Houston—Tvardi Therapeutics, a Houston biotech co-founded last year by the former chief of the University of Texas M.D. Anderson Cancer Center, has raised $9 million to support clinical trials of an experimental cancer drug developed through research at the medical center. Ron DePinho, past president of the M.D. Anderson Cancer Center, co-founded the company with … Continue reading “Tvardi, Co-Founded by Former MD Anderson Leader DePinho, Raises $9M”
Author: Angela Shah
Angela Shah was formerly the editor of Xconomy Texas. She has written about startups along a wide entrepreneurial spectrum, from Silicon Valley transplants to Austin transforming a once-sleepy university town in the '90s tech boom to 20-something women defying cultural norms as they seek to build vital IT infrastructure in a war-torn Afghanistan. As a foreign correspondent based in Dubai, her work appeared in The New York Times, TIME, Newsweek/Daily Beast and Forbes Asia.
Before moving overseas, Shah was a staff writer and columnist with The Dallas Morning News and the Austin American-Statesman. She has a Bachelor's of Journalism from the University of Texas at Austin, and she is a 2007 Knight-Wallace Fellow at the University of Michigan. With the launch of Xconomy Texas, she's returned to her hometown of Houston.
TX Roundup: TMC’s BioBridge to the UK, New Execs at Fannin & TechFW
Let’s catch up with the latest innovation news in Texas. —The Texas Medical Center has announced an expansion of its BioBridge program to the United Kingdom. BioBridge is designed to help TMC and UK-based companies collaborate on a number of medical issues, including advancement of genomics and artificial intelligence technologies for cancer research. The medical center … Continue reading “TX Roundup: TMC’s BioBridge to the UK, New Execs at Fannin & TechFW”
With Cornershop, Walmart Expands On-Demand Delivery to Latin America
Walmart is taking the e-commerce delivery business south of the border. The Bentonville, AR, retailer announced Thursday it has acquired Cornershop, an on-demand online service that delivers products from supermarkets, pharmacies, and specialty shops in Mexico and Chile, for $225 million. “We are focused on making life easier for customers and associates by building strong … Continue reading “With Cornershop, Walmart Expands On-Demand Delivery to Latin America”
Exec Shuffle in Austin and San Antonio, Icon Funds, & More TX Tech
Let’s get caught up with the latest innovation news in Texas. —Personify, an Austin maker of customer management software, has been sold by Rubicon Technology Partners, a private equity firm with offices in Menlo Park, CA, and Stamford, CT, to Pamlico Capital in Charlotte, NC. Terms of the deal were not disclosed. Personify works with associations, … Continue reading “Exec Shuffle in Austin and San Antonio, Icon Funds, & More TX Tech”
OncoResponse Nabs $40M for Cancer Drugs Based On Survivors’ Antibodies
Houston—OncoResponse, a biotech startup formed jointly with the University of Texas M.D. Anderson Cancer Center in Houston, announced Tuesday it has raised a $40 million Series B round of funding. RiverVest Venture Partners led the round, which included new investors Redmile Group and the Qatar Investment Authority, as well as existing investors Alexandria Venture Investments, … Continue reading “OncoResponse Nabs $40M for Cancer Drugs Based On Survivors’ Antibodies”
PepsiCo Expands Nutrition Greenhouse Startup Program to U.S.
PepsiCo is expanding its Nutrition Greenhouse program from Europe to North America, adding to its arsenal of initiatives designed to connect the global soda-maker to innovative startups in the food and beverage sector. Nutrition Greenhouse will be an accelerator for 10 startups that “are helping to transform the food and beverage industry with nutritious, natural, … Continue reading “PepsiCo Expands Nutrition Greenhouse Startup Program to U.S.”
