3 Houston innovators to know this week

who's who

This week's roundup of Houston innovators includes Mark Walker of Direct Digital Holdings, Will Womble of Umbrage, and Steve Altemus of Intuitive Machines. Photos courtesy

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

Mark Walker, CEO, co-founder and chairman of Direct Digital Holdings

This month, Mark Walker is celebrating his company's one year anniversary of going public — only the ninth Black-founded business to accomplish this feat on a U.S. stock exchange. Photo courtesy

Houston-based Direct Digital Holdings, an adtech platform, is celebrating one year after its IPO. Co-Founder Mark Walker shares on the Houston Innovators Platform how he took this experience in tech, advertising, and media to create his company's platform.

He also shared the story of how Direct Digital went public. Walker says the decision to IPO made the most sense for his company — though it wasn't an easy process. Direct Digital is only the ninth company founded by a Black entrepreneur to go public on a US stock exchange.

"If you think the process is hard — it actually is," Walker says on the journey to IPO. "We were a privately held company, and we knew we had a good growth trajectory and we looked a couple different options. We decided to go public in a very traditional way." Read more.

Steve Altemus, co-founder, president, and CEO of Intuitive Machines

Intuitive Machines listed on Nasdaq on February 14. Photo via intuitivemachines.com

Intuitive Machines, a space tech company based in Southeast Houston, announced that it has completed the transaction to merge with Inflection Point Acquisition Corp., a special purpose acquisition company traded on Nasdaq.

“We are excited to begin this new chapter as a publicly traded company,” says Steve Altemus, co-founder, president, and CEO of Intuitive Machines, in a news release. “Intuitive Machines is in a leading position to replace footprints with a foothold in the development of lunar space. With our launch into the public sphere through Inflection Point, we have reached new heights financially and opened the doors for even greater exploration and innovation for the progress of humanity.”

The transaction, which was originally announced in September, was approved by Inflection Point’s shareholders in a general meeting on February 8. As a result of the deal, the company will receive around $55 million of committed capital from an affiliate of its sponsor and company founders, the release states. Read more.

Will Womble, founder and CEO of Umbrage

Umbrage, a Houston-based developer of enterprise software, has been acquired. Photo via umbrage.com

Umbrage, founded in 2019, is proving once again that Space City is a software hub. Earlier this month, Founder Will Womble announced that Umbrage has been acquired by Bain & Company.

Umbrage creates custom software for companies by partnering with an internal technology team that makes the products. It’s a “teach a man to fish” method that has brought the company great success in creating software such as Shell’s TapUp app.

Bain & Company works with clients in 64 cities across 39 countries, meaning the global consultancy is positioned to bring Umbrage worldwide.

"Alongside Bain, we can deliver enhanced end-to-end solutions that will position our clients for success and to adapt during waves of disruptive emerging technologies," says CEO Womble in the release. Read more.

Umbrage, a Houston-based developer of enterprise software, has been acquired. Photo via umbrage.com

Houston software company acquired by global consultancy

M&A moves

A Houston software company is celebrating an exit this month.

Umbrage, founded in 2019, is proving once again that Space City is a software hub. Earlier this month, Founder Will Womble announced that Umbrage has been acquired by Bain & Company.

Umbrage creates custom software for companies by partnering with an internal technology team that makes the products. It’s a “teach a man to fish” method that has brought the company great success in creating software such as Shell’s TapUp app.

Bain & Company works with clients in 64 cities across 39 countries, meaning the global consultancy is positioned to bring Umbrage worldwide.

"Alongside Bain, we can deliver enhanced end-to-end solutions that will position our clients for success and to adapt during waves of disruptive emerging technologies," says CEO Womble in the release.

Bain’s Vector program has advised more than 6,700 digital projects around the world and across industries. It works by creating joint teams featuring Bain’s consulting staff, allowing companies to reach their digital goals themselves, but with a little help, not unlike Umbrage’s own methods. Acquiring Umbrage gives Bain a boost in its ability to help clients on a larger scale.

"Bain's commitment to delivering results with clients requires expanding and enhancing its ability to innovate and industrialize digital solutions," says Arpan Sheth, global leader of Vector, Bain's digital delivery platform. "Joining forces with Umbrage will allow us to develop a best-in-class, craft-centric digital product and venture building studio that will enable our clients to not only develop successful digital strategies, but to also execute on these strategies through world-class software capabilities. Umbrage further enhances Bain's Next solution to support our clients in their business building missions.”

Once the deal is completed, Umbrage will operate independently, but as a branded service line that’s part of Bain Innovation & Design. But existing clients needn’t worry. Umbrage will continue to assist them, including clients in financial services, energy, natural resources, and other industries.

In 2021, Umbrage raised a $2 million round led by Rice Investment Group. Womble previously joined the Houston Innovators Podcast to share how Houston has played a role in the company's growth.

Will Womble founded Umbrage in 2018. Photo courtesy

This week's roundup of Houston innovators includes Will Womble of Umbrage, Katie Mehnert of ALLY Energy, and James Reinstein of Saranas. Courtesy photos

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 energy to health care — recently making headlines in Houston innovation.

Will Womble, CEO of Umbrage

Startup founder on how Houston has evolved as a software hub — and why there's no better place to be

Will Womble joins this week's episode of the Houston Innovators Podcast. Photo courtesy

Will Womble describes his company, Umbrage, as fiercely loyal to Houston. The business, which publicly launched earlier this year, supports companies large and small with their software design, development, and more. Womble says he saw a void in Houston for this type of company, and he's attempting to fill it.

"What makes us different is speed to market — we're all onshore. We're all Houston-based, with the exception of five of our 40 employees," Womble says. "Houston was our focus and mission."

Womble has seen Houston evolve as an innovation ecosystem over the years, and now the game has changed. Click here to read more.

Katie Mehnert, founder and CEO of ALLY Energy

Katie Mehnert's company, ALLY Energy, has made an acquisition. Photo via Katie Mehnert

ALLY Energy announced it has acquired Clean Energy Social, a jobs and networking community for the clean energy industry. The deal expands ALLY's platform into the solar, wind, power, oil and gas, power and utilities, biofuels, hydrogen, geothermal, carbon capture, and other sectors that make up the energy transition.

"It's time to tackle the enormous challenge of the energy transition by connecting companies and candidates to resources so we can reduce the time and capital it takes to recruit and reskill," says Katie Mehnert, founder and CEO of ALLY Energy, in a news release. "We can speed up decarbonization by centralizing resources into one digital experience. This acquisition is a much-needed human capital investment to advance net-zero goals." Click here to read more.

James Reinstein, president and CEO of Saranas

Saranas closed its series B round this week. Photo via Saranas.com

Saranas Inc. announced that it closed a $12.8 million series B investment led by Wisconsin-based Baird Capital, the venture capital and global private equity arm of Baird, a global company with a location in Houston. Austin-based S3 Ventures also supported the round. The company will use the funds to continue its clinical trials, per a news release.

"We are pleased to announce this round of funding led by Baird Capital," says Saranas President and CEO James Reinstein in the release. "It underscores the importance of real-time monitoring of bleeding complications and our opportunity to accelerate the commercialization of Early Bird. We look forward to expanding our clinical evidence through prospective clinical trials and launching next generation products, including Bird on a Wire, to address a much broader range of endovascular procedures." Click here to read more.

Will Womble, CEO of Umbrage, joins this week's episode of the Houston Innovators Podcast. Photo courtesy

Startup founder on how Houston has evolved as a software hub — and why there's no better place to be

HOUSTON INNOVATORS PODCAST EPISODE 94

It's no understatement to say that Will Womble is incredibly proud to be a Houstonian. The former actor and lawyer first got involved in the startup world by way of Austin — but he always advocated for his hometown.

"Houston is always third in line when it comes to the 'cool kid' in Texas," Womble says on this week's episode of the Houston Innovators Podcast. "But when you look at what's here, there's not a city outside of New York City with as many Fortune 500 companies. ... I just wanted to go prove that Houston has some really talented software developers just clamoring for the opportunity to show the talent."

An early hire at Chaotic Moon — later acquired by Accenture, Womble co-founded Austin-based Hypergiant before founding his latest venture, Umbrage. The company, which publicly launched earlier this year, supports companies large and small with their software design, development, and more.

The company, which Womble describes as a service-focused, crafts-based digital studio, works with its clients to design, develop, and deliver enterprise software that's cutting edge and scalable. The other thing? Umbrage is fiercely loyal to Houston. Womble says he saw a void in Houston for this type of company, and he's attempting to fill it.

"What makes us different is speed to market — we're all onshore. We're all Houston-based, with the exception of five of our 40 employees," Womble says. "Houston was our focus and mission."

Womble has seen Houston evolve as an innovation ecosystem over the years, and now the game has changed — especially when it comes to hiring, which has gotten very competitive.

