A Houston startup that specializes in fire-proofing technologies received $5 million in seed funding, which it plans to use to expand operations and bring more jobs to the Houston-area.
NanoTech Inc, a year-old material science company, was the first firm to join Halliburton Labs, a 7,000-square-foot clean-energy technology lab launched in the summer by the Houston oil-field services company Halliburton. The accelerator houses promising startups that receive access to Halliburton’s facilities and expertise in exchange for a minority stake in their companies.
Working with Halliburton Labs exposed NanoTech to myriad investors that helped the company raise its seed funding, said Mike Francis, co-founder and CEO. The Austin venture capital fund Ecliptic Capital,is the lead investor in NanoTech.