Houston startup launches innovative chat tool on its mission to democratize AI

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ThirdAI's new PocketLLM app is free to use and completely secure. Photo via Getty Images

Artificial intelligence has a big potential to disrupt the technology industry, and one Houston company that was founded by a computer science professor at Rice University, is fast on its way to help lead that future now in a convenient and affordable way.

Founded by Anshumali Shrivastava and Tharun Medini, a recent Ph.D. who graduated under Shrivastava from Rice's Department of Electrical and Computer Engineering, ThirdAI is building AI deep learning tools that aim to be sustainable and scalable to fit the changing needs of the industry. The company is on a mission to democratize AI, Shrivastava tells InnovationMap.

Shrivastava likes to use the word efficiently when describing what makes ThirdAI different, and how its programs can teach AI via multiple avenues to be what he refers to as “1,000 times more efficient.”

“The carbon footprint of these models are off the charts, and so expensive,” Shrivastava. “We believe this could be made efficient. … We use the same ideas that were developed, but we do it on a massive scale.”

ThirdAI's latest tool is a multilingual ChatGPT-like AI training tool PocketLLM app. Announced earlier this month, the tool is free. According to the company, users have access to a personalized chatbot that understands what the user is searching within documents, and can be fine-tuned to help elaborate your thoughts through a neural search.

ThirdAI's PocketLLM app is free to use. Image courtesy of ThirdAI

The app is private and secure and runs on deep-learning algorithms according to Vinod Iyengar, head of product at ThirdAI, and no one — not even ThirdAI — has access to the documents except the user.

“Tools exist to help people search text files, but that requires sharing your data with third parties,” says Iyengar in a news release. “Our solution is private and secure, powered by deep learning algorithms. And it returns results lightning fast.”

The process includes the user installing the app, uploading any text document files, and clicking "train." Minutes later, you have an AI tool that can process the information in those documents.

“The neural search encourages you to elaborate on your thoughts with details in the discover window and see the difference in results,” says Shrivastava in the release. “It can also be fine-tuned to your tastes by selecting the relevant option and hitting the update button to re-train."

In September of 2021, ThirdAI — pronounced "third eye" — raised $6 million in seed funding. The round was invested in by three California-based VCs — Neotribe Ventures and Cervin Ventures, which co-led the round with support from Firebolt Ventures. The technology ThirdAI is working with comes from 10 years of deep learning research and innovation. The company's technology has the potential to make computing 15-times faster, the company reports.

Anshumali Shrivastava is an associate professor of computer science at Rice University. Photo via rice.edu

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This Houston startup has a game-changing technology for deep learning. Photo via Getty Images

Houston artificial intelligence startup raises $6M in seed funding

money moves

A computer science professor at Rice University has raised seed funding last month in order to grow his company that's focused on democratizing artificial intelligence tools.

ThirdAI, founded by Anshumali Shrivastava in April, raised $6 million in a seed funding round from three California-based VCs — Neotribe Ventures and Cervin Ventures, which co-led the round with support from Firebolt Ventures.

Shrivastava, CEO, co-founded the company with Tharun Medini, a recent Ph.D. who graduated under Shrivastava from Rice's Department of Electrical and Computer Engineering. Medini serves as the CTO of ThirdAI — pronounced "third eye." The startup is building the next generation of scalable and sustainable AI tools and deep learning systems.

"We are democratizing artificial intelligence through software innovations," says Shrivastava in a news release from Rice. "Our innovation would not only benefit current AI training by shifting to lower-cost CPUs, but it should also allow the 'unlocking' of AI training workloads on GPUs that were not previously feasible."

The technology ThirdAI is working with comes from 10 years of deep learning research and innovation. The company's technology has the potential to make computing 15-times faster.

"ThirdAI has developed a breakthrough approach to train deep learning models with a large number of parameters that run efficiently on general purpose CPUs. This technology has the potential to result in a gigantic leap forward in the accuracy of deep learning models," per and announcement from Cervin Ventures. "Our investment in ThirdAI was a no-brainer and we are fortunate to have had the opportunity to invest."

Anshumali Shrivastava is an associate professor of computer science at Rice University. Photo via rice.edu

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9 can't-miss Houston business and innovation events for April

where to be

Two new conferences will launch while another longtime business competition celebrates its 25th anniversary this month in Houston. Plus, there are networking opportunities, family tech events and more.

Here are the Houston business and innovation events you can't miss in April and how to register. Please note: this article might be updated to add more events.

​Ion Block Party: Art Crawl

Network and socialize with other tech enthusiasts and business-minded individuals while taking in the new gallery at Community Artists’ Collective and experiencing the immersive dome at Omnispace360. See work by Joel Zika, who will showcase his digital sculptures through augmented reality screens, and other public art around the Ion while also enjoying food and drink.

This event is Thursday, April 3, from 4-7 p.m. at the Ion. Click here to register.

​CLA Presents: Raising Capital over Happy Hour

Gain a better understanding of the capital-raising process and various funding opportunities at this educational happy hour. Keith Davidson, the market leader for CLA in Dallas and former CFO of ICS, will present.

This event is Thursday, April 10, from 4-6 p.m. at The Cannon. Click here to register.

Rice Business Plan Competition 

The Rice Alliance for Technology and Entrepreneurship will host the 25th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event is April 10-12. Stream the Elevator Pitch Competition and Final Round here.

RSVF Annual Conference

The Rice Student Venture Fund will host its first-ever Annual Conference to celebrate the university's entrepreneurial spirit and the rising generation of student-led innovation. The conference will include live startup demos, an RSVF fund update, a keynote fireside chat, a builder-investor panel and networking. RSVF welcomes students, alumni, investors, faculty and staff, and innovators and community members of the broader tech scene.

