Houston medtech startup secures additional $3M for lung cancer diagnostic tool

fresh funding

Prana Thoracic Inc., a Houston medical device company developing a tool for early interception of lung cancer, announced an additional $3 million in funding. Photo via Getty Images

A Houston-based medtech startup with an innovative tool that's aiming to transform lung cancer intervention has closed its series A extension round.

Prana Thoracic announced an additional $3 million in funding, a raise that was oversubscribed by 30 percent, reports the company. The company's series A originally closed in March 2023 at $3 million. In August of 2022, the company secured $3 million in grant funding.

"We are grateful for the overwhelming support from our investors in this financing round. Their confidence in our mission and plan is motivating,” Joanna Nathan, CEO and co-founder of Prana Thoracic, says in a news release. “This additional funding will enable us to accelerate our efforts in bringing precision surgical solutions to lung cancer patients worldwide.”

The extension included participation from new investors, including cultivate(MD), GenHenn Capital, and Houston Angel Network, as well as from prior lead investor New World Angels. Existing investors — Johnson & Johnson Development Corp, Texas Medical Center Venture Fund, and the Cancer Prevention & Research Institute of Texas (CPRIT) — also support the company.

"We are excited to support Prana Thoracic in their mission to improve lung cancer treatment. Their innovative approach has the potential to significantly impact patient outcomes," says Dr. R. Sean Churchill, managing director of cultivate(MD), in the release.

The additional funding will support the company as it advances through its clinical and regulatory plans.

“The team has made remarkable progress in developing this novel and minimally invasive technique for lung tissue excision, which has the potential to transform the diagnosis and treatment of early-stage lung cancer," adds Dr. Edward M. Boyle, founder and director at the company. "Beyond lung applications, they are pioneering new methods to use this technology for other soft tissues and are actively exploring integration with ablation and robotic systems, aligning with the future direction of these fields."

In 2022, Nathan joined the Houston Innovators Podcast to discuss her passion for Prana Thoracic's innovation. Listen to the episode below.

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Houston maritime startup raises $43M to electrify vessels, opens new HQ

Maritime Mission

A Houston-based maritime technology company that is working to reduce emissions in the cargo and shipping industry has raised VC funding and opened a new Houston headquarters.

Fleetzero announced that it closed a $43 million Series A financing round this month led by Obvious Ventures with participation from Maersk Growth, Breakthrough Energy Ventures, 8090 Industries, Y Combinator, Shorewind, Benson Capital and others. The funding will go toward expanding manufacturing of its Leviathan hybrid and electric marine propulsion system, according to a news release.

The technology is optimized for high-energy and zero-emission operation of large vessels. It uses EV technology but is built for maritime environments and can be used on new or existing ships with hybrid or all-electric functions, according to Fleetzero's website. The propulsion system was retrofitted and tested on Fleetzero’s test ship, the Pacific Joule, and has been deployed globally on commercial vessels.

Fleetzero is also developing unmanned cargo vessel technology.

"Fleetzero is making robotic ships a reality today. The team is moving us from dirty, dangerous, and expensive to clean, safe, and cost-effective. It's like watching the future today," Andrew Beebe, managing director at Obvious Ventures, said in the news release. "We backed the team because they are mariners and engineers, know the industry deeply, and are scaling with real ships and customers, not just renderings."

Fleetzero also announced that it has opened a new manufacturing and research and development facility, which will serve as the company's new headquarters. The facility features a marine robotics and autonomy lab, a marine propulsion R&D center and a production line with a capacity of 300 megawatt-hours per year. The company reports that it plans to increase production to three gigawatt-hours per year over the next five years.

"Houston has the people who know how to build and operate big hardware–ships, rigs, refineries and power systems," Mike Carter, co-founder and COO of Fleetzero, added in the release. "We're pairing that industrial DNA with modern batteries, autonomy, and software to bring back shipbuilding to the U.S."

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This article originally appeared on EnergyCapitalHTX.com.

New cancer-fighting nanodrug tops Houston innovation news to know

Trending News

Editor's note: The new year brings big Houston innovation news, from pending retirements to new hires and a cancer-fighting nanodrug. Below are the five most-read InnovationMap stories published January 16-30, 2026:

1. Houston team uses CPRIT funding to develop nanodrug for cancer immunotherapy

Wei Gao (center), a UH assistant professor of pharmacology, and her team have developed Nano-273, which helps the immune system fight pancreatic and lung cancers. Photo courtesy UH.

