Venus Aerospace closes $91 million Series B to scale hypersonic engine

flight funding

Venus Aerospace has secured funding from Mercury Fund, Lockheed Martin Ventures and others. Photo courtesy Venus Aerospace

Houston-based Venus Aerospace has closed a $91 million Series B round and plans to scale the production of its hypersonic engine.

The round was led by Houston-based Mercury Fund with participation from Lockheed Martin Ventures, MESH, PEAK6, Draper Associates, Starboard Star Venture Capital, Green Sands Equity and other investors, according to a news release.

The investment comes about a year after Venus completed the first U.S. flight test of its high-thrust rotating detonation rocket engine (RDRE). The engine is expected to enable vehicles to travel four to six times the speed of sound from a conventional runway and is about 15 percent more efficient than traditional alternatives, according to the company.

Venus Aerospace says the latest round of funding will allow it to move the RDRE from demonstration to deployment and meet customer requirements for the near-term defense and space industries. The company says that the reusable RDRE is designed with a "common propulsion architecture" that can work for multiple industries and mission types.

“This financing marks an important step in moving Venus from breakthrough demonstration to scaled capability,” Sassie Duggleby, co-founder and CEO, said in the news release. “Our customers need propulsion systems that go farther, can be produced reliably and are built on supply chains they can trust. We are advancing that capability with American engineering and manufacturing talent to strengthen U.S. defense, expand space access and support the future of high-speed flight.”

Venus Aerospace raised a $20 million Series A in 2022, led by Wyoming-based Prime Movers Lab. At the time, the company said it would put the funding toward three main technologies: a next-generation rocket engine, aircraft shape and leading-edge cooling system.

The company also picked up an investment from Lockheed Martin Ventures, the investment arm of aerospace and defense contractor Lockheed Martin, in November 2025—in addition to funding from other investors over the years.

“Since our initial investment, Venus has progressed very quickly in its technology development," Chris Moran, vice president and general manager of Lockheed Martin Ventures, added in the release. "Our reinvestment in Venus recognizes Venus’ accomplishments to date and focus on speed to manufacture, cost management and reduction of supply chain constraints. Venus is working effectively to position its propulsion system for the production scale required by defense programs.”

"Venus is exactly the kind of company Houston capital should be backing," Blair Garrou, co-founder and managing partner at Mercury Fund, added in the release. "It combines multiple frontier technologies, domestic manufacturing and clear commercial and national security relevance. We believe this team is positioned to lead an important new chapter in defense and space, and we are proud to support a company building breakthrough technology here in Texas."

Venus Aerospace and Houston clean tech startup Vaulted Deep were named to the World Economic Forum's Technology Pioneers community earlier this summer. Read more here.

From Your Site Articles
Velostics has raised additional funding to grow its logistics software. Photo via velostics.com

Houston startup raises nearly $2M to expand logistics SaaS platform

seed funding

A Houston company that's providing innovative unified scheduling software for the logistics industries has raised additional seed funding.

Houston-based Velostics Inc. raised $1.95 million, the company announced this week. The additional seed round follows a $2.5 million round announced in 2021. The Velostics platform optimizes scheduling for inbound and outbound trucks, saving companies money across the supply chain and resulting in fewer emissions from idling trucks.

“Scheduling is a major headache for all parties focused on reducing cost and delivering on high customer expectations — our cloud based solution is designed to go live in one day with no apps required,” Gaurav Khandelwal, founder and CEO of Velostics, says in a news release.

Houston-based Starboard Star Venture Capital led the round, and Flyover Capital and Small Ventures USA, both previous investors in Velostics, contributed too. Additionally, Mexico-based Capital Mazapil joined in as a new investor. The family office has close ties to a leading CPG company with a global footprint of manufacturing plants and distribution warehouses, per the news release.

“At a time where all costs are increasing, Velostics has a proven solution that brings real cost savings and more importantly, increased capacity to manufacturing facilities, warehouses and fuel terminals," Keith Molzer, founding partner at Flyover Capital, says in the news release.

Khandewal founded Velostics in 2019 after seeing the business opportunity through ChaiOne, a Houston software company he's run since 2009. In an episode of the Houston Innovators Podcast, he shared the story of Velostics and why he thinks the city has a great opportunity to be a leader in logistics technology.

Houston-based sEATz has closed a funding round and plans to reach more fans than ever this football season. Courtesy of sEATz

Exclusive: Houston-based stadium ordering app closes near $1.3 million Seed round with plans to scale

Fantech

Fans across the country are headed to football stadiums this weekend to cheer on their teams, but only a few will have the luxury of ordering food, beer, and even merchandise from the comfort of their seats.

