Houston robotics co. closes series B after year of growth

money moves

The advanced submersible robotics company will put the funds toward international expansion. Photo courtesy of Square Robot

Houston- and Boston-based Square Robot Inc. closed a series B round of funding last month.

The advanced submersible robotics company raised $13 million, according to Tracxn.com, and says it will put the funds toward international expansion.

"This Series B round, our largest to date, enables us to accelerate our growth plans and meet the surging global demand for our services,” David Lamont, CEO, said in a statement.

The company aims to establish a permanent presence in Europe and the Middle East and grow its delivery services to reach four more countries and one new continent in Q1 2025.

Additionally, Square Robot plans to release a new robot early next year. The robot is expected to be able to operate in extreme temperatures up to 60 C. The company will also introduce its first AI-enabled tools to improve data collection.

Square Robot launched its Houston office in 2019. Its autonomous, submersible robots are used for storage tank inspections and eliminate the need for humans to enter dangerous and toxic environments.

The company was one of the first group of finalists for the Houston Innovation Awards' Scaleup of the Year, which honors a Bayou City company that's seen impressive growth in 2024. Click here to read more about the company's growth.

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This article originally ran on EnergyCapital.

Houston-based Welligence Energy Analytics specializes in data and intelligence for the oil and gas markets, greenhouse gas emissions sector, and CCUS projects. Photo via Getty Images

Houston analytics startup raises $41M series B

money moves

A group of investors has chipped in $41 million to purchase a minority stake in Houston-based Welligence Energy Analytics, a provider of energy data and intelligence.

Boston-based venture capital firm Elephant Partners led the series B round, with participation from Veriten, a Houston-based, energy-focused research, investing, and strategy firm, and EDG, a Metairie, Louisiana-based energy consulting firm. Several executives from the energy, information services, and software sectors also contributed to the round.

Founded in 2016, Welligence specializes in data and intelligence for the oil and gas markets, greenhouse gas emissions sector, and carbon capture, storage, and utilization (CCUS) projects. Clients include major oil and gas companies, as well as large investment banks.

“Our team is proud of the growth we’ve achieved over the last six years. The foundation of Welligence has now been built. We have a world-class team, a robust database and platform, and a brand recognized globally in our industry,” Welligence co-founder and CEO Ross Lubetkin says in a news release. “Raising significant capital from some of the market’s most sophisticated investors with a proven track record is a pivotal step towards realizing the Welligence vision — to solidify our presence as a leading global energy research house.”

Welligence says it will use the funding to beef up its product offerings, expand its geographic data capabilities, and enter new energy research verticals. The company has employees and clients in North America, Africa, Asia, Europe, Latin America, and the Middle East, and it plans to open more global offices.

“We have been extremely impressed by the Welligence team and product and are excited by the scalability of the platform. Through the company’s use of new technology, ideas, and methodologies, Welligence continues to take market share in a space traditionally monopolized by a few legacy players,” says Christopher De Souza, a partner at Elephant. “Welligence’s global energy database positions it well for expansion into new frontiers.”

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This article originally ran on EnergyCapital.

It's payday for a startup that's improving analytics for its energy customers. Photo via Getty Images

Energy tech startup secures $20M series B, plans to expand platform

money moves

A Houston startup has raised $20 million in its latest round of funding in order to accelerate its energy analytics and grid decarbonization technology.

Amperon Holdings Inc. announced today that it closed its series B round at $20 million. Energize Capital led the round and the D. E. Shaw group, Veriten, and HSBC Asset Management, an existing investor, joined in on the round. Additionally, two of Amperon's early customers, Ørsted and another strategic utility partner, participated in the series B, which brought Amperon’s total funding to $30 million.

The fresh funding will support the company in evolving its platform that conducts electricity demand forecasting to a comprehensive data analytics solution. Amperon's solution has an opportunity to really impact the industry's "increasingly turbulent power grids worldwide" among climate change and rapid adoption of variable energy resources, like wind and solar, the company explains in a news release about its raise.

