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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Rice University professor earns $550k NSF award for wearable imaging tech​

science supported

Another Houston scientist has won one of the highly competitive National Science Foundation (NSF) CAREER Awards.

Lei Li, an assistant professor of electrical and computer engineering at Rice University, has received a $550,000, five-year grant to develop wearable, hospital-grade medical imaging technology capable of visualizing deep tissue function in real-time, according to the NSF. The CAREER grants are given to "early career faculty members who demonstrate the potential to serve as academic models and leaders in research and education."

“This is about giving people access to powerful diagnostic tools that were once confined to hospitals,” Li said in a news release from Rice. “If we can make imaging affordable, wearable and continuous, we can catch disease earlier and treat it more effectively.”

Li’s research focuses on photoacoustic imaging, which merges light and sound to produce high-resolution images of structures deep inside the body. It relies on pulses of laser light that are absorbed by tissue, leading to a rapid temperature rise. During this process, the heat causes the tissue to expand by a fraction, generating ultrasound waves that travel back to the surface and are detected and converted into an image. The process is known to yield more detailed images without dyes or contrast agents used in some traditional ultrasounds.

However, current photoacoustic systems tend to use a variety of sensors, making them bulky, expensive and impractical. Li and his team are taking a different approach.

Instead of using hundreds of separate sensors, Li and his researchers are developing a method that allows a single sensor to capture the same information via a specially designed encoder. The encoder assigns a unique spatiotemporal signature to each incoming sound wave. A reconstruction algorithm then interprets and decodes the signals.

These advances have the potential to lower the size, cost and power consumption of imaging systems. The researchers believe the device could be used in telemedicine, remote diagnostics and real-time disease monitoring. Li’s lab will also collaborate with clinicians to explore how the miniaturized technology could help monitor cancer treatment and other conditions.

“Reducing the number of detection channels from hundreds to one could shrink these devices from bench-top systems into compact, energy-efficient wearables,” Li said in the release. “That opens the door to continuous health monitoring in daily life—not just in hospitals.”

Amanda Marciel, the William Marsh Rice Trustee Chair of chemical and biomolecular engineering and an assistant professor at Rice, received an NSF CAREER Award last year. Read more here.

Houston Spaceport launches $12M expansion for leading space tech co.

to the moon

Houston will get one step closer to the moon, as the Houston Spaceport at Ellington Airport (EFD) has announced an expansion of the lease for Intuitive Machines, the Houston space tech leader dedicated to furthering lunar exploration.

On July 15, the City of Houston announced passage of Amendment 1, which would add three acres of commercial space for Intuitive Machines at the spaceport and a $12 million infrastructure expansion. Approved by the city council and Mayor John Whitmire, the expansion will include new production, testing and support facilities. The amendment extends the current lease for Intuitive Machines from 20 years to 25 years.

"I want to shout out to Intuitive Machines about everything they’re doing at the Houston Spaceport. It’s exciting to see them expand. We’re starting to reach a critical mass out there — more and more aerospace companies want to be at the Spaceport because that’s where innovation is happening,” said Fred Flinkinger, who represents District E on the Houston City Council. “It’s a great sign of momentum, and we’re proud to have them here in Houston."

Intuitive Machines was the first commercial tenant for the Houston Spaceport when it moved into the facility in August 2016. Founded by Stephen Altemus, Kam Ghaffarian, and Tim Crain in 2013, the company holds three contracts with the National Aeronautics and Space Administration (NASA) to deliver payloads to the lunar surface. In 2023, the company opened its doors in Houston with a 105,572-square-foot Lunar Production and Operations Center that contains research and development labs, clean rooms, mission control centers, and a spacecraft assembly floor.


Intuitive Machines landed Odysseus on the moon in February 2024, the first privately owned soft lunar landing ever and the first soft landing since 1972.