San Antonio Grocer HEB Announces New Digital Lab in Austin
Austin—HEB said Wednesday it is opening what the grocer calls an innovation center to house both HEB’s growing digital team and the staff of Favor, a delivery startup HEB purchased earlier this year. “This state-of-the-art space will be a hub for creativity and innovation as we continue to develop the ultimate digital experience for our … Continue reading “San Antonio Grocer HEB Announces New Digital Lab in Austin”
Spredfast Merger, Opcity Acquired, Disco Relocates & More TX Tech
[Updated 9/5/18 12:54 pm. See below.] Let’s get caught up with the latest innovation news in Texas. —Spredfast, an Austin developer of social media management software, has merged with San Francisco-based Lithium Technologies, the companies announced Tuesday. Terms of the deal were not disclosed. Lithium, founded in 2001, makes software for digital customer engagement. Last year, Austin-based … Continue reading “Spredfast Merger, Opcity Acquired, Disco Relocates & More TX Tech”
Health Wildcatters Splits Program in Two, Debuts Latest Startup Class
Dallas—Health Wildcatters has chosen its latest class of healthcare startups, and has also announced that the accelerator is splitting its cohort into two programs. One class will begin in the fall as usual, and the other will join a newly-originated spring session. “If we split it in half, it gives us a bigger chance to … Continue reading “Health Wildcatters Splits Program in Two, Debuts Latest Startup Class”
Austin’s Infinite.io, Maker of Data Storage Software, Raises $10M
Austin—Infinite.io announced Wednesday it has raised an additional $7.3 million in financing, bringing the data storage startup’s total financial haul to $10.3 million. The new funding comes on top of $3 million raised two weeks ago, says Mark Cree, Infinite.io’s president and CEO. The round was led by former Motorola CEO and Cleversafe chairman Chris … Continue reading “Austin’s Infinite.io, Maker of Data Storage Software, Raises $10M”
CPRIT Grants, TMC & Baird, Shipt & Drive.ai Expand, & More TX Tech
Let’s get caught up with the latest innovation news in Texas. —Forbius, an Austin biotech company (also known as Formation Biologics) has been awarded an $18.75 million grant from the Cancer Prevention and Research Institute of Texas. The funds will be used to support operations and Phase 2a development of AVID100, the company’s anti-EGFR antibody-drug conjugate … Continue reading “CPRIT Grants, TMC & Baird, Shipt & Drive.ai Expand, & More TX Tech”
New Houston Biotech Magnolia Tejas Plans Trials with $20M CPRIT Grant
Houston—Magnolia Tejas, a new biotech company formed to develop drugs to treat neurological side effects from chemotherapy, has received a grant of nearly $20 million from the Cancer Prevention and Research Institute of Texas. Magnolia Tejas is a wholly owned subsidiary of Magnolia Neurosciences, which launched earlier this month with $31 million from investors to … Continue reading “New Houston Biotech Magnolia Tejas Plans Trials with $20M CPRIT Grant”
Get Physical: Houston’s Kanthaka Offers Personal Trainers in an Hour
Houston—The excuses can come easy when it comes to exercising regularly. Kanthaka founder and CEO Sylvie Kampshoff wants to eliminate one of the most common: people can’t commit to a schedule. Kanthaka is an Uber-style service for finding personal trainers: users can book a session (nearly) on-demand, giving just one hour of notice. The app … Continue reading “Get Physical: Houston’s Kanthaka Offers Personal Trainers in an Hour”
New Funds for Multicoin, Infinite.io, Prism FM, Caringo & More
There has been a flurry of funding announcements from Austin startups. Here are some notable ones: —Caringo, a startup that makes software that can provide customers the ability to manage, organize, and search extremely large amounts of data, has raised nearly $3.4 million in new funding, according to a filing with the U.S. Securities and … Continue reading “New Funds for Multicoin, Infinite.io, Prism FM, Caringo & More”
Station Houston Names Longtime Education Executive Rowe as New CEO
Houston—Sometimes, when a startup has matured to a certain point, a founder is not considered to be the best person to lead it during the next stage of growth. At Station Houston, a startup-focused organization founded in 2016, new leadership is in place. Gabriella Rowe, a longtime education executive and former investment banker, has replaced … Continue reading “Station Houston Names Longtime Education Executive Rowe as New CEO”
