3 Houston innovators to know this week

who's who

This week's roundup of Houston innovators includes Bill Snyder of Vivante Health, Kelly McCormick of UH, and Sean Hunt of Solugen. Courtesy photos

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

Bill Snyder, CEO of Vivante Health

Houston startup exec, Bill Snyder, has fresh funding for growth. Photo via vivantehealth.com

Houston-based Vivante Health closed a $16 million series A funding round, and the fresh funding will support commercial scaling and growth of the company, which is based in Houston's JLABS @ TMC space.

"The Series A financing round represents another pivotal milestone in our mission to improve our member's digestive health and provide outcomes at scale for our enterprise partners," says Bill Snyder, Vivante Health CEO, in a news release. "We are thrilled to partner with premier investors in this latest round of funding that will enable us to continue our rapid growth trajectory and further establish ourselves as the leader in digestive health."

The company is reinventing the way chronic conditions are managed through its digital health program, GIThrive, which equips people with digestive issues with technology, advanced science, and on-demand support. Click here to read more.

Kelly McCormick, managing director of RED Labs

Kelly McCormick wanted to help support UH small business owners. Photo via UH.edu

For years, the University of Houston and Rice University have been working together to support tech startups. Now the pair has announced two new programs — RED Launch and BlueLaunch, respectively — to focus on small businesses. The programs are open to University of Houston and Rice University affiliates who are interested in starting or growing a small business.

"Since inception, RED Labs programming focused mostly on tech entrepreneurship," says Kelly McCormick, managing director of RED Labs. "A few years ago, we began to build out course offerings at the Wolff Center for Entrepreneurship for students interested in small businesses.

"Through those courses, I saw incredible engagement and enthusiasm from students interested in starting a small business, but recognized the need for intensive support beyond classes," she continues.

McCormick says that last summer, UH piloted the first iteration of RED Launch with a small group of UH students, and now UH has brought in Rice to the initiative as well. Click here to read more.

Sean Hunt, co-founder and CTO of Solugen

Solugen has been named among the most innovative companies in the world — and was deemed the No. 1 most innovative manufacturers. Photo via LinkedIn

Houston-based Solugen has ranked second on Fast Company’s 2022 list of the 50 most innovative companies in the world. It also sits at No. 1 on the magazine’s list of the world’s most innovative manufacturers.

Last year, Solugen announced it raised $357 million in a Series C round, catapulting it to “unicorn” status. The Series C round bumped up the startup to a valuation of $1.8 billion, pushing it well past the $1 billion mark required for a unicorn designation.

“This fundraising round allows us to continue expanding the footprint of our Bioforge technology to give industries the products they need to reduce emissions in their existing supply chains, without compromising on performance or economics,” Sean Hunt, co-founder and chief technology officer of Solugen, said in a news release about the $357 million round. Click here to read more.

Vivante Health closed a fresh round of funding. Photo via Getty Images

Houston health tech startup raises $16M series A round

money moves

A Houston-based digital health startup that's targeting solutions for digestive diseases has closed its latest round of funding.

Vivante Health closed a $16 million series A funding round led by Chicago-based 7wireVentures with contribution from new investors, including Human Capital, Intermountain Ventures, SemperVirens, Elements Health Ventures, and Leaps by Bayer. Additionally, the round saw participation from returning investors FCA Venture Partners, NFP Ventures, Lifeforce Capital, and Big Pi Ventures.

The fresh funding will support commercial scaling and growth of the company, which is based in Houston's JLABS @ TMC space.

"The Series A financing round represents another pivotal milestone in our mission to improve our member's digestive health and provide outcomes at scale for our enterprise partners," says Bill Snyder, Vivante Health CEO, in a news release. "We are thrilled to partner with premier investors in this latest round of funding that will enable us to continue our rapid growth trajectory and further establish ourselves as the leader in digestive health."

The company is reinventing the way chronic conditions are managed through its digital health program, GIThrive, which equips people with digestive issues with technology, advanced science, and on-demand support. Throughout 2021, Vivante Health grew its client base by 400 percent through the addition of key Fortune 500 clients as well as employer healthcare solutions. Through these partnerships, Vivante's potential member base encompasses over 500,000 covered lives, according to the news release.

Around one in four Americans live with a digestive disease, making for a $136 billion market — and Vivante is addressing this need. The company reported that 87 percent of members stated they better managed their digestive symptoms, according to a recent poll, and 83 percent of members said they felt healthier. From a corporate client side, Vivante allows for reductions in direct medical cost, resulting in a 3 to 1 ROI for a large employer organizations.

"The current experience for individuals with GI disorders is at a minimum inadequate and frustrating, and for many, debilitating. To no surprise, over 40 percent of people with a GI condition are dissatisfied with their care," said Robert Garber, Partner at 7wireVentures. "Vivante is on a mission to change that. We are thrilled to partner with the company at a true inflection point in their growth story and accelerate access to a proven, evidence-based model that drastically improves the consumer experience while reducing costs for employers.

In 2020, Vivante raised a $5.8 million series A1. The company was founded in 2016 by serial entrepreneur Kimon Angelides, who recently launched a new business called FemTec Health.

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

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

VENTURE ADVENTURES

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.

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

Digital health startup based in Houston closes $5.8 million round

Money moves

A Houston health technology startup that uses digital solutions and on-demand support to help its users with digestive health has closed a Series A round of funding.

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.

"We knew we were onto something when the market responded so positively," says Dr. Kimon Angelides, Vivante Health founder and CEO, in the release, "but support from esteemed, experienced and successful firms like Lifeforce and Big Pi, and the continued strong support from our initial investor partners, give us a very encouraging boost of confidence as we carry out our vision and further develop the GIThrive platform."

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.

The startup's Houston headquarters is based out of the Johnson & Johnson Innovation Center, JLabs@TMC, but has offices in Nashville, Chicago, and Athens. Angelides, who honors his Greek heritage by spending a fair about of time in Greece, says in the release how important the Big Pi investment is for him.

"This partnership with Big Pi, a tech-based investment firm who's driven by the desire to support Greek talent, makes perfect sense. What's more, we have partnered with a team who themselves have been very successful entrepreneurs," says Angelides in the release.

Angelides, who has founded three other health tech companies, impressed Big Pi with his entrepreneurial track record and nationwide team

"This is one of those rare investments where the financial upside goes hand in hand with the prospect of radically improving the lives of millions of people across the globe," says Marco Veremis, investment partner with Big Pi, in the release.

Lifeforce Capital has a portfolio of software startups, including Aspire, Cricket Health, Notable Labs, One Medical, and Second Genome, per the news release, and the VC firm is excited for their new addition.

"We were immediately struck by Kim's entrepreneurial passion and big vision," says Sander Duncan, general partner with Lifeforce Capital, in the release. "We are thrilled to work with the Vivante team to build the first platform tackling digestive disease for millions of suffering patients."

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NASA unveils Artemis III astronauts at Johnson Space Center in Houston

To the moon

NASA on Tuesday, June 9, revealed the crew for its Artemis III mission, the next step in the space agency's plan to eventually land astronauts on the moon.

The announcement came two months after Artemis II's record-breaking trip around the moon that surpassed the distance record of Apollo 13.

NASA's Randy Bresnik, Frank Rubio, Andre Douglas and the European Space Agency's Luca Parmitano won't fly to the moon or land on the surface. Instead, they’ll orbit Earth while practicing docking their Orion capsule with two lunar landers.

“To the Artemis III crew, we wish you Godspeed on the journey ahead,” said NASA administrator Jared Isaacman.

Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin are racing to deliver the lunar landers. The two-week demo is targeted for 2027. Blue Origin suffered a recent setback when its massive rocket exploded during an engine-firing test on the launch pad in Florida, shaking nearby homes and illuminating the sky with an orange fireball.

NASA's Jeremy Parsons said the setback is a learning opportunity and that the space agency is confident Blue Origin's rocket will be ready in time.

NASA's Artemis program aims to return astronauts to the moon's surface for the first time since the 1970s. A recent revamp of the program announced by Isaacman aims to fast-track it similarly to the Apollo era, adding the upcoming spaceflight around Earth before eyeing a lunar landing in 2028.

“We are certainly humbled as a crew to be able to be your crew that executes this Artemis III mission in space,” said Bresnik, Artemis III commander.

Added Douglas, mission specialist: “My brain — it is going a mile a minute right now. But my heart, it is so warm. It is so full."

In May, NASA awarded hundreds of millions of dollars in contracts to four companies, including Blue Origin, to build landers, rovers and drones for a future moon base. Isaacman said the goal of the moon base is to lay the foundation for a Mars expedition.

