3 Houston innovators to know this week

Who's who

Three Houston innovators to know this week include Kim Raath of Topl, Gaurav Khandelwal of ChaiOne, and Nobel Prize winner Jim Allison. Courtesy photos

This week's Houston innovators to know include a blockchain expert with insight on how COVID-19 is affecting supply chain, a Houston tech leader with a logistics software solution, and a streamable story on cancer treatment innovation.

Kim Raath, CEO and co-founder of Topl

Photo courtesy of Topl

Amid the negativity the COVID-19 news, one Houston startup had an exciting announcement. It reworked its C-suite and Kim Raath, who just finished Ph.D in statistics and a Master's in economics at Rice University, has transitioned into the CEO role. Raath and her co-founders, James Aman and Chris Georgen, recently convened to re-envision the company's next phase.

"It was definitely a cool experience for us as founders to go through together, but I'm glad that all three of us came out of this excited about what we're doing moving forward," says Raath. Read more.

Gaurav Khandelwal, CEO and founder of ChaiOne

Photo courtesy of ChaiOne

Houston tech company ChaiOne recently announced the soft launch of Velostics, the "slack" for logistics that solve wait times and cash flow challenges in the supply chain and logistics industry. The digital logistics platform is set to aid the struggling supply chain as surging demands stretch suppliers, offering their platform free for 60 days.

"At ChaiOne we have a history of helping Houstonians whenever disaster strikes," says CEO and founder, Gaurav Khandelwal. "We created a disaster connect app during Hurricane Harvey for free that connected people with the resources they need. Velostics by pure happenstance happened to be ready for situations like [the coronavirus] when there's a lot of parties that need to collaborate." Read more.

James Allison, chair of Immunology and executive director of the Immunotherapy Platform at MD Anderson Cancer Center

Jim Allison MD Anderson

Photo courtesy of MD Anderson Cancer Center

In a time when our health care heroes are serving on the front lines of the coronavirus, it's a great reminder of the work they all do round — from the research labs and academic institutions to the patient rooms. Jim Allison, a researcher in immunotherapy for MD Anderson Cancer Center recently took home the Nobel Prize for his work. He went on to be the subject of a documentary that premiered at SXSW last year, and that film will be coming to a TV near you.

Jim Allison: Breakthrough premieres on Independent Lens at 9 pm Monday, April 27, on PBS, PBS.org, and the PBS Video App. Read more.

For newly named CEO of Topl, it's game on. Courtesy of Topl

Coronavirus has placed new focus on digitization and supply chain, says Houston blockchain startup leader

HOUSTON INNOVATORS PODCAST EPISODE 25

From a business perspective, Kim Raath, founder and CEO of Topl, sees the challenges and expected recession caused by COVID-19 as an opportunity — and a test.

"A bunch of companies — like Airbnb — were built in the 2008 recession," Raath says on this week's episode of the Houston Innovators Podcast. "I'm excited to see if we make it through here, I think we can survive anything."

Topl was founded by Rice University graduates — Raath, James Aman, and Chris Georgen — to track impact in various industries, such as carbon footprints in oil and gas or fair wages for farmers in agriculture, via a robust blockchain network. The company closed a $700,000 seed round last year and is looking toward another round of investment this year — yes, even amidst the current situation.

Raath just recently took over as CEO for the company following the completion of her Rice Ph.D in statistics and a Master's in economics, and it was a perfect time for the founders to sit down and realign their company. Aman will continue to focus on the tech, Georgen will focus on the customer, and Raath will steer the ship.

"It was definitely a cool experience for us as founders to go through together, but I'm glad that all three of us came out of this excited about what we're doing moving forward," says Raath.

And then, the coronavirus hit, which, to Raath, has proven to be an added obstacle and an exciting time to be in the track and trace world of blockchain.

"A lot of these COVID-19 trackers that everyone is watching, the data is being pulled into these trackers in the same way you could be tracking your chocolate, diamonds, anything," says Raath. "I'm excited to see the virtual and digital side of this — people are realizing you can use data to visualize things — and at the same time use that data for informed decision making."

She's observed that people are actually thinking of the effects on supply chain — in more than just the business sense.

"I don't think any of us thought this much about supply chain. Most of us just went to the grocery store, and we had all these options," Raath says.

