Houston biotech VC firm's portfolio cos. score $5.3M in federal funding

money moves

Three of First Bight Venture's portfolio companies have secured federal funding. Photo via Getty Images

Three portfolio companies of Houston venture capital firm First Bight Ventures have received a combined $5.25 million from the U.S. Defense Department’s Distributed Bioindustrial Manufacturing Program.

“The allocation of funds by the federal government will be critical in helping grow biomanufacturing capacity,” Veronica Breckenridge (née Wu), founder of First Bight, says in a news release. “We are very proud to represent three dynamic companies that are awardees of this competitive and widely praised program.”

The three companies that were awarded Defense Department funds are:

  • Hayward, California-based Visolis, received $2.25 million to plan a facility for production of a chemical that can be transformed into rocket propellants, explosive binders, and sustainable aviation fuel.
  • Alameda, California-based Industrial Microbes received $1.55 million to plan a facility for converting ethanol feedstock into acrylic acid. This acid is a key component used in coatings, adhesives, sealants, lubricants, corrosion inhibitors, and wound dressings.
  • San Diego-based Algenesis received $1.5 million to plan and develop a facility that’ll produce diisocyanates, which are chemical building blocks used to make polyurethane products.

“This award is a testament to our commitment to advancing sustainable materials and will enable us to contribute to both national security and industrial resilience. Our planned facility represents a key step towards securing a domestic supply of critical components for polyurethanes,” says Stephen Mayfield, CEO of Algenesis.

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Calling all biotechnology startups. Photo via Getty Images

Houston organization launches virtual accelerator, seeks 10 biotech startups

calling for applicants

A Houston organization — freshly funded by a $700,000 U.S. Economic Development Administration’s “Build to Scale” grant — is seeking its first accelerator cohort of industrial biology startups.

Founded by Houston-based First Bight Ventures, the BioWell has launched a virtual accelerator program that will provide programming, networking, mentorship, and financial resources to its inaugural cohort of 10 bioindustrial startups. The selected companies will also have access to specialized pilot bioproduction infrastructure throughout the nine-month program.

“BioWell equips startups with more than just capital. We provide a foundation for breakthrough innovations by combining access to cutting-edge bioproduction facilities with expertise that nurtures scalability. This comprehensive support is crucial for transforming pioneering ideas into market-ready solutions that can address pressing global challenges,” Carlos Estrada, head of venture acceleration at BioWell, says in a news release.

Applications for the program are open until May 15, and the cohort will be announced in June. Specifically, BioWell is seeking seed or pre-seed startup applicants that have a technology readiness level of 3 to 5, focusing on areas including low-cost and sustainable feedstocks, commercially viable yields, and purpose fit microbes.

“During our selection process, we'll prioritize startups that demonstrate a commitment to not only hitting milestones but also to building sustainable revenue streams for long-term survival. This phase necessitates keen awareness of market dynamics, customer demands, and sound financial management,” adds First Bight Ventures and BioWell Founder Veronica Wu.

In December, BioWell secured $741,925 of the $53 million doled out as a part of the "Build to Scale" Grant program that the U.S. Economic Development Administration, a division of the U.S. Department of Commerce, has established. First Bight was one of 60 organizations to receive funding.

Ex-Apple exec Wu founded First Bight Ventures in Houston in 2022 after relocating from Silicon Valley and seeing the region's potential for biotech.

This week's roundup of Houston innovators includes Moji Karimi of Cemvita Factory, Thomas Vassiliades of BiVACOR, and Veronica Wu of First Bight Ventures. Photos courtesy

3 Houston innovators to know this week

who's who

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries recently making headlines in Houston across biotech and medical device.

Moji Karimi, co-founder and CEO of Cemvita

Moji Karimi joins the Houston Innovators Podcast to share how Cemvita has evolved with three distinct lines of energy transition businesses. Photo courtesy of Digital Wildcatters

A lot has changed since Moji Karimi co-founded his biotech company Cemvita with his sister Tara in 2017. In fact, a lot has changed just in 2023 — for Cemvita, for the energy transition, and for world as a whole.

In the past year, Cemvita has evolved its business to target three verticals, all within the company's mission of using synthetic biology to create solutions for the energy transition. Now, as Karimi explains on the Houston Innovators Podcast, Cemvita is a startup of startups.

While tackling the various verticals might seem ambitious, Karimi explains that they are all aligned with Cemvita's core mission and technology.

"If you think about it, everything we're doing has something to do with nature," he says on the show. "Environmental microbiology, biotech, and synthetic biology — it's now available, and we have the tools to do it. We want to be the company that goes and finds those applications and translates it from the idea and the science to the technology, and then scale it up into the engineer solution." Continue reading.


