10 Houston startups start 2023 with fresh venture capital funding

money moves

Here are the 10 Houston startups that closed venture capital investment in the fourth quarter of last year. Photo via Getty Images

Houston startups saw a busy last quarter when it came to funding in 2022. From seed to series C, 10 Houston startups wrapped up the year with investment round closings.

In case you missed some of these headlines, InnovationMap has rounded up these 10 deals based on previous reporting. Scroll through to see which Houston startups are catching the eyes — and cashing the checks — of investors.

Houston-based virtual reality startup raises $3.2M in first outside capital round

VR training startup, HTX Labs, has raised funding from an outside investor for the first time. Courtesy of HTX Labs

HTX Labs, a Houston-based company that designs extended reality training for military and business purposes, announced last week that it has raised its first outside capital.

The company has received a $3.2 million investment from Cypress Growth Capital. Founded in 2017, HTX Labs — developer of the EMPACT Immersive Learning Platform — has been granted funding from the Department of Defense as well as grown its client base of commercial Enterprises. The platform uses virtual and extended reality that "enables organizations to rapidly create, deploy, measure, and sustain cost-effective, secure, and centralized immersive training programs, all within engaging, fully interactive virtual environments," per a news release.

“We have been looking to secure outside capital to accelerate the growth of our EMPACT platform and customer base but we hadn’t found the right partner who provided an investment vehicle that matched our needs,“ says HTX Labs CEO Scott Schneider in the release. “We found everything we were looking for in Cypress Growth Capital. They have a non-dilutive funding model that aligns with our capital expectations and have the level of experience that really makes this smart money." Read more.

Houston-based travel tech startup raises nearly $1M to continue expansion

A Houston company has raised additional funding as it grows its encrypted lodging booking platform. Photo via Gustavo Fring/Pexels

A travel booking technology company that's looking to alleviate some of the stresses of finding and making hotel reservations has raised additional seed funding.

Houston-based Pinktada has raised additional funding to the tune of $975,000. Ireland-based Selenean Capital contributed to the seed funding round, joining the company's previous investor True Global Ventures 4 Plus, which has invested $2 million to date. According to Crunchbase data, the latest investment brings the company's total to $3.9 million.

“Selenean Capital’s approach to partnership is identifying real world future needs and then working relentlessly to achieve those goals," says Davin Browne, Selenean’s CEO, in a news release. "Pinktada encapsulates this perfectly with a transformational approach to the hotel booking model built around a brilliant team. We look forward to the partnership and journey with them." Read more.

Houston microgrid tech company announces $150 investment

Houston-based VoltaGrid provides small-scale, self-contained microgrids that can operate independently of major power grids or in tandem with other microgrids. Photo via voltagrid.com

VoltaGrid, a Bellaire-based startup that specializes in distributed power generation via microgrids, has hauled in $150 million in equity funding.

Founded in 2020, VoltaGrid provides small-scale, self-contained microgrids that can operate independently of major power grids or in tandem with other microgrids. VoltaGrid’s product consists of natural gas engines, portable energy storage, natural gas processing and grid power connectivity.

Investors in the $150 million round include the Canada Pension Plan Investment Board (CPP Investments), Longbow Capital, Walter Ventures, and Pilot Company (operator of more than 800 retail and fueling locations in the U.S. and Canada). The $150 million round comes less than a year after VoltaGrid announced a $100 million round featuring the same investors. Read more.

Houston SaaS company raises $15M series B, announces latest release

Houston-based GoCo.io has raised fresh funding and launched the latest version of its platform. Courtesy of GoCo

A Houston startup that is optimizing human resource operations for small businesses has raised fresh funding from an Austin-based venture capital investor.

GoCo.io raised $15 million in September in a funding round led by ATX Venture Partners. Founded in 2015, the company has raised $27.5 million to date, including its $7 million series A in 2019.

The fresh funding will be used to continue expanding on the company's software services operations and upgrades to its product, which is is modernizing HR, benefits, and payroll.

“We believe that GoCo is the company best positioned to provide HR departments at SMBs with the most flexible employee management software,” says Chris Shonk, general partner at ATX Venture Partners, in a news release. “In a crowded marketplace, GoCo clearly rises to the top with its ease-of-use, flexibility and unparalleled customization. Read more.