Raath, like many startup founders, have had to make some tough calls and some huge cuts to her business, which has been scrappy and bootstrapped most of its existence anyways. In the episode, she offers her fellow startup leaders some advice about making these cuts as well as reminds them, as well as herself, that everyone is in the same boat right now — ask yourself what you can do to stand out and survive.

"Everyone is in the same place — including your competition right now," Raath says. "You don't have control of the uncertainty — but no one does. What do you have control over right now and how can you act on that control. That's what my focus has been."

Listen to the full episode below — or wherever you get your podcasts — and subscribe for weekly episodes.


Human-tissue printing technology, blockchain networks, health care solutions, game-changing software — all this innovation and more is coming out of Houston startups. Courtesy photos

Editor's Picks: Top 10 Houston startup feature stories of 2019

2019 in review

Thousands of startups call Houston home. According to the Greater Houston Partnership's data, the Houston area added 11,700 firms between 2013 to 2018. And, if you consider Crunchbase's tally, at the end of 2018, Houston had over 1,400 tech startups on the investment tracking website's radar.

This past year, InnovationMap featured profiles on dozens of these Houston startups — from blockchain and software companies to startups with solutions in health care and oil and gas. Here are 10 that stood out throughout 2019.

Topl — a blockchain startup connecting every step of the way

Houston-based Topl can track almost anything using its blockchain technology. Getty Images

For Topl, 2019 was a year of laying the groundwork. In a January 2019 article on InnovationMap, Kim Raath, president of the Houston-based blockchain company, explained that Topl's mission originated out of the fact that 60 percent of the world lives on $10 a day — and it's in the poorest regions of the world where it's the hardest to get funding for a new business.

Raath says that in her experience backpacking and volunteering all around the world she learned that banks are too overwhelmed to evaluate these potential businesses. Topl has created a technology where banks can easily generate a report on these entrepreneurs that evaluates and makes a loan or investment recommendation on the business.

"We are a generation that wants a story," she says. "We want an origin, and don't want to be fooled. And, because you might be able to reduce the cost by having this transparency, you might be able to bring down the cost on both sides."

Later that year, the company closed a 20 percent oversubscribed $700,000 seed round. With the money, Topl will be able to grow its platforms, provide better product features, and increase marketing efforts. Topl's customers are drawn to the technology because of the business efficiency the blockchain adds to their supply chain, but they are also excited about how having this technology differentiates them from their competition. Raath says she's interested in growing Topl's ability to do joint marketing campaigns with their customers.

Incentifind — finding green incentives for commercial and residential building

Natalie Goodman founded Incentifind, which connects home builders and commercial developers with green incentives. Courtesy of Incentifind

When asked about the origin story of IncentiFind — a Houston-based startup that connects real estate developers and home builders with green construction incentives — founder Natalie Goodman doesn't mince words.

"We're a complete accident," Goodman tells InnovationMap in an interview in March. "I'm an architect. We didn't set out to have a startup."

IncentiFind's mission is to increase the amount of green developments and construction projects in the U.S. The company is equipped with a massive database of green incentives that are offered by utility, county, city, state and federal agencies. Many home builders or commercial developers don't take advantage of green incentives because they're simply not aware of them, Goodman says. Commercial developers can expect to spend around $1,500 with IncentiFind, while homeowners can expect to spend between $50 and $150.

Lazarus 3D — 3D printed organs to better train surgeons

Lazarus 3D is using 3D printing to help advance surgeons' skills. Photo via laz3d.com

It's pretty standard for surgeons in training to practice complicated surgeries on produce — slicing bananas open and sewing grapes back together. But for a pair of Baylor College of Medicine-educated doctors, that didn't seem like sufficient prep for working with living bodies; fruit surgery was not fruitful enough. In 2014, Drs. Jacques Zaneveld and Smriti Agrawal Zaneveld founded Lazarus3D to build a better training model — and layer by layer, they created models of abs and ribs and even hearts with a 3D printer.

"We adapted pre-existing 3D printing technology in a novel proprietary way that allows us to, overnight, build soft, silicone or hydrogel models of human anatomy," Jacques, who serves as CEO, tells InnovationMap in July. "They can be treated just like real tissue."

This year, the company grew to seven people and aims to expand even more to add to its sales and manufacturing teams. Having been funded mostly by friends and family investors, Lazarus3D plans enter its first equity round to raise $6 million, InnovationMap reported last summer.