SF’s Full Harvest Bags $8.5M to Help Sell “Ugly and Surplus” Produce
Full Harvest, an online market for imperfect produce that previously would have been thrown out, announced it has raised $8.5 million in a Series A round of funding. The funding was led by Spark Capital and includes investors such as Cultivian Sandbox Ventures, Rent the Runway co-founder Jenny Fleiss, and John Scherr, head of strategic … Continue reading “SF’s Full Harvest Bags $8.5M to Help Sell “Ugly and Surplus” Produce”
New Biotech Magnolia Neurosciences Gets $31M For Neuroprotective Drugs
A new biotech company, Magnolia Neurosciences, is launching with $31 million from investors to develop potential therapies for nervous system disorders based on discoveries at the University of Texas MD Anderson Cancer Center. Magnolia, which is based in New York, was co-founded by Seattle-based life sciences investment firm Accelerator Life Science Partners and MD Anderson … Continue reading “New Biotech Magnolia Neurosciences Gets $31M For Neuroprotective Drugs”
Exits in Austin, Pitch NASA, Diversity in Energy, & More TX Tech
Let’s catch up with the latest innovation news from Texas. —Accruent, an Austin-based maker of resource management software, is being acquired by Fortive (NYSE: [[ticker:FTV]]) for about $2 billion in cash, according to a press release. Fortive, which is based in Everett, WA, is buying Accruent from Genstar Capital, a San Francisco private equity firm, which … Continue reading “Exits in Austin, Pitch NASA, Diversity in Energy, & More TX Tech”
Austin Group Joins Other Tech Efforts to Promote Responsible AI Use
Artificial intelligence is poised to infiltrate nearly all aspects of human life. Given this development, technologists are focusing on how to ensure the technology usage is governed by ethics. “The general rule is that power begets responsibility,” says Michael Stewart, founder and CEO of Lucid AI, an AI startup in Austin. “If you’re bringing in a … Continue reading “Austin Group Joins Other Tech Efforts to Promote Responsible AI Use”
Blockchain Tomatoes & Edible Peels: Startups Innovate to Fight Spoilage
As much as 40 percent of food in this country is never eaten, yet 41 million people don’t have enough to eat, including 13 million children, according to the Natural Resources Defense Council and the U.S. Department of Agriculture. Some of that food insecurity is due to food spoilage, rendering billions of dollars’ worth of … Continue reading “Blockchain Tomatoes & Edible Peels: Startups Innovate to Fight Spoilage”
With Etsy Wholesale Offline, Stockabl Aims to Fill Gap For Makers
Houston—While studying for her PhD in biomedical sciences, Adrianne Stone took up jewelry-making as a stress reliever and side hustle, and sold her wares on Etsy Wholesale. But late last year, Stone says, she began to notice bugs on the site and a lack of response from Etsy (NASDAQ: [[ticker:ETSY]]) about those issues. That prompted … Continue reading “With Etsy Wholesale Offline, Stockabl Aims to Fill Gap For Makers”
After Threats, Austin Founder Shut Browser Firm Authenticated Reality
Austin—When Authenticated Reality launched last year, it seemed that the company had struck gold in terms of market demand and fit. The Austin-based startup had developed a Web browser that would require users to prove they are who they say they are. Users would have to sign up for an account—scanning their driver’s license and … Continue reading “After Threats, Austin Founder Shut Browser Firm Authenticated Reality”
For Women Only: E-Retail Subscription Firm Athena Club Raises $3.8M
[Updated 7/31/18 7:46 am. The story and headline has been changed to reflect an updated amount.] Athena Club, a subscription program for feminine hygiene products, is the latest entrant into the direct-to-women e-commerce space and announced today that it has raised $3.8 million in funding. Co-founder Maria Markina says her New York-based startup gives women … Continue reading “For Women Only: E-Retail Subscription Firm Athena Club Raises $3.8M”
Sam’s Club, Sunroom, and Funds for Revtech and Kony in TX Tech News
Let’s get caught up with the latest innovation news from Xconomy Texas. —Sam’s Club, the bulk retailer owned by Walmart (NYSE: [[ticker:WMT]]), has brought on about 100 tech employees to work at a new office in Dallas, according to The Dallas Morning News. The newspaper reported that the new office is working on a new … Continue reading “Sam’s Club, Sunroom, and Funds for Revtech and Kony in TX Tech News”
SnappyScreen’s Booths Protect People While They Have Fun in the Sun
Applying sunscreen while outdoors is a long-accepted way to help keep our skin safe from sunburn and cancer. Yet the Centers for Disease Control and Prevention says less than a third of women, and even fewer men, report using it when going outside for more than an hour. “You should put it on more frequently … Continue reading “SnappyScreen’s Booths Protect People While They Have Fun in the Sun”
Futures Command, SparkCognition, Student Loan Hero, & More TX Tech
Let’s get caught up with the latest news from Xconomy Texas. —Austin will be the new home for the U.S. Army’s Futures Command, a technology-focused reorganization of the military branch’s operations. “The command is expected to assess the future operational environment, emerging threats, and new technologies in order to develop and deliver concepts, requirements, future … Continue reading “Futures Command, SparkCognition, Student Loan Hero, & More TX Tech”
If the Shoe Fits: Luxury Shoe Club Launches E-Consignment Store
One in five pairs of shoes sit unworn in the average woman’s closet. So, why not sell these unused, or slightly used, pairs to someone who will wear them? That’s the view of Scott Van Valkenburgh, co-founder of Luxury Shoe Club, a Raleigh, NC-based startup that caters to women who want to buy and sell … Continue reading “If the Shoe Fits: Luxury Shoe Club Launches E-Consignment Store”
Walmart, Microsoft Deepen Partnership as Both Grapple With Amazon
The enemy of my enemy is my friend—even in the retail and cloud computing businesses. So says retail giant Walmart (NYSE: [[ticker:WMT]]) as it announced this morning a five-year partnership with Microsoft (NASDAQ: [[ticker:MSFT]]) to use machine learning and other technologies, deepening an existing partnership between two of Amazon’s biggest rivals. “Whether it’s combined with our … Continue reading “Walmart, Microsoft Deepen Partnership as Both Grapple With Amazon”
E-Retail Startup Pointy Raises $12M, Helps Small Shops Be Found Online
Mark Cummins wondered why online search engines could help you locate a landmark halfway around the world in a second but couldn’t tell him whether the corner store had a craft beer he liked. That’s what led him to co-found Pointy, which makes a hardware device that enables small retailers to easily upload inventory onto … Continue reading “E-Retail Startup Pointy Raises $12M, Helps Small Shops Be Found Online”
Apparel Brands Keep Up with Amazon Using Smart Factory Floor Software
The fashion industry has always prided itself on being cutting-edge. With technologies like the Internet of Things and analytics, apparel brands are now able to pivot more easily and frequently as styles change. Apparel makers “scrub social media, bringing up styles based on what people are wearing,” says Paul Magel, president of application solutions and … Continue reading “Apparel Brands Keep Up with Amazon Using Smart Factory Floor Software”
Air Force Innovation, Funds for Newchip & Convey, & More TX Tech
Let’s get caught up with the latest innovation news from Xconomy Texas. —Chevron Technology Ventures has launched a Future Energy Fund with an initial commitment of $100 million. The venture arm is a subsidiary of California-based Chevron (NYSE: [[ticker:CVX]]) and the new fund is designed to invest in “breakthrough technologies that enable the ongoing energy … Continue reading “Air Force Innovation, Funds for Newchip & Convey, & More TX Tech”
Stitch Fix CTO Polinsky Says Its Style Shuffle Game Makes Data Fun
When Cathy Polinsky became chief technology officer of Stitch Fix in late 2016, she knew one of the San Francisco-based company’s key challenges was continually refining its core software algorithm to make sure customers received the right tailored suggestions in their monthly wardrobe boxes. So, she made it into a game. Style Shuffle is a … Continue reading “Stitch Fix CTO Polinsky Says Its Style Shuffle Game Makes Data Fun”
Retail Robot Maker Bossa Nova Raises $29M to Monitor Shelves
Bossa Nova, a robotics company geared toward grocers and other sellers of related consumer products, announced today it has raised $29 million in new funding. The round was led by Cota Capital, with previous investors such as Intel Capital, Lucas Venture Group, and WRV Capital and new investors LG Electronics and China Walden Ventures participating. … Continue reading “Retail Robot Maker Bossa Nova Raises $29M to Monitor Shelves”