Houston tech startup raises $3.5M following industry expansion

Rivalry Tech's co-founders — Marshall Law and Aaron Knape — share news of the company's latest round of investment. Photo courtesy of Rivalry Tech

A Houston-based company that optimizes mobile ordering for large venues has closed its latest round of funding.

Rivalry Tech, originally founded as sEATz and tackling mobile ordering in sports venues, has raised $3.5 million following expanding with a new product, myEATz, that targets the health care, leisure, and business industries. The round was led by Houston-based Sightcast, with participation from Houston-based Softeq Venture Studio, Rice University’s Valhalla Investment Group, and more.

“Sightcast Capital Partners looks to invest in strong, founder-led companies that bring a forward-thinking solution to everyday problems," says Neal Simpson, managing partner of Sightcast Capital Partners, in a news release. "In Rivalry Tech, we saw a team that recognized an opportunity to streamline the way in which food and beverage transactions occur in the healthcare, leisure, sports, and entertainment markets. Their two-sided approach of using technology as a tool to increase vendor profitability and also positively influence consumer experience is what immediately attracted us to this opportunity." Read more.

Houston unicorn chemicals company raises $200M series D

Solugen closed its series D funding round at $200 million. Photo via Getty Images

Houston-based Solugen has announced its latest round of investment to the tune of $200 million. The company, which reached unicorn status after its $357 million series C round last year, uses its patented Bioforge processes to produce "green" chemicals from bio-based feedstocks.

"Solugen is reimagining the chemistry of everyday life with enzymes found in nature. We make chemicals better, faster, cheaper, and without fossil fuels from right here in Houston, Texas. Whether you care about the climate, local competitiveness, or just plain old profits, we have good news: it's working," the company states in its news release. Read more.

Houston company closes $76M series C round to fuel its mission of reducing carbon emissions

Syzygy Plasmonics has raised a series C round of funding. Photo courtesy of Syzygy

A Houston-based company that is electrifying chemical manufacturing has closed its largest round of funding to date.

Syzygy Plasmonics closed a $76 million series C financing round led by New York-based Carbon Direct Capital. The round included participation from Aramco Ventures, Chevron Technology Ventures, LOTTE CHEMICAL, and Toyota Ventures. The company's existing investors joining the round included EVOK Innovations, The Engine, Equinor Ventures, Goose Capital, Horizons Ventures, Pan American Energy, and Sumitomo Corporation of Americas. According to a news release, Carbon Direct Capital will join Syzygy's board and serve as the series C director.

"We were very attracted to the multiple use cases for the Syzygy reactor and the lifetime-value of each Syzygy customer," says Jonathan Goldberg, Carbon Direct Capital's CEO, in the release. "Emissions from hydrogen production total more than 900 million metric tons of carbon dioxide per year. Syzygy's photocatalysis technology is a key solution to decarbonize hydrogen production as well as other critical industries." Read more.

Houston SaaS startup raises $6M seed

Houston-based SynMax has closed its first round of funding. Photo via Getty Images

A Houston-based satellite data analytics company is celebrating an oversubscribed round of recent funding.

SynMax announced this week that it closed its seed round at $6 million with an oversubscription of $2 million. The startup is providing geospatial intelligence software as a service to customers within the energy and maritime industries. The technology combines earth observation imagery and key data sources for predictive analytics and artificial intelligence.

The company reports that all of the investment came from SynMax customers. The round was led by Houston-based Skylar Capital, an investment management firm focused on the natural gas market. Read more.

Houston health tech startup secures $27M in financing

A Houston startup that created a remote monitoring and care platform has raised millions in financing. Image via michealthcare.com

A virtual health care and analytics provider startup has closed its latest round of funding for a total of $27 million in financing.

Medical Informatics Corp. closed a $17 million series B co-led by Maryland-based Catalio Capital Management and California-based Intel Capital. The financing also includes an additional $10 million in debt led by Catalio through Catalio’s structured equity strategy, according to a news release.