Thomas Vassiliades, CEO of BiVACOR

Led by CEO Thomas Vassiliades, a former heart surgeon, BiVACOR is based on a system of magnetic levitation. Photo courtesy

A Houston company with a breakthrough heart health tech has received a green light from the FDA.

BiVACOR, a Houston-headquartered medical device company, has received FDA approval for its Total Artificial Heart (BTAH) IDE first-in-human early feasibility study (EFS). The BTAH device itself is designed to take over all function for patients with heart failure. The BTAH is roughly the size of a human fist, which means that, while it could support an active adult male, it may also fit many women and children.

Led by CEO Thomas Vassiliades, a former heart surgeon, BiVACOR is based on a system of magnetic levitation.

“Our pump is just one moving impeller that sits in the middle of the housing where the blood is. Imagine an artificial heart — the container that has your blood — and the device spinning in the inside — basically a wheel spinning your blood to the rest of your body. The device is suspended by magnets — it's not touching anything,” Vassiliades told InnovationMap in a podcast earlier this year. Continue reading.

Veronica Wu, founder of First Bight Ventures

First Bight Venture's BioWell has received a $741,925 grant to continue supporting bioindustrial startups. Photo courtesy

A Houston-based nonprofit accelerator that works with early-stage synthetic biology startups has secured nearly $750,000 to support its mission.

First Bight Ventures' accelerator, BioWell, secured $741,925 of the $53 million doled out as a part of the "Build to Scale" Grant program that the U.S. Economic Development Administration, a division of the U.S. Department of Commerce, has established. First Bight was one of 60 organizations to receive funding.

The funding will support the BioWell's mission to establish a "vibrant bioeconomy" by helping startups scale and commercialize "through access to a unique combination of pilot bioproduction infrastructure," according to a news release from First Bight.on.

"Often times, early-stage startups gain momentum and hit important milestones, but ultimately find themselves heading toward the 'Valley of Death,' where progress is made on their enterprise, but no sufficient revenue is generated for the company's stability and longevity," Wu says in the release. "This 'Build to Scale' program's support will help offset these inevitable challenges in our bio-industrial space." Continue reading.

First Bight Venture's BioWell has received a $741,925 grant to continue supporting bioindustrial startups. Photo via Getty Images

Houston nonprofit accelerator receives grant funding to advance bioindustrial startups

funds granted

A Houston-based nonprofit accelerator that works with early-stage synthetic biology startups has secured nearly $750,000 to support its mission.

First Bight Ventures' accelerator, BioWell, secured $741,925 of the $53 million doled out as a part of the "Build to Scale" Grant program that the U.S. Economic Development Administration, a division of the U.S. Department of Commerce, has established. First Bight was one of 60 organizations to receive funding.

The funding will support the BioWell's mission to establish a "vibrant bioeconomy" by helping startups scale and commercialize "through access to a unique combination of pilot bioproduction infrastructure," according to a news release from First Bight.

"Startups at BioWell will gain access to a robust ecosystem, expertise, mentorship, and financial resources essential for successfully commercializing their bio-industrial innovations," BioWell Executive Director Paul Palmer says in the release.

The BioWell is still working toward establishing a physical space and has worked out of the East End Maker Hub in the meantime. The organization has partnered with Urban Partnerships Community Development Corporation, or UP CDC, which led the application process on this federal grant.

"BioWell chose to partner with UP CDC for the EDA grant, to continue the successful model that UP CDC has created at the East End Maker Hub for advanced manufacturing. UP CDC looks forward to continuing our partnership with BioWell in the UP CDC's BioCity project that will position Houston at the forefront of bio-manufacturing," UP CDC's CEO Patrick Ezzell says in the release.

First Bight Ventures Founder Veronica Wu established the BioWell to target high-potential startups, which usually have to overcome lack of funding challenges early on.

"Often times, early-stage startups gain momentum and hit important milestones, but ultimately find themselves heading toward the 'Valley of Death,' where progress is made on their enterprise, but no sufficient revenue is generated for the company's stability and longevity," Wu says in the release. "This 'Build to Scale' program's support will help offset these inevitable challenges in our bio-industrial space."

She shares more about her mission for First Bight Ventures on the Houston Innovators Podcast. Listen to the interview from March below.

This week's roundup of Houston innovators includes Veronica Wu of First Bight Ventures, Lydia Davies of TEAMATES, and Liz Dennett of Cemvita. Photos courtesy

3 Houston innovators to know this week

who's who

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from synthetic biology to consumer app development — recently making headlines in Houston innovation.

Veronica Wu, founder of First Bight Ventures

Veronica Wu, founder of First Bight Ventures, joins the Houston Innovators Podcast to outline Houston's opportunities in synthetic biology and biomanufacturing. Photo courtesy

Houston has all the ingredients to lead biomanufacturing — but it needs one thing: The BioWell. Veronica Wu, founder of First Bight Ventures, introduced her plans for The BioWell last month. It aims to be a public-private partnership that aims to provide access to pilot and lab space, mentorship and programming, and more support that biomanufacturing innovators critically need.