New Chapter: Publishing Executive Alston Becomes New CEO at DEC
Dallas—Alyce Alston, a veteran of the digital media and publishing industries, officially took over the reins of the Dallas Entrepreneur Center Wednesday. “I’ve always been an innovator within large organizations and then with startups after that,” she says. “I have a real empathy for startups, for entrepreneurs, people who are creating and doing things that … Continue reading “New Chapter: Publishing Executive Alston Becomes New CEO at DEC”
Strangeworks, TMCx, SeriesX, Unchained Capital, ALTR, & More TX Tech
Let’s get caught up with the latest innovation news from Xconomy Texas. —Strangeworks, an Austin, TX-based quantum computing startup, announced it has raised $4 million in a seed round led by Lightspeed Venture Partners, according to a press release. Ecliptic Capital, GreatPoint Ventures, Lux Capital, BoxGroup, and Amplify Partners contributed to the funding. Strangeworks, which was … Continue reading “Strangeworks, TMCx, SeriesX, Unchained Capital, ALTR, & More TX Tech”
BuildGroup Raises $330M to Fund Startups for the Long Haul
Austin—BuildGroup, a firm dedicated to investing in young software startups, announced Tuesday that it has raised $330 million. The investors are individuals from Texas, Colorado, and Utah, said Lanham Napier, BuildGroup’s co-founder and CEO. Napier, former CEO of Rackspace Hosting in San Antonio, TX, said he contributed about $30 million of that total. When BuildGroup … Continue reading “BuildGroup Raises $330M to Fund Startups for the Long Haul”
Lola Brings E-Commerce Subscription Boxes to Women’s Sexual Health
Lola, an e-commerce startup that focuses on women’s reproductive health, has raised $24 million. The Series B round of funding was led by ACG with participation from earlier investors Spark Capital, Lerer Hippeau, and Brand Foundry Ventures. Among the startup’s initial investors are tennis player Serena Williams, model Karlie Kloss, television producer Lena Dunham, and … Continue reading “Lola Brings E-Commerce Subscription Boxes to Women’s Sexual Health”
New York Fashion Tech Lab Connects Retail to Crucial Innovations
Amazon is fundamentally disrupting how and where we shop, but in-store retail still has life in it. The Seattle e-commerce giant is “a hefty competitor, but that doesn’t mean brands and retailers don’t have the ability to fight back,” says Kay Koplovitz, co-founder and managing partner of Springboard Growth Capital in New York. In fact, … Continue reading “New York Fashion Tech Lab Connects Retail to Crucial Innovations”
Triumvira Immunologics Names Donna Rill Chief Technology Officer
Triumvira Immunologics, an Austin, TX-based biotech, appointed Donna Rill to serve as chief technology officer. Triumvera said Rill will use her technology development and manufacturing experience to help drive the company’s clinical development programs to develop a platform for engineering T cells to attack cancers. The company’s lead drug, an experimental treatment for liquid tumors, … Continue reading “Triumvira Immunologics Names Donna Rill Chief Technology Officer”
Futures Command, HeatGenie, Techstars Impact, UH & More TX Tech
Let’s get caught up with the latest innovation news from Xconomy Texas. —Techstars Impact, an Austin-based accelerator focused on startups using technology to solve social and environmental problems, has announced its first class of startups. The companies come from around the United States, South Asia, Nigeria, and Mexico. Among the problems the startups are working … Continue reading “Futures Command, HeatGenie, Techstars Impact, UH & More TX Tech”
E-Commerce Firm Rue La La Buys Fellow Flash-Sales Site Gilt Groupe
Two of fashion tech’s pioneering companies have come together. Rue La La, a flash-sale fashion site, announced Monday that it has purchased Gilt Groupe, a discount fashion and merchandise seller. Terms of the deal were not disclosed, but the two brands will operate independently, according to a press release. The merged company will be called … Continue reading “E-Commerce Firm Rue La La Buys Fellow Flash-Sales Site Gilt Groupe”
Aravive Seeks Nasdaq Perch Via Reverse Merger With Biotech Versartis
