Houston construction tech tool acquires Y Combinator-backed co.

M&A moves

The acquisition is part of Buildforce’s expansion plans into the southeastern U.S. Photo via Getty Images

A Houston-based platform that connects skilled electricians with top electrical contractors has made a strategic acquisition.

Buildforce announced it has acquired Ladder, which is a Y Combinator-backed, technology-enabled construction labor marketplace.

The acquisition is part of Buildforce’s expansion plans into the southeastern U.S. and during a time of increased demand for skilled construction talent. Buildforce will work to leverage the Ladder customer base of over 200 customers across six states, as well as its extensive electrician network of over 10,000 pre-screened electricians, which is the largest in the Southeast.

In addition to expanding to Georgia with the Ladder acquisition, Buildforce launched in Arizona in October and will expand into several additional high-construction volume states in 2025. Also in October, Buildforce launched an easier product to manage a flexible time approval process with its Activity Log and Comments for Time Entries update. Contractors in these regions will be introduced to a more “integrated, technology-driven approach to talent acquisition and workforce management that drives efficiency and delivers higher quality project outcomes,” according to Buildforce.

“There are two major problems plaguing the construction labor market,” Moody Heard, co-founder and CEO of Buildforce, says in a news release. “One, the project-based nature of construction work means tradesmen are constantly ‘working themselves out of a job’, meaning high employee turnover. And two, the industry is experiencing a secular decline in the supply of tradesmen relative to surging demand.”

Ladder Founder and CEO Alex Stewart will continue on in a leadership role as a senior executive with Buildforce.

"I am incredibly excited to join the Buildforce team to further its expansion into new markets, while staying true to its mission of helping people in the construction trades find more security and fulfillment,” Stewart said in a news release. “Buildforce is at the forefront of workforce management for the construction industry, and I look forward to working with Moody and the rest of the talented Buildforce team to drive the business towards continued growth.”

Buildforce was founded in 2019 to help close the gap in the construction labor market that affected skilled tradespeople and contractors. In 2021, the company raised a $4 million round backed by Houston-based Mercury.

Houston-based ROGII has acquired a new software to integrate into its platform. Photo via ROGII.com

Houston software provider makes strategic acquisition to expand platform

growing biz

An advanced geosteering, geoscience, and drilling software solutions company based in Houston has announced the acquisition of of a software platform.

ROGII plans to acquire TerraSLS's TLog Mudlog Editor software, which is used to generate vertical, and horizontal striplogs for use by geologists. The acquisition “will significantly enhance ROGII's product offerings by providing operators and clients with unprecedented real-time connectivity to mudlogging data,” according to ROGII. Mudlogging is a process that involves examining the cuttings of rock brought to the surface by the drilling.

“Our acquisition of TLog marks another step forward in our mission to deliver the most advanced, real-time data solutions to the oil and gas industry,” CEO of ROGII Igor B. Uvarov says in a news release. “The integration of TLog’s capabilities into our Solo Cloud platform will revolutionize the way operators and mudlogging service companies interact, making mudlogging a truly real-time process and driving greater efficiency and collaboration.”

One way it works is that ROGII will integrate TLog into its Solo Cloud platform, which will advance mudlogging data. This gathers it all into a real-time data exchange between mudlogging service companies and its operators.

The integration will allow operators to monitor mudlogging activities in real-time, which means a possible faster and more informed decision-making processes. The user will get immediate access to data, which can help enhance collaboration and improve efficiency. In addition, the mudlogging data will be safely stored on Solo Cloud for future analysis and data integration, which assists with maintaining integrity of the data.

“We look forward to investing in further development of TLog, increasing user-friendliness, expanding adoption worldwide, and making it the industry standard, being used by all mudlogging service companies,” Uvarov adds.

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This article originally ran on EnergyCapital.

With the acquisition of Amify, Cart.com has expanded its workforce and grown its suite of services. Photo courtesy of Cart.com

Houston e-commerce scale-up company acquires Amazon advertising partner

all aboard

A Houston tech company has tapped an Amazon partner in a strategic acquisition and is bringing the company's full team on board.