Meta to bring $115 million AI data center training initiative to Houston

ai workforce

Meta and Associated Builders and Contractors have entered into a partnership to invest $115 million in training programs for the construction of AI data centers, with a portion of the project launching in Houston.

The companies announced June 8 that they would open America’s Workforce Academies at ABC chapter training centers in Houston; Indianapolis; Baton Rouge, Louisiana; and Columbus, Ohio.

The academies will offer career readiness and safety training, plus five weeks of hands-on education. Participants who complete the program will be granted a job offer from contractors working on Meta projects.

“The AI revolution is bringing change but also historic opportunities,” Dina Powell McCormick, Meta president and vice-chairman, said in a news release. “Skilled workers electrified rural America one pole at a time. They manned the factories that built the arsenal that won World War II. Now a new generation will pour the foundations and lay the fiber that secures American strength in this new age.”

Overall, the Meta and ABC aim for the academies to build a more sustainable pipeline of skilled construction workers and ensure safety and job readiness for the surging number of data center projects underway.

“This new program is an innovative talent solution that is a critical part of addressing the construction industry’s ongoing workforce shortage and creates an accelerated, new-entrant strategy for job seekers ... The sustained demand for data center construction technicians means the industry needs an all-of-the-above approach to address this shortage and grow the construction talent pool,” Michael Bellaman, ABC president and CEO, added in the release.

In Texas, Meta, the parent company of Facebook and Instagram, has launched or broken ground on data centers in El Paso, Fort Worth and Temple. The company announced in March that it planned to grow its El Paso Data center by 1 gigawatt, representing more than a $10 billion investment.

Apart from Meta, Texas has attracted data center development to power other giants like Google and Amazon in recent years. In turn, Texas has been predicted to become the biggest data center market. Commercial real estate services provider JLL reported this spring that the state could topple Northern Virginia as the world’s largest data-center market by 2030. Similarly, CBRE predicted that Houston's data center capacity could double by 2028. Read more here.

New Houston biotech co. lands $30M for pulmonary fibrosis drug

drug money

Most of us can claim a scar or two on our bodies. But when scarring develops inside the body, it’s known as a fibrotic disorder. A freshly launched Houston company, Oorja Bio Inc., is working on a treatment that can help to repair cells and reduce the damage wrought by the growth of fibrotic tissue in patients.

Late last month, Oorja Bio hit the scene with a pair of big announcements. Not only has the company raised a $30 million Series A thanks to founding investor California-based Westlake BioPartners, but it has also already paved the way for a Phase 2 study to take place this year.

Oorja Bio received Investigational New Drug (IND) clearance from the U.S. Food and Drug Administration (FDA), allowing the company to test its treatment in patients with idiopathic pulmonary fibrosis (IPF), a scarring of the lung tissue. IPF affects more than 150,000 adults in the United States and can result in a range of symptoms from shortness of breath to organ failure and death as it progresses.

Oorja Bio’s lead drug candidate, ORJ-001, was shown in a Phase 1 in-human trial to demonstrate “therapeutically relevant exposure and favorable tolerability” in 64 healthy adult volunteers in whom it was administered daily or weekly, according to a news release. Pre-clinical studies of ORJ-001 showed durable target tissue engagement and biomarker activity in bleomycin-induced lung fibrosis.

Administered subcutaneously, ORJ-001 is intended to improve and even restore function in cells that can reduce the signaling that causes IPF. It stops advancement of IPF and also allows for tissue repair. Currently available treatments for the disease can slow the development of IPF down, but do not address the declining lung function that’s inherent in its progression.

“The clinical and preclinical results from our studies to date give us confidence that ORJ-001 represents a novel treatment approach with the potential to repair and reverse fibrosis and modify disease progression in IPF,” Dr. Janethe Pena, CMO of Oorja Bio, said in the release.

“Our team is energized to deliver on our goal of redefining the future of fibrotic diseases, beginning with ORJ-001,” CEO and founder Sujay Kango added. “As we advance ORJ-001 in the clinic, we are embracing the paradigm shift in our biological understanding of IPF pathology that aligns with the central role of the alveolar epithelium. ORJ-001 was designed with this biology in mind and may provide, for the first time, a therapeutic intervention that repairs and reverses fibrosis and promotes disease modification.”

Most patients live only three to five years following their IPF diagnosis. Soon, ORJ-001 and Oorja Bio could give them a fighting chance.

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