Houston biotech Aravive Biologics is going public through a reverse merger with Versartis, a Menlo Park, CA-based company whose lead drug failed a clinical trial last year. Under the deal, Versartis and Aravive shareholders will each own about 50 percent of the combined company, according to a press release. Aravive will get Versartis’s (NASDAQ: [[ticker:VSAR]]) … Continue reading “Aravive Seeks Nasdaq Perch Via Reverse Merger With Biotech Versartis”
Price Check on Aisle 3: Retailers Turn to Robots to Manage Inventory
Inventory management is crucial to operating a successful retail operation. And as hard as it may be to believe, retailers “don’t really know what’s on the shelves,” says Sarjoun Skaff, founder and CTO of Bossa Nova Robotics. A combination of the sheer number of products a retailer like Walmart has on offer and the pace … Continue reading “Price Check on Aisle 3: Retailers Turn to Robots to Manage Inventory”
Cannon Ventures, Pensa Systems, FloSports, Kopser Wins & More TX Tech
Let’s catch up with the latest innovation news from Xconomy Texas. —The Cannon, a Houston-based venture studio, is creating an angel network that founder Lawson Gow hopes will “democratize” angel investing in startups. “We will have junior memberships and regular memberships,” Gow says. “We want to bring in 35-year-olds who want to invest $20,000. There are … Continue reading “Cannon Ventures, Pensa Systems, FloSports, Kopser Wins & More TX Tech”
With $5.75M Start, Neighborhood Goods to Create Stores Within a Store
Dallas—A not-yet-open retailer called Neighborhood Goods announced it has raised $5.75 million to help develop what co-founder Matt Alexander calls the next evolution of the department store. Neighborhood Goods combines the flexibility of pop-up shops with the presence of a traditional retail space, he says. “What we’re doing is creating an ecosystem, wherein these brands … Continue reading “With $5.75M Start, Neighborhood Goods to Create Stores Within a Store”
Smart-Kitchen Startups Give Cooks Digital Help Via Internet of Things
When it comes to connected homes, the hottest spot is located in your kitchen. The Internet of Things, artificial intelligence, and related technologies are being used to connect ovens, refrigerators, and other kitchen appliances to the Web. Feeling unsure about cooking that fish dish? Smart ovens can more accurately calibrate temperatures to avoid over-cooking. There’s … Continue reading “Smart-Kitchen Startups Give Cooks Digital Help Via Internet of Things”
Seeking Firmer Grip on E-Commerce Market, Adobe Buys Magento
Adobe has made a big bet emphasizing the “shop” part of its best-known product. The maker of the Photoshop suite of software announced late Monday it is buying fellow Bay Area firm Magento Commerce for $1.68 billion to gain a larger foothold in the growing e-commerce industry, which is now dominated by Salesforce and Oracle … Continue reading “Seeking Firmer Grip on E-Commerce Market, Adobe Buys Magento”
New Silverton Fund, Brunner to Phunware, HEB Adds CDO & More TX Tech
Let’s get caught up with the latest innovation news from Xconomy Texas. —Austin, TX-based venture firm Silverton Partners announced it has closed on a $108 million fund, which it will use to invest in startups in the enterprise and consumer technology sectors. Silverton says that since its founding in 2006, the firm has made more … Continue reading “New Silverton Fund, Brunner to Phunware, HEB Adds CDO & More TX Tech”
Aiming to Digitize Term Life Insurance Industry, Bestow Raises $15M
Dallas—Melbourne O’Banion, co-founder and CEO of Bestow, sees opportunity in using analytics to bring the insurance industry into the 21st century. To that end, the Dallas-based startup announced today it’s raised $15 million in a Series A funding round led by Valar Ventures, with participation from existing investors New Enterprise Associates (NEA), Core Innovation Capital, … Continue reading “Aiming to Digitize Term Life Insurance Industry, Bestow Raises $15M”
Ojo Labs, AI-Enabled Chatbot Maker for Real Estate, Raises $20.5M
Austin—Ojo Labs, which is developing artificial intelligence-enabled chatbots designed for the real estate industry, has raised $20.5 million. The new Series B funding round comes from investors such as Realogy Holdings, Royal Bank of Canada, Northwestern Mutual Future Ventures, and ServiceMaster, along with Texas venture capital firms LiveOak Venture Partners and Silverton Partners. Ojo Labs … Continue reading “Ojo Labs, AI-Enabled Chatbot Maker for Real Estate, Raises $20.5M”