money moves

Robotics co. with growing Houston presence closes series B

The advanced submersible robotics company will put the funds toward international expansion. Photo courtesy of Square Robot

Houston- and Boston-based Square Robot Inc. closed a series B round of funding last month.

The advanced submersible robotics company raised $13 million, according to Tracxn.com, and says it will put the funds toward international expansion.

"This Series B round, our largest to date, enables us to accelerate our growth plans and meet the surging global demand for our services,” David Lamont, CEO, said in a statement.

The company aims to establish a permanent presence in Europe and the Middle East and grow its delivery services to reach four more countries and one new continent in Q1 2025.

Additionally, Square Robot plans to release a new robot early next year. The robot is expected to be able to operate in extreme temperatures up to 60 C. The company will also introduce its first AI-enabled tools to improve data collection.

Square Robot launched its Houston office in 2019. Its autonomous, submersible robots are used for storage tank inspections and eliminate the need for humans to enter dangerous and toxic environments.

The company was one of the first group of finalists for the Houston Innovation Awards' Scaleup of the Year, which honors a Bayou City company that's seen impressive growth in 2024. Click here to read more about the company's growth.

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A View From HETI

Houston-based CAMS will operate the Mesteño Wind Project, which is home to one of the tallest wind turbine installations in the U.S. Photo via Unsplash.

Houston-based Consolidated Asset Management Services (CAMS), which provides services for owners of energy infrastructure, has added the owner of a South Texas wind power project to its customer list.

The new customer, InfraRed Capital Partners, owns the 202-megawatt Mesteño Wind Project in the Rio Grande Valley. InfraRed bought the wind farm from Charlotte, North Carolina-based power provider Duke Energy in 2024. CAMS will provide asset management, remote operations, maintenance, compliance and IT services for the Mesteño project.

Mesteño began generating power in 2019. The wind farm is connected to the electric grid operated by the Energy Reliability Council of Texas (ERCOT).

With the addition of Mesteño, CAMS now manages wind energy projects with generation capacity of more than 2,500 megawatts.

Mesteño features one of the tallest wind turbine installations in the U.S., with towers reaching 590.5 feet. Located near Rio Grande City, the project produces enough clean energy to power about 60,000 average homes.

In June, CAMS was named to the Financial Times’ list of the 300 fastest-growing companies in North and South America. The company’s revenue grew more than 70 percent from 2020 to 2023.

Earlier this year, CAMS jumped into the super-hot data center sector with the rollout of services designed to help deliver reliable, cost-effective power to energy-hungry data centers. The initiative focuses on supplying renewable energy and natural gas.

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