industries and backgrounds — from Rice University professors to former banking execs.

The round doesn't technically have a lead investor, but Samantha Lewis, director at the GOOSE Society of Texas, led a syndicate of investors that made up more than 40 percent of Topl's round. Lewis says the round was too early stage for something GOOSE investors would typically contribute to, but she believes in the company so much that she worked nights and weekends to accomplish some of the things a lead investor would do during a raise.

"Since this was their first big round that they raised, I stepped in to help advise them — thinking about the terms, strategic investors, how to pitch to different people, if they needed to oversubscribe, and little details like that," Lewis says. "Through working with them in this way, I was doing diligence with them, and I got really excited about it."

Lewis, who volunteers a lot within the Rice network, met Raath through Georgen and the two hit it off. Lewis was then able to bring in investors from her network to contribute under her syndicate.

This passionate group of value-add investors who are personally committed to the company is what makes this seed round different for Raath. Their commitment is encouraging to her.

"I 100 percent believe that the investors in this round will not allow Topl to fail," Raath says.

With the money, Topl will be able to grow its platforms, provide better product features, and increase marketing efforts. Topl's customers are drawn to the technology because of the business efficiency the blockchain adds to their supply chain, but they are also excited about how having this technology differentiates them from their competition. Raath says she's interested in growing Topl's ability to do joint marketing campaigns with their customers.

This type of promotion leads to a growing clientbase, and Raath says she sees an overwhelming interest from potential clients. Not only is Topl creating a series of platforms in various industries, but the company itself is connecting other companies through their clients.

"Topl is not just a technology," Raath says, "it's an ecosystem."

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CultureMap Emails are Awesome

Why the banking biz is ripe for innovation, according to this Houston founder

guest column

After our doctor and our child’s school, a bank is an institution with which we share the relationship that is most personal and vital to our well-being in this world. Some might put a good vet third, but other than that, no private entity is more responsible for escorting us to a healthier and happier outcome over the course of our lives.

The bank vault is a traditional symbol of security and prosperity, and not just for our pennies. We safeguard possessions in banks that are so important we don’t even trust keeping them in our own houses. Wills, birth certificates, and the precious family heirlooms of countless families are held in safety deposit boxes behind those giant vault doors, and banks have been the traditional guardians not only of our wealth but our identity and future as well.

The importance of relationship banking

Faith and confidence in our banks is so fundamental to the customer relationship that it has evolved into a unique and otherwise unthinkable arrangement for any good capitalist in a healthy marketplace: banks pay us to be their customers. Imagine a doctor offering you $20 for trusting them to give you a colonoscopy and you’re on the road to understanding the sacrosanct union between bank and customer.

In fact, this trust is so deeply anchored in the American psyche that a new generation of digital banking companies has sprung up on the idea that it doesn’t need to exist in physical reality. The fintech industry has exploded in the last decade, and today, over 75 percent of Americans are engaged in online banking in one form or another. Every single one of those 200 million customers are taking for granted that they will be well served, despite having no personal guidance through any of the financial products and services that these online entities provide.

Benefits of fostering relationships with banking customers

In the late 90s and early 2000s brick-and-mortar banks realized that greater personalized care for their customers was going to be a critical point of competition. The in-person experience is an opportunity to offer advice and incentives for a wide range of products and financial management assistance. It’s rooted in an incredibly simple axiom that is taking hold in every aspect of modern society: everyone benefits if we all get along better.

There’s a lot of statistical traction behind this theory. Customers who report they are “financially healthy” are down 20 percent over the last year, which means people are looking for guidance. 73 percent of customers who visit a local bank branch report having a personal relationship with their bank, while only 53 percent say the same of their digital institution. Most importantly, although many digital banks are offering similar products and services to their real-world counterparts, customer engagement remains very low.

It starts with your products

The truth is, today’s bank customers still want that same personal relationship their great-grandparents had before they engage with deeper financial products and services. They believe it makes them more financially successful, and confirm that human connections and economic prosperity go hand-in-hand.

Products that are Challenging for Digital Markets

Residential mortgages, for example, are an $18 trillion dollar industry that deals in durations longer than most digital banking services have even existed. The perception of continuity and stability is highly valued by clients in the mortgage relationship. Today, most customers feel that only comes with a handshake and a smile from an employee who has to fit in a meeting before they pick their kids up from school.

While digital firms have proven themselves capable of offering savings and checking services, most have fallen flat on the mortgage front because of the premium on personal relationships. Loyalty is the reward for time, service, and shared experience, and financial institutions that cannot provide that package for their customers are never going to access a deeper and more meaningful portfolio of services.

Finding Well-suited Products for Digital Finance

The message for the digital finance world is as clear as it is pressing. The future of the industry will revolve around more personalized experiences, interactions, and long-term products. At the same time, the American public has embraced digital banking, and we are looking at a new generation of bank users who may never walk through a branch door in their life.