Mental Health Match — connecting people to the right therapists

Ryan Schwartz realized online dating was easier than finding a therapist. He created a tool to change that. Courtesy of Mental Health Match

Nearly five years ago, Ryan Schwartz sat in a coffee shop in crisis mode. His mother had just died suddenly and he was struggling to find an appropriate therapist. Across the table, his friend sat making a profile on a dating app. Quickly, her endeavor was complete and she was ready to swipe right, but Schwartz was still on the hunt for mental help.

"In two minutes she could have a profile matching her with a partner potentially for the rest of her life and I was sitting there for hours and hours trying to find a therapist," he told InnovationMap in June. "I thought it should be easier to find a therapist than a life partner. That's what sent me on my journey."

That journey reached a watershed last month when Schwartz launched Mental Health Match, a website designed to pair patients with their ideal therapist. The idea gained traction as Schwartz described it to people he met and found that many said they had experienced similar difficulties in finding the right practitioner for their needs.

Grab — making ordering food at the airport easier

Houston-based Grab makes it so you're waiting in one less line at the airport. Getty Images

Most airport lines are unavoidable, but a Houston startup has cut out at least some of those lines with its mobile ordering app. Houston-based software company Grab was founded by Mark Bergsrud in 2015, who worked in senior leadership roles for almost 20 years at Continental Airlines and then United Airlines, following the merger. For Bergsrud, Grab feels like another major mobile game changer the industry experienced.

"I spent many years thinking about the travel experience and how to make it better and faster," Bergsrud told InnovationMap in July. "This feels like how mobile check in felt. There was a problem customers didn't know they had — check in wasn't that difficult anyway, but to be able to have that control, people love it."

Grab now has a presence in over 37 airports around the world, including Dallas and Austin though, ironically, not yet either of Houston's airports. Expansion is in the works for Grab, which closed a multimillion-dollar Series A round this year — London-based Collinson Group was the sole contributor.

NurseDash — An app that connects nurses to shifts

Houston-based NurseDash is the Uber of staffing nursing shifts in medical facilities. Photo via nursedash.com

Across the country, medical facilities are short on nurses. Agencies play a role in matchmaking nurses to open shifts, but agencies charge a high percentage for placement and lack transparency, says Andy Chen, former CFO for Nobilis Health Corporation. That's why he and Jakob Kohl created their app, NurseDash in 2017. The project manager for the app is in New York, but official headquarters in Houston's Galleria area, where a staff of five works with the team spread out around the world.

Since its debut, NurseDash has attracted 40 facilities in Houston, InnovationMap reported in May, including hospitals, surgery centers, and senior living, and about 400 nurses. Chen says he isn't sure just what to call his technology yet, but compares it to the ride hailing of Uber or Lyft and calls it "a virtual bulletin board."

Syzygy — hydrogen cells battery to minimize natural gas

Trevor Best, CEO of Syzygy Plasmonics, walked away from EarthX $100,000 richer. Photo via LinkedIn

A Houston technology company is doing something that, for many decades, wasn't thought to be possible. Syzygy Plasmonics is creating a hydrogen fuel cell technology that produces a cheaper source of energy that releases fewer carbon emissions. The hydrogen-fueled technology originated out of research done over two decades by two Rice University professors, Naomi Halas and Peter Nordlander.

Syzygy's technology, CEO Trevor Best told InnovationMap in August, is structured more like a battery than that of a combustion engine. Inside the technology, there are cells, lights, and mirrors making as bright as possible, which then spurs a reaction that creates energy. It has the potential to be cheaper — it's made with cheaper materials — and, of course, cleaner than traditional fueling technology with fewer carbon emissions released.

This new photocatalytic chemical reactor has the potential to shake up the industrial gas, chemical, and energy industries — something that hasn't gone unnoticed by investors. Syzygy just closed a $5.8 million Series A round, and the funds will allow for Syzygy to continue to develop its technology and grow its team. Best tells InnovationMap that he expects to launch a full-size pilot by the end of 2020 and is already in talks with potential clients who are interested in the technology for industrial purposes.

