Here's what 6 Houston startups have raised millions of dollars this year so far

VENTURE ADVENTURES

Houston startups have raised millions so far this year. Getty Images

This year is starting strong when it comes to Houston startups receiving funding. From a $125 million raise from Houston's first unicorn to a local fund gathering up $50 million to deploy in mobility startups, Houston funding news has been pretty exciting.

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

HighRadius Corp.

Houston-based HighRadius has reported reaching unicorn status following a $125 million raise. Photo via highradius.com

Let's start with the biggest one, shall we? Houston-based HighRadius, an artificial intelligence-powered fintech software company, closed a $125 million raise, which earned it a a new title: Unicorn.

The series B round, which achieved this status for HighRadius, was led by ICONIQ Capital, with participation from existing investors Susquehanna Growth Equity and Citi Ventures, according to a news release from the company.

The company, which offices in West Houston, was founded in 2006 founded in 2006 and employs more than 1,000 people in North America, Europe, and Asia. In November, HighRadius opened an office in Amsterdam. According to the news release, the company will use the funds to further expand its global footprint.

Read the full story here.

Proeza Ventures

Auto Driving Smart Car image

A new venture capital fund based in Houston and Monterrey, Mexico, has raised $50 million to back mobility startups. Hiroshi Watanabe/Getty Images

New fund Proeza Ventures, which is based in Houston and Monterrey, Mexico, reportedly closed its first fund Proeza Ventures I at $50 million. The fund is backed by Grupo Proeza, a Mexican portfolio management company with two global platforms operating in the mobility and agroindustry sectors, according to the fund's website.

With the fund's money, Proenza Ventures will invest in 12 to 15 early or growth-stage startups with solutions or new technology within industrial, smart components, new vehicles, MaaS, and digital data services.

Read the full story here.

Ambyint

oil and gas

Ambyint, which has offices in Calgary and Houston, has secured funding from Houston venture capital firms. Getty Images

Canada-based Ambyint, which has an office in Houston, has closed its $15 million series B funding. Houston-based Cottonwood Venture Partners led the round, and Houston-based Mercury Fund also contributed — as did Ambyint's management team, according to a news release.

The money will be used to grow both its Houston and Calgary, Alberta, offices and expand its suite of software solutions for wells and artificial lift systems. Ambyint's technology pairs artificial intelligence with advanced physics and subject matter expertise to automate processes on across all well types and artificial lift systems.

Read the full story here.

vChain Inc.

Houston-based vChain, creator of CodeNotary, has raised $7 million in a series A financing round. Pexels

Houston-based vChain, which created the CodeNotary Open Source code trust solution, has raised $7 million in a series A funding round. Paris-based Elaia Partners led the investment round, and other contributors include Zug, Switzerland-based Bluwat and Seattle-based Acequia Capital.

The software tool, which is used to ensure code is securely transmitted throughout the entire development to production process, has several platform integrations and works with languages such as JavaScript, Python, Go, Java, and more.

Read the full story here.

Vivante Health

good intestine health intestine Food for bowel Health

Vivante Health, which uses technology and at-home testing to help users treat chronic digestive health issues, has raised $5.8 million. Getty Images

Vivante Health raised $5.8 million in a series A1 round, according to a news release. The round was led by California-based Lifeforce Capital and Athens, Greece-based Big Pi Ventures. Additionally, NFP Ventures, FCA Venture Partners, and Longmont Capital contributed to the round.

With the fresh funds, Vivante will continue to develop its GI health platform, GIThrive. The digital tool has an at-home microbiome test kit for users, as well as a breath tester that monitors food sensitivities. GIThrive also connects users to on-demand support from nutritionists and experts on the GIThrive app.

Read the full story here.

Hitched Inc.

Houston-based Hitched has dug up new investment money from a local private equity firm. Pexels

Hitched Inc. raised $5.5 million in its series A funding led by Houston-based Cottonwood Venture Partners, a growth equity firm that focuses on digital tech solutions in the energy industry.

The company, which was founded in 2018, coordinates the rentals — from hosting and chartering to managing them — all on one centralized platform. Hitched has a catalogue of equipment from generators and cranes to light towers, pumps to forklifts, and the site lists out the cost per day of each piece of machinery.

Read the full story here.

Houston-based vChain, creator of CodeNotary, has raised $7 million in a series A financing round. Pexels

Houston software company closes $7 million series A

money moves

A Houston tech company that has optimizes a notarization system for coding professionals has closed a multimillion-dollar round of funding.

Houston-based vChain, which created the CodeNotary Open Source code trust solution, has raised $7 million in a series A funding round. Paris-based Elaia Partners led the investment round, and other contributors include Zug, Switzerland-based Bluwat and Seattle-based Acequia Capital.

"CodeNotary today processes over 9 million code and container authentications every single month," says CEO Moshe Bar in a news release. "We believe this is proof that the market demands secure and simple to use trust solutions for the modern DevOps environment."

Bar, who previously founded of XenSource and Qumranet, co-founded vChain with Dennis Zimmer in late 2018. The company released its first product in April of last year, and has a secondary office in Amsterdam.

"With much more at stake both financially and reputationally, companies must act quickly to bring trust and security into their DevOps process," Bar continues. "CodeNotary was created to solve this issue and ensure that only trusted code and data run in production."

The software tool, which is used to ensure code is securely transmitted throughout the entire development to production process, has several platform integrations and works with languages such as JavaScript, Python, Go, Java, and more.

"Our vision is a digital world where every object has a globally unique and meaningful identity," says Zimmer, who serves as CTO, in the release. "For the first time, DevOps teams can completely secure the integrity of their Continuous Integration and Continuous Delivery pipelines. Not just internally, but also across companies, contributors and contractors."

The money raised will be used to continue the development of the tool as the DevOps industry continues to grow within the market.

"The DevOps industry is a rapidly growing billion-dollar market transforming itself very quickly," says Marc Rougier, partner at Elaia, in the release. "The importance of DevOps for any organization is obvious, no matter its size. However, the main reason for hesitation in DevOps transformation is a lack of trust. vChain is the leading solution to bring trust to DevOps and we're thrilled to be a part of it."

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Houston universities rack up rankings in reports on top schools for entrepreneurship

5 years running

Rice University and the University of Houston have once again scooped up accolades for their entrepreneurship programs.

For the fifth consecutive year, Rice’s Jones Graduate School of Business has been ranked the No. 1 graduate entrepreneurship program by The Princeton Review, a provider of education services, and Entrepreneur magazine.

“Our close ties to Houston as well as national startup ecosystems give our students unique opportunities to pitch to and connect with angel investors, venture capitalists and corporations,” Brad Burke, managing director of the Rice Alliance, says in a news release. “These connections allow for mentorship, as well as launch points for new ideas, not only for our students but also for the city and surrounding communities.”

The list identifies 50 undergraduate and 50 graduate programs that boast the best entrepreneurship offerings based on factors such as coursework, experiential learning opportunities, and career outcomes. The ranking measures more than 40 data points about the schools’ entrepreneurship programs, faculties, students, and alumni.

Also for the fifth consecutive year, the University of Houston’s Cyvia and Melvyn Wolff Center for Entrepreneurship in the C.T. Bauer College of Business has been named the No. 1 undergraduate entrepreneurship program by The Princeton Review and Entrepreneur magazine.

“We believe in entrepreneurship, we believe in free enterprise, and we’re in the number one city for entrepreneurship,” Dave Cook, executive director of the Wolff Center, says in a news release.

“When we put students into this entrepreneurial mix,” he adds, “and we introduce and reinforce free enterprise values, our intent is to change students’ lives and to create the next generation of business leaders with the highest integrity who are going to go out and create their own cultures, their own companies and their own futures.”

The University of Texas at Austin is the only other school in the state to make the top 10 of either the graduate ranking or undergraduate ranking. UT captures the No. 6 spot on the graduate list and No. 2 spot on the undergraduate list.

Aside from The Princeton Review and Entrepreneur honor, Rice climbed four spots in Poets&Quants’ annual ranking of the world’s best MBA programs for entrepreneurship.

Last year, Rice’s graduate school for business landed at No. 7 on the list. This year, it rose to No. 3, behind the first-ranked Olin School of Business at Washington University in St. Louis and second-ranked ESTM Berlin.

This is the fifth annual ranking of MBA programs for entrepreneurship from Poets&Quants, a website that focuses on graduate-level business education.

“MBA programs are increasingly sought after in today’s environment, and our focus on entrepreneurship sets us apart,” Peter Rodriguez, business dean at Rice, says in a news release. “The entrepreneurship classes emphasize a combination of mindset and skill set and focus on multiple stages of the entrepreneurial process, preparing our students for any industry and climate.”

Poets&Quants relies on 16 data points collected through an annual survey to come up with its ranking. Among those data points are:

  • Average percentage of MBA students launching businesses during their program or within three months of graduation between 2018 and 2022.
  • Percentage of MBA elective courses with all of the curriculum focused on entrepreneurship or innovation during the 2022-23 academic year.
  • Percentage of MBA students active in the business school’s main student-run entrepreneurship club during the 2022-23 academic year.
  • Square footage of incubator or accelerator space available to MBA students during the 2022-23 academic year.

America's labor shortage crisis: Local Houston company’s solution for a thriving future

A Brighter Future

The labor shortage crisis gripping America is not isolated to a particular region; it's a challenge that reverberates from coast to coast.

CNN Business projects that this issue could cost the nation a staggering $1 trillion, while the Manufacturing Institute predicts that 2.1 million jobs will go unfilled. To address this pressing concern, a local Houston company called Innovapptive and its connected workforce platform stands as a beacon of hope to improve productivity and capacity, while also upskilling the digital native worker.

Innovapptive is a provider of a “mobile first '' AI-connected workforce SaaS solution to help companies manage labor shortage by empowering front-line workers with digital tools to boost productivity.

The platform’s integrated suite of apps for both the front-line workers and back-office staff closes the loop between people and assets to eliminate inefficiencies. By connecting the front-line workers and back-office with critical information in real time, and harnessing the potential of generative AI and cutting-edge AI/ML technology trends, Innovapptive is enhancing productivity and upskilling workers for some of the world’s largest brands.

Solving the labor shortage by focusing on productivity

The labor shortage crisis has left industries scrambling for solutions. Rather than simply trying to fill the void with more labor, the focus should be on optimizing the existing workforce.

By enhancing the productivity of front-line workers, companies can not only meet the demands of the market but also reduce the need for additional labor. A connected workforce platform can improve the productivity of the front-line workers by 10% to 20% to help companies do more with less.

Empowering front-line workers with real-time connectivity

Innovapptive's connected workforce platform brings front-line workers, back-office, and assets together by providing them with the right information at the right time.

Operators can simply execute their inspections, rounds, and raise issues. These issues automatically convert into an ERP notification and get pushed to a maintenance technician to close out the open compliance issue, while keeping the operator in the loop in real-time. At the same time, the warehouse is alerted in real-time on the work order priorities and criticality to ensure spare part kits are ready for the technician’s pick up.

This effective communication and collaboration between operators, maintenance, and warehouses is a game-changer for asset intensive companies nationwide. Workers can access essential data and insights instantly, leading to smarter decision-making, quicker problem-solving, and improved operational efficiency.

Recently, Sabert, a sustainable packaging company, launched Innovapptive’s solution and is seeing dramatic improvement in productivity. Click here to watch the video.

Harnessing generative AI and cutting-edge AI/ML technology trends to upskill workers

To achieve dramatic productivity improvements upwards of 20%, companies need to leverage the power of generative AI and AI/ML technology trends.

Innovapptive's platform has launched a beta version of its generative AI capabilities, automating the creation of paper-based inspections, SOPs, and work instructions. Furthermore, the company recently launched a computer vision-based AI/ML inspection solution in partnership with Deloitte.

The solution allows an operator or an inspector to simply take an inspection image and the image is instantly analyzed to predict the condition of the equipment, criticality, and use generative AI to describe the problem to their maintenance teams. By converging technology trends such as cloud, mobile, generative AI, and AI/ML, Innovapptive is streamlining processes and eliminating bottlenecks, resulting in substantial productivity gains.

