Looking into venture capital deal growth, new coworking coming to town, and more Houston innovation news. Getty Images

Houston has seen some big headlines this month when it comes to innovation news — and you could have missed something.

From a report on venture capital funding last year and new coworking coming to town to a Houston investor selling her accelerator company, here's the latest batch of short stories in Houston innovation.

Houston sees spike in venture capital deals in 2019

Houston saw more venture capital funding in 2019 compared to 2018. Chart via crunchbase.com

Overall, 2019 was a good one for Texas venture capital deals. Austin had a record turnout of money invested in startups. Austin companies raised over $1.8 billion, which put the state capitol in the top 10 cities based on money raised, according to a report by Crunchbase.

And this Texas VC roundup on Crunchbase focused a lot of the Austin funding and didn't harp too much on the other Texas cities. But Houston's numbers are also record breaking. The Bayou City raised nearly $400 million last year — with the bulk of that being recorded in Q2 of 2019.

Houston's recorded $399.6 million in VC deals surpasses 2018's recorded funding by almost $20 million, but if you look at PitchBook and the National Venture Capital Association's data, the amount is higher. According to Pitchbook, the total funding raised in 2019 in Houston deals surprasses $600 million across 98 deals.

Houston investor-founded accelerator acquired

Houston investor ​Diana Murakhovskaya has sold her New York-based accelerator program. ​Photo courtesy of The Artemis Fund

New York-based Monarq Incubator, a venture capital-focused accelerator program for women, has been acquired by Female Founders Alliance. Monarq was co-founded by Diana Murakhovskaya, one of the three co-founders of Houston-based, female-focused The Artemis Fund.

Since its founding in 2017, Monarq accelerated 32 companies that have then gone on to raise more than $10 million in venture capital. The combined company, according to a news release, now represents the largest network of women and non-binary venture-scalable founders.

"FFA and Monarq share more than just a mission – we share founder DNA," says Leslie Feinzaig, CEO of Female Founders Alliance, in the release. "Our two communities and accelerator programs were built by women founders, for women founders. We are uniquely able to build programming that accelerates the success of women in our space, and now along with founder cred, we have scale and a national footprint. I am so excited for what we can achieve in this next stage of FFA."

The acquisition means a heightened focus on The Artemis Fund for Murakhovskaya.

"Now that I am full time focused on raising and investing with Artemis, it's great to know that our community and founders will have a home and provide us with a great source of deal flow," she says in an email to InnovationMap.

A new coworking company to enter Houston with Galleria-area office

New Galleria-area coworking is coming later this year. Photo via serendipitylabs.com

Serendipity Labs Coworking, which has over 100 coworking spaces across the United States and United Kingdom, announced its plans to enter six new markets this year. Houston is among the new locations for the coworking company.

Expected top open in the fall, the Houston coworking space will be a 28,331-square-foot space on the 20th floor of the Marathon Oil Tower at 5555 San Felipe St. in the Galleria area. According to the release, Cameron Coworking, a division of Cameron Management, will be the development partner for the Houston market.

"By partnering with asset owners of office, retail and residential buildings and then managing the Labs, we bring our operational expertise and marketing power, and we assure the upscale service standards of one of the top national flexible workplace networks will be met at every location," says John Arenas, chairman and CEO of Serendipity Labs, in a news release.

MassChallenge Texas opens applications for second cohort

Applications are open for MassChallenge Texas' second Houston cohort. Courtesy of MassChallenge

At an event on January 29 in both Houston and Austin, MassChallenge Texas opened applications for its 2020 cohorts

The 4-month accelerator program is set to begin in June and online applications close March 9. Prizes include six months of free office space and up to $250,000 in equity free investment. Click here for more information.

Houston entrepreneur named to 2020 class of Presidential Leadership Scholars

Houston startup founder, Reda Hicks, has been named a Presidential Leadership Scholar. Photo via presidentialleadershipscholars.org

For this sixth year, the Presidential Leadership Scholars announced its class of veterans, educators, physicians, public servants, and corporate professionals to participate in the program. Reda Hicks, founder of GotSpot was named as one of the 60 scholars. The program began this week in Washington D.C..

"I cannot wait to work with, and learn from, these exceptional leaders," Hicks shares on LinkedIn. "And through the program, I will be working on RescueSpot, a community resiliency application of GotSpot Inc."