“We are excited to have had this round co-led by Catalio and Intel Capital," says Emma Fauss, CEO and co-founder of MIC, in the release. "Catalio brings significant financial and technical resources, while Intel Capital possesses strong operational and industry experience, and we look forward to continuing to leverage both firms’ expertise as we continue to scale.” Read more.

Houston sportstech platform raises $1.3M seed round

This Houston startup has fresh funding to build out its data intelligence platform. Photo via aim7.com

How many times have you forced yourself to do an arduous workout when you just weren’t feeling it? Despite what some trainers will tell you, you probably didn’t feel any better after. Sports scientist Dr. Erik Korem could have told you that, but more importantly, so could his creation, AIM7.

Marketed as “the fastest, easiest way to change your habits and improve your health,” Korem just raised a $1.3 million seed round that will bring his ambitious app to consumers in its beta form early next month.

The data intelligence platform would know that on a day that you’re stressed, that Peloton tabata ride might not be in your best interest. How? “The data from your Apple Watch or your Fitbit is just data. ‘I walked 7000 steps or I slept 8 hours,’” explains Korem. “We are the recommendation engine that makes this usable for you.” Read more.

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This week's roundup of Houston innovators includes Luis Silva of AT&T, Devin Dunn of TMC Innovation, and Eric Anderson of SynMax. Photos courtesy

3 Houston innovators to know this week

WHO'S WHO

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from health tech to data analytics — recently making headlines in Houston innovation.


Luis Silva, vice president and general manager at AT&T

Not everyone is as holly jolly amid the holidays. Image courtesy

In a guest column, Luis Silva, Houston-based vice president and general manager at AT&T, cautions that the holiday season is prime time for hackers and cyber security threats.

"The good news is you can protect yourself from scams and fraud," he writes. "Just remember that cybercriminals don’t discriminate, they can prey on anyone."

In his article, Silva shares the top five ways to guard against cyberthreats. Read more.

Devin Dunn, head of TMC's HealthTech Accelerator

Devin Dunn leads TMC's HealthTech Accelerator, which is getting ready to welcome its next cohort in January. Photo via TMC.edu

Earlier this year, Devin Dunn joined TMC Innovation as head of TMC's HealthTech Accelerator, a career move that represented Dunn's move to a different side of the startup world. As an early employee at London-based Huma, Dunn was instrumental in growing the health tech company from its early stages to international market expansion.

"I really like working with the dreamers and helping them work backwards to (figure out) what are the milestones we can work toward to make the grand vision come true in the future," Dunn says on the Houston Innovators Podcast. "The opportunity to work with different founders on that same journey that we had been through was really appealing." Read more.

Eric Anderson, CTO of SynMax

Houston-based SynMax has closed its first round of funding. Photo courtesy

A Houston-based satellite data analytics company is celebrating an oversubscribed round of recent funding. SynMax announced this week that it closed its seed round at $6 million with an oversubscription of $2 million. The startup is providing geospatial intelligence software as a service to customers within the energy and maritime industries. The technology combines earth observation imagery and key data sources for predictive analytics and artificial intelligence.

Founded in 2021, SynMax is led by CTO Eric Anderson, who previously worked as an analyst at Skylar Capital, according to LinkedIn. Headquartered in Houston, SynMax is hiring employees from all over. Read more.

Houston-based SynMax has closed its first round of funding. Photo via Getty Images

Houston SaaS startup raises $6M seed

money moves

A Houston-based satellite data analytics company is celebrating an oversubscribed round of recent funding.

SynMax announced this week that it closed its seed round at $6 million with an oversubscription of $2 million. The startup is providing geospatial intelligence software as a service to customers within the energy and maritime industries. The technology combines earth observation imagery and key data sources for predictive analytics and artificial intelligence.

The company reports that all of the investment came from SynMax customers. The round was led by Houston-based Skylar Capital, an investment management firm focused on the natural gas market.

“I am very excited about SynMax and the problems they are solving," says Bill Perkins, founder and managing partner of Skylar Capital, in a news release. "Their dedicated and skilled team has taken a unique approach and made the products that SynMax create 'essential intelligence' in both the energy and maritime awareness domains.”

According to the release, the fresh funding will go toward expanding SynMax's team "to continue building its suite of energy products and advance development of its maritime domain awareness product."

