what's trending

5 most popular innovation stories in Houston this week

This week's trending news stories include startups joining a cleantech incubator, a new deal for an energy transition company, and more. Photo via Getty Images

Editor's note:Another week has come and gone, and it's time to round up the top headlines from the past few days. Trending Houston tech and startup news on InnovationMap included innovators to know, startups making moves, Houston being named a fast-growing innovation ecosystem, and more.


3 Houston innovators to know this week

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

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. Click here to continue reading.

Houston cleantech incubator adds 3 startups in its latest cohort

Halliburton Labs has announced its next set of clean energy tech companies. Photo courtesy of Halliburton

Three climatetech companies will be joining Halliburton Labs, a Houston-based energy transition incubator.

Chemergy, EVA, and Novamera will be joining Halliburton Labs, the company announced last week. The three startups will receive technical support, access to Halliburton's global connections, and more from the program.

“We are excited to help accelerate three innovative companies that emerged from our recent Finalists Pitch Day,” says Dale Winger, managing director of Halliburton Labs, in a news release. “We will work closely with these founders and their teams to achieve strategic, operational, and financial milestones with the most efficient use of their time and capital." Click here to continue reading.

Houston cleantech company receives grant to harvest waste pressure in the U.K.

Revolution's tech produces green power for digital oilfield and pipeline initiatives through the recovery of excess natural gas pressure. Photo by Anton Petrus/Getty

The United Kingdom subsidiary of Houston-based cleantech startup Revolution Turbine Technologies has received a $200,000 grant from the U.K.’s Strategic Innovation Fund to help produce zero-emission electricity.

The project, led by Revolution Turbine Technologies (RTT) in tandem with regional utility Northern Gas Networks and British government agency Digital Catapult, will explore installation of RTT’s proprietary micro-turbines within the Northern Gas Networks’ natural gas distribution network. It’ll be the first time RTT’s technology has been introduced into the global market for natural gas distribution.

RTT’s U.K. subsidiary received the grant from the U.K.’s £450 million Strategic Innovation Fund. The fund backs projects that are designed to help U.K. energy systems reach net-zero targets.

RTT’s co-founder and CEO, Christopher Bean, says in a news release that the grant “will accelerate our development efforts and be instrumental in advancing commercialization of our technology.” Click here to continue reading.

Report finds Houston is 3rd fastest growing tech ecosystem

Houston Exponential released a new report on venture capital activity in the Bayou City. Sky Noir Photography by Bill Dickinson/Getty Images

In the startup world, small funding deals are a big deal in Houston.

A new Houston Exponential analysis based on data from PitchBook shows early-stage and angel rounds accounted for 151 venture capital deals under $5 million last year. Nearly two-thirds of those VC deals were less than $1 million.

Thanks to that robust activity, Houston now ranks as the third-fastest-growing tech ecosystem for early-stage companies in the country, according to the analysis.

Meanwhile, last year’s overall VC deal count exceeded 200 for the first time, “a harbinger of future growth potential as new company creation continues to explode,” the analysis says. Click here to continue reading.

Houston expert weighs in on marketing from an investor’s perspective

What should Houston startups know about marketing? Photo via Getty Images

Just what do investors want to see from a startup with regards to the company’s marketing? I recently spoke on this topic to a cohort of early-stage technology startup entrepreneurs at Softeq Venture Studio, an accelerator program that helps founders build investable technologies and businesses. Click here to continue reading.

Trending News

Building Houston

 
 

VR training startup, HTX Labs, has raised funding from an outside investor for the first time. Courtesy of HTX Labs

HTX Labs, a Houston-based company that designs extended reality training for military and business purposes, announced last week that it has raised its first outside capital.

The company has received a $3.2 million investment from Cypress Growth Capital. Founded in 2017, HTX Labs — developer of the EMPACT Immersive Learning Platform — has been granted funding from the Department of Defense as well as grown its client base of commercial Enterprises. The platform uses virtual and extended reality that "enables organizations to rapidly create, deploy, measure, and sustain cost-effective, secure, and centralized immersive training programs, all within engaging, fully interactive virtual environments," per a news release.

“We have been looking to secure outside capital to accelerate the growth of our EMPACT platform and customer base but we hadn’t found the right partner who provided an investment vehicle that matched our needs,“ says HTX Labs CEO Scott Schneider in the release. “We found everything we were looking for in Cypress Growth Capital. They have a non-dilutive funding model that aligns with our capital expectations and have the level of experience that really makes this smart money.

"Cypress has a decade-long track record of success in helping emerging software and services companies achieve scale," he continues. "It is clear that the team’s collective entrepreneurial and operating experience will be of tremendous benefit to us as we focus on expanding our customer base in a very intentional way.”

The fresh funding will go toward growing and scaling the company's operations — both within the current Department of Defense and expansion opportunities into key commercial markets, like heavy industry, manufacturing, and higher education. Additionally, the funding will support increased customer adoption.

“Scott and his team have built an exceptional business that is poised for dramatic growth,” says Cypress Partner Pat McCaffrey in the release. “HTX Labs’ modern, immersive training solution provides clients with a force multiplier for modernizing training and an unmatched ROI.”

Trending News