Another Houstonian was selected too — Ganesh Betanabhatla, who is the managing partner and chief investment officer at Ramas Capital Management.

Ion Smart Cities Accelerator opens applications for second cohort

Aatonomy, a member of the first cohort, walked away with a cash prize at Demo Day. F. Carter Smith/Station Houston

The second cohort for the Ion Smart Cities Accelerator Program has opened applications online. The first cohort, focused on resilience and mobility, is currently in pilot mode. Cohort II will be focused on water purification/quality, air quality, and clean technology.

The applications will close on Monday, February 17, and startups that are selected will be notified the week of March 2.

The program, which was announced in June, is backed by Microsoft and Intel and named its first cohort last fall. The demo day for the first cohort took place last month. The accelerator has its own space and prototyping lab in downtown Houston, which opened in September.

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Houston Innovation Awards to honor Wade Pinder as 2025 Trailblazer

And the award goes to...

On Nov. 13, we'll gather for the 2025 Houston Innovation Awards to celebrate the best and brightest in Houston innovation right now. And, as is tradition with the annual program, we'll honor one longstanding Houston innovator with the Trailblazer Award.

The award was established to recognize an individual who has left a profound impact on Houston's business and innovation ecosystem and is dedicated to continuing to support Houston and its entrepreneurs. The recipient is selected by our esteemed panel of judges from a pool of internal and external recommendations.

The 2025 Trailblazer Award recipient is Wade Pinder of Product Houston. A familiar face to those active in Houston's innovation sector, Pinder identifies as an "Ecosystem Wayseeker" and is the founder of Product Houston.

Pinder, a former product manager at Blinds.com, arrived in Houston in 2008 and has been deeply engaged in Houston’s startup and innovation scene since 2012. Over the years, he has supported hundreds of founders, product leaders, and community builders across the Houston area.

In 2023, he was honored as Mentor of the Year in the Houston Innovation Awards. Today, he fosters collaboration, clarity, and connection through his work at Product Houston, and he helps innovators find their place in the local sector via his monthly "Houston Ecosystem Mapping" sessions.

Read below for Pinder's insightful takes on the Houston innovation scene and what it means to blaze a new trail. Then, join us as we celebrate Pinder and all of our nominees and winners at the 2025 Houston Innovation Awards on Nov. 13 at Greentown Labs. Tickets are available now.

InnovationMap: Describe the growth of the Houston innovation ecosystem from your arrival in 2008 to now.

Wade Pinder: When I first arrived in Houston in 2008, the innovation ecosystem was more fragmented than it is today. Connecting with other innovators often meant attending a lot of hit-or-miss events. Over the years, it’s been incredible to see the network take shape and grow into a true community. I’ve had the privilege of being involved with several coworking spaces and accelerator programs along the way, and it’s been especially exciting to see Station Houston evolve into what is now the Ion District. What makes the Ion unique is how it blends openness and opportunity… ideas spill into and out of the space, and anyone can walk in, participate in programming, and find themselves in proximity to people who might help them take the next steps.

Additionally, the expansion of spaces like Texas Medical Center Innovation, Helix Park, The Cannon, and many others, have broadened Houston’s innovation landscape in powerful ways.

Today, when someone new moves to Houston and wants to plug into the startup and innovation scene, it’s much easier for them to find their way than when I moved here in 2008. I think that’s something Houston can really be proud of.

IM: As someone who engages with the broader Houston innovation community on a regular basis, what are the shared characteristics and traits that you see among its members?

WP: One of the things that makes Houston’s innovation community unique is how deeply it’s rooted in industry. So many of the innovators I meet come from within Houston’s major sectors, and they’ve seen firsthand where opportunities lie, which gives their innovation a certain practicality. They’re developing solutions that solve real, often complex, business and industry problems, not chasing trends or trying to create the next flashy consumer app.

What I admire most is that this community is growing in its understanding of the value of collaboration. They work with the systems and expertise that already exist, and find better ways to make them work together. Another shared trait I see across Houston’s innovators is a deep sense of curiosity and a drive to question the status quo while looking for better ways to build, improve, and solve.