Volumetric — 3D printed human tissue

Houston researchers are commercializing their organ 3D printing technology. Jordan Miller/Rice University

There may come a time when you or someone you love is in need of a new pair of lungs. Or perhaps it's a liver. It's not a scenario anyone dreams of, but thanks to Houston company Volumetric, you may never end up on a waiting list. Instead, that organ is made to order and 3D printed using a mix of medical plastics and human cells.

And this possibility isn't necessarily in the distant future. On the cover of the May 3 issue of the journal Science, is a contraption that looks a bit like a futuristic beehive. It's a working air sac complete with blood vessels, the beginnings of a technology that is perhaps only a decade from being implanted in humans. And it was crafted on a 3D printer in Jordan Miller's lab at Rice University. Miller and his bioengineering graduate student Bagrat Grigoryan are primed to profit from their inventions.

In 2018, they started Volumetric Inc., a company that sells both the hydrogel solutions used for printing organs like theirs and the printers themselves. Touring Miller's lab in the Houston Medical Center is a visual timeline of his team's progress designing printers. The version being manufactured is a slick little number, small enough to fit under chemical exhaust hoods, but fitted with everything necessary to print living tissues. It's made and sold in cooperation with CellInk, a larger bioprinting company.

"Our technology is based on projection," Miller told InnovationMap in May. Specifically, it's stereolithography, a type of 3D printing that produces the finished product layer-by-layer. Shining colored light of the right intensity turns the polymers into a solid gel.

Voyager — Email-less communication tool for maritime shipping

Voyager, a Houston SaaS company, has received fresh funds to develop its bulk shipping software. Tom Fisk/Pexels

Houston software startup Voyager is making waves in its quest to improve efficiency — and stem billions of dollars in losses — in the maritime bulk-shipping business. Now, it's got some fresh capital to help it achieve that mission.

InnovationMap reported in August that Houston-based Voyager revealed it secured $1.5 million in seed funding from four investors from around the world: Austin-based ATX Venture Partners, Houston- and California-based Blue Bear Capital, New York City-based GreenHawk Capital, and Oman-based Phaze Ventures. Previous investors include Boulder, Colorado-based Techstars and Spring-based Knightsgate Ventures.

With its software-as-a-service offering, Voyager aims to modernize the workflows of operators in the maritime bulk-commodities industry. The company says its technology will become more vital as autonomous shipping and internet- and Internet of Things-enabled cargo vessels grow in popularity. Voyager's technology enables all communication tied to a shipment to be handled via its web dashboard and app, essentially creating a one-stop shop for people who need to track messages about maritime bulk shipments.

"With Voyager, what it allows companies to do is essentially have all of those counter parties working together in a shared environment to manage the voyage together — entirely email free," Matthew Costello, CEO, tells InnovationMap in December.

Galen Data — cloud-based platform for connecting medical devices to the internet

Houston-based Galen Data is growing its clientbase and just formed two new partnerships with medical device companies. Photo via galendata.com

Educated as an engineer, Chris DuPont has stepped outside his professional comfort zone to generate funding for his Houston-based startup, Galen Data Inc. DuPont's pool of technical contacts in Houston is "wide and deep," he says, but his pool of financial contacts had been shallow.

Overcoming obstacles in Houston's business waters, DuPont has raised two rounds of angel funding — he declines to say how much — that have enabled Galen Data to develop and market its cloud-based platform for connecting medical devices to the internet, including pacemakers and glucose monitors. DuPont is the startup's co-founder and CEO.

Galen Data's patent-pending technology lets medical device manufacturers tailor the cloud-based software to their unique needs. DuPont says his company's software is geared toward medical devices that are outside, not inside, hospitals and other healthcare facilities. He declines to divulge how many customers the startup has.

Hatched within Houston-based Tietronix Software Inc., DuPont's previous employer, Galen Data launched in 2016 but didn't roll out its first product until 2018. Galen Data's emergence comes as the market for internet-connected mobile health apps keeps growing. One forecast envisions the global space for mobile health exceeding $94 billion by 2023.

"We want to be at the forefront of that technology curve," DuPont tells InnovationMap in May. "We might be six months early, we might be a year early, but it's starting to happen."

Samantha Lewis is the director at The Goose Society of Texas. Courtesy of Samantha Lewis

Investment group director calls for more startup funding out of Houston

Houston innovators podcast episode 2

A key factor in growing an innovation ecosystem is having the funds to fuel startup growth. Samantha Lewis, director for The GOOSE Society of Texas — a local group of investors — and an entrepreneur herself, is calling on the city's players to help move the needle.