"You see all of these great companies that aren't just bootstrapping but raising significant venture funding," Womble says. "It's awesome, but it's also making the landscape from the talent perspective very competitive. It was hard enough for a lot of industrial enterprise to attract talent before all of these startups were infused with capital to build their own teams."

These types of challenges aren't a deterrant for Womble — it's exciting for him.

"It's a really awesome time to be called a Houstonian," he says.

Womble shares more on his circuitous career and how he's seen the Houston innovation ecosystem evolve on the podcast. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


Umbrage, a Houston-based developer of enterprise software, has closed its seed funding. Photo via umbrage.com

Houston digital studio closes $2M seed round with local investment

money moves

A software startup in Houston has leveled up thanks to new funding. Houston-based digital studio Umbrage has reportedly raised $2 million.

Founded in 2019 by Will Womble, Umbrage creates custom software solutions for companies within digitally transforming industries, such as oil and gas, healthcare, and supply chain.

"Umbrage is a new way that enterprises can overcome the inherent challenges of building and scaling digital solutions," Womble, who also serves as CEO, says in a news release. "Umbrage partners with internal technology teams to create scalable products that directly impact business' success. And by training our clients to effectively scale and improve these custom-built solutions, we're setting up our customers for long-term, sustainable success."

The round was led by Rice Investment Group — which, according to the release, has been a client of Umbrage as well as an investor.

"We've utilized Umbrage's custom solutions in our portfolio companies with great success and we can attest to the customer value proposition," says Danny Rice, a Partner of Rice Investment Group. "We're thrilled to support Umbrage's growth and enable forward-thinking businesses to unlock the business potential that digital solutions from Umbrage can deliver."

According to the release, Umbrage was able to be cash-flow-positive within weeks of starting and has already grown its team to nearly 40 employees. Clients include Cold Bore Technologies, Sumitomo Corp., and cpap.com.

"Umbrage brings a product-first mindset that continues to influence our organization far beyond what is expected from a software vendor," says Edwin Suarez, vice president and chief digital officer at SC Global Tubular Solutions. "Our team has been challenged with digital business models from ideation through product development and partnering with Umbrage helps us focus on long-term strategy while ensuring delivery on our immediate needs."

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XSpace plans $250M industrial condo expansion with RAFA Racing Club

growth mode

Houston-based XSpace Group has teamed up with two other Houston companies, RAFA Racing Club and Maximo Capital, to develop five industrial condo projects that pair flex space and high-end car storage space with a members-only clubhouse for motorsports enthusiasts.

The five projects will be built in the Dallas-Fort Worth; Miami-Boca Raton; Charlotte-Mooresville, North Carolina; Phoenix-Scottsdale; and Los Angeles markets. Other markets, including Las Vegas, are under consideration for future phases.

XSpace says the initial five-project venture will generate estimated sales of $250 million. Condos will be available to rent or own.

The ground floor of each project will feature a RAFA Racing Club Social & Performance Centre, a members-only clubhouse, event space and lifestyle hub. The remaining floors will offer space for car storage, collectibles, offices and studios. RAFA will operate the ground floor of each building.

“Our goal from day one with RAFA Racing has been to connect people through a shared love of performance and community,” Rafael Martinez, founder of RAFA Racing Club and principal of Maximo Capital, said in a news release. “By pairing XSpace’s forward-thinking condominium design with the exclusive hospitality, networking and high-performance environment of a RAFA Racing Club clubhouse, we’re establishing a community blueprint where passion meets community.”

Each clubhouse will offer:

  • Lounges
  • Dining, working and networking spaces
  • Concierge service
  • Driving simulators
  • Fitness and conditioning capabilities

“We’re building the most valuable community-driven real estate product in America — and RAFA Racing Club is the anchor that makes it unlike anything else on the market," Byron Smith, founder of XSpace, added in a release. “By integrating our flexible, high-end industrial condominiums with RAFA’s world-class hospitality and automotive community spaces, we are completely redefining what commercial real estate can be for the motorsports enthusiast.”

RAFA operates facilities for motorsports fans in Houston and Austin. The clubs, geared toward wealthy people, entrepreneurs, executives, and brand partners, combine a clubhouse, garage, paddock (racing’s version of a locker room), a “human performance” center and driver training programs.

RAFA plans to open seven clubs in the U.S. and three outside the U.S. over the next four years.

XSpace operates a high-end office, warehouse, and lifestyle condo project in Austin and is building a project in Houston that’s set to open in 2027.

Walmart expands drone delivery service to 8 new Houston-area stores

Now Landing

More Walmart delivery drones are now buzzing around Houston-area skies.

In January, Walmart launched its drone delivery service in partnership with Wing at five locations in the Houston area. The retail giant just added eight more stores to its Houston-area drone delivery network.

Wing says the expansion makes drone delivery available to more than 1 million residents of the Houston area. “Many can now bypass notorious Houston traffic to get everyday Walmart essentials delivered by drone in minutes,” Wing said in a release.

The eight Walmart stores that joined the drone delivery network are:

  • 13003 Tomball Pkwy. Houston
  • 12353 FM 1960 Rd. West, Houston
  • 2901 Riley Fuzzel Rd., Spring
  • 20310 U.S. Highway 59, New Caney
  • 1025 Sawdust Rd., Spring, TX 77380
  • 13484 Northwest Fwy., Houston, TX
  • 13750 East Fwy., Houston
  • 3506 Highway 6 South, Houston

Stores where drone delivery was already available are:

  • 14215 FM 2100 Rd., Crosby
  • 1313 N. Fry Rd., Katy
  • 15955 FM 529 Rd., Houston
  • 255 FM 518, Kemah
  • 6060 N. Fry Rd., Katy

Houstonians can learn whether their address is eligible for drone delivery from a Walmart store by visiting wing.com/walmart. Drone-delivered orders can be placed on the Walmart app, the Wing app, or at Walmart.com.

Once an order is ready, it’s loaded onto a delivery drone. The drone then flies up to 60 mph and at a cruising altitude of about 150 feet to reach the customer’s home. The average flight takes less than 5 minutes.

Once it arrives at the customer’s home, the drone stops, hovers at roughly 23 feet, and lowers the order via a tether. Wing says its drones gently lower orders to the ground to protect fragile items like eggs and coffee.

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This article originally appeared on CultureMap.com.

TMC expands Korea BioBridge, welcomes 12 biotech companies to Houston

welcome to hou

The powerful partnership between Texas Medical Center (TMC) innovation and the world of Korean biotech advancement is already growing in scope. Just six months after the new TMC Republic of Korea BioBridge was first announced, 12 new companies from the Republic of Korea will establish on-site presences in Houston to further collaboration between the two nations and medical industries.

The expansion comes from a new agreement between TMC and the Korea Health Industry Development Institute (KHIDI). William McKeon, president and CEO of Texas Medical Center, applauded the move and predicted it would benefit both Houston and Korea immensely.

“Korea has established itself as a global leader in biohealth innovation, with a growing pipeline of breakthrough technologies across digital health, biotechnology, and medical devices,” McKeon said in the news release. “Through the TMC Korea BioBridge, we are creating a direct connection between Korea’s innovators and the world’s largest medical city. This collaboration between TMC and KHIDI provides companies with a place to establish a presence, build strategic relationships, engage with leading clinicians and researchers, and accelerate the path toward commercialization and patient impact in the United States.”

The companies that will be in residence at the TMC Innovation Factory include Ardens Lifescience, whose new CAROL device is currently in human trials tackling lung cancer by using the airway network as electrodes to perform bronchoscopic ablation; stem cell-based gene therapy firm CELLeBRAIN, currently working on neurological disorders and solid cancers; and Wellysis, the developer of the S-Patch wearable cardiac monitoring device.

Additional companies include:

  • Antigravity
  • ARPI
  • CTCELLS
  • elecell
  • HUVER Inc.
  • Hutom
  • ORGANOIDSCIENCES
  • YOUTH BIO GLOBAL
  • Seoul Medical Informatics Intelligence Lab Inc.

“This collaboration establishes a strong foundation for connecting Korea’s biohealth innovation ecosystem with world-class clinical and innovation resources in the United States,” Younghun Jeong, executive director of the KHIDI, added in the news release. “Through partnerships with Texas Medical Center and the Korean-American Medical Association Texas, we look forward to fostering meaningful collaboration among innovators, clinicians, and industry leaders while creating new opportunities for clinical validation, commercialization, and global growth. KHIDI remains committed to expanding global partnerships that support biohealth innovation, clinical collaboration, commercialization, and international growth.”

This is the seventh international strategic partnership for the TMC. It launched its first BioBridge with the Health Informatics Society of Australia in 2016. It launched its TMC Japan BioBridge, focused on advancing cancer treatments, last year. It also has BioBridge partnerships with the Netherlands, Ireland, Denmark and the United Kingdom.

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