The Houston Spaceport is owned and operated by the City of Houston and Houston Airports, who have an eye of keeping the city a prime name in space exploration. As "Houston" was the first word spoken on the moon when Apollo 11 landed in 1969, lunar exploration in particular has a soft place in the heart of the metropolis formerly known as Space City.

“This agreement reinforces Houston’s leadership in space innovation,” said Jim Szczesniak, director of aviation for Houston Airports. “We’re building infrastructure and supporting the next era of lunar and deep space exploration, right here at Houston Spaceport. This partnership represents the forward-thinking development that fuels job creation and drives long-term economic growth.”

Houston hardtech accelerator names 8 scientists to 2025 cohort

ready, set, activate

National hardtech-focused organization Activate has named its 2025 cohort of scientists, which includes new members to Activate Houston.

The Houston hub was introduced last year, and joins others in Boston, New York, and Berkley, California—where Activate is headquartered. The organization also offers a virtual and remote cohort, known as Activate Anywhere. Collectively, the 2025 Activate Fellowship consists of 47 scientists and engineers from nine U.S. states.

This year's cohort comprises subject matter experts across various fields, including quantum, robotics, biology, agriculture, energy and direct air capture.

Activate aims to support scientists at "the outset of their entrepreneurial journey." It partners with U.S.-based funders and research institutions to support its fellows in developing high-impact technology. The fellows receive a living stipend, connections from Activate's robust network of mentors and access to a curriculum specific to the program for two years.

“Science entrepreneurship is the origin story of tomorrow’s industries,” Cyrus Wadia, CEO of Activate, said in an announcement. “The U.S. has long been a world center for science leadership and technological advancement. When it comes to solving the world’s biggest challenges, hard-tech innovation is how we unlock the best solutions. From infrastructure to energy to agriculture, these Activate Fellows are the bold thinkers who are building the next generation of science-focused companies to lead us into the future.”

The Houston fellows selected for the 2025 class include:

  • Jonathan Bessette, founder and CEO of KIRA, which uses its adaptive electrodialysis system to treat diverse water sources and reduce CO2 emissions
  • Victoria Coll Araoz, co-founder and chief science officer of Florida-based SEMION, an agricultural technology company developing pest control strategies by restoring crops' natural defenses
  • Eugene Chung, co-founder and CEO of Lift Biolabs, a biomanufacturing company developing low-cost, nanobubble-based purification reagents. Chung is completing his Ph.D. in bioengineering at Rice University.
  • Isaac Ju, co-founder of EarthFlow AI, which has developed an AI-powered platform for subsurface modeling, enabling the rapid scaling of carbon storage, geothermal energy and lithium extraction
  • Junho Lee, principal geotechnical engineer of Houston-based Deep Anchor Solutions, a startup developing innovative anchoring systems for floating renewables and offshore infrastructure
  • Sotiria (Iria) Mostrou, principal inventor at Houston-based Biosimo Chemicals, a chemical engineering startup that develops and operates processes to produce bio-based platform chemicals
  • Becca Segel, CEO and founder of Pittsburgh-based FlowCellutions, which prevents power outages for critical infrastructure such as hospitals, data centers and the grid through predictive battery diagnostics
  • Joshua Yang, CEO and co‑founder of Cambridge, Massachusetts-based Brightlight Photonics, which develops chip-scale titanium: sapphire lasers to bring cost-effective, lab-grade performance to quantum technologies, diagnostics and advanced manufacturing

The program, led locally by Houston Managing Director Jeremy Pitts, has supported 296 Activate fellows since the organization was founded in 2015. Members have gone on to raise roughly $4 billion in follow-on funding, according to Activate's website.

Activate officially named its Houston office in the Ion last year.

Charlie Childs, co-founder and CEO of Intero Biosystems, which won both the top-place finish and the largest total investment at this year's Rice Business Plan Competition, was named to the Activate Anywhere cohort. Read more about the Boston, New York, Berkley and Activate Anywhere cohorts here.

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