It’s time to better understand the galaxy of channels we use to shop online and in stores. Photo via Pexels

Back in the Paleolithic Age of online marketing — say, 15 years ago — the idea of online sales as a significant business vehicle for brands such as Target or Walmart was almost unimaginable. Shopping meant going to a store, because stores were where sales happened.

Today, people shop with their computers, via watches and phones, even through their refrigerators. Sellers market on multiple platforms, digital and traditional, including the brick and mortar store. Even the glossy catalogues that arrive in the mail still prompt sales.

Advancing technology has made it possible for consumers to shop not only across a staggering number of channels — but to do so in a constellation of ways. Say a shopper has broken down and decided to buy a wildly popular all-purpose pressure cooker. She might start off using the internet to glean product details and prescreen options. Then she might visit a retail outlet to eyeball the product herself. Finally, after mulling for days, she may impulsively whip out her phone to make the order.

But what determines these particular choices of shopping venues? Rice Business professor Utpal M. Dholakia set out to map this new landscape of consumerism. Joining Dholakia were colleagues Barbara E. Kahn of the Wharton Business School, Randy Reeves of Macy’s Department Stores, Aric Rindfleisch of the University of Wisconsin, David Stewart of the University of California at Riverside and Earl Taylor of the Marketing Science Institute.

Consumer behavior, the researchers knew, is too complex — too all-over-the-map — to develop any sort of quantum marketing theory to explain it. So while interested in answers, the team aimed instead to frame useful questions. Their goal was to bring attention to the multi-channel retailing environment, creating a comprehensive but flexible way to investigate how shoppers navigate the intricate modern marketplace.

More specifically, Dholakia’s team wanted to learn exactly what consumers are finding. What do they do while using various internet and other tools to shop? When do different types of shoppers grab their devices and buy? What obstacles crop up as shoppers wend their ways through this maze of venues? Finally, the researchers wanted to map the vast scope of research issues surrounding this customer behavior.

It was fairly simple to answer the first question: Why do we use such diverse shopping tactics? Usually, it’s about getting the best deal. Some people, however, take their shopping seriously, savoring the idea that they are approaching their task both thoughtfully and thoroughly. Others get a genuine thrill out of the social experience of being part of a community, or from experimenting with different products and ways to buy them. And some shoppers head straight to a certain website or media source because they expect a specific price tag.

Many consumers, Dholakia and his co-researchers found, constantly change the means they use to shop. In one survey of 337 multichannel shoppers, for example, the researchers found that 52 percent reported migrating back and forth from offline to online channels across four product categories including books, airline tickets, stereo systems and wine. This hopscotching from brick and mortar to catalogues, to online and back, could be predicted by certain factors including price, the product they were looking for, how they evaluated the product and even waiting time.

The researchers also found that each type of shopper uses channels differently. Penny-pinchers don’t care where they buy, as long as the price is right. Generalists shop online or in the store because of the overall shopping experience. Traditionalists shun new ways of shopping, and multichannel enthusiasts happily bounce between stores, the internet and catalogues. Finally, the hard-core, store-focused customers will only shop in a place with doors and shelves.

To add a layer of complication, some don’t use channels to shop at all. They just want information. These are the shoppers who pop into to a store to test drive a phone before they buy it online. They study the pressure cooker in a catalogue before they go to the store.

And even within all the online options, there are innumerable detours to explore. Say you want a Nikon camera. You might go to an enthusiasts’ page such as Nikonians.org before you decide which model to buy, whether it’s online or at the local camera shop. Your friendly chat with the guy who owns the local camera store may now turn into a real-time virtual chat with a company representative.

The new marketplace, in other words, has become a dizzying landscape. Shoppers, clearly, have risen to the challenge. Nevertheless, it’s in the interests of sellers and buyers both to understand more deeply not only why we buy what we buy — but where.

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This article originally ran on Rice Business Wisdom and is based on research from Utpal M. Dholakia, the George R. Brown Professor of Marketing at Jones Graduate School of Business at Rice University.

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Houston edtech company closes oversubscribed $3M seed round

fresh funding

Houston-based edtech company TrueLeap Inc. closed an oversubscribed seed round last month.

The $3.3 million round was led by Joe Swinbank Family Limited Partnership, a venture capital firm based in Houston. Gamper Ventures, another Houston firm, also participated with additional strategic partners.

TrueLeap reports that the funding will support the large-scale rollout of its "edge AI, integrated learning systems and last-mile broadband across underserved communities."

“The last mile is where most digital transformation efforts break down,” Sandip Bordoloi, CEO and president of TrueLeap, said in a news release. “TrueLeap was built to operate where bandwidth is limited, power is unreliable, and institutions need real systems—not pilots. This round allows us to scale infrastructure that actually works on the ground.”

