Austin Inno and Austin Business Journal shined the spotlight on 55 of the region's most exciting startups during the Inno Fire Awards ceremony Nov. 30 at Capital Factory's downtown headquarters.
The Inno Fire Awards are designed to honor the local startups that have had major successes in the past year. Many of the companies being highlighted in the Fire Awards landed major funding rounds, launched exciting projects and made key hires in 2022.
There are 10 categories, with five companies in each — with the exception of software, which has 10. Below are the Blazer winners, or category winners, that were selected by Inno and ABJ judges.
At the networking and awards event — attended by more than 100 local startup leaders — the 10 Blazer winners were presented with a red sport coat to commemorate their award. And, in Inno style, there was plenty of time to trade ideas, handshakes and business cards.
Now, check out Inno's 10 Blazer winners.
Software
Icon is one of Austin’s most exciting companies. It started its monster 2022 with a $185 million funding round. It went on to announce big partnerships to 3D-print more homes in the Austin area, team up with NASA to one day build structures on the moon and its higher-end home, which debuted at SXSW, was one of Time magazine’s inventions of the year. It's even poised to continue its rapid pace despite a major fire at its headquarters building.
CPG
BeatBox has been on our radar for a long time, and with major distribution deals and fresh funding, 2022 was one of the company’s biggest years yet. It has more than doubled the number of stores its wine-based party punch is sold at, putting it on track to generate $36 million to $37 million in revenue this year, up from $7 million in 2020.
Social Impact/EdTech
Chipper is riding a wave a renewed attention to student loan debt. This year, the startup raised $5.6 million in seed funding and surpassed 130,000 users. The company is also part of the The Cap Table Coalition and pledged for 25% of the seed round to come from the coalition's Black, Latinx and diverse investors. Then, in October, Chipper launched an easy application platform for borrowers eligible for President Biden’s student loan forgiveness plan.
Fintech/cybersecurity
Billd helps contractors finance the purchase of construction materials, and it’s been growing rapidly. It has already surpassed $100 million in revenue and in 2021 ranked No. 1 in Austin Business Journal's awards for fast-growing large companies, with revenue up 1,933% in three years. On Nov. 1, the startup announced that it had closed on a $100 million debt facility, led by LL Funds, "to support increased demand from both new and existing customers."
Hardware
Earlier this fall, Firefly had its first successful rocket launch and deployed its payload into low Earth orbit. This company is all about perseverance, having gone through changes to its investor lineup, as well as the types of fiery explosions that happen with most rocket companies. With its first successful launch, 2022 was its biggest year ever. Firefly is now planning six launches for next year — and double that in 2024.
M&A
Earlier this year, The Mentor Method, led by founder and CEO Janice Omadeke, was acquired by The Cru, which is helmed by one of Omadeke's favorite founders. It also marked the first acquisition for a venture-backed company led by a Black woman founder in Austin. After some initial funding, last year the startup raised a $1.4 million seed round. At the time, that made her one of only 93 Black women in the U.S. who reported having raised more than $1 million in venture backing. Omadeke and her startup's acquisition are helping pave the way for more future success stories.
Investors
Austin has been fortunate to have several local VC firms announce major new funds this year. One of the biggest was raised by Next Coast Ventures, which announced a $310 million raise across three funds. It also launched a new program to give founders capital to acquire startups, like a miniature SPAC.
HealthTech
The needs of hospitals and the broader health care system have perhaps never been as clear as they are now, in the Covid era. And Diligent Robotics has developed a solution to help with staffing needs with its robot, Moxi, which can manage a host of hospital duties that free nurses up for what they do best. The company raised a $30 million funding round this year, and is continuing to bring its robots to new hospitals.
Community/Support
Notley is one of a very few companies to win a Fire award more than once. But they had the progress to prove it this year, building a partnership with Broadway Bank and Texas Partners Bank to help nonprofits smartly invest their cash reserves. It also teamed up with another 2022 Fire winner when it made a donation to Austin Community Foundation's The Black Fund, a giving network "that aims to unleash the power of Black-led organizations and uplift solutions to benefit the Black community in Central Texas."
Inno Picks
Sana Benefits raised a $60 million funding round earlier this year from Austin’s Trust Ventures and Gigafund. It was also one of the Austin Business Journal’s Best Places to Work winners, in part because of its remote work perk of a $300 allowance for coworking space, coffeeshops and the like.