Cart.com acquired Ohio-based Amify, a company that provides optimization and advertising solutions. The terms of the deal were not disclosed but Cart.com will on board Amify’s entire employee base, including its founder Ethan McAfee, CEO Chris Mehrabi, and COO Christine McCambridge.

As chief delivery officer, Mehrabi will take the helm of Cart.com’s professional services business and McCambridge will lead Cart.com’s marketplace services team as vice president of marketplace services operations.

“I’m happy to welcome the entire Amify team to Cart.com and have industry veterans Chris Mehrabi and Christine McCambridge join our leadership team,” Cart.com Founder and CEO Omair Tariq says in a news release. “Amify has been widely recognized for their expertise and technology and we’re excited to leverage their experience to help our customers maximize their potential across channels.”

Cart.com's membership will have access to Amify's proprietary technology platform, including advertising, creative content, supply chain strategy, and analytics. The company, which was founded in 2011, currently supports over 50 global brands and manages approximately $1 billion in gross merchandise value. According to LinkedIn, Amify has over 50 employees.

“We could not be more excited to join Cart.com and leverage the company’s resources and scale to deliver value to both our customers and employees,” Mehrabi says. “I’m honored to step into the role of Chief Delivery Officer and contribute to Cart.com’s incredible growth story and innovative reputation.”

Founded in Houston in 2020, Cart.com provides comprehensive physical and digital infrastructure for online merchants. The company raised a $60 million series C and grown its customer base to over 6,000 users. After making several acquisitions, the company also operates 14 fulfillment centers nationwide.

Earlier this year, Tariq sat down with the Houston Innovators Podcast to share a bit about how the company is currently in scale-up mode.

The acquisition is valued at $34 million. Photo via Nauticus Robotics

Houston robotics company makes strategic acquisition in $34M deal

M&A Moves

A Houston company that harnesses the power of robotics hardware and programing for underwater use has made an acquisition.

Nauticus Robotics Inc. (NASDAQ: KITT) announced it has acquired 3D at Depth Inc., a Colorado-based company with a subsea light detection and range, LiDAR, technology for inspection and data services. The deal closed for approximately $34 million in stock, before certain purchase price adjustments and the assumption of debt, per the news release.

“The future of subsea services lies in autonomy, data gathering, and analytics,” Nicolaus Radford, Nauticus’ founder and CEO, says in the release. “LiDAR has long since been core to terrestrial autonomy and by adding 3D’s capabilities to the Nauticus Fleet, we enhance autonomous vehicles in the offshore market. This acquisition increases the value of Nauticus’ fleet services and positions the Company to capitalize on data acquisition and analytics for subsea operations.”

The acquisition expands Nauticus' capabilities for its autonomous underwater suite of technology for its customers. With the deal, Nauticus will assume 20 patents secured or pending by acquiring 3D, which generated $9.8 million in revenue last year and is slated to grow revenue by more than 20 percent in 2023, according to the release.

“In addition to the compelling strategic and financial benefits of this deal, the acquisition will add momentum to our commercial growth trajectory,” Radford continues. “By adding 3D’s technology, offshore inspection and data service, and experienced team, Nauticus expands our addressable market and accelerates our customer penetration in the offshore energy and renewables industries.”

Founded in 2009, 3D will operate as a division of Nauticus when the deal closes sometime before the end of the year. Nauticus will also assume approximately $4.1 million of debt in the transaction.

“The Nauticus Robotics and 3D at Depth combination creates a compelling solution for the subsea market and should help improve our products and services for all our clients,” Carl Embry, founder and CEO of 3D at Depth, says in the release. “We believe the integration of our unique subsea multi-dimensional data collection and processing with an emerging leader in subsea robotics creates a differentiated offering for customers seeking safer, cleaner, lower-cost subsea services.”

Nauticus, founded by Radford in 2014 as Houston Mechatronics, went public via a blank check company last year.