Houston-based sEATz has created a platform where fans can order just about anything their stadium has from an app. Much like any other ordering app, once the order is placed, a runner will pick up the food and deliver it to the customer for a small fee and a tip.

The startup is now preparing to scale up from seven venues to 10 before the year is over as well as launching a new version of the app thanks to an oversubscribed near $1.3 million Seed round led by Houston-based Valedor Partners. Houston-based Starboard Star Venture Capital also contributed to the round. SEATz has plans to launch its Series A round before the new year.

"We're building enterprise-level, scalable in-seat ordering, delivery, and pick-up software. We'll have all the data and validation we need this fall to really start to push that out," says CEO and co-founder Aaron Knape.

SEATz got its start when co-founder and COO Marshall Law missed a particularly amazing play by the Astros during a World Series gameduring a World Series game because he was waiting in line to get food for his family. In a world of Uber and Favor, it was time for stadiums to step up their convenience. Law and Knape had been friends for a while — they met through their wives — and they regularly bounced business ideas off each other.

"We would meet every couple weeks in the Heights for coffee and throw spaghetti at the wall. We knew we'd eventually find an idea together," Law says. "After I left that Astros game, I texted him from the parking lot and told him, 'I found it.'"

The duo teamed up with another friend, Craig Ceccanti —CEO and founder of Houston-based Pinot's Palette, which has locations across the United States — and created sEATz's parent company, Rivalry Technologies. The name's an homage to the fact that the men are from rivalry schools — Law went to the University of Texas, Knape went to Texas A&M University, and Ceccanti went to Louisiana State University.

Part of sEATz ability to grow so rapidly has been a series of key partnerships. A Rice University business master's grad, Knape got them a foot in the door at his alma mater, and sEATz's first game was at Rice last year. Then, the startup was connected to Jamey Rootes, president at the Houston Texans, at an event at The Cannon Houston. That partnership lead to an introduction with Philadelphia-based Aramark Corp., a global food service and staffing company. SEATz is a member of Cannon Ventures, as well as being a member company of Capital Factory, which has its Houston outpost at The Cannon.

"At this point, we know that fans want food in their seats," Knape says. "That concerns the concessionaires because they don't want an app that just helps them sell food, because they already have long lines. What we have on the back end actually helps them divert that traffic and reduce those lines."

Aramark got sEATz into the University of Houston's basketball games, but the university then switched their food service company to Delaware North. However, sEATz had proven itself to the athletic department at UH, and wrote it in Delaware North's contract that they will work with sEATz.

At this point, the growing company has contracts in Houston with NRG Stadium, UH's TDECU Stadium and Fertitta Center, Rice Stadium, and Constellation Field. SEATz also worked 71 games of the Corpus Cristi Hooks and recently had its first out-of-state expansion to the University of Southern Mississippi. In its first game on campus, sEATz saw over 700 downloads for just the first game.

"Now that we're there, Mississippi State and Ole Miss want it too," Knape says. "Our expansion is really coming on."

The team has big ideas for sEATz and Rivalry Technologies. SEATz has applications in all types of venues — music or entertainment and even resorts.

sEATz Concession food to your seat? That's what sEATz makes possible. Courtesy of sEATz

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

What to expect from the inaugural TiECon Texas event this week

where to be

Innovators and entrepreneurs will gather in Houston this week to show off their latest advancements in automation during the first-ever TiECon Texas conference at the Ion District.

“Automation is not simply changing how we work. It is redefining how value is created across every industry,” Somesh Singh, president of TiE Houston, said in a release. “Texas has the talent, the infrastructure, and the entrepreneurial spirit to lead this transformation. TiEcon Texas 2026 is where the people building that future will come together to shape it."

The Indus Entrepreneurs (TiE) started in Silicon Valley in 1994 as a two-day seminar, but has grown into a worldwide network of events celebrating technological advancement. TiECon in Houston is a merger of the TiE networks across Texas for one large-scale event taking place at the Ion on Wednesday, October 28, and Thursday, October 29. Tickets are available here.

The event includes a partnership with Hatch Pitch, a founder-first startup showcase that has raised over $20 billion in funding for new companies in the tech industry. Participants will come from industries like space exploration, healthcare, energy, and the AI sector to present their ideas in front of an investor network for possible development.

“Over 80 percent of the teams we have coached have gone on to receive funding,” Greg Wright, founder of Hatch Pitch, added in a release.