“The energy transition is creating unprecedented market volatility, and Amperon is uniquely positioned to help market participants better navigate the transitioning grid – both in the U.S. and as we expand globally,” Sean Kelly, CEO and co-founder of Amperon, says in the release. “We've already established ourselves as the premier provider of electricity demand forecasting software. With this funding, we are poised to leverage our cutting-edge AI models to enable customers to unlock more value from data and asset optimization, spanning from on-site solar to commercial load management with backup generation and microgrid deployment.”

With the round, Energize Capital Partner Tyler Lancaster joins the Amperon board of directors.

“Today’s electricity grid is facing uniquely modern challenges as we work to rapidly transform our energy assets and decarbonize our economy,” he says in the release. “To facilitate the energy transition – a multitrillion-dollar market opportunity — we need more software tools custom-built to handle the complexities of our evolving energy markets.

"Amperon’s AI-powered analytics platform is exactly that, providing the accuracy and sophistication necessary for energy players across the value chain to manage their energy use and streamline our collective pathway to net-zero," he continues. "After getting to know Sean and the Amperon team since inception, Energize is thrilled to officially partner with them as a lead investor in this funding.”

In the past two years, Amperon reports that it grew revenue by five times, as well as quadrupled its team. The company was founded in 2017 and raised its $7 million series A last year.

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This article originally ran on EnergyCapital.

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Intuitive Machines to buy satellite maker Lanteris for $800M

space deal

Houston-based aerospace company Intuitive Machines has agreed to buy satellite manufacturer Lanteris Space Systems for $800 million from private equity firm Advent International.

Intuitive Machines co-founder, president and CEO Steve Altemus said the combined revenue of his company and Palo Alto, California-based Lanteris exceeded $850 million as of Sept. 30, and their backlog of orders totaled $920 million.

Until recently, Lanteris operated as Maxar Space Systems. Its origins date back to 1957.

The deal—comprising $450 million in cash and $350 million in Class A shares of Intuitive Machines stock—is expected to close in the first quarter of 2026.

The acquisition “marks the moment Intuitive Machines transitions from a lunar company to a multi-domain space [company], setting the pace for how the industry’s next generation will operate,” Altemus said.

Altemus said the acquisition would enable Intuitive Machines to better compete for Earth orbit, lunar, Mars and deep space projects. Among the opportunities that would open up thanks to the Lanteris deal are the proposed Golden Dome missile defense system and a large lunar lander capable of carrying astronauts, he said.

“The new Intuitive Machines will combine rapid innovation and precision spacecraft production to meet the growing demand for responsive, high-reliability space infrastructure and services,” Altemus said.

Intuitive Machines, founded in 2013, develops lunar landers and provides aerospace services. In 2024, it became the first U.S. company to land a spacecraft on the moon in half a century.

Altemus said Intuitive Machines is already building three satellites for NASA’s near-space network, and it might upsize two more satellites now that it plans to buy Lanteris.

Aside from satellites, Lanteris is developing the power and propulsion element for NASA’s Gateway, a lunar orbiting command module that will support Artemis missions and deep space exploration.


Lanteris was a division of Maxar Technologies, which Advent and minority investor British Columbia Investment Management took private in a 2023 deal valued at $6.4 billion

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Meet 6 mentors who are helping the Houston startup scene flourish

meet the finalists

Few founders launch successful startups alone — experienced and insightful mentors often play an integral role in helping the business and its founders thrive.

The Houston startup community is home to many mentors who are willing to lend an ear and share advice to help entrepreneurs meet their goals.

The Mentor of the Year category in our 2025 Houston Innovation Awards will honor an individual like this, who dedicates their time and expertise to guide and support budding entrepreneurs. The award is presented by Houston City College Northwest.

