Good morning Texans,
A San Antonio defense startup raised $136M, the state cut a $15M check to expand Samsung’s photomask supplier in Round Rock, and Lime Rock is backing a new Eagle Ford platform. WebAI hit a $2.5B valuation and is planting its logo on Congress Avenue, the Spurs locked up federal land for their downtown arena, and a biotech startup raised $19M to replace toxic drilling chemicals with bacteria.
Capital is still chasing compute, semiconductors, and industrial capacity — power availability and specialized talent remain the bottlenecks.
Let’s get into it.
TEXAS BUSINESS MOVES
WebAI hits $2.5B valuation and plants its flag on Congress Avenue
Austin startup WebAI is now valued at $2.5B and will place its logo atop a Congress Avenue high-rise as it promotes an AI model less dependent on hyperscale data centers.
Why it matters: Visibility and valuation signal continued AI capital formation in Austin, tightening competition for specialized talent and nearby compute infrastructure. → Read more
San Antonio biotech startup Maverick X raises $19M for cleaner extraction tech
Maverick X raised $19M to scale a bacteria-based extraction method designed to replace toxic acids used in oil drilling and mining operations.
Why it matters: If scalable, the technology could lower compliance risk and chemical handling costs while improving ESG posture without altering end-market demand. → Read more
Lime Rock backs Athena Energy Partners to pursue Eagle Ford assets
Houston-based private equity firm Lime Rock Partners funded Athena Energy Partners, led by former Ensign Natural Resources executives, to target Eagle Ford oil and gas development.
Why it matters: Fresh PE capital points to renewed deal velocity and service demand in South Texas, affecting labor availability, equipment utilization, and midstream planning. → Read more
Spurs-funded $30M purchase advances downtown San Antonio arena land deal
San Antonio City Council approved the $30M purchase of federal land for Project Marvel using funds backed by the Spurs, amid debate over affordability and homelessness.
Why it matters: Large civic projects reshape downtown construction pipelines, procurement dynamics, and surrounding real estate assumptions for years. → Read more
Samsung supplier in Round Rock wins $15.2M state semiconductor grant
Tekscend Photomask in Round Rock received a $15.2M Texas Semiconductor Innovation Fund grant as it expands capacity at its Texas Avenue facility.
Why it matters: Expanded in-state photomask capacity strengthens the semiconductor supply chain and reduces lead-time risk for advanced manufacturing. → Read more
San Antonio defense tech startup raises $136M
A San Antonio defense technology company founded in 2021 raised $136M to expand secure software delivery across military operations.
Why it matters: Late-stage defense funding creates durable hiring demand and vendor opportunities across secure cloud, integration, and compliance services. → Read more
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Secondary Signals (Still Worth Knowing)
Northern Data’s expired option on a Corpus Christi data center is changing deal terms tied to its pending acquisition by Rumble. → Read more
Industrial Electric Manufacturing plans a 500,000-square-foot facility at Brooks City Base in San Antonio. → Read more
Stream sold three buildings totaling 1M square feet at the Empire West Business Park to NorthPoint. → Read more
A Virginia-based data center operator is tied to a roughly 180-acre land purchase in Bastrop County. → Read more
Geico is adding a third building to its Richardson hub and plans to grow to 2,500 employees. → Read more
Thanks for reading Texas Operator. If you know someone building, investing, or operating in Texas, send this their way.
— Robert
Editor, Texas Operator