TLDR:
- Houston startups raised a combined $320 million in venture funding last quarter.
- Five Houston startups have raised over $320 million in venture funding so far in 2024.
Houston’s VC activity in the first quarter of 2024 spanned various industries and stages, with one mega deal for a geothermal company contributing a significant portion of the funding raised. The national VC market also saw a slowdown in fundraising activities during this period, with only $9.3 billion raised in the U.S. in total.
The five startup VC deals closed in Houston include Fervo Energy raising $244 million in funding for their geothermal technology, Procyrion securing $57.7 million in series E funding for their medical device, Sage Geosystems closing a $17 million series A round for their geopressured geothermal system facility, Ema raising a $2 million bridge funding round for their health and wellness-focused AI platform, and TrueLeap Inc. raising an oversubscribed $610,000 pre-seed round for their edtech startup.