IM: You’ve said, "Houston has Houston problems, and Houston needs Houston solutions." How do you see this taking shape in the innovation sector right now?

WP: When I first started getting connected to Houston’s startup and innovation scene in 2012, I noticed folks had a tendency to look at other cities and ask, "How can we do what they did?" Back then, we saw phrases like "Silicon Bayou" pop up, and while that enthusiasm was hopeful, it often discounted the things that make Houston unique. Over time, I’ve come to believe that the better question is: "What are we already great at, and how can we innovate from there?" The flip side of that question is to reflect on the things that hold us back as an ecosystem… identifying the friction points and finding practical ways to smooth them out.

From my time wandering around our ecosystem, I’ve come to understand Houston is great at infrastructure at scale, solving life-and-death challenges in the global spotlight, and "boldly going where no one’s gone before." These three things, in my opinion, capture the essence of Houston does best: We do hard things here.

What excites me today is that we’re applying innovation to those core strengths in ways that feel authentically Houston. One area I’m especially excited about is the emergence of the “New Space Economy,” captured beautifully in Wogbe Ofori’s thought piece “The Astropreneur’s Startup Journey Map.” It's a great example of how the next wave of space-related innovation might connect to Houston’s long-standing strengths in manufacturing, logistics, and problem-solving at scale.

Another challenge Houston faces is what I call a "proximity problem." Even when events are only a few miles apart, traffic can make it difficult for people to stay connected across the city. That’s why I’m so encouraged by the rise of what I think of as "intent-based gatherings" around the city: events designed with purpose, where people know they’ll find real connection and value once they arrive.

IM: Finally, what does being a "Trailblazer" mean to you?
WP: To me, trailblazing in the Houston innovation ecosystem means being willing to wander through the many different corners of the community and look for value in places we often overlook. It’s about showing up at events, community meetings, and pitch competitions — not just to participate, but to notice how each of these "nodes" in the ecosystem connects and adds value to the others.

Sometimes the trailblazer only walks a trail once: as they are discovering it. If you can help others see a newfound trail’s purpose and potential, it becomes a path others can follow more easily in the future. That’s the real work of a trailblazer: mapping connections, framing their value, and helping people recognize how those pathways strengthen the ecosystem as a whole.

In a broader sense, trailblazing is about seeing things not just as they are, but as they could be. Then taking the steps, however small, that make that vision real.

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

Houston-area VC funding sunk to 5-year low in Q3 2025, report says

by the numbers

Fundraising for Houston-area startups experienced a summertime slowdown, sinking to a five-year low in the third quarter, according to the latest PitchBook-NVCA Venture Monitor.

The PitchBook-NVCA Venture Monitor shows startups in the Houston metro area attracted $204.4 million in venture capital from June through August. That’s 55 percent below the total for the previous quarter and 51 percent below the total for the third quarter of 2024.

More telling than those figures is that the third-quarter haul dropped to its lowest total for Houston-area startups since the fourth quarter of 2020, when $133.4 million in VC was raised. That was the third full quarter after health officials declared the pandemic in the U.S.

In Q3 2025, AI accounted for nearly 40 percent of VC deal volume in the U.S., Kyle Stanford, director of U.S. venture research at PitchBook, said in the report. And through the first nine months of 2025, AI represented 64 percent of U.S. deal value.

VC deal activity “has been nearly steady, emphasizing a consistent influx of companies, especially at the pre-seed and seed stages,” Stanford said. “Large deals remain the primary driver of market deal value, with almost all of these deals focused on AI.”

Bobby Franklin, president and CEO of NVCA, said that while fundraising hasn’t returned to pre-pandemic highs, deal values are going up in sectors such as AI, manufacturing, robotics and space tech, many of which have already exceeded their investment totals for all of 2024.

Meet 6 of the fastest-growing scaleup companies in Houston right now

meet the finalists

From raising funding rounds to earning FDA acceptance, some of Houston's most innovative companies have reached major milestones this year.

The 2025 Houston Innovation Awards will recognize their progress by bringing back our Scaleup of the Year category for the second year. The award honors an innovative later-stage startup that's recently reached a significant milestone in company growth.

Six breakthrough businesses have been named finalists for the 2025 award. They range from climatetech startups to a biotech company developing new drugs for neurodegenerative diseases and more.