Below, meet the six finalists for the 2025 award. They support promising startups in the medical tech, digital health, clean energy and hardware sectors.

Then, join us at the Houston Innovation Awards this Thursday, Nov. 13 at Greentown Labs, when the winner will be unveiled. The event is just days away, so secure your seats now.

Anil Shetty, InformAI

Anil Shetty serves as president and chief medical officer for biotech company Ferronova and chief innovation officer for InformAI. He's mentored numerous medical device and digital health companies at seed or Series A, including Pathex, Neurostasis, Vivifi Medical and many others. He mentors through organizations like Capital Factory, TMC Biodesign, UT Venture Mentoring, UTMB Innovation and Rice's Global Medical Innovation program.

"Being a mentor means empowering early-stage innovators to shape, test, and refine their ideas with clarity and purpose," Shetty says. "I’m driven by the opportunity to help them think strategically and pivot early before resources are wasted. At this critical stage, most founders lack the financial means to bring on seasoned experts and often haven’t yet gained real-world exposure. Mentorship allows me to fill that gap, offering guidance that accelerates their learning curve and increases the chances of meaningful, sustainable impact."

Jason Ethier, EnergyTech Nexus

Jason Ethier is the founding partner of EnergyTech Nexus, through which he has mentored numerous startups and Innovation Awards finalists, including Geokiln, Energy AI Solutions, Capwell Services and Corrolytics. He founded Dynamo Micropower in 2011 and served as its president and CEO. He later co-founded Greentown Labs in Massachusetts and helped bring the accelerator to Houston.

"Being a mentor means using my experience to help founders see a clearer path to success. I’ve spent years navigating the ups and downs of building companies, struggling with cash flow, and making all the mistakes; mentoring gives me the chance to share those lessons and show entrepreneurs the shortcuts I wish I’d known earlier," Ethier says. "At Energytech Nexus, that role goes beyond just helping individual founders — it’s about creating a flywheel effect for Houston’s entire innovation ecosystem."

Jeremy Pitts, Activate Houston

Jeremy Pitts serves as managing director of Activate Houston, which launched in Houston last year. He was one of the founders of Greentown Labs in the Boston area and served in a leadership role for the organization between 2011 and 2015. Through Activate, he has mentored numerous impactful startups and Innovation Awards finalists, including Solidec, Coflux Purification, Bairitone Health, Newfound Materials, Deep Anchor Solutions and others.

"Being a mentor to me is very much about supporting the person in whatever they need. Oftentimes that means supporting the business—providing guidance and advice, feedback, introductions, etc," But just as important is recognizing the person and helping them with whatever challenges they are going through ... Sometimes they need a hype man to tell them how awesome they are and that they can go do whatever hard thing they need to do. Sometimes they just need an empathetic listener who can relate to how hard these things are. Being there for the person and supporting them on their journey is key to my mentorship style."

Joe Alapat, Liongard

Joe Alapat founded and serves as chief strategy officer at Houston software company Liongard and chief information officer at Empact IT, which he also owns. He mentors through Founder Fridays Houston Group, Software Day by Mercury Fund, SUPERGirls SHINE Foundation, Cup of Joey and at the Ion. He's worked with founders of FlowCare, STEAM OnDemand, Lokum and many other early stage startups.

"Being a mentor to me means unleashing an individual’s 10x—their purpose, their ikigai (a Japanese concept that speaks to a person’s reason for being)," Alapat says. "Mentoring founders in the Houston community of early stage, high-growth startups is an honor for me. I get to live vicariously through a founder’s vision of the future. Once they show me that compelling vision, I’m drawn to bring the future forward with them so the vision becomes reality with a sense of urgency."

Neal Dikeman, Energy Transition Ventures

Neal Dikeman serves as partner at early stage venture fund Energy Transition Ventures, executive in residence at Greentown Labs, and offices in and supports Rice Nexus at the Ion. He mentors startups, like Geokiln, personally. He also mentored Helix Earth through Greentown Labs. The company went on to win in the Smart Cities, Transportation & Sustainability contest at SXSW earlier this year. Dikeman has helped launch several successful startups himself, most recently serving on the board of directors for Resilient Power Systems, which was acquired by Eaton Corp for $150 million.