In order to compete, the digital industry will need to identify and develop a range of long-term products and services that make sense for customers in today’s environment. Mortgages may be out of the question, but the safety deposit box holds great promise for industry in-roads. Optimal services for deeper, more personal customer engagement include things like:

  • Legacy and estate planning
  • Will preparation and safeguarding
  • Preservation of cherished photos and videos
  • Important personal data storage


Because these things are product-based, they are well suited to the digital ecosystem. The cryptocurrency industry and modern online banking have solidified consumer confidence in the digital bank vault, and there is a great deal of faith in the perpetuity of electronic documents and storage.

The IRS estimates that upwards of 90 percent of Americans are E-filing their taxes and that only comes with a widespread belief that our highly sensitive information can and will be preserved and protected by digital architecture.

Secure your future

Digital banking firms that want to thrive in the upcoming decades are going to need to innovate in long-term financial planning products that bring their customers into a closer, more personal relationship with them.

The finance world will continue to change and develop, but the hopes, fears, and dreams of people trying to build and secure a better future for themselves and their children will remain the same for tomorrow’s customers as they were for their parents and grandparents.

It is up to the digital finance industry to adapt and develop to provide the customers of today—and tomorrow— with these invaluable services and securities.

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Emily Cisek is the founder and CEO of The Postage, a tech-enabled, easy-to-use estate planning tool.

How a Houston med device startup pivoted to impact global health and diagnostics

HOUSTON INNOVATORS PODCAST EPISODE 153

In the span of a couple years, a Houston startup went from innovating a way for patients with degenerative eye diseases to see better to creating a portable and affordable breath-based diagnostics tool worthy of a prestigious grant from the Bill and Melinda Gates foundation.

Steradian Technologies, founded in 2018, set out to create human super-sight via proprietary optics. In early 2020, the company was getting ready to start testing the device and fundraising. Then, the pandemic hit, knocking the company completely off course.

Co-founder and CEO of the company, Asma Mirza, says on this week's Houston Innovators Podcast that the Steradian co-founders discussed how their optic technology could detect diseases. Something just clicked, and the RUMI device was born.

"We are from Houston, Texas, which is one of the most diverse and accessible cities in the country, and we were having trouble with basic diagnostic accessibility. It was taking too long, it was complicated, and people were getting sick and didn't know if they were positive or negative," Mirza says on the show. "That's when we pivoted the company and decided we were going to pivot the company and use optics to detect diseases in breath."

Fast forward two years and the company has been recognized by the Bill and Melinda Gates Foundation with a grant to sport the development of the tool — which costs about the same price as a latte to make. The impact for global health is huge, Mirza says, allowing for people to test their breath for diseases from their own homes in the same time it takes to take your temperature.

"You blow into a cartrige and we're able to take the air from your breath into a liquid sample," Mirza says, explaining how the device uses photons to produce quick results. "It's wild that we still don't have something like that yet."

She shares more details about the grant and the future applications for the technology — as well as the role Houston and local organizations have had on the company — on the podcast. Listen to the interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


Houston cleantech company sees shining success with gold hydrogen

bling, bling

Houston-based cleantech startup Cemvita Factory is kicking things into high gear with its Gold Hydrogen product.

After successfully completing a pilot test of Gold Hydrogen in the oil-rich Permian Basin of West Texas, Cemvita has raised an undisclosed amount of funding through its new Gold H2 LLC spin-out. The lead investors are Georgia-based equipment manufacturer Chart Industries and 8090 Industries, an investment consortium with offices in New York City and Los Angeles.

Gold Hydrogen provides carbon-neutral hydrogen obtained from depleted oil and gas wells. This is achieved through bioengineering subsurface microbes in the wells to consume carbon and generate clean hydrogen.

Cemvita says it set up Gold H2 to commercialize the business via licensing, joint ventures, and outright ownership of hydrogen assets.

“We have incredible conviction in next-generation clean hydrogen production methods that leverage the vast and sprawling existing infrastructure and know-how of the oil and gas industry,” Rayyan Islam, co-founder and general partner of 8090 Industries, says in a news release.

Traditional methods of producing hydrogen without greenhouse gas emissions include electrolysis powered by renewable sources like wind, solar or water, according to Cemvita. However, production of green hydrogen through normal avenues eats up a lot of energy and money, the startup says.

By contrast, Cemvita relies on depleted oil and gas wells to cheaply produce carbon-free hydrogen.

“The commercialization and economics of the hydrogen economy will require technologies that produce the hydrogen molecule at a meaningful scale with no carbon emissions. Gold H2 is leading the charge … ,” says Jill Evanko, president and CEO of Chart Industries.

Investors in Cemvita include Oxy Low Carbon Ventures, an investment arm of Houston-based Occidental Petroleum, as well as BHP Group, Mitsubishi, and United Airlines Ventures.

Oxy Low Carbon Ventures and United Airlines Ventures are financing Cemvita’s work on sustainable jet fuel. United Airlines operates a hub at George Bush Intercontinental Airport Houston.

Founded by brother-and-sister team Moji and Tara Karimi in 2017, Cemvita uses synthetic biology to turn carbon dioxide into chemicals and alternative fuels.