HOUSTON--(BUSINESS WIRE)--Softeq Development Corporation (Softeq), a Houston-based global full-stack development company serving Fortune 500 companies, welcomed the third group of early-stage startups for its Venture Studio Q2 2022 summer cohort. The group is the largest since the launch of the Softeq Venture Studio, a unique accelerator program that de-risks investments by combining engineering with startup formation services to help founders build real, scalable, and investable technologies. The addition of 14 companies from across the world brings the total portfolio to 27 companies. The $40 million Softeq Venture Fund also welcomes a new Limited Partner in Royal Eagle Capital Partners, a Houston-based investment firm, making a $3 million commitment.
“We are thrilled to see how much the Softeq Venture Studio has grown since 2021,” said Christopher A. Howard, Founder and CEO of Softeq. “We’re also pleased to welcome Royal Eagle Capital Partners as an investment partner in our Venture Fund, which allowed us to achieve more than 50% of our funding goal in just five months. We look forward to building on this partnership and growing Softeq in North America, Latin America, and beyond.”
The addition of Royal Eagle Capital Partners’ $3 million investment in the Softeq Venture Fund brings the total amount raised to more than $20 million. Softeq also recently expanded into Latin America, with the hiring of more than 30 engineers in the region, and plans to grow further in the next year to reach 150 employees.
“The Softeq Venture Fund presents a unique opportunity to diversify our holdings within the alternative investments space. The concept of risk mitigation in venture investments resonates with investment firms globally, and we are excited to be working with Softeq and the amazing talent of their early-stage companies,” said Mark Valdez, Co-Founder, Managing Partner, and Chief Investment Officer at Royal Eagle Capital Partners. The emphasis on growth in Latin America by Softeq was a driving factor for our commitment and will open the door to new opportunities in Mexico and beyond.”
The Q2 2022 cohort consists of a broad assortment of startup companies with diverse founders originating in the United States and internationally. The startups are building a variety of technology solutions, disrupting industries ranging from human resources and wellness to med-tech and sports-tech and further contributing to the varied portfolio of Softeq. The complete list of new startup companies and their business solutions is as follows:
- Concerto Commerce is an eCommerce platform that combines automated catalog management and payment processing to streamline reseller operations.
- Dailyhuman is a software platform designed to help companies retain employees by fostering safety, trust, and connection in the workplace.
- FrakBlock is a blockchain-based predictive tool providing financial products for the adulting process of young teens in Latin America.
- High Tech Ranch Solutions is a digital ranch management system designed by ranchers to bring monitoring to the palm of your hand.
- Homesavi is a platform that helps first-time homebuyers understand the home-buying process and guides them to their dream home.
- Louder.ai is an advertising platform that revolutionizes how people can support causes they care about and see the impact of their donations.
- Mallard Bay is a marketplace for guided hunting and fishing trips that streamlines booking and administrative processes for consumers and outfitters.
- RYN is a social platform to help families in the Middle East find and employ household migrant workers providing better working and living conditions.
- SAmAS Gamify is building a gamified psychometric assessment platform that helps employers evaluate and select the most qualified candidates.
- ShopAgain is an AI-powered customer retention platform redefining personalized customer experiences for eCommerce businesses.
- TeeMates Golf is a mobile app that connects golfers worldwide using social media, tee time linking, and offers a merchandise marketplace.
- ViiT Health is a non-invasive technology to help people measure and monitor blood sugar levels more accurately without a finger prick lancet.
- WellnessWins is a CRM to streamline intake processes for private therapy clinics to reduce waitlists and increase access to mental health care.
- WorkHint helps retail companies manage on-demand hourly talent to increase flexibility, reduce cost, and generate actionable data-driven insights.
To learn more about the Softeq Venture Studio and submit an application for the upcoming Q3 2022 cohort, visit www.softeq.com/venture-studio.
About Softeq Development Corporation
Founded in 1997 in Houston, Texas, Softeq Development Corporation provides early-stage innovation, technology business consulting, and technical solutions to enterprise companies and innovative startups. The company’s clients are often disrupting existing industries or going through digital transformation—an effort that requires a broad range of business and technical skills. Softeq offers a full spectrum of consulting services plus full-stack software, firmware, and hardware engineering services all under one roof and delivered by 400+ employees globally. The company is headquartered in Houston, Texas, and maintains sales and delivery offices in Los Angeles, London, and Munich, Germany. The company’s development centers are based in Vilnius, Lithuania, and Monterrey, Mexico. Softeq bridges technology gaps in knowledge-intensive projects and builds end-to-end solutions for connected devices and IT systems from the ground up. To help clients transition from analog to digital, the company provides expertise in various trending technologies, including the Internet of Things, Artificial Intelligence and Machine Learning, Industrial Automation, Robotics, Blockchain, and AR/VR. Softeq customers include Verizon, Epson, Microsoft, Lenovo, AMD, Disney, Intel, NVIDIA, Arrival, Halo by PAWS, and others.
In 2020, the company launched the Softeq Innovation Lab to provide an environment where corporate intrapreneurs and preeminent innovators from Houston and beyond can collaborate, create the technologies of tomorrow, and expedite the commercialization of ideas. In 2021, the Softeq Venture Studio was created to help early-stage startups build their products and get follow-on funding. The Softeq Venture Fund was launched in 2022 to provide capital to the Venture Studio and make follow-on investments in the top portfolio companies. Learn more at softeq.com.