LevelField Financial is planning a nationwide expansion following a recent acquisition. Photo via Getty Images

Houston financial services firm announces acquisition, plans to grow

M&A radar

A Houston-based financial services company has made a recent strategic acquisition that gives it a new banking status.

LevelField Financial, which is creating a platform that combines traditional banking and digital asset products and services, announced this week that it is acquiring Burling Bank, an FDIC-insured, Illinois state-chartered bank. According to the company, once it receives regulatory approval, "LevelField will be the first full-service bank to offer fully compliant traditional banking and digital asset services."

The financial terms of the deal's transaction, which is expected to close later this year, were not disclosed.

The combined company will be able to provide traditional banking services, as well as LevelField's digital asset management. Burling Bank's senior management team will join LevelField's leadership, per a press release. They will focus on serving the bank's existing clients and growing the banking business nationwide.

"We conducted a broad review of banks in the U.S. to find the ideal institution with both an existing business and a management team who are aligned with our vision; we exceeded our expectations with Burling Bank. With this acquisition, LevelField will become a traditional bank, albeit one serving customers interested in the digital asset class," says Gene A. Grant II, CEO of LevelField Financial, in the release.

"We are thrilled to have the Burling executives join our leadership team, and together we intend to deliver fantastic customer service and well-designed products to customers who have an interest in accessing the digital asset class through a traditional bank," he continues.

Founded in 2018 by former banking executives, LevelField's leadership believes "the future of money is digital and that banks will continue to be a trusted provider of financial services," according to the website. This acquisition comes ahead of the company's plans to expand nationally.

"LevelField's strategic approach presented a tremendous opportunity for the bank to expand beyond our local footprint and serve customers with shared interests across the nation," says Michael J. Busch, Burling Bank president and CEO. "Together, we will continue to provide superior service and demonstrate that we truly understand the expanding and unique needs of our customers. Additionally, through the carefully developed suite of products we can address our customers' interests in digital assets and introduce them to LevelField's safe, simple, and secure platform."

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Screen-free hiking app developed in Houston earns 'Best of the Best' award

Peak Prize

An AI-powered, screen-free hiking system developed by Varshini Chouthri, a recent industrial design graduate from the University of Houston, has received Red Dot’s “Best of the Best” award, which recognizes the top innovative designs around the world.

Known as NOMAD, the system aims to help users stay in the moment while still utilizing technology. It will go on to compete for the Red Dot Luminary Award, the highest recognition given at the international event.

“NOMAD was truly a passion project, inspired by years of hiking growing up, where the outdoors became a place of peace, challenge, and reflection,” Chouthri said in a news release.

“I wanted to design something supporting those kinds of experiences by helping hikers feel more grounded and confident while staying present in nature. It was a way to give back to the moments that made me fall in love with the outdoors in the first place.”

The app “reimagines” outdoor exploration by removing the dependence on screens by using adaptive AI, contextual sensing, and an optional, wearable companion device. It employs a circular learning model that enables hikers to receive real-time guidance, safety alerts, personalized trip planning, hands-free navigation and more through a natural interface, according to UH.

NOMAD was developed at the Hines College of Architecture and Design’s PXD LAB. In 2023, Lunet, developed by David Edquilang at Hines College, received the “Best of the Best” recognition and went on to win the Red Dot Luminary Award.

The PXD LAB offers a platform to expand concepts into system-level designs that address real-world challenges, according to UH.

“Varshini’s work on NOMAD exemplifies the future-focused, systems-driven thinking we promote in the Advanced UX Design curriculum,” Min Kang, director of PXD LAB, added in the release. “NOMAD goes beyond being just a product; it reimagines how technology can enhance outdoor exploration without disrupting the experience.”

In addition to the Red Dot honors, NOMAD has already earned distinction from the FIT Sport Design Awards and was a finalist for the International Design Excellence Awards (IDEA) presented by the Industrial Designers Society of America.

