Texas Weekly Deal Highlights
January 25, 2026
We have good news and bad news. Due to the winter storm, Austin ISD canceled school tomorrow, which triggered a domino effect of daycare closures. So, many of you will have an extra set of (very sticky) hands helping around the house tomorrow.
The good news? You still get Austin Weekly Deal Highlights. And honestly, we’d call it a net win, especially since Austin companies still pulled in over $500 million in deal funding last week.
Austin Deals
Noveon Magnetics Inc., the San Marcos-based recycler and maker of rare earth magnets, closed a $215M series Cfinancing round as it aims to help shift the industry away from places like China. The financing was led by a $200M investment from One Investment Management. The company has raised $422M raised to date.
Neurophos, a semiconductor company developing photonic AI inference chips, raised $110M in a Series A round led by Gates Frontier with participation from M12, Carbon Direct Capital, Aramco Ventures, Bosch Ventures, Tectonic Ventures, Space Capital, and others. $120M raised to date.
DealHub, a provider of enterprise‑grade quote‑to‑revenue and AI‑driven sales orchestration software, raised $100M in a round led by Riverwood Capital. $184.5M raised to date.
Mia Labs, who developed AI-powered customer conversations for auto dealers, raised a $20M Series A led by Chicago-based Permanent Capital Ventures. Other backers included Norwest, Eniac Ventures, Vine Ventures, Analog Ventures and Logos Fund. That brings Mia’s total funding to $29M.
AI chip company Ambiq Micro Inc., which IPOed last July, has launched a follow on offering that could raise up to $81.7M.
Autopic Inc., an early-stage Austin startup developing AI agents to help CTOs and DevOps teams, has raised a seed round backed by several local tech leaders. The company’s agentic AI platform helps engineers detect and repair software problems, as well as access metrics and gather telemetry data.
Austin M&A Activity
Diligent Robotics Inc., an Austin startup that has developed autonomous robots for hospitals and health care settings, is being acquired by Bay Area food delivery company Serve Robotics Inc. (Nasdaq: SERV) for $29M in Serve common stock and a potential earn-out up to $5.3M tied to certain milestones. The deal, announced Jan. 20, is expected to close this quarter. Diligent Robotics was founded in 2017 by Thomaz and co-founder and Chief Innovation Officer Vivian Chu. It raised about $90M in funding from backers including Tiger Global, Canaan and True Ventures. Ubiquity Ventures, Next Coast Ventures and Grit Ventures have also invested in the startup over the years. The company has also secured grants from the National Science Foundation.
Austin-based Wonderbelly, who sells FDA-regulated medicines for digestive aid has been acquired by one of the world’s largest consumer packaged goods corporations, Procter & Gamble Co. Terms of the deal weren’t announced. Wonderbelly has raised $15.4 million total to date, including a Series A last year led by Loft Growth Partners.
Greater Texas Market
Radial Power (Houston), a developer of on-site clean energy systems (solar, battery storage, and EV charging) for large commercial real estate portfolios, raised $355M from Goldman Sachs. $580M raised to date.
Sage Geosystems (Houston), a provider of next‑generation geothermal power generation and energy storage solutions, raised $97M in a Series B round co‑led by Ormat Technologies and Carbon Direct Capital Management, with participation from Exa, Nabors Industries, Ignis H2 Energy, and others. $141.81M raised to date.
CellMo Materials Innovation (College Station), a developer of highly porous metal foam materials for industrial applications, raised $5.71M from undisclosed investors. $5.71M raised to date.
Wash42 (Irving), a provider of vehicle washing services, raised $5.13M from undisclosed investors. $5.13M raised to date.
See you next week! —Mason & Joel
This edition was supported by Bradford Martin.
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