"We have to think about getting more capital available for companies that add strategic value to Houston," Lewis says on the second episode of the Houston Innovators Podcast

Lewis is a Rice University MBA graduate and was involved in two startups before beginning her role at GOOSE, which stands for the Grand Order of Successful Entrepreneurs. The group of 25 high-net-worth individuals operates similar to an angel investment group, in that they invest in early stage companies, but also like a fund, in that they take an active role in the companies in which they invest. The group invests around $10 million annually, with a quarter of that being new deals ranging from $1.5 million to $2 million per check.

"What we do is, as we find these companies, there's usually me and one or two of the investors working on the sourcing and the due diligence. If we find a company and we like it, we bring it in front of the entire group of investors," Lewis says on the podcast. "Each investor gets to decide on its own whether or not they want to commit money.

On the podcast, Lewis talks a bit about GOOSE's recent investment with Syzygy Plasmonics, as well as an investment in Topl, a company she personally felt compelled to help make happen. Both deals came about with networking, a path she gives some guidance on during the episode.

"It's much easier to get in front of investors when you have a referral," she says.

For the full interview, check out the podcast below. Subscribe to the series so you never miss the latest Houston entrepreneur conversations.


Seven Houston startups are beginning October with fresh funding. Photo by Tim Leviston/Getty Images

These 7 Houston startups closed millions in funding last month

Venture adventures

September was a busy month for several Houston startups. Seven companies closed rounds throughout the month and are now beginning the fourth quarter of 2019 with fresh funds.

InnovationMap has rounded up these seven deals based on previous stories as well as new information. Scroll through to see which Houston startups are catching the eyes — and cashing the checks — of investors.


Galen Data

Houston-based Galen Data is growing its clientbase and just formed two new partnerships with medical device companies. Photo via galendata.com

Texas Halo Fund led a Houston startup's seed round last month. Galen Data, which uses its cloud-based software to connect medical devices, closed a $1 million seed round thanks to the fund's $250,000 investment. Kevin King, one of Texas Halo Fund's managing director, has also been named to the startup's board of directors.

According to the release, the Texas Halo Fund based its decision for the investment "on the large and growing addressable market of connected medical devices, the company's impressive management team, and post revenue status."

Galen Data's emergence comes as the market for internet-connected mobile health apps keeps growing. One forecast envisions the global space for mobile health exceeding $94 billion by 2023.

"We want to be at the forefront of that technology curve," DuPont tells InnovationMap in a previous interview. "We might be six months early, we might be a year early, but it's starting to happen."

Earlier this year, Galen Data formed strategic partnerships with medical device companies. Click here to read more about those.

SurfEllent

Photo via surfellent.com

SurfEllent, an anti-icing coating technology startup founded out of the University of Houston has raised $470,000 in funding. The company won the second place award and a total of $45,000 at the Texas A&M New Ventures competition before receiving an anonymous investment of $350,000 in seed funding. SurfEllent also received two grants: a $50,000 Small Business Innovation Research grant and a $24,999 Small Business Technology Transfer grant.

"Ice is a problem that will exist as long as we live on the earth. It impacts a wide range of things, including aircraft wings and engines, automobiles, buildings and bridges, ships and vessels, and power transmission systems," says SurfEllent Co-Founder Hadi Ghasemi, a Bill D. Cook Associate professor of mechanical engineering at the UH Cullen College of Engineering, says in a news release.

SurfEllent's product can be used in the de-icing of cars and airplane engines.

"The end goal is to improve the quality of human life," Ghasemi says in the release. "This recognition is another proof of the critical need for advanced anti-icing coating technologies and opens opportunities for collaboration with various industries and business partners."

Cemvita Factory

Cemvita Factory

In August, Occidental Petroleum's Oxy Low Carbon Ventures LLC invested in Houston-based Cemvita Factory, and in September, BHP followed suit. While Cemvita Factory isn't able to disclose how much money its raised through these partnerships, the company confirms it has closed its round of funding.

Cemvita Factory is run by a brother-sister team. Moji and Tara Karimi built the company off of Tara's research into mimicking photosynthesis. The process is able to help reduce energy company's carbon emissions.

