Advanced Micro Devices CEO Lisa Su was named Time Magazine’s CEO of the Year for 2024, recognizing her transformative leadership in guiding the semiconductor company through a remarkable decade of growth.
When Su assumed the chief executive role, AMD was struggling, with its stock price hovering around $3 and a minimal presence in the data center chip market. Through a strategic overhaul of product design and customer relationships, Su positioned the company to capitalize on the artificial intelligence boom.
While AMD is based in Santa Clara, California, Su works out AMD’s Austin campus.
Under her leadership, AMD’s market capitalization has surpassed that of rival Intel, reaching a milestone in 2022. The company’s stock price has dramatically increased to approximately $140, reflecting Su’s successful turnaround strategy.
Despite the significant progress, AMD remains the second-largest semiconductor company, trailing behind Nvidia. Nvidia, led by CEO Jensen Huang, has become the world’s largest company by market capitalization and dominates the GPU market for AI data centers.
The Time Magazine recognition highlights Su’s ability to reinvent AMD’s market position and competitive strategy in the rapidly evolving technology landscape.
At a fun event that featured taiko drummers, sushi and lots of drinks, AVRO Life Co launched its new GABA-based beverage powder line on Tuesday in Austin.
Several hundred people attended the launch party to experience the product designed to enhance cognitive wellness.
The event took place at Texas Saké Co and featured food prepared by Michael Carranza, chef of Tare, a recent Michelin Guide-recognized sushi restaurant in Austin.
AVRO, developed under the inspiration of the Japanese concept of Ikigai, aims to provide what the company calls “Intelligent Hydration” with its scientifically formulated beverage powders. Ikigai is a Japanese concept referring to something that gives a person a sense of purpose, a reason for living. The product utilizes PharmaGABA® and is marketed to boost energy, focus, and calm. PharmaGABA is the brand name of Gamma-aminobutyric acid (GABA) from Pharma Foods International in Kyoto, Japan. It is produced by natural fermentation.
Guests had the opportunity to sample the six flavors of AVRO mocktails and learn about the product from company CEO Keigo Sugawara.
GABA (gamma-aminobutyric acid) is a naturally occurring neurotransmitter that plays a critical role in regulating brain activity and nervous system function. As the primary inhibitory neurotransmitter in the human brain, GABA helps balance neuronal excitability, which can have significant implications for mental wellness, stress management, and cognitive performance.
In scientific research, GABA has been extensively studied for its potential to reduce anxiety and promote relaxation. Unlike stimulant-based cognitive enhancers, GABA works by creating a calming effect in the central nervous system. It helps decrease neural excitement, which can lead to reduced stress, improved mood, and better emotional regulation. Some studies suggest that GABA supplementation may help individuals manage symptoms of anxiety and potentially improve sleep quality by promoting a more relaxed mental state.
Cognitive benefits associated with GABA include enhanced focus and potential improvements in mental clarity. By helping to modulate brain activity, GABA can potentially support concentration and reduce the mental “noise” that often accompanies high-stress environments. Neurological research indicates that GABA may play a role in protecting against cognitive decline and supporting overall brain health. However, it’s important to note that while promising, research is ongoing, and more comprehensive studies are needed to fully understand the extent of GABA’s cognitive benefits.
The form of GABA used in products like AVRO – PharmaGABA® – is a specific, scientifically developed variant that aims to improve bioavailability and absorption. This means the body may more effectively utilize the GABA compound compared to traditional supplementation methods.
AVRO officials are working to make its powered beverage products available in Austin area stores.
Inspira Financial announced recently that it has acquired First Dollar, a technology company specializing in consumer-directed health benefit solutions, in a strategic move to enhance its health and benefits platform.
Financial terms of the acquisition were not disclosed. The deal brings Austin-based First Dollar’s technology infrastructure and development team into Inspira’s operations, expanding the company’s capabilities in health and financial services.
First Dollar, founded in 2019, had raised $19 million in venture funding, according to Pitchbook.
Matt Marek, president of Inspira Financial, said the acquisition aligns with the company’s mission to improve health outcomes and provide more customizable solutions for insurance providers and distribution channels.
First Dollar’s technology platform includes a Health Wallet for members, a Health Wallet Manager for administrators, and a Health Wallet Platform for partners. The company provides flexible infrastructure for managing health spending benefits, pre-tax accounts, and supplemental benefits.
Inspira Financial, which serves over 8 million clients with more than $62 billion in assets under custody, aims to strengthen its position in health consumerism through this strategic investment.
The acquisition is expected to help Inspira create a more unified platform that connects healthcare and financial services, potentially simplifying how individuals manage their health benefits.
First Dollar’s development team will join Inspira, bringing expertise in consumer-driven technological solutions. The company has 33 employees, primarily at its Austin headquarters, according to Pitchbook.
Austin and Paris-based startup GROWL has officially launched, unveiling an innovative fitness platform that transforms traditional boxing training and announcing a $4.75 million seed funding round.
The startup has secured investment from a diverse group of venture capital firms and notable athletes, including lead investor Skip Capital, Teampact.ventures, and Kima Ventures. The round also features investments from professional athletes such as Ciryl Gane, Gaël Fickou, and Julien Marchand, alongside tech entrepreneurs like Jonathan Cherki and Charles Gorintin.
GROWL aims to democratize boxing training by creating an interactive, AI-powered fitness solution that brings professional-level training into users’ homes.
Innovative Technology Meets Fitness
GROWL’s flagship product combines advanced technologies like high-resolution projection, edge-AI computing, multi-camera 3D motion tracking, and Unreal Engine-powered gaming to create an immersive fitness experience. The wall-mounted device offers a life-sized, interactive coach that provides real-time, personalized feedback for workouts.
“GROWL is something else entirely,” said Ciryl Gane. “Every session feels like a game, drawing you back for more. It makes boxing fun and accessible without sacrificing any of the thrill.”
A Fitness Solution for Everyone
Designed for users aged 10 and up, the platform offers a diverse range of workouts including boxing, strength training, yoga, and flexibility exercises. The system adapts to different fitness levels and goals, making it a comprehensive family fitness solution.
Adam Cook from Skip Capital noted the product’s versatility, highlighting its potential for “a complete, immersive at-home fitness experience, with limitless possibilities for future content and workouts.”
Market Opportunity and Vision
GROWL enters the $322 billion global fitness industry, targeting the $110 billion U.S. market with a unique value proposition. The company aims to democratize boxing training by making it accessible, engaging, and technology-driven.
CEO and Co-founder Léo Desrumaux shared a personal motivation: “I found myself through combat sports and boxing. Suddenly, I realized I wasn’t made out of glass – that I could take a punch but also hit back.”
Pricing and Availability
The product is positioned as a premium connected fitness device, with pricing at approximately $150 per month on a 48-month plan or $190 on a 36-month plan, which includes hardware and subscription for unlimited family access.
Pre-sales are expected to open in April 2025, with interested customers able to learn more at joingrowl.com.
Austin-based startup MakersHub has raised $7 million in additional Seed funding, bringing its total funding to $11.5 million and positioning the company for significant growth in the accounts payable technology space.
The funding round was led by prominent investors QED Investors and TTV Capital, with participation from Dash Fund, TRB Advisors, and four angel investors. As part of the investment, QED Partner Laura Bock and Athletic Brewing Company CEO Bill Shufelt will join MakersHub’s Board of Directors.
Founded in 2021 by Wharton Executive MBA alumni Phong Ngo and Charley Howe, MakersHub has developed a data-driven accounts payable platform designed to streamline financial processes for businesses and accounting professionals. The company’s technology aims to capture comprehensive financial data, reduce processing errors, and generate meaningful business insights.
The startup has demonstrated impressive growth, boasting over 200 paying customers and a network of several thousand payees. MakersHub has reported more than 10x year-to-date growth across nearly all of its commercial metrics.
Company leaders plan to use the new funding to accelerate platform infrastructure investments and expand their sales and marketing teams. This strategic approach reflects the startup’s commitment to supporting its rapid customer acquisition and technological development.
“This funding will enable us to continue our mission of transforming accounts payable processes for data-driven businesses,” said a company spokesperson.
The investment highlights the growing market demand for innovative financial technology solutions that can help businesses optimize their financial operations and generate actionable insights.
Austin,-based enSights, a cloud-based clean energy optimization startup, has successfully raised $10 million in Series A funding, signaling strong investor confidence in the company’s innovative approach to renewable energy management.
The funding round was co-led by venture capital firms JAL Ventures and XT VC, with additional support from the Menomadin Foundation. This financial boost will enable enSights to expand its global presence, with a particular focus on establishing a stronger foothold in the United States market.
Founded in 2021 by renewable energy entrepreneurs Alon Mashkovich (CEO), Roy Fadida (CPO), and Dekel Yaacov (CTO), enSights has quickly become a leader in the distributed generation segment. The company’s AI-powered platform addresses a critical challenge in the renewable energy sector: the significant underperformance of photovoltaic (PV) assets.
“Over 70% of PV assets do not meet their forecasted output, losing thousands of dollars daily,” said Mashkovich. “Our platform provides a sophisticated yet user-friendly solution to optimize energy operations.”
The company’s platform currently manages over 6,000 clean energy assets across four continents, with hundreds of active users overseeing more than 1.6 gigawatts of power. The investment comes at a time of rapid growth in the clean energy market, with operations and maintenance software spending projected to increase from $40-$61 billion in 2023 to $67-$101 billion by 2027.
Tal Shaked from JAL Ventures highlighted the company’s unique positioning at the intersection of solar energy expansion, energy storage growth, and artificial intelligence. “enSights offers a modular, scalable design that solves real-world challenges in the energy sector,” Shaked noted.
The funding will support enSights’ continued technological development, market expansion, and efforts to streamline clean energy asset management. With this latest investment, the company is well-positioned to play a significant role in the global transition to renewable energy.
Todd O’Gara, the founder and executive chairman of Wanu Water, Inc., stands accused of orchestrating a sophisticated investment fraud that netted approximately $3.4 million from individual investors through a series of calculated lies and fabricated documents, federal prosecutors allege.
According to a detailed FBI criminal complaint, O’Gara systematically misled investors between August 2019 and May 2023, weaving an intricate web of false claims about his company’s financial prospects. The 44-year-old entrepreneur from Austin, is charged with wire fraud for allegedly deceiving investors through multiple fraudulent tactics.
False Claims and Fabricated Evidence
The most egregious allegations center on O’Gara’s misrepresentations about potential investments and retail orders. Prosecutors claim he:
O’Gara falsely claimed to have medical expertise, telling investors he developed Wanu Water to address malnutrition in developing countries
Fabricated purchase order information from a major national retailer
Circulated forged term sheets suggesting substantial private equity investments
Misrepresented the company’s valuation, claiming it was worth up to $30 million
Investor Targeting
The affidavit details O’Gara’s interactions with at least three individual investors:
Victim-1 from New Jersey invested $405,000 after being told about a potential $30 million valuation
Victim-2 from New York invested $500,000 based on false claims about pending large orders
Victim-3 from California and their family invested approximately $857,000
Financial Red Flags
Court documents reveal that Wanu Water was consistently losing money. In September 2019, the company was projecting losses of $3.77 million for the year. Despite this, O’Gara continued to solicit investments by creating an illusion of imminent success.
Potential Consequences
The wire fraud charge carries severe potential penalties, including:
Up to 20 years in prison
A maximum fine of $250,000
Potential additional financial penalties based on investor losses
Austin’s office market is experiencing significant turbulence as it posts the nation’s highest vacancy rate increase, highlighting the growing disconnect between development momentum and market demand in one of Texas’s fastest-growing cities.
The state capital recorded a vacancy rate of 27.7% — tied with San Francisco for the highest nationally — marking a dramatic 710-basis point surge year-over-year, the steepest increase among major U.S. office markets, according to CommercialEdge’s November Office Market report.
This spike comes as the city grapples with reduced office utilization and weakening demand, even as development continues at a breakneck pace.
The market’s challenges are further reflected in tumbling sale prices. After leading the nation in September, Austin’s average price per square foot dropped sharply from $379 to $287, relegating it to sixth place among leading U.S. office markets. This decline is exemplified by Equity Commonwealth’s recent $64.5 million sale of two significant properties — Bridgepoint Square and Capitol Tower — both sold at substantial discounts to their original purchase prices.
Despite these headwinds, Austin maintains its position as a development powerhouse. The city ranks first regionally and third nationally in office space under construction, with 3.5 million square feet in development, representing 3.7% of its existing inventory. Including planned projects, Austin’s office footprint is projected to expand by an ambitious 12.1%.
The city’s asking rents remain strong at $46.75 per square foot, the second-highest in the region behind Miami’s $52.84, suggesting that property owners are maintaining pricing power despite increasing vacancies.
Meanwhile, other Southern markets are showing resilience. Washington, D.C. has already surpassed its 2023 sales volume, recording nearly $2.5 billion in transactions through October. Dallas-Fort Worth secured the fifth position nationally with $1.1 billion in sales, while Atlanta reached the $1 billion mark in transactions, despite lower-than-average sale prices of $145 per square foot.
Miami emerged as a regional standout, commanding the highest sale prices in the South at $369 per square foot, second only to national leaders, with transaction volume approaching $1 billion through October.
As Austin navigates these challenging market conditions, industry observers are closely watching whether the city’s ambitious development pipeline will exacerbate its vacancy challenges or if strong economic fundamentals will eventually absorb the excess supply.
Ladder, the leading strength training app, has raised $105 million in Series B funding and secured an additional $90 million in growth investment from General Catalyst.
The Series B round was led by Point72 Ventures and ADvantage VC, with participation from Steve Pagliuca’s PagsGroup and previous investors Tapestry VC and LivWell Ventures.
The $105 million financing will drive Ladder’s expansion into new markets, product development, and customer acquisition, positioning the app to reach a global audience.
Based in Austin, Ladder is the number one iOS app for strength training. It is available as a $29.99 monthly subscription with a 7-day free trial.
The Series B funding will accelerate product development, including an Android version, enterprise wellness initiatives, and non-subscription offerings like branded apparel,
“Since day one, Ladder has combined community engagement with a deeply personalized fitness experience,” Jeremy Pressman of Advantage said in a news release. “This approach has made them the category leader.”
The $90 million from General Catalyst’s Customer Value strategy will focus on customer acquisition, enhancing Ladder’s ability to introduce its offerings to a wider audience without diluting equity or taking on additional risk.
“We believe Ladder’s blend of expert programming and motivational tools delivers real results, making it a perfect fit for our strategy,” said KV Mohan of General Catalyst.
Unlike static workout libraries, Ladder offers weekly strength-focused workout plans created by elite coaches. Members can choose from a variety of modalities, including HIIT, bodybuilding, kettlebell training, and yoga-infused routines.
“Our members stay with Ladder because it’s more than an app—it’s a supportive community and a path to meaningful fitness progress,” said Ladder CEO Greg Stewart.
The app boasts a 4.9 rating on the App Store, over 15 million completed workouts, and recognition as 2024’s Best Strength-Training App by Women’s Health and CNET.
Ladder aims to make strength training approachable for everyone, with 92% of users reporting increased confidence in their workout routines. The app is particularly popular among women and younger fitness enthusiasts, with 65% of members using it in gyms and at home.
Austin’s venture capital landscape shows signs of recovery, with area startups raising $978 million across 80 deals in Q3 2024, marking a 44% increase from last year, according to data presented at Austin Tech Week.
During a panel discussion at Capital Factory Wednesday, leading Texas venture capitalists discussed how the investment climate has evolved since the market correction in 2022. While deal activity remains below the peak levels in 2021, investors noted that valuations have stabilized, and a renewed focus on sustainable growth and profitability has been renewed.
Charlie Plauche, General Partner of S3 Ventures, moderated the panel. Panelists included Kerry Rupp, General Partner of True Wealth Ventures; Krishna Srinivasan, founding general partner of LiveOak Ventures; Morgan Flager, managing director of Silverton Partners; and Tom Ball, Founding General Partner of Next Coast Ventures.
“The world has flipped,” said Srinivasan with LiveOak Ventures, explaining that companies can no longer pursue growth at all costