Venus Aerospace adds government, C-suite leaders following $91M raise

new leaders

The Venus Aerospace team in June. Photo courtesy Venus Aerospace

Fresh off its $91 million Series B, Houston-based Venus Aerospace has made several key additions and promotions to its leadership team.

The company says its expanded team will help it deploy its high-thrust rotating detonation rocket engine (RDRE), which completed its first U.S. flight test last summer.

"We flew the world's first high-thrust RDRE in just over four years on $80 million. We believe that makes it the fastest, most capital-efficient rocket engine program in history," Sassie Duggleby, co-founder and CEO of Venus Aerospace, said in a news release. "Adding this talent to our leadership team is how we bring that same discipline to the company itself, as we scale to meet the technical needs of defense and space customers who need range and speed legacy systems can't deliver."

The key hires include:

Lane Bodian, Vice President of Public Policy

Bodian previously served as the Principal Deputy Assistant Secretary of Defense for Legislative Affairs at the Pentagon.

Dan Rebnord, Director of Federal Government Relations

Rebnord most recently served as Senior Policy Advisor to a member of the Senate Armed Services Committee and previously worked in the Office of Legislative Affairs at the Department of Defense and as Staff Director for a national security subcommittee in the House of Representatives. Rebnord and Bodian will lead Venus' work with government stakeholders.

Tom Barron, Chief Operating Officer

Barron was promoted from his role as vice president of operations for Venus Aerospace. Before his time at Venus, he served as Special Assistant to the Secretary of Defense and consulted aerospace clients at McKinsey & Company. He also served as a U.S. Army Infantry and Special Forces officer.

Nick Cardwell, Chief Product Officer

Cardwell was promoted from his role as vice president of research and development. He previously held product and technology leadership roles at VC-backed tech companies in the San Francisco Bay Area and Austin.

Venus also named Cameron Taylor as its new vice president of operations, Sarah Boland Heine as its head of communications, Matt Stohr as its head of business development, and Sheila Menz as general counsel.

The company also announced a joint technology development agreement to advance the RDRE with defense giant Lockheed Martin last week. Through the partnership, Venus and Lockheed will focus on evaluating the RDRE's propulsion architecture in defense systems, specifically for precision fires applications where weapons are designed to accurately strike targets at long distances.

Lockheed Martin Ventures, the investment arm of the aerospace and defense contractor, is an investor in Venus Aerospace.

"Lockheed Martin is focused on rapidly delivering advanced capabilities that strengthen deterrence and provide decisive advantages for the warfighter," Tim Cahill, president, Lockheed Martin Missiles and Fire Control, said in a news release. "Our collaboration with Venus Aerospace allows us to evaluate a promising propulsion technology and determine how it can be integrated into future precision fires solutions. Efforts like this help accelerate innovation, reduce risk and shorten the path from emerging technology to operational capability."

Venus' RDRE is expected to enable vehicles to travel four to six times the speed of sound from a conventional runway and is about 15 percent more efficient than traditional alternatives, according to the company.

Venus says the reusable, affordable and scalable RDRE is designed with a "common propulsion architecture" that can work for multiple industries and mission types. The company has previously estimated that the hypersonic market is projected to surpass $12 billion by 2030.

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Venus Aerospace has secured funding from Mercury Fund, Lockheed Martin Ventures and others. Photo courtesy Venus Aerospace

Venus Aerospace closes $91 million Series B to scale hypersonic engine

flight funding

Houston-based Venus Aerospace has closed a $91 million Series B round and plans to scale the production of its hypersonic engine.

The round was led by Houston-based Mercury Fund with participation from Lockheed Martin Ventures, MESH, PEAK6, Draper Associates, Starboard Star Venture Capital, Green Sands Equity and other investors, according to a news release.

The investment comes about a year after Venus completed the first U.S. flight test of its high-thrust rotating detonation rocket engine (RDRE). The engine is expected to enable vehicles to travel four to six times the speed of sound from a conventional runway and is about 15 percent more efficient than traditional alternatives, according to the company.

Venus Aerospace says the latest round of funding will allow it to move the RDRE from demonstration to deployment and meet customer requirements for the near-term defense and space industries. The company says that the reusable RDRE is designed with a "common propulsion architecture" that can work for multiple industries and mission types.

“This financing marks an important step in moving Venus from breakthrough demonstration to scaled capability,” Sassie Duggleby, co-founder and CEO, said in the news release. “Our customers need propulsion systems that go farther, can be produced reliably and are built on supply chains they can trust. We are advancing that capability with American engineering and manufacturing talent to strengthen U.S. defense, expand space access and support the future of high-speed flight.”

Venus Aerospace raised a $20 million Series A in 2022, led by Wyoming-based Prime Movers Lab. At the time, the company said it would put the funding toward three main technologies: a next-generation rocket engine, aircraft shape and leading-edge cooling system.

The company also picked up an investment from Lockheed Martin Ventures, the investment arm of aerospace and defense contractor Lockheed Martin, in November 2025—in addition to funding from other investors over the years.

“Since our initial investment, Venus has progressed very quickly in its technology development," Chris Moran, vice president and general manager of Lockheed Martin Ventures, added in the release. "Our reinvestment in Venus recognizes Venus’ accomplishments to date and focus on speed to manufacture, cost management and reduction of supply chain constraints. Venus is working effectively to position its propulsion system for the production scale required by defense programs.”

"Venus is exactly the kind of company Houston capital should be backing," Blair Garrou, co-founder and managing partner at Mercury Fund, added in the release. "It combines multiple frontier technologies, domestic manufacturing and clear commercial and national security relevance. We believe this team is positioned to lead an important new chapter in defense and space, and we are proud to support a company building breakthrough technology here in Texas."

Venus Aerospace and Houston clean tech startup Vaulted Deep were named to the World Economic Forum's Technology Pioneers community earlier this summer. Read more here.

Two Houston startups have been named World Economic Forum Technology Pioneers. Photo courtesy Venus Aerospace

Houston cleantech, space startups named to World Economic Forum cohort

top honor

Two Houston-based startups have been selected to join the World Economic Forum's Technology Pioneers community.

The two-year program aims to help mission-driven, early-stage start-ups scale their innovations through multi-stakeholder initiatives, co-creating partnerships and other gatherings for community members. One-hundred startups are selected each year from around the globe, this year hailing from 23 countries and working in AI, energy, space, biotech markets and more.

Cleantech startup Vaulted Deep was one of 11 energy and climate companies to be named to the cohort. Julia Reichelstein and Omar Abou-Sayed founded the company in 2023. Its technology injects excess organic waste underground to remove carbon dioxide from the atmosphere.

Last year, Vaulted Deep inked a 12-year deal with Microsoft to remove up to 4.9 million metric tons of carbon dioxide from the environment.

The startup has earned several accolades in recent years, including a No. 3 spot on Fast Company’s list of the World’s Most Innovative Companies of 2026. It was also recently named to market intelligence and advisory firm Cleantech Group's annual Global Cleantech 100 list for a second year in a row.

"Waste management is one of the world's great invisible infrastructure systems ... The need for new infrastructure is growing as disposal challenges become more complex and regulations evolve. Vaulted is building the first new disposal pathway for organic waste in decades by putting it deep underground, permanently," the company shared in a LinkedIn post. "This year, we're joining the World Economic Forum's 2026 Tech Pioneers alongside innovators working on the many interconnected challenges shaping our future."

Houston-based Venus Aerospace was also selected to join the cohort, along with six other spacetech companies. The company was founded in 2020 by Sassie and Andrew Duggleby.

The startup specializes in next-generation rocket engine propulsion as a cleaner alternative to traditional combustion engines. The company's rotating detonation rocket engine (RDRE) burns fuel more efficiently and completed a successful high-thrust test flight last year. Venus says it’s the only company in the world that makes a flight-proven, high-thrust RDRE with a “clear path to scaled production.”

"Frontier technologies matter most when they expand what people, industries, and nations can do," Sassie Duggleby, co-founder and CEO of Venus, said in a news release. "For Venus, RDRE does not just represent a more efficient engine. It is a foundation for faster movement, more capable space systems, and new forms of connectivity across the planet. Being named a Technology Pioneer validates the potential of this technology to help shape a future where distance is less limiting."

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This article originally appeared on our sister site, EnergyCapitalHTX.com.

Houston founders Laureen Meroueh, LaToshia Norwood, Sassie Duggleby, Nina Magon, Stephanie Murphy and Lauren Rottet were named to Inc. Magazine's 2026 Female Founders 500. Photos via LinkedIn and company websites

6 Houston entrepreneurs land on coveted Inc. Female Founders 500 list

the future is female

Six Houston female entrepreneurs and innovators were named to the 2026 Female Founders 500 list.

The annual list compiled by Inc. Magazine recognizes female founders based in the U.S. who have built businesses that have moved their industries forward. The group collectively generated approximately $12.3 billion in 2025 revenue and $12.2 billion in funding to date, according to Inc. Five Houstonians were named to the list last year.

"Each year, we are increasingly amazed by the extraordinary leaders on our Inc. Female Founders 500 list," Bonny Ghosh, editorial director at Inc., said in a news release. "The honorees on this year's list include innovators in AI, beauty and wellness trendsetters winning devoted fans, and nonprofit leaders making a real impact in their communities. Together, they're showing all of us what trailblazing female leadership looks like."

The Houston founders are:

Sassie Duggleby, CEO and co-founder of Houston space tech and engine company Venus Aerospace. Duggleby also serves on the Texas Space Commission board of directors.
Stephanie Murphy, CEO and executive chairman of Aegis Aerospace, which provides space services, spaceflight product development, and engineering services. Murphy also serves as chair of the Texas Aerospace Research and Space Economy Consortium Executive Committee.
Laureen Meroueh, CEO and founder of Hertha Metals, which has developed a cost-effective and energy-efficient process that converts low-grade iron ore of any format directly into molten steel or high-purity iron in a single step.
LaToshia Norwood, managing partner of L'Renee & Associates (LRA), a full-service project management consulting firm.
Lauren Rottet, president and founding principal of Rottet Studio, an international architecture and design firm focused on corporate, lifestyle and hospitality projects
Nina Magon, founder and CEO of Nina Magon Studio / Nina Magon Consumer Products, a residential and commercial interior design company. She also co-founded KA Residences earlier this year.

"Grateful to be recognized again on the Inc. Female Founders 500," Duggleby said in a LinkedIn post. "The best part of building Venus Aerospace has been working with an incredible team pushing the boundaries of flight—and helping bring more women into aerospace along the way.

Meroueh, whose company emerged from stealth last year, voiced a similar push for bringing more women into the fold.

"We've seen a 7x jump in female-led IPOs over the last decade, from just two in 2014 (less than 1% of all IPOs) to 14 in 2024 (nearly 9% of all IPOs). Progress is happening," Meroueh shared in a LinkedIn post. "Yet, less than 1% of venture funding in hard tech goes to female-founded companies. But as my friend Ana Kraft says, the right man for the job may be a woman."

Twenty-nine Texas female founders made this list, including Amber Venz Box, founder of the Dallas-based LTK shopping platform, and Cheryl Sew Hoy, CEO and founder of Austin-based Tiny Health, a fast-growing at-home microbiome health platform. See the full list of winners here.

Rice University lands $14M state grant to open Center for Space Technologies

on a mission

Rice University’s Space Institute soon will be home to the newly created Center for Space Technologies.