"Founders have to find their own path, and most founders need a safe space where they can discuss hard truths outside of being 'on' in sales mode with their team or board or investors, to let them be able to work on their business, not just in it," Dikeman says.

Nisha Desai, Intention

Nisha Desai serves as CEO of investment firm Intention and mentors through Greentown Labs, TEX-E, Open Minds, the Rice Alliance Clean Energy Accelerator, Avatar Innovations and The Greenhouse. She currently works with founders from Solidec, Deep Anchor Solutions, CLS Wind and several other local startups, several of which have been nominated for Innovation Awards this year. She's served a board member for Greentown Labs since 2021.

"When I first started mentoring, I viewed my role as someone who was supposed to prevent the founder from making bad decisions. Now, I see my role as a mentor as enabling the founder to develop their own decision-making capability," Desai says. "Sometimes that means giving them the space to make decisions that might be good, that might be bad, but that they can be accountable for. At the end of the day, being a mentor is like being granted a place on the founder's leadership development journey, and it's a privilege I'm grateful for."

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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.

Rice, Houston Methodist developing soft 'sleep cap' for brain health research

Researchers and scientists at Rice University and Houston Methodist are developing a “sleep cap” that aims to protect the brain against dementia and other similar diseases by measuring and improving deep sleep.

The project is a collaboration between Rice University engineering professors Daniel Preston, Vanessa Sanchez and Behnaam Aazhang; and Houston Methodist neurologist Dr. Timea Hodics and Dr. Gavin Britz, director of the Houston Methodist Neurological Institute and chairman of the Department of Neurosurgery.

According to Rice, deep sleep is essential for clearing waste products from the brain and nightly “cleaning cycles” help remove toxic proteins. These toxic proteins, like amyloids, can accumulate during the day and are linked to Alzheimer’s disease and other neurological issues.

Aazhang, director of the Rice Neuroengineering Initiative, and his team are building a system that not only tracks the brain’s clearing process but can also stimulate it, improving natural mechanisms that protect against neurodegeneration.

Earlier proof-of-concept versions of the caps successfully demonstrated the promise of this approach; however, they were rigid and uncomfortable for sleep.

Preston and Sanchez will work to transform the design of the cap into a soft, lightweight, textile-based version to make sleep easier, while also allowing the caps to be customizable and tailored for each patient.

“One of the areas of expertise we have here at Rice is designing wearable devices from soft and flexible materials,” Preston, an assistant professor of mechanical engineering, said in a news release. “We’ve already shown this concept works in rigid device prototypes. Now we’re building a soft, breathable cap that people can comfortably wear while they sleep.”

Additionally, the research team is pursuing ways to adapt their technology to measure neuroinflammation and stimulate the brain’s natural plasticity. Neuroinflammation, or swelling in the brain, can be caused by injury, stroke, disease or lifestyle factors and is increasingly recognized as a driver of neurodegeneration, according to Rice.

“Our brain has an incredible ability to rewire itself,” Aazhang added in the release. “If we can harness that through technology, we can open new doors for treating not just dementia but also traumatic brain injury, stroke, Parkinson’s disease and more.”

The project represents Rice’s broader commitment to brain health research and its support for the Dementia Prevention Research Institute of Texas (DPRIT), which passed voter approval last week. The university also recently launched its Rice Brain Institute.

As part of the project, Houston Methodist will provide access to clinicians and patients for early trials, which include studies on patients who have suffered traumatic brain injury and stroke.

“We have entered an era in neuroscience that will result in transformational cures in diseases of the brain and spinal cord,” Britz said in the release. “DPRIT could make Texas the hub of these discoveries.”
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