Furthermore, Innovapptive is expected to launch a video AI/ML technology in FY-24 to rapidly upskill workers. This trend allows employees to access on-demand training materials and instructional videos, reducing the learning curve and increasing proficiency. By facilitating continuous learning and development, companies can adapt to changing demands more effectively.

A brighter future for asset-intensive industries

The labor shortage is a nationwide concern that requires a unified approach. Rather than relying solely on more labor, companies can take advantage of Innovapptive's connected workforce platform to empower front-line workers, connect them in real time, capture critical information efficiently, and harness the power of generative AI and cutting-edge AI/ML technology trends.

This holistic approach not only dramatically improves productivity by 10% to 20% but also reduces the need for additional labor. By embracing video AI/ML technology, businesses can rapidly upskill their workers, ensuring they remain agile and adaptable in the face of evolving challenges. Together, we can build a brighter future for American industries and address the labor shortage crisis more effectively.

Some of the world's largest brands rely on Innovapptive's technology, platforms and software, including:

  • Shell Oil
  • Hess
  • Chevron Phillips Chemical
  • Dominion Energy
  • Jemena
  • Loudoun Water
  • Newmont Mining
  • AkzoNobel
  • Pluspetrol
  • EDF Renewables
  • Sabert
  • LiftOne
  • Par Pacific

Innovapptive is headquartered in Houston with offices across the globe in India, Europe, and Asia-Pacific. To learn more and see what Innovapptive can do for your company, visit here.

Houston park opens new facility amid major transformation project

next step

The latest project from a Houston park that's got an ongoing transformation project underway has revealed its latest new feature.

Memorial Park, Houston’s most popular destination for runners and one of the best trails in Texas, has unveiled its new, state-of-art running complex on November 4. The new facility was first announced in 2019 as a part of the park's master plan redevelopment project, which includes the innovative Land Bridge that opened earlier this year.

Encompassing years in planning and constructing, this new complex features the 400-meter Roy H. Cullen Timing Track, a viewing decks, an event plaza, several gathering spaces, trails, and more. More than a simple running track, the complex is designed to be a central gathering spot for all Memorial Park visitors, notes Memorial Park Conservancy executive director Shellye Arnold. The complex will also serve as new gateway to the park’s Bayou Wilds trails.

This new complex is meant to bring more park visitors to multiple areas of the park, Arnold notes, as well as improve track conditions for the thousands who use it, including Houston Astros and Texans players and Olympians. (Olympic legend Carl Lewis is a frequent user.)

“The old timing track in the park is just worn down and not really that accurate, and it has strange turns and corners,” Arnold tells CultureMap. “The running complex is very fitting for the park and for Houston.”

Credit goes to the game-changing Ten-Year Plan, which turned the Memorial Park Master Plan marathon into a sprint with an accelerated set of projects via catalyst gift from the Kinder Foundation and various donors. Partners include the Houston Parks and Recreation Department, Uptown Development Authority, and Kinder Foundation, and the City of Houston Mayor’s Office.

That mean a new experience not just for runners, joggers, and walkers, but all visitors.

“It’s a microcosm of the park, a place where a lot of people go and train at four or five in the morning,” adds Arnold. “But it’s a gathering place in the woods. If you think about Memorial Park, part of the whole experience is being immersed in nature. And so this particular timing track is really much more nature immersive than the old timing track.”

Community access is also a priority, for adults and kids.

“There are a lot of schools in Houston that don’t have access to a high quality track — or a track at all,” Arnold says. “And so now, their runners can come out and use the track. It won’t be used for meets, because we won’t close it off to the public very often at all. But it’s all about accessibility. Any school in Houston that wants to use it will be able to bring their students out and enjoy it.”

So while running may be the draw, really, it’s the complex is yet another chance to enjoy Memorial Park’s 1,500 acres and 25 miles worth of trails.

“There are places to hang out,” says Arnold. “There will be a cafe that will open up nearby in the first half of 2024 and an event plaza that’s also opening that will be a place to gather or just hang out with a group. Those are some of the many of the reasons that we did this. All the things that we do is to build community and foster a sense of connectedness — and this track will do that.”

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This article originally ran on CultureMap.

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