Read more about these businesses and their impressive growth below. Then join us at the Houston Innovation Awards on Nov. 13 at Greentown Labs, when the winner will be unveiled at our live awards ceremony.

Tickets are now on sale for this exclusive event celebrating all things Houston Innovation. Corporate 10-packs, featuring reserved seating and custom branding, and individual tickets are still available. Secure your seats today.

Coya Therapeutics

Clinical-stage biotechnology company Coya Therapeutics (NASDAQ: COYA) has developed COYA-302 that enhances anti-inflammatory T cell function and suppresses harmful immune activity. The drug candidate is being advanced for several neurodegenerative diseases—including ALS, Alzheimer’s, Parkinson’s, and frontotemporal dementia—and has demonstrated promising reductions in neuroinflammation in preclinical and early clinical studies, according to the company.

Coya, founded in 2021, received FDA acceptance for its investigational new drug application for COYA-30 this summer. It closed its IPO in January 2023 for more than $15 million and added $26 million in PIPE funding that same year. Last year, the company secured an additional $15 million in PIPE funding.

Fervo Energy

Houston-based Fervo Energy is working to provide 24/7 carbon-free energy through the development of cost-competitive geothermal power. The company is developing its flagship Cape Station geothermal power project in Utah, which is expected to generate 400 megawatts of clean energy for the grid. The first phase of the project will supply 100 megawatts of power beginning in 2026. The second phase is scheduled to come online by 2028.

The company raised $205.6 million in capital to help finance the project earlier this year and fully contracted the project's capacity with the addition of a major power purchase agreement from Shell. Founded in 2017 by CEO Tim Latimer and CTO Jack Norbeck, Fervo is now a unicorn, meaning its valuation as a private company has surpassed $1 billion. In March, Axios reported Fervo is targeting a $2 billion to $4 billion valuation in an IPO.

Koda Health

Houston-based Koda Health has developed an advance care planning platform (ACP) that allows users to document and share their care preferences, goals and advance directives for health systems. The web-based platform guides patients through values-based decisions with interactive tools and generates state-specific, legally compliant documents that integrate seamlessly with electronic health record systems. The company also added kidney action planning to its suite of services for patients with serious illnesses last year.

Koda Health was founded out of the TMC's Biodesign Fellowship in 2020 by CEO Tatiana Fofanova, chief medical officer Dr. Desh Mohan, and chief technology officer Katelin Cherry. The company raised a $7 million series A earlier this year, and also announced major partnerships and integrations with Epic, Guidehealth, Medical Home Network, Privia Health and others.

Mati Carbon

Houston climatetech company Mati Carbon removes carbon through its Enhanced Rock Weathering (ERW) program that works with agricultural farms in Africa and India. Mati says the farmers it partners with are some of the most vulnerable to the impacts of climate change. The nonprofit won the $50 million grand prize in the XPRIZE Carbon Removal competition, backed by Elon Musk’s charitable organization, The Musk Foundation, earlier this year.

Mati Carbon scaled operations in India, Zambia, and Tanzania this year and has advanced its proprietary measurement, reporting and verification (MRV) platform, known as matiC, enabling seamless field data capture, chain-of-custody and carbon accounting at scale. The company was founded in 2022 by co-directors Shantanu Agarwal and Rwitwika Bhattacharya.

Molecule

Houston-based Molecule Software has developed an energy trading risk management (ETRM) platform that allows companies trading power, oil and gas, biofuels, renewables and more stay ahead as the markets evolve.

The company closed a Series B round earlier this year for an undisclosed amount. Sameer Soleja, founder and CEO of Molecule, said at the time that the funding would allow the company to "double down on product innovation, grow our team, and reach even more markets." The company was founded in 2012 by CEO Sameer Soleja and participated in the Surge Accelerator the same year.

Utility Global

Houston-based Utility Global has developed its proprietary eXERO technology that produces low-cost, clean hydrogen from water and industrial off-gases without requiring grid electricity.

First founded in 2018 by CEO Parker Meeks, the company participated in Greentown Labs and the Rice Alliance for Technology and Entrepreneurship programs. It raised a $55 million funding round earlier this year and launched commercial partnerships with ArcelorMittal Brazil and Hanwha Group in South Korea to deploy its hydrogen solutions at scale.

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