This event is Monday, April 14, from 4-8 p.m. at the Ion. Click here to register.

​TEX-E Conference

TEX-E will host its inaugural conference this month under the theme "Energy & Entrepreneurship: Navigating the Future of Climate Tech." The half-day conference will feature a keynote from Artemis Energy Partners CEO Bobby Tudor as well as panels with other energy and tech leaders from NRG, Microsoft, GE Vernova and TEB Tech.

This event is Tuesday, April 15, from 1-4:30 p.m. at the Ion. Click here to register.

Houston Methodist Leadership Speaker Series 

Hear from Dr. Jonathan Rogg, Chief Quality Officer and Vice President of Operations at Houston Methodist Hospital and a a practicing emergency medicine physician, at the latest Houston Methodist Leadership Speaker Series. Rogg will present "Leadership from the Bedside to the Boardroom."

This event is on Wednesday, April 23, from 4:45-6 p.m. at the Ion. Click here to register.

Ion Family STEAM Day– Let's Build a Tripwire Alarm

STEAM on Demand will host a hands-on, family-friendly engineering lesson for young ones on the Ion Forum Stairs. Kids will learn to create and test their own working alarm system. The event is geared toward those ages 7 to 14.

This event is Sunday, April 26, from 10 a.m. to noon at the Ion. Click here to register.

 Greentown Houston Fourth Anniversary Transition On Tap

Climatetech incubator Greentown Labs will celebrate its fourth anniversary with a special edition of its signature networking event, Transition On Tap. Entrepreneurs, investors, students, and friends of climatetech are invited to attend.

This event is Tuesday, April 29, from 5:30-7:30 p.m. at Greentown Labs. Click here to register.

Integrate Space Technology Into Your Small Biz

The SBA Houston District Office and the UH Technology Bridge will host a collaborative event designed to help small businesses leverage space technology for prototype development. Attendees will also hear from industry experts on resources and gain access free technical engineering assistance to help accelerate their businesses.

This event is Wednesday, April 30, from 9:30-11:30 a.m. at UH Technology Bridge Innovation Center. Click here to reserve your spot.

Texas university's innovative 'WaterHub' will dramatically reduce usage by 40%

Sustainable Move

A major advancement in sustainability is coming to one Texas university. A new UT WaterHub at the University of Texas at Austin will be the largest facility of its kind in the U.S. and will transform how the university manages its water resources.

It's designed to work with natural processes instead of against them for water savings of an estimated 40 percent. It's slated for completion in late 2027.

The university has had an active water recovery program since the 1980s. Still, water is becoming an increasing concern in Austin. According to Texas Living Waters, a coalition of conservation groups, Texas loses enough water annually to fill Lady Bird Lake roughly 89 times over.

As Austin continues to expand and face water shortages, the region's water supply faces increased pressure. The UT WaterHub plans to address this challenge by recycling water for campus energy operations, helping preserve water resources for both the university and local communities.

The 9,600-square-foot water treatment facility will use an innovative filtration approach. To reduce reliance on expensive machinery and chemicals, the system uses plants to naturally filter water and gravity to pull it in the direction it needs to go. Used water will be gathered from a new collection point near the Darrell K Royal Texas Memorial Stadium and transported to the WaterHub, located in the heart of the engineering district. The facility's design includes a greenhouse viewable to the public, serving as an interactive learning space.

Beyond water conservation, the facility is designed to protect the university against extreme weather events like winter storms. This new initiative will create a reliable backup water supply while decreasing university water usage, and will even reduce wastewater sent to the city by up to 70 percent.

H2O Innovation, UT’s collaborator in this project, specializes in water solutions, helping organizations manage their water efficiently.

"By combining cutting-edge technology with our innovative financing approach, we’re making it easier for organizations to adopt sustainable water practices that benefit both their bottom line and the environment, paving a step forward in water positivity,” said H2O Innovation president and CEO Frédéric Dugré in a press release.

The university expects significant cost savings with this project, since it won't have to spend as much on buying water from the city or paying fees to dispose of used water. Over the next several years, this could add up to millions of dollars.

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A version of this story originally appeared on our sister site, CultureMap Austin.

Texas female-founded companies raised more than $1 billion in 2024, VC data shows

by the numbers

Female-founded companies in Dallas-Fort Worth may rack up more funding deals and more money than those in Houston. However, Bayou City beats DFW in one key category — but just barely.

Data from PitchBook shows that in the past 16 years, female-founded companies in DFW collected $2.7 billion across 488 deals. By comparison, female-founded companies in the Houston area picked up $1.9 billion in VC through 343 deals.

Yet if you do a little math, you find that Houston ekes out an edge over DFW in per-deal values. During the period covered by the PitchBook data, the value of each of the DFW deals averaged $5.53 million. But at $5,54 million, Houston was just $6,572 ahead of DFW for average deal value.

Not surprisingly, the Austin area clobbered Houston and DFW.

During the period covered by the PitchBook data, female-founded companies in the Austin area hauled in $7.5 billion across 1,114 deals. The average value of an Austin deal: more than $6.7 million.

Historically, funding for female-established companies has lagged behind funding for male-established companies. In 2024, female-founded companies accounted for about one-fourth of all VC deals in the U.S., according to PitchBook.

PitchBook noted that in 2024, female-founded companies raised $38.8 billion, up 27 percent from the previous year, but deal count dropped 13.1 percent, meaning more VC for fewer startups. In Texas, female-founded companies brought in $1.3 billion last year via 151 deals. The total raised is the same as 2023, when Texas female founders got $1.3 billion in capital across 190 deals.

“The VC industry is still trying to find solid footing after its peak in 2021. While some progress was made for female founders in 2024, particularly in exit activity, female founders and investors still face an uphill climb,” says Annemarie Donegan, senior research analyst at PitchBook.

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