NASA signs on latest tenant for new Exploration Park campus, now underway

space hub

Exploration Park, the 240-acre research and commercial institute at NASA's Johnson Space Center, is ready for launch.

Facilities at the property have broken ground, according to a recent episode of NASA's Houston We Have a Podcast, with a completion date targeted for Q4 2026.

The research park has also added Houston-based KBR to its list of tenants. According to a news release from the Greater Houston Partnership, the human spaceflight and aerospace services company will operate a 45,000-square-foot food innovation lab at Exploration Park. KBR will use the facility to focus on customized food systems, packaging and nutrition for the low Earth orbit economy.

“Exploration Park is designed for companies in the space ecosystem, such as KBR, to develop, produce, and deploy innovative new technologies that support space exploration and commerce,” Simon Shewmaker, head of development at ACMI Properties, the developer behind Exploration Park, said in the GHP release. “This project is moving expeditiously, and we’re thrilled to sign such an innovative partner in KBR, reflecting our shared commitment to building the essential infrastructure of tomorrow for the next generation of space innovators and explorers.”

NASA introduced the concept of a collaborative hub for academic, commercial and international partners focused on spaceflight in 2023. It signed leases with the American Center for Manufacturing and Innovation and the Texas A&M University System for the previously unused space at JSC last year.

“For more than 60 years, NASA Johnson has been the hub of human space exploration,” Vanessa Wyche, NASA Johnson Space Center Director, said in a statement at the time. “This Space Systems Campus will be a significant component within our objectives for a robust and durable space economy that will benefit not only the nation’s efforts to explore the Moon, Mars and the asteroids, but all of humanity as the benefits of space exploration research roll home to Earth.”

Texas A&M is developing the $200 million Texas A&M Space Institute, funded by the Texas Space Commission, at the center of the park. The facility broke ground last year and will focus on academic, government and commercial collaboration, as well as workforce training programs. ACMI is developing the facilities at Exploration Park.

Once completed, Exploration Park is expected to feature at least 20 build-to-suit facilities over at least 1.5 million square feet. It will offer research and development space, laboratories, clean rooms, office space and light manufacturing capabilities for the aerospace, robotics, life support systems, advanced manufacturing and artificial intelligence industries.

According to the GHP, Griffin Partners has also been selected to serve as the co-developer of Exploration Park. Gensler is leading the design and Walter P Moore is overseeing civil engineering.

Houston cleantech co. plans first-of-its-kind sustainable aviation fuel facility

coming soon

Houston-based Syzygy Plasmonics announced plans to develop what it calls the world's first electrified facility to convert biogas into sustainable aviation fuel (SAF).

The facility, known as NovaSAF 1, will be located in Durazno, Uruguay. It is expected to produce over 350,000 gallons of SAF annually, which would be considered “a breakthrough in cost-effective, scalable clean fuel,” according to the company.

"This is more than just a SAF plant; it's a new model for biogas economics," Trevor Best, CEO of Syzygy Plasmonics, said in a news release. "We're unlocking a global asset class of underutilized biogas sites and turning them into high-value clean fuel hubs without pipelines, costly gas separation, or subsidy dependence.”

The project is backed by long-term feedstock and site agreements with one of Uruguay's largest dairy and agri-energy operations, Estancias del Lago, while the permitting and equipment sourcing are ongoing alongside front-end engineering work led by Kent.

Syzygy says the project will result in a 50 percent higher SAF yield than conventional thermal biogas reforming pathways and will utilize both methane and CO2 naturally found in biogas as feedstocks, eliminating the need for expensive CO2 separation technologies and infrastructure. Additionally, the modular facility will be designed for easy replication in biogas-rich regions.

The new facility is expected to begin commercial operations in Q1 2027 and produce SAF with at least an 80 percent reduction in carbon intensity compared to Jet A fuel. The company says that once fully commercialized the facility will produce SAF at Jet-A fuel cost parity.

“We believe NovaSAF represents one of the few viable pathways to producing SAF at jet parity and successfully decarbonizing air travel,” Best added in the release.

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