"We have an ambitious goal to take one gigaton of CO2 out of the carbon cycle in the next decade and are very excited about being a part of Occidental's journey to become a carbon-neutral company," says Tara, co-founder and chief scientist, in a news release.

The investments will help Cemvita Factory continue to develop its biomimicry technology for oil and gas applications to reduce the volume of greenhouse gas emissions.

Read more about Cemvita's technology by clicking here.

Sourcewater

oil and gas It might not be surprising to discover that the energy capital of the world is a hub for energy startups. Getty Images

Houston-based Sourcewater Inc., which specializes in oilfield water intelligence, closed its series A round at $7.2 million. Bison Technologies, Marubeni Corp., and major energy family offices in Houston, Midland, Dallas, and Oklahoma City contributed to the round. The funds will go toward further developing the company's technology.

"For every barrel of oil produced in the Permian Basin there are more than ten barrels of associated water that are sourced, recycled, transported, and disposed of," says Joshua Adler, founding chief executive of Sourcewater, in a news release. "When America became the world's leading energy producer last year, it also became the world's leading water producer, times ten. Water management is now the majority of upstream energy production cost, and water sourcing, recycling and disposal capacity is the primary constraint on America's energy future."

Read more about the raise here.

SEATz

sEATz

Houston startup 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.

Read more about sEATz's raise by clicking here.

Syzygy

Earlier this year, Trevor Best, CEO of Syzygy Plasmonics, walked away from EarthX $100,000 richer. Now, he has an even bigger check to cash. Photo via LinkedIn

Using research that came out of Rice University, Syzygy Plasmonics has developed a hydrogen fuel cell technology that produces a cheaper source of energy that releases fewer carbon emissions.

The company just closed a $5.8 million Series A round led by MIT's The Engine and Houston-based The GOOSE Society of Texas. Evok Innovations, a previous investor in the company, and angel investors from the Creative Destruction Lab also contributed to the round.

"We're starting to solidify relationships and get customers ready," CEO Trevor Best tells InnovationMap.

Read more about Syzygy's technology by clicking here.

Topl

blockchain

Houston-based Topl can track almost anything using its blockchain technology. Getty Images

Houston-based Topl, a blockchain network with applications across industries, closed a 20 percent oversubscribed $700,000 seed round.

"Every investor that is invested now has focused on both the purpose and the profit, and I'm big on that," Kim Raath, president and co-founder of Topl, says.

The team has built six blockchain platforms that operate on the Topl network — two are live now, and four will go live later this year. The platforms are focused on four different areas: agriculture (tracking food products from the farm to the shelves), mining (diamonds, for instance), sustainability and impact (tracking a program to see how it succeeds), and carbon credits and renewables within the energy industry.

Click here to read more about the raise and what it means to Topl's technology.

Houston-based Topl has raised over $700,000 in its seed round. Getty Images

Houston blockchain startup closes oversubscribed seed round of funding with local investors

Topl the world

Kim Raath is pretty proud of her company right about now. Not only is she proud that her startup, Topl, a blockchain network with applications across industries, closed a 20 percent oversubscribed $700,000 seed round, but because she did it in a way that was directly in line with her company's values.

"Every investor that is invested now has focused on both the purpose and the profit, and I'm big on that," Raath, president and co-founder of Topl, says.

Houston-based Topl was created by a few Rice University graduates and doctoral students — Raath, Chief Technology Officer James Aman, and CEO Chris Georgen. The founders wanted to create a way to track impact in various industries, such as carbon footprints in oil and gas or fair wages for farmers in agriculture.

The team has built six blockchain platforms that operate on the Topl network — two are live now, and four will go live later this year. The platforms are focused on four different areas: agriculture (tracking food products from the farm to the shelves), mining (diamonds, for instance), sustainability and impact (tracking a program to see how it succeeds), and carbon credits and renewables within the energy industry.

"It's a validation time for us," Raath tells InnovationMap. "With two platforms already live and collecting transaction fees, we are now at a point where there are actual blockchain transactions happening on our network."

The fact that Topl's technology is already up and running is rare. For this reason, Raath says she has to focus a lot on educating investors, clients, and the rest of the community — something that's really important to her.

"In the blockchain space, there are not a lot of real applications live anywhere," Raath says. "A lot of people are selling ideas that can be built on blockchains, but have not executed yet."

