money moves

Houston health tech startup raises $16M series A round

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

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

VivanteHealth 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.

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With this new grant, UH has a new center for researching bioactive materials crystallization. Photo via UH.edu

A new hub at the University of Houston is being established with a crystal-clear mission — and fresh funding.

Thanks to funding from Houston-based organization The Welch Foundation, the University of Houston will be home to the Welch Center for Advanced Bioactive Materials Crystallization. The nonprofit doled out its inaugural $5 million Catalyst for Discovery Program Grant to the new initiative led by Jeffrey Rimer, Abraham E. Dukler Professor of Chemical Engineering, who is known internationally for his work with crystals that help treat malaria and kidney stones.

“Knowledge gaps in the nascent and rapidly developing field of nonclassical crystallization present a wide range of obstacles to design crystalline materials for applications that benefit humankind, spanning from medicine to energy and the environment,” says Rimer in a news release. “Success calls for a paradigm shift in the understanding of crystal nucleation mechanisms and structure selection that will be addressed in this center.”

The Welch Foundation, which was founded in 1954, has granted over $1.1 billion to scientists in Texas. This new grant program targets researchers focused on fundamental chemical solutions. Earlier this year, the organization announced nearly $28 million in grants to Texas institutions.

"Support from the Welch Foundation has led to important advances in the field of chemistry, not only within Texas, but also throughout the United States and the world as a whole,” says Randall Lee, Cullen Distinguished University Chair and professor of chemistry, in the release. “These advances extend beyond scientific discoveries and into the realm of education, where support from the Welch Foundation has played a significant role in building the technological workforce needed to solve ongoing and emerging problems in energy and health care.”

Rimer and Lee are joined by the following researchers on the newly announced center's team:

  • Peter Vekilov, Moores Professor, chemical and biomolecular engineering
  • Alamgir Karim, Dow Chair and Welch Foundation Professor, chemical and biomolecular engineering;
  • Jeremy Palmer, Ernest J. and Barbara M. Henley Associate Professor, chemical and biomolecular engineering
  • Gül Zerze, chemical and biomolecular engineering
  • Francisco Robles Hernandez, professor of engineering technology.

The University of Houston also received another grant from the Welch Foundation. Megan Robertson, UH professor of chemical engineering, received $4 million$4 million for her work with developing chemical processes to transform plastic waste into useful materials.

“For the University of Houston to be recognized with two highly-competitive Welch Foundation Catalyst Grants underscores the exceptional talent and dedication of our researchers and their commitment to making meaningful contributions to society through discovery,” Diane Chase, UH senior vice president for academic affairs and provost, says in the release.

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