Launched in May, the SynMax Energy product suite uses SynMax’s AI to provide the accurate and timely energy intelligence. SynMax Maritime is launching Theia — a maritime domain awareness platform — in early 2023.

Founded in 2021, SynMax is led by CTO Eric Anderson, who previously worked as an analyst at Skylar Capital, according to LinkedIn. Headquartered in Houston, SynMax is hiring employees from all over.

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Houston Innovation Awards honor Don Kendall Jr. with posthumous​ Trailblazer Legacy Award

lasting legacy

Every year, the Houston Innovation Awards honor one Houstonian with the Trailblazer Award, whose impact is felt throughout the city's innovation and business ecosystem.

This year, the Trailblazer Legacy Award will be given posthumously to Don Kendall Jr., who died in September while on a trip to the Republic of the Congo with the Jane Goodall Institute, one of the many organizations he was deeply involved with.

Kendall's obituary puts it simply: "Don’s truest passions were conservation and his family." Many saw those passions play out in his career, particularly in the role he played in shaping Houston's clean energy sector.

Kendall served as general partner of New Climate Ventures, a Houston-based early-stage venture capital firm that invests in next-gen energy, materials and fuel technologies and startups. The firm's portfolio includes Houston-based clean energy companies like Solidec, Syzygy Plasmonics and Rheom Materials.

Kendall was also founding managing director and CEO of Kenmont Capital LP. He ran a $500 million distressed debt and credit-based hedge fund focused on the energy, power and transportation sectors and one of the top-performing private equity funds under the Kenmont umbrella.

He served on the board of Talos Energy, American Midstream Partners, Syzygy Plasmonics, Tangent Energy, Stream Energy and others. Notably, he served as Chair of the Special Committee of the SolarCity board during its acquisition by Tesla in 2016. According to his obituary, Kendall negotiated with "Elon Musk in the middle of the night on a rickety pier in Indonesia after eluding a poisonous snake."

Outside of the clean energy space, Kendall also served on the boards of the Jane Goodall Institute, Earthwatch International and Ecological Defense Group. He also served as vice chair of the Houston Zoo Inc. and chair of its Conservation Committee.

Kendall was selected by our esteemed panel of judges to receive the 2026 Trailblazer Legacy Award. The panel includes carbon removal entrepreneur and CEO of Houston-based Mars Materials Aaron Fitzgerald.

Fitzgerald shares the profound impact Kendall had on his career and those of many others.

"Honoring Don with the Trailblazer Legacy Award is a fitting tribute to a leader whose impact spanned civic work with the Houston Zoo, wildlife conservation, and the growth of our startup ecosystem," Fitzgerald says. "He paired a keen eye for potential with the relentless drive to unlock it. For Mars Materials, his early backing carried us through a critical valley when we needed belief the most, and his presence as a personal mentor is profoundly missed."

Don was an avid traveler, cyclist and collector. He is survived by his wife of 50 years, Diane S. Kendall. A celebration of life will be held early in 2027.

2 Houston suburbs rank among 5 best cities to retire, says U.S. News

Slowing Down

Houston and nine of its suburbs are earning new acclaim on U.S. News and World Report's just-released list of the best U.S. cities for retirees in 2027. Two northern suburbs, The Woodlands and Spring, are resting easy among the top five nationwide.

The 2027 Best Places to Retire list evaluated over 850 U.S. cities based on six livability metrics that best serve American retirees: quality of life, affordability, health care, retiree taxes, job market, and population and migration. The top 250 finalist cities were then ranked nationally and by city size.

Midland, Michigan topped the list for the second consecutive year and is followed by Homosassa Springs, Florida (No. 2) and Weirton, West Virginia (No. 3).

The Woodlands and Spring respectively maintained their standings as the No. 4 and No. 5 best cities for retirees for the second year in a row. The Woodlands topped the separate list of the best midsized U.S. cities to retire, while Spring landed 5th among the smallest U.S. cities.

Houston proper was declared the No. 2 best big city for retirees, and it ranked 89th overall. Elsewhere in the metro, Pearland (No. 13) and Conroe (No. 14) ranked just outside the overall top 10 but ranked 4th and 5th among the best midsized cities for retirees.