Topl partnered with European NGO Fairfood to create an agricultural blockchain platform that currently is live. Shoppers in the Netherlands can buy a pack of nutmeg and track the product's progress from the farmer who grew and sold the spice. The other already launched platform is focused on sustainability. Topl worked with the Texas Coastal Exchange to create a carbon credit marketplace that can sell carbon offsets generated through the natural carbon sequestration activities of land the organization holds along the Texas coast.

"For us this round is taking these four spaces and validating ourselves, proving out volume, the blockchain's ability, and then, the big thing is, to build out our next version of our blockchain," Raath says.

Raath says the fundraising round was different from what she expected, but she's excited about her investors. Seventy percent of the round was raised by Houstonians, and 40 percent of the investors were women, she says. Topl also had investor interest across industries and backgrounds — from Rice University professors to former banking execs.

The round doesn't technically have a lead investor, but Samantha Lewis, director at the GOOSE Society of Texas, led a syndicate of investors that made up more than 40 percent of Topl's round. Lewis says the round was too early stage for something GOOSE investors would typically contribute to, but she believes in the company so much that she worked nights and weekends to accomplish some of the things a lead investor would do during a raise.

"Since this was their first big round that they raised, I stepped in to help advise them — thinking about the terms, strategic investors, how to pitch to different people, if they needed to oversubscribe, and little details like that," Lewis says. "Through working with them in this way, I was doing diligence with them, and I got really excited about it."

Lewis, who volunteers a lot within the Rice network, met Raath through Georgen and the two hit it off. Lewis was then able to bring in investors from her network to contribute under her syndicate.

This passionate group of value-add investors who are personally committed to the company is what makes this seed round different for Raath. Their commitment is encouraging to her.

"I 100 percent believe that the investors in this round will not allow Topl to fail," Raath says.

With the money, Topl will be able to grow its platforms, provide better product features, and increase marketing efforts. Topl's customers are drawn to the technology because of the business efficiency the blockchain adds to their supply chain, but they are also excited about how having this technology differentiates them from their competition. Raath says she's interested in growing Topl's ability to do joint marketing campaigns with their customers.

This type of promotion leads to a growing clientbase, and Raath says she sees an overwhelming interest from potential clients. Not only is Topl creating a series of platforms in various industries, but the company itself is connecting other companies through their clients.

"Topl is not just a technology," Raath says, "it's an ecosystem."

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TMCx names 9 health tech startups to its 2020 cohort

X-CITING NEWS

Now, more than ever, is time to think about the future of health care. Lucky for the Texas Medical Center, they've been doing that for years with their accelerator program, TMCx, which has just announced its latest cohort of health tech startups.

After redesigning the program, TMCx has been reimagined to better connect the startups and technology to TMC's member institutions. New this year was a bootcamp, in which 19 companies were invited to the TMC Innovation Institute in February to engage in programming with the TMCx team and TMC members.

"Bootcamp went off without a hitch," says Lance Black, associate director of TMCx, on a recent episode of the Houston Innovators Podcast. "And the companies all got something meaningful out of it and we were actually very surprised with the reaction and response we got from our member institutions."

The goal of the bootcamp was to connect the 19 potential cohort members to the TMC community to see which companies the health care institutions gravitated toward for potential relationships, such as a pilot program, clinical trial, or a joint development opportunity, for instance, Black says on the episode.

Black says his team took into consideration all of the feedback and selected nine startups to be a part of the cohort. At this point, with the COVID-19-caused travel issues and closures, face-to-face interaction in the program has been postponed, but the accelerator will start of virtually.

"Out of respect for our hospitals and member institutions, we want to delay the physical presence of the companies in Houston," Black says in the episode. "But that doesn't mean we're not able to call or virtually meet with the companies. There's a lot of pre-work we can do in order to prep the companies appropriately so that when they do have meetings face to face, they can put their best foot forward."

Here are the nine startups selected to be a part of the TMCx 2020 cohort:

  • San Francisco-based Atlas Health — connecting patients with payment resources
  • San Francisco-based DeepScribe — autonomous medical scribe
  • Los Angeles-based Elly Health — live healthier through positivity
  • San Francisco-based Ferrum Health — reduce preventable medical errors
  • Toronto-based HelpWear — clinical grade wearable heart monitor
  • London-based Lantum — total workforce solution for healthcare
  • Denver-based Manatee — connected, everyday therapy for kids
  • Copenhagen-based Radiobotics — automate analysis of routine medical X-rays
  • Evanston, Illinois-based Rhaeos — wearable shunt monitor (Rhaeos previously won fourth place in the 2019 Rice Business Plan Competition.)