With a relative five-year survival rate of 50 percent, pancreatic cancer is a diagnosis nobody wants. At 60 percent, the prognosis for lung cancer isn’t much rosier. That’s because both cancers contain regulatory B cells (Bregs), which block the body’s natural immunity, making it harder to fight the enemies within. Newly popular immunotherapies in a category known as STING agonists may stimulate natural cancer defenses. However, they can also increase Bregs while simultaneously causing significant side effects. But Wei Gao, assistant professor of pharmacology at the University of Houston College of Pharmacy, may have a solution to that conundrum. Continue reading.

2. Rice Alliance and the Ion leader Brad Burke to retire this summer

Houston entrepreneurship and innovation leader Brad Burke is set to retire on June 30. Photo by Jeff Fitlow/Rice University

Brad Burke—a Rice University associate vice president who leads the Ion District’s Rice Alliance for Technology and Entrepreneurship and is a prominent figure in Houston’s startup community—is retiring this summer after a 25-year career at the university. Burke will remain at the Rice Alliance as an adviser until his retirement on June 30. Continue reading.

3. 5+ must-know application deadlines for Houston innovators

The University of Michigan's Intero Biosystems earned a top-place finish and the largest total investment from the 2025 Rice Business Plan Competition. Photo courtesy Rice University.

As 2026 ramps up, the Houston innovation scene is looking for the latest groups of innovative startups that'll make an impact. A number of accelerators and competitions have opened applications. See which might be a good fit for you or your venture, and take careful note of the deadlines. Continue reading.

4. Houston startups closed $1.75 billion in 2025 VC funding, says report

Local startups collected $1.75 billion in venture capital in 2025. Photo via Pexels.

Going against national trends, Houston-area startups raised 7 percent less venture capital last year than they did in 2024, according to the PitchBook-NVCA Venture Monitor report. The report shows local startups collected $1.75 billion in venture capital in 2025, down from $1.89 billion the previous year. Continue reading.

5. Baylor College of Medicine names Minnesota med school dean as new president, CEO ​

Baylor College of Medicine has named Dr. Jakub Tolar as its new president, CEO and executive dean. Photo courtesy of Mendel Lectures.

Dr. Jakub Tolar, dean of the University of Minnesota Medical School, is taking over as president, CEO and executive dean of Houston’s Baylor College of Medicine on July 1. Tolar—who’s also vice president for clinical affairs at the University of Minnesota and a university professor—will succeed Dr. Paul Klotman as head of BCM. Klotman is retiring June 30 after leading Texas’ top-ranked medical school since 2010. Continue reading.

Innovative Houston-area hardtech startup closes $5M seed round

fresh funding

Conroe-based hardtech startup FluxWorks has closed a $5 million seed round.

The funding was led by Austin-based Scout Ventures, which invests in early-stage startups working to solve national security challenges.

Michigan Capital Network also contributed to the round from its MCN Venture Fund V. The fund is one of 18 selected by the Department of Defense and Small Business Administration to participate in the Small Business Investment Company Critical Technologies Initiative, which will invest $4 billion into over 1,700 portfolio companies.

FluxWorks reports that it will use the funding to drive the commercialization of its flagship Celestial Gear technology.

"At Scout, we invest in 'frontier tech' that is essential to national interest. FluxWorks is doing exactly that by solving critical hardware bottlenecks with its flagship Celestial Gear technology ... This is about more than just gears; it’s about strengthening our industrial infrastructure," Scout Ventures shared in a LinkedIn post.

Fluxworks specializes in making contactless magnetic gears for use in extreme conditions, which can enhance in-space manufacturing. Its contactless design leads to less wear, debris and maintenance. Its technology is particularly suited for space applications because it does not require lubricants, which can be difficult to control at harsh temperatures and in microgravity.

The company received a grant from the Texas Space Commission last year and was one of two startups to receive the Technology in Space Prize, funded by Boeing and the Center for the Advancement of Science in Space (CASIS), in 2024. It also landed $1.2 million through the National Science Foundation's SBIR Phase II grant this fall.

Fluxworks was founded in College Station by CEO Bryton Praslicka in 2021. Praslicka moved the company to Conroe 2024.

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