On Feb. 17, the Texas Space Commission approved a nearly $14.2 million grant for the Rice project. The Center for Space Technologies will target:

Research and development
Technology transfer and innovation
Statewide partnerships
Workforce development training
Space-focused education programs

The goal of the new center “is to fulfill an articulated need for research, workforce development, and industry collaboration,” said Kemah communications and marketing executive Gwen Griffin, chair of the commission.

State Rep. Greg Bonnen, a Friendswood Republican, authored the bill that set up the Texas Space Commission.

Since being authorized in 2023, the commission has funded 24 projects, with Rice and Houston-area companies accounting for nearly $75 million in grants to back space-related initiatives.

The grant to Rice brings the TSC's total investment to $150 million, fully committing the entire state appropriation from the Texas Legislature in 2023.

Other local companies that have received grants over the years include Aegis Aerospace, Axiom Space, Intuitive Machines, Starlab Space and Venus Aerospace.

The commission also awarded $7 million to Blue Origin earlier this month. See a list of the 24 awards here.

Kodiak Robotics unveiled its driverless semi-truck technology this month, which is expected to hit Texas roads later this year. Photo via Kodiak

Autonomous truck co. goes public and more innovation news to know

Trending News

Editor's note: It's time to catch up on the top Houston innovation news for the first half of November. From major investments to a big boost in dementia research, here are the most-read InnovationMap stories from Nov. 1-15, 2025:

1. Autonomous truck company with Houston routes goes public

Kodiak Robotics has formed Kodiak AI, whose stock now trades on the Nasdaq market. Photo via kodiak.ai.

Kodiak Robotics, a provider of AI-powered autonomous vehicle technology, has gone public through a SPAC merger and has rebranded as Kodiak AI. The company operates trucking routes to and from Houston, which has served as a launchpad for the business. Privately held Kodiak, founded in 2018, merged with a special purpose acquisition company — publicly held Ares Acquisition Corp. II — to form Kodiak AI, whose stock now trades on the Nasdaq market. Continue reading.

2. Venus Aerospace picks up investment from Lockheed Martin Ventures

Lockheed Martin Ventures says it's committed to helping Houston-based Venus Aerospace scale its technology. Photo courtesy Venus Aerospace

Venus Aerospace, a Houston-based startup specializing in next-generation rocket engine propulsion, has received funding from Lockheed Martin Ventures, the investment arm of aerospace and defense contractor Lockheed Martin, for an undisclosed amount. The product lineup at Lockheed Martin includes rockets. The investment follows Venus’ successful high-thrust test flight of its rotating detonation rocket engine (RDRE) in May. Venus says it’s the only company in the world that makes a flight-proven, high-thrust RDRE with a “clear path to scaled production.” Continue reading.

3. America's first Ismaili Center set to open in Houston in December

Nearly 20 years in the making, The Ismaili Center, Houston, opens in December 2025. Photo by Iwan Baan

The long-awaited Ismaili Center, Houston is set to open to the public next month. The 11-acre site has been painstakingly designed and constructed to offer indoor and outdoor public spaces for Houstonians to enjoy, connect, and engage. As the only Ismaili Center in the United States — and seventh in the world — it joins its international communities in London, Vancouver, Lisbon, Dubai, Dushanbe, and Toronto. Community welcome events are scheduled for December 12 and 13, but, until then, here are 10 features and things to know about the Ismaili Center, Houston. Continue reading.

4. Texas voters OK $3 billion for new dementia research institute

Thanks to the passage of Proposition 14, Texas now boasts the country’s largest state-funded initiative dedicated to dementia research and prevention. Photo via Unsplash.

Texas voters on Nov. 4 overwhelmingly approved a ballot measure that provides $3 billion in state funding over a 10-year span for the newly established Dementia Prevention and Research Institute of Texas (DPRIT). Thanks to the passage of Proposition 14, Texas now boasts the country’s largest state-funded initiative dedicated to dementia research and prevention, according to the Alzheimer’s Association. Up to $300 million in grants will be awarded during the 10-year funding period. Continue reading.