In addition, there will be forums and talks on a variety of automation subjects, everything from robotic surgery to automation in government. Educators from Baylor College of Medicine, UTHealth Houston, and the University of Houston plan to discuss the raising of children in a world with extensive artificial intelligence integrated into so many areas. Steven Kean, President and CEO of the Greater Houston Partnership, will give the keynote speech on the Bayou City’s place in these emerging technological spheres.

Singh highlighted how the large-scale disruptions in the technological status quo by the rise of AI could be a sign of potential growth and innovation. The entrepreneurs presenting at TiECon may be the ones to harness the sometimes unsteady AI industry for good causes.

“History shows that periods of technological disruption create extraordinary opportunities for those prepared to act,” he said. “TiEcon Texas is designed to help founders, investors, and enterprises understand where the automation economy is headed and how to participate in building it."

Here are the 10 startups pitching during the TiE Hatch Pitch competition:

Houston startup makes Time's list of the best inventions of 2026

Innovation Station

One of the year's most buzzworthy innovations comes from a Houston-based leader in the energy transition. Utility Global's H2Gen recently made Time magazine’s list of the 300 best inventions of 2026.

The H2Gen is an innovative system that produces low-cost clean hydrogen from water and industrial off-gases. The company says the process doesn’t require electricity, a notable claim since hydrogen production typically consumes a lot of power.

"Using a tubular electrochemical cell containing a proprietary electrolyte and water, the company can turn industrial off-gases into hydrogen at scale—no extra electricity required," writes Time. "Bonus: the process also pulls out carbon dioxide as a separate stream, where it can be captured and kept out of the atmosphere.

CEO Parker Meeks tells Time, it's “a practical pathway to decarbonize existing industrial assets."

The startup is on a roll. It has raised $100 million so far in an ongoing Series D round to offer its decarbonization technology at industrial scale around the world.

H2Gen is joined by 10 other inventions with Texas connections onTime's list, as well as one "special mention."

In North Texas, they are:

Samsung
Plano-based Samsung Electronics America pulled off a hat trick this year, with three products making Time’s list. First up is the Galaxy S26 Ultra smartphone. It packs a more powerful camera, Galaxy AI features, and pro-level content creation tools. But Time singled out its new built-in privacy display as the phone’s “biggest selling point.”

Samsung’s Bespoke AI Family Hub refrigerator also got smarter. When AI first came to the Family Hub in 2024, it could recognize some fresh foods, but you still had to log packaged items by hand, Time noted. Now, with Google Gemini built in, the fridge can identify more than 2,000 packaged foods, read handwritten labels, and warn you when food is about to expire. It then uses what’s inside to build grocery lists and suggest recipes.

And for gamers, there’s the Odyssey G8 monitor. Its 6K resolution leapfrogs the 4K standard, delivering what Samsung calls “exceptional visual clarity and detail” on a screen big enough for gaming and multitasking.

OxeFit
Plano-based OxeFit’s XS1 Peak is about the size of a treadmill but works like an entire gym. It can be set up for strength training, simulated skiing or kayaking, Pilates, or rowing. What makes it stand out is a built-in virtual spotter. According to Time, the machine “uses AI, computer vision and sensors to correct the user’s form, change resistance in the middle of a rep and reduce the weight when the user is struggling, much like a human spotter.”

EssilorLuxottica
EssilorLuxottica, the French eyewear giant whose U.S. headquarters is in Farmers Branch, makes Essilor Stellest lenses. The lenses correct nearsightedness while also slowing the eye growth that makes it worse over time. Stellest is the first and only eyeglass lens authorized by the U.S. Food and Drug Administration to control myopia, Time said. The lenses look like regular glasses but contain 1,021 tiny lenslets. In a U.S. trial of kids ages 6-12, myopia progression slowed by an average of 71 percent over two years compared with standard lenses.

Helpany
Helpany, a startup based in Phoenix that manufactures its devices in DFW, makes Paul, a ceiling-mounted gadget that uses radar and AI to spot subtle changes in how residents move and flag those at higher risk of falling. Helpany says the technology can cut falls by as much as 72 percent.

Aurora Innovation
Aurora, based in Pittsburgh with a corporate and operations hub in Coppell, rolled out its second-generation Driver 2 system in July. By September, Driver 2 trucks had logged more than 500,000 driverless miles without a single at-fault crash, Time reported, and the company expects 200 of them on the road by the end of 2026.

Colossal Biosciences
Dallas-based Colossal Biosciences built an artificial egg by placing an ultra-thin, transparent silicone membrane inside a rigid 3D-printed cup, letting scientists watch the embryo develop. Twenty-six chickens have already been hatched.