"The way we envision The BioWell is it will provide a holistic, curated support for startups to be able to get across the Valley of Death," Wu says, explaining that startups transitioning from research and development into commercialization need extra support. The BioWell will provide that, as well as allow more engagement from corporations, investors, and other players.

Now that her plans for The BioWell have been announced, Wu is looking for those who want to be a part of it. Read more.

Lydia Davies, founder of TEAMATES

At the end of the day, Lydia Davies created her app to inspire new connections and fun activities. Photo courtesy of TEAMATES

Lydia Davies had an idea for an app that would allow golfers to connect when traveling or on nice weekends when other friends might not be free, and, amid peak COVID-19 shutdown times, she cranked out her early concept and design.

"I started building the app right then and there in this tornado of noise and chaos, and it kind of just became my sanity in that early COVID time because I had something to work on and build," Davies says on this week's episode of the Houston Innovators Podcast.

The idea turned into TeeMates, which launched in 2021 and focused on golf exclusively, and evolved into the TEAMATES App, the current platform that now has a growing selection of sports and activities for users to sync up with others on. Read more.

Liz Dennett, CTO of Cemvita

Cemvita has some news regarding its C-level execs. Photo courtesy of Cemvita

Cemvita, which is working with energy companies to decarbonize their operations has, has named a new CTO. Liz Dennett has been hired for the role, replacing Co-Founder Tara Karimi, who's transition to chief science officer.

As CTO, Dennett will lead the development of Cemvita's unique biotech products that tap into microbes to decarbonize operations on energy plants. Most recently, Dennett was vice president of data architecture and data engineering at Wood Mackenzie. She previously worked in tech and sustainability-focused roles at Hess Corp., Biota Technology, and Amazon Web Services.

“Working with biological systems presents a unique challenge but also a unique opportunity," says Dennett in the release. "It’s uniquely difficult to go from benchtop to in-situ reactors or oil wells with microbes and to achieve the kind of incredible results that we’re seeing in the lab. You need to build teams with deep specializations in chemistry, biology, energy systems, and geology.” Read more.

Veronica Wu, founder of First Bight Ventures, joins the Houston Innovators Podcast to outline Houston's opportunities in synthetic biology and biomanufacturing. Photo courtesy

Investor advocates now is the time to position Houston as a leading biomanufacturing hub

houston innovators podcast episode 178

Houston has all the ingredients to be a successful synthetic biology hub, says Veronica Wu. She believes so strongly in this that she relocated to Houston from Silicon Valley just over a year ago to start a venture capital firm dedicated to the field. Since then, she's doubled down on her passion for Houston leading in biotech — especially when it comes to one uniquely Houston opportunity: biomanufacturing.

While Houston's health care innovation scene is actively deploying synthetic biology applications, Wu points to Houston-based Solugen, a plant-based chemical producer, as an example of what Houston has to offer at-scale industrial biomanufacturing. Houston has the workforce and the physical space available for more of these types of biomanufacturing plants, which have a huge potential to move the needle on reducing carbon emissions.

"This is really fundamental technology that's going to change the paradigm and whole dialogue of how we are making a significant impact in reducing a carbon footprint and improving sustainability," says Wu, founder and managing partner of First Bight Ventures, on the Houston Innovators Podcast.

Several aspects — government funding, corporate interest, advances in technology — have converged to make it an ideal time for synthetic biology innovators and investors, Wu explains on the show, and she has an idea of what Houston needs to secure its spot as a leader in the space: The BioWell.

First introduced at a Houston Tech Rodeo event at the Texas Medical Center's Innovation Factory, The BioWell is a public-private partnership that aims to provide access to pilot and lab space, mentorship and programming, and more support that biomanufacturing innovators critically need.

"The way we envision The BioWell is it will provide a holistic, curated support for startups to be able to get across the Valley of Death," Wu says, explaining that startups transitioning from research and development into commercialization need extra support. The BioWell will provide that, as well as allow more engagement from corporations, investors, and other players.

Now that her plans for The BioWell have been announced, Wu is looking for those who want to be a part of it.

She shares more about her mission and what's next for First Bight Ventures on the podcast. Listen to the interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.

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

by the numbers

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

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

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

Not surprisingly, the Austin area clobbered Houston and DFW.

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

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

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

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

Here are 3 Houston innovators to know right now

Innovators to Know

Editor's note: These Houston innovators are making big strides in the fields of neurotechnology, neurodevelopmental diagnosis, and even improving the way we rest and recharge.

For our latest roundup of Innovators to Know, we meet a researcher who is working with teams in Houston and abroad to develop an innovative brain implant; a professor who has created an AI approach to diagnosis; and a local entrepreneur whose brand is poised for major expansion in the coming years.