U.S. News said affordability is the "most considered factor" when it comes to picking the best place to live a low-stress retirement life, and that's what Houston and its neighbors deliver. Affordable cities also give retirees "a sense of security and comfort as they live out their golden years," according to Megan Wood, U.S. News assistant managing editor of home services and real estate.

"It’s no secret that affordability is top of mind for Americans this year, which is why U.S. News updated its weighting criteria to better align with what retirees prioritize," Wood said. "The 2027 rankings reflect key metrics used to highlight the places that
best suit retiree needs."

Sugar Land was declared the 10th best place to live in the U.S. in a separate U.S. News report earlier this year, but it doesn't quite meet the expectations for retirees. This particular suburb ranked as the 45th best overall city to retire, but it fared better in the city size ranking and landed 13th among the biggest U.S. cities.

Pasadena also surprised as the 85th best place to retire nationwide in this report, despite being hailed as the No. 3 best city to retire in Texas by RetirementLiving.com.

Three more Houston neighbors ranked among the top 100 overall best places to retire for 2027: League City (No. 25), Missouri City (No. 49), and Baytown (No. 88).

These are the top 10 best U.S. cities to retire for 2027:

  • No. 1 – Midland, Michigan
  • No. 2 – Homosassa Springs, Florida
  • No. 3 – Weirton, West Virginia
  • No. 4 – The Woodlands
  • No. 5 – Spring, Texas
  • No. 6 – Rio Rancho, New Mexico
  • No. 7 – Altoona, Pennsylvania
  • No. 8 – Paducah, Kentucky
  • No. 9 – Lynchburg, Virginia
  • No. 10 – Palm Coast, Florida
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This article first appeared on CultureMap.com.

Air taxi network to land in 'Texas triangle' of Houston, Austin, DFW next year

taking flight

San Jose, California-based aerospace company Archer Aviation is bringing its air-taxi system to the “Texas triangle” of Houston, Austin and Dallas-Fort Worth.

Currently, the planned zero-emission electric air taxi networks will use Archer’s Midnight air taxi to “turn 60- to 90-minute drives to major airports, business districts and major destinations into 10- to 20-minute flights,” the company said in a news release. Archer plans to begin flights in the Texas triangle next year.

The Midnight air taxi is an all-electric vertical takeoff and landing (eVTOL) aircraft. It can carry four passengers and a pilot and is designed for consecutive flights of about 20 miles.

Archer cites the Texas triangle as one of the busiest and fastest-growing “megaregions” in the country due to its proximity to coastal regions, major airports, and a number of business districts.

Archer Chief Commercial Officer Nikhil Goel described the air taxi experience to CW Houston as “100 times quieter than a helicopter for the price of an Uber Black.” He added that the air taxis are a combination of a helicopter, a small airplane and a drone.

In Houston, Archer’s air taxi network will aim to connect George Bush Intercontinental, William P. Hobby and Sugar Land Regional Airport with downtown destinations, including the Thompson Hotel helipad, and Galveston.

In Austin, it plans to link the city's Austin-Bergstrom International Airport and Austin Executive Airport with the F1 Circuit Helipad at the Circuit of the Americas. Archer debuted its Midnight aircraft at the F1 Prix in the Fan Zone and the F1 Paddock at Austin’s Circuit of the Americas. The Dallas-Fort Worth network is slated to include Dallas-Fort Worth International Airport, Dallas Love Field, Addison Airport, Arlington Municipal Airport, Fort Worth Meacham International Airport and Perot Field Fort Worth Alliance Airport, plus major business hubs like Frisco Station.

“Texas is setting the bar for America’s leadership in the next generation of aviation,” Adam Goldstein, founder and CEO of Archer Aviation, said in the release. “Our planned networks will make the benefits of electric air taxis real for Texans — trading hours in traffic for minutes in the air, while connecting the biggest airports, business districts and sporting hubs in ways that America’s largest megaregion needs to grow.”

Archer is working with state and local partners to develop charging infrastructure and plans to pursue Texas operations through the White House’s eVTOL Integration Pilot Program, according to the release. It recently completed its "No Roads" flight tour, which included multiple flights over the San Francisco Bay, and flew to seven cities over three days.

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