In Austin, they are:
Cedar Park-based Hyliion landed on Time’s list with its Karno Power Module, a modular generator designed to produce power wherever it’s needed. The Karno represents a big pivot for the company. Hyliion got its start building electrified powertrains for 18-wheelers before shifting into power generation after acquiring the Karno generator technology from GE Aerospace. Founded in Pittsburgh in 2015, the company relocated to Cedar Park in 2018.

The other Austin-associated honoree is Moment Energy. As more electric vehicles hit the road, a growing number of their batteries are nearing retirement, while demand for power keeps climbing. Moment Energy found a way to tackle both problems at once. The company’s Megafactory 1, which opened in Vancouver, Canada, in June, turns old EV batteries into modular energy storage systems for hospitals, factories, data centers, and other big power users. “Our goal is to make sure these batteries don’t end up in landfills,” founder Edward Chiang told Time.

In the “Special Mentions” category, Austin-based Renzoe Box gained notice for its refillable custom makeup palette for on-the-go people. Licensed architect René Graham designed the box. She graduated from Houston's Rice University, and was born and raised in Dallas.

---

A version of this article first appeared on CultureMap.com.

4 Houston health tech startups advancing medical innovation

meet the finalists

Houston has been driving medical innovation for decades. And thanks to leading hospitals, cutting-edge research and breakthrough technologies, the region’s healthcare ecosystem continues to improve how patients are diagnosed, treated and cared for.

The Health Tech Business category in our 2025 Houston Innovation Awards will honor an innovative startup within the health and medical technology sectors.

Four forward-thinking businesses have been named finalists for the 2026 award. This year's finalists, selected by our esteemed panel of judges, range from a startup developing miniaturized medical technologies for space to a company using AI to help develop cancer treatment plans.

Read more about these businesses, their innovative founders, and how they're shaping the future of health care below.. The 2026 winners will be announced on InnovationMap.com in mid-November.

Bairitone Health

Bairitone Health is bringing anatomy imaging for sleep apnea to the home environment. The company's platform maps users' anatomy during natural sleep using a facial patch to determine the root cause of airway obstruction. It then offers effective therapies for each patient.

The company was founded in 2022 in the Texas Medical Center's Biodesign program by CEO Meagan Pitcher, CTO Onur Kilic and chief medical officer Britt Cross. It was a member of Activate Houston's inaugural cohort and has participated in numerous accelerators and incubators. The company raised an oversubscribed seed round for $2.4 million earlier this year and received Breakthrough Device Designation from the Food and Drug Administration in April.

InformAI Inc.

InformAI Inc. develops fit-to-purpose AI solutions for the clinical setting. Its RadOncAI product recently received FDA 510(k) clearance. The product uses AI to create a first-pass radiation therapy dose plan for complex head and neck cancers in an effort to eliminate bottlenecks in radiation planning and ultimately cancer treatment. The company has also developed AI products for sinus disease detection and 3D organ reconstruction.

CEO Jim Havelka founded the company in 2017. It is participating in the Mayo Clinic Accelerate Platform. It has raised about $4 million in seed funding and has received numerous non-dilutive grants from the National Science Foundation, the National Institutes of Health and the Cancer Prevention and Research Institute of Texas. The company shared in its application that it plans to launch a Series A fundraising round and submit an FDA 510K application for its organ reconstruction product, Voluquant, by the end of 2026.

Prana Surgical

Prana Surgical is developing a minimally invasive surgical platform for small, hard-to-reach lung nodules that may be cancerous. The company's Prana System cleared U.S. Food and Drug Administration (FDA) approval earlier this year.

Prana Surgical was originally founded as Prana Thoracic in 2022. It has participated in numerous accelerators, including the Texas Medical Center Innovation Accelerator in 2023 and the IGNITE Health accelerator in 2022. It raised $6 million in Series A funding rounds in 2023 and 2024 , with a Series B currently ongoing. The company said in its application that it is currently moving into the next stage of clinical validation and revenue generation in the U.S., in addition to preparing its manufacturing and commercial infrastructure for broader use.

Skybound MedTech

Skybound MedTech develops technologies that aim to address the health risks of long-duration spaceflight. Its compact, miniaturized medical technologies can deliver complex therapies without a physician.

CEO Matthew Kuhn, who previously founded Taurus Vascular, founded Skybound last year. The company emerged from stealth in January after raising a $1.25 million Series A round. It plans to advance its lead dual-use platform into critical preclinical validation in November, the company shared in its application. It is currently raising a $25 million Series A round and is pursuing federal research partnerships with DARPA and ARPA-H.

View All Listings