Jacob Robinson, CEO of Motif Neurotech

Houston startup Motif Neurotech has been selected by the United Kingdom's Advanced Research + Invention Agency (ARIA) to participate in its inaugural Precision Neurotechnologies program. The program aims to develop advanced brain-interfacing technologies for cognitive and psychiatric conditions. Three Rice labs will collaborate with Motif Neurotech to develop Brain Mesh, which is a distributed network of minimally invasive implants that can stimulate neural circuits and stream neural data in real time. The project has been awarded approximately $5.9 million.

Motif Neurotech was spun out of the Rice lab of Jacob Robinson, a professor of electrical and computer engineering and bioengineering and CEO of Motif Neurotech.

Robinson will lead the system and network integration and encapsulation efforts for Mesh Points implants. According to Rice, these implants, about the size of a grain of rice, will track and modulate brain states and be embedded in the skull through relatively low-risk surgery. Learn more.

Dr. Ryan S. Dhindsa, Dhindsa Lab

Dr. Ryan S. Dhindsa, assistant professor of pathology and immunology at Baylor and principal investigator at the Jan and Dan Duncan Neurological Research Institute at Texas Children’s Hospital, and his team have developed an artificial intelligence-based approach that will help doctors to identify genes tied to neurodevelopmental disorders. Their research was recently published the American Journal of Human Genetics.

Dhindsa Lab uses “human genomics, human stem cell models, and computational biology to advance precision medicine.” The diagnoses that stem from the new computational tool could include specific types of autism spectrum disorder, epilepsy and developmental delay, disorders that often don’t come with a genetic diagnosis.

“Although researchers have made major strides identifying different genes associated with neurodevelopmental disorders, many patients with these conditions still do not receive a genetic diagnosis, indicating that there are many more genes waiting to be discovered,” Dhindsa says. Learn more.

Khaliah Guillory, Founder of Nap Bar

From nap research to diversity and inclusion, this entrepreneur is making Houston workers more productiveFrom opening Nap Bar and consulting corporations on diversity and inclusion to serving the city as an LGBT adviser, Khaliah Guillory is focused on productivity. Courtesy of Khaliah Guillory

Khalia Guillory launched her white-glove, eco-friendly rest sanctuary business, Nap Bar, in Houston in 2019 to offer a unique rest experience with artificial intelligence integration for working professionals, entrepreneurs and travelers who needed a place to rest, recharge and rejuvenate.

Now she is ready to take it to the next level, with a pivot to VR and plans to expand to 30 locations in three years.

Guillory says she’s now looking to scale the business by partnering with like-minded investors with experience in the wellness space. She envisions locations at national and international airports, which she says offer ripe scenarios for patrons needing to recharge. Additionally, Guillory wants to build on her initial partnership with UT Health by going onsite to curate rest experiences for patients, caregivers, faculty, staff, nurses and doctors. Colleges also offer an opportunity for growth. Learn more.

United breaks ground on $177 million facility and opens tech center at IAH

off the ground

United Airlines announced new infrastructure investments at George Bush Intercontinental Airport as part of the company’s ongoing $3.5 billion investment into IAH.

United broke ground on a new $177 million Ground Service Equipment (GSE) Maintenance Facility this week that will open in 2027.

The 140,000-square-foot GSE facility will support over 1,800 ground service vehicles and with expansive repair space, shop space and storage capacity. The GSE facility will also be targeted for LEED Silver certification. United believes this will provide more resources to assist with charging batteries, fabricating metal and monitoring electronic controls with improved infrastructure and modern workspaces.

Additionally, the company opened its new $16 million Technical Operations Training Center.

The center will include specialized areas for United's growing fleet, and advanced simulation technology that includes scenario-based engine maintenance and inspection training. By 2032, the Training Center will accept delivery of new planes. This 91,000-square-foot facility will include sheet metal and composite training shops as well.

The Training Center will also house a $6.3 million Move Team Facility, which is designed to centralize United's Super Tug operations. United’s IAH Move Team manages over 15 Super Tugs across the airfield, which assist with moving hundreds of aircraft to support flight departures, remote parking areas, and Technical Operations Hangars.

The company says it plans to introduce more than 500 new aircraft into its fleet, and increase the total number of available seats per domestic departure by nearly 30%. United also hopes to reduce carbon emissions per seat and create more unionized jobs by 2026.

"With these new facilities, Ground Service Equipment Maintenance Facility and the Technical Operations Training Center, we are enhancing our ability to maintain a world-class fleet while empowering our employees with cutting-edge tools and training,” Phil Griffith, United's Vice President of Airport Operations, said in a news release. “This investment reflects our long-term vision for Houston as a critical hub for United's operations and our commitment to sustainability, efficiency, and growth."

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