Another major Houston conference cancels due to COVID-19

OTC offline

First, CERAWeek announced it would not take place in early March — and SWSW followed suit, as did Rodeo Houston. The spiral of canceled events and conferences continues as the annual Offshore Technology Conference has been canceled.

Every year in Houston, thousands of visitors from some 100 countries around the world descend on NRG Park for the massive expo, which has been a mainstay since 1969, attracted more than 60,000 attendees two years ago, along with more than 2,300 exhibitors — all who come to celebrate the oil and gas industry and its impact on the local economy.

The annual oil and gas event is a significant boon to the local economy, as industry regulars, investors, and entrepreneurs pack our hotels, restaurants, and entertainment venues. The OTC has spawned OTC Brazil, OTC Asia, and even the Arctic Technology Conference. The event has been dubbed the "South by Southwest for offshore" by local insiders.

But amid the COVID-19 pandemic, officials at OTC announced that the 2020 conference — initially postponed until August or September — is canceled. Organizers, already looking ahead, have announced that plans will commence for OTC 2021 in Houston from May 3-6, 2021.

"Amid continued health and travel concerns during this uncertain time, the OTC Board of Directors felt this decision was the most feasible and responsible for staff, exhibitors, partners, attendees, and the Houston community," organizers said, in a release.

"As we navigate these difficult and uncertain times, it is with a heavy heart that the OTC Board of Directors has determined that it is in our best interest to cancel OTC 2020. Our priority is the health and safety of our attendees and exhibitors, and we have taken federal, state, and local guidelines into account in making our decision," said Cindy Yeilding, OTC chairperson, in a statement.

For those involved in the conference, a call for papers will be open on May 28. Event updates will be posted on the official website.

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This article originally ran on CultureMap.

Houston Methodist tech hub focuses on telemedicine training amid COVID-19 outbreak

virtual care

Houston Methodist's recently opened its new Center for Innovation's Technology Hub in January, and the new wing has already been challenged by a global pandemic — one that's validating a real need for telemedicine.

The 3,500-square-foot tech testing ground was renovated from an 18-room patient wing and showcases new digital health technologies like virtual reality, ambient listening, wearables, voice control, and more. The hub was focused on giving tours to medical professionals and executives to get them excited about health tech, but in the middle of March, Josh Sol, administrative director of Innovation and Ambulatory Clinical Systems at Houston Methodist, says they saw a greater need for the space.

"We turned the technology hub into a training center where physicians could come on site and learn telemedicine," Sol says. "We had some foresight from our leadership who thought that telemedicine was going to be heavily utilized in order to protect our patients who might go into isolation based on the outbreak."

The hub has trained over 500 physicians — both onsite and digitally. Sol says that at the start of March, there were 66 providers offering virtual care, and by March 25, there were over 900 providers operating virtually. On March 12, Houston Methodist had 167 virtual visits, Sol says, and on March 25, they had 2,421. This new 2,000-plus number is now the daily average.

"Telemedicine is here to stay now with the rapid adoption that just happened," Sol says. "The landscape will change tremendously."

Another way new technology has affected doctors' day-to-day work has been through tele-rounding — especially when it comes to interacting with patients with COVID-19.

"We are putting iPads in those rooms with Vidyo as the video application, and our physicians can tele-visit into that room," Sol says.

It's all hands on deck for the tech hub so that physicians who need support have someone to turn to. Sol says the hub used to have a two-person support team and now there are eight people in that role.

Sol says the iPads are a key technology for tele-rounding and patient care — and they are working with Apple directly to secure inventory. But other tech tools, like an artificial intelligence-backed phone system, an online symptom checker, and chatbots are key to engaging with patients.

"We're looking at how we can get our patients in the right place at the right time," Sol says. "It's very confusing right now. We're hoping we can streamline that for our patients."

The hub was designed so that in case of emergency, the display hospital rooms could be transitioned to patient care rooms. Sol says that would be a call made by Roberta Schwartz, executive vice president and chief innovation officer of Houston Methodist Hospital.