True Leap works to address the digital divide in education through its AI-powered education, workforce systems and digital services that are designed for underserved and low-connectivity communities.

The company has created infrastructure in Africa, India and rural America. Just this week, it announced an agreement with the City of Kinshasa in the Democratic Republic of Congo to deploy a digital twin platform for its public education system that will allow provincial leaders to manage enrollment, staffing, infrastructure and performance with live data.

“What sets TrueLeap apart is their infrastructure mindset,” Joe Swinbank, General Partner at Joe Swinbank Family Limited Partnership, added in the news release. “They are building the physical and digital rails that allow entire ecosystems to function. The convergence of edge compute, connectivity, and services makes this a compelling global infrastructure opportunity.”

TrueLeap was founded by Bordoloi and Sunny Zhang and developed out of Born Global Ventures, a Houston venture studio focused on advancing immigrant-founded technology. It closed an oversubscribed pre-seed in 2024.

Texas space co. takes giant step toward lunar excavator deployment

Out of this world

Lunar exploration and development are currently hampered by the fact that the moon is largely devoid of necessary infrastructure, like spaceports. Such amenities need to be constructed remotely by autonomous vehicles, and making effective devices that can survive the harsh lunar surface long enough to complete construction projects is daunting.

Enter San Antonio-based Astroport Space Technologies. Founded in San Antonio in 2020, the company has become a major part of building plans beyond Earth, via its prototype excavator, and in early February, it completed an important field test of its new lunar excavator.

The new excavator is designed to function with California-based Astrolab's Flexible Logistics and Exploration (FLEX) rover, a highly modular vehicle that will perform a variety of functions on the surface of the moon.

In a recent demo, the Astroport prototype excavator successfully integrated with FLEX and proceeded to dig in a simulated lunar surface. The excavator collected an average of 207 lbs (94kg) of regolith (lunar surface dust) in just 3.5 minutes. It will need that speed to move the estimated 3,723 tons (3,378 tonnes) of regolith needed for a lunar spaceport.

After the successful test, both Astroport and Astrolab expressed confidence that the excavator was ready for deployment. "Leading with this successful excavator demo proves that our technology is no longer theoretical—it is operational," said Sam Ximenes, CEO of Astroport.

"This is the first of many implements in development that will turn Astrolab's FLEX rover into the 'Swiss Army Knife' of lunar construction. To meet the infrastructure needs of the emerging lunar economy, we must build the 'Port' before the 'Ship' arrives. By leveraging the FLEX platform, we are providing the Space Force, NASA, and commercial partners with a 'Shovel-Ready' construction capability to secure the lunar high ground."

"We are excited to provide the mobility backbone for Astroport's groundbreaking construction technology," said Jaret Matthews, CEO of Astrolab, in a release. "Astrolab is dedicated to establishing a viable lunar ecosystem. By combining our FLEX rover's versatility with Astroport's civil engineering expertise, we are delivering the essential capabilities required for a sustainable lunar economy."

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This article originally appeared on CultureMap.com.

Houston biotech co. raises $11M to advance ALS drug development

drug money

Houston-based clinical-stage biotechnology company Coya Therapeutics (NASDAQ: COYA) has raised $11.1 million in a private investment round.

India-based pharmaceuticals company Dr. Reddy’s Laboratories Inc. led the round with a $10 million investment, according to a news release. New York-based investment firm Greenlight Capital, Coya’s largest institutional shareholder, contributed $1.1 million.

The funding was raised through a definitive securities purchase agreement for the purchase and sale of more than 2.5 million shares of Coya's common stock in a private placement at $4.40 per share.

Coya reports that it plans to use the proceeds to scale up manufacturing of low-dose interleukin-2 (IL-2), which is a component of its COYA 302 and will support the commercial readiness of the drug. COYA 302 enhances anti-inflammatory T cell function and suppresses harmful immune activity for treatment of Amyotrophic Lateral Sclerosis (ALS), Frontotemporal Dementia (FTD), Parkinson’s disease and Alzheimer’s disease.

The company received FDA acceptance for its investigational new drug application for COYA 302 for treating ALS and FTD this summer. Its ALSTARS Phase 2 clinical trial for ALS treatment launched this fall in the U.S. and Canada and has begun enrolling and dosing patients. Coya CEO Arun Swaminathan said in a letter to investors that the company also plans to advance its clinical programs for the drug for FTD therapy in 2026.

Coya was founded in 2021. The company merged with Nicoya Health Inc. in 2020 and raised $10 million in its series A the same year. It closed its IPO in January 2023 for more than $15 million. Its therapeutics uses innovative work from Houston Methodist's Dr. Stanley H. Appel.