5. 2025 Houston Innovation Awards winners revealed at annual event

2025 Houston Innovation Awards winners revealed at annual eventThe 2025 Houston Innovation Awards winners have been revealed. Courtesy photo

After weeks of anticipation, the 2025 Houston Innovation Awards winners have been revealed. Finalists, judges, and VIPs from Houston's vibrant innovation community gathered on Nov. 13 at Greentown Labs for the fifth annual event. This year, the Houston Innovation Awards recognized more than 40 finalists, with winners unveiled in 10 categories. Continue reading.

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Houston researchers develop dissolvable implant for targeted cancer drug delivery

cancer research

Researchers at Houston Methodist have developed a biodegradable implant that can be used to safely and consistently deliver drug treatments to tumors and then dissolve without the need for further surgery.

The implant is only the size of a grain of rice, but its potential is staggering. The biodegradable nanofibrous drug-eluting seed (b-NDES) works as a reservoir parked inside a soft tumor, where it can slowly release immune-stimulating drugs over time. This overcomes a consistent problem with drugs such as immune checkpoint inhibitors. Normal systemic administration sees comparatively little of the drug making its way to the tumor, with most of it circulating throughout the body. The b-NDES is like deploying a small guerrilla fighting force embedded in enemy territory, doing maximum damage to the entrenched tumor.

"To improve cancer treatment, we're trying to start a fire inside the tumor itself," Corrine Chua, associate professor in the Center for BioNanoengineering at Houston Methodist Research Institute, said in a news release. "By activating immune cells directly within the tumor microenvironment, those cells can then travel throughout the body and seek out cancer wherever it exists. The b-NDES platform was developed to help keep therapeutic drugs concentrated inside tumors while minimizing exposure to healthy tissues.”

Chua co-led the study with Alessandro Grattoni, chair and director of the Center for BioNanoengineering at Houston Methodist Research Institute.

The study included support from the Nancy Owens Breast Cancer Foundation and the National Institutes of Health/National Cancer Institute.

Chau and Grattoni used preclinical models of triple-negative breast cancer, an aggressive form of cancer that is estrogen receptor-negative, progesterone receptor-negative and HER2-negative. Because of the receptor negativity, some popular treatments like tamoxifen and trastuzumab are ineffective. Chemotherapy has been shown to be the best course of action.

The b-NDES implant is deployed alongside radiation drugs. It keeps the drugs focused on the tumor, reducing the amount of harmful side effects typically seen when drugs are circulated more widely in the body. In 60 percent of the models, tumors were eliminated and did not cause side effects beyond the tumor site. Once the drugs have been deployed, the implant breaks down naturally.

While promising, more research will have to be done to expand use to other tumor types.

"Although the study focused on triple-negative breast cancer models, the approach could have broader applications for solid tumors," Grattoni added in the release. "It could potentially be used in cancers where there is a tumor lesion accessible for placement, including pancreatic or lung cancers."

New Houston platform Same Day Reels launches for on-demand content creation

In The Moment

If an event doesn't happen on Instagram, did it even really happen? In today's social media-driven age of branding and audience engagement, the answer increasingly is no.

Houston entrepreneur Karen De Amat is looking to fill the online content creation needs of companies with her new venture, Same Day Reels, which launched in early August. It will serve as a platform to connect companies and brands with talent that can help turn an event into a viral moment as it is happening.

"Events move quickly, and social media moves even faster,” said De Amat. “Same Day Reels was built to help brands capture the moment while it still matters. We are creating a more efficient way for businesses and creators to work together. Brands need content faster, and creators need more opportunities to turn their talent into real work. Same Day Reels brings those needs together.”

The company is focused on adding livestreams and concurrent short video content to "activations, launches, fundraisers, grand openings, conferences, hospitality experiences, and private celebrations." Such content can significantly increase the visibility of a product or brand according to digital marketing brands like Wyzowl, whose data found 63 percent of people in 2026 prefer to learn about new products via short video.

Packages offered by Same Day Reels will include filming, editing, and publishing content within hours of the targeted event.

De Amat says that her content creation platform will be a way to preserve the excitement of events and launches by enshrining them with immediate social media-driven memories.

“Event content is no longer just something you post after the fact,” De Amat said. “It is part of how people experience, remember and share the moment.”

Previously, De Amat is also the founder and CEO of Social Behavior, an influencer marketing company she launched from her home in 2014. It quickly garnered an array of clients and thrust De Amat into the spotlight, including numerous appearances on Fox 26's The Isiah Factor. Influencer Marketing Hub named her one of the top CEOs of influencer marketing companies in Houston in 2025.

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This article originally appeared on CultureMap.com.

Bristol Myers Squibb to build $2.3B Houston pharma manufacturing campus

coming soon

New Jersey-based pharmaceutical giant Bristol Myers Squibb Co. has officially named Houston as the home of its new state-of-the-art manufacturing site.

The 60,000-square-foot facility represents a $2.3 billion investment, according to a news release. It is expected to create 500 skilled jobs and will be located in Houston's Generation Park.

BMS first announced that it was considering Houston among 16 other cities for the facility in May. The new hub will manufacture small molecule, biologic and antibody-drug conjugates and is part of a $40 billion commitment to invest in the United States over five years. Construction is slated to begin next year, with the facility coming online in 2030.

"We're building the domestic manufacturing capabilities needed to deliver the next generation of medicines and support future scientific breakthroughs. Houston and the state of Texas offer the talent, infrastructure, and partnership needed to help bring that vision to life," Christopher Boerner, CEO and board chair of BMS, said in the release.

The new facility will feature a modular, multi-modal design, which will allow the company to reconfigure and add to its manufacturing capabilities over time. BMS says it expects the facility to "(grow) in scale and capability well beyond its opening configuration."

"Our decision to build this state-of-the-art manufacturing campus in Houston, Texas, reflects our confidence in the region’s ability to support a world-class, digitally advanced supply operation,” Karin Shanahan, EVP and chief supply chain and operations officer of BMS, added in the release. “This facility is designed to deliver the speed, quality, and reliability that patients depend on, combining flexible, modular manufacturing with advanced digital capabilities to ensure consistent supply across multiple modalities. It strengthens our ability to operate with resilience and positions us to reliably deliver medicines to patients today while adapting future demands.”

Texas Gov. Greg Abbott shared that the state has granted BMS a $4.89 million Texas Enterprise Fund (TEF) grant for the project. TEF grants, administered by the Texas Economic Development & Tourism Office, support business relocation or expansion projects that create "new, good-paying jobs in the community and attract significant new capital investment to the state." The development is also a qualified project under the Texas Jobs, Energy, Technology, and Innovation (JETI) program.

“Texas is a global hub for life sciences, where today’s innovations shape the future of healthcare,” Abbott said in a news release. “This $2.3 billion investment by Bristol Myers Squibb in the dynamic biotech ecosystem in Houston is a testament to the depth of our skilled workforce and the pipeline of talent coming through our nation-leading technical colleges and research universities. With lower operating costs and easy access to markets across the U.S. and the world, Texas drives affordability for consumers.”

"Bristol Myers Squibb’s announcement is a tremendous win for Texas and the Houston region, further reinforcing our position as a premier destination for life sciences and advanced manufacturing,” added Greater Houston Partnership President and CEO Steve Kean.

Last fall, Eli Lilly and Co. selected Generation Park, a 4,300-acre, master-planned commercial district near Lake Houston, for its $6.5 billion manufacturing plant. More than 300 locations in the U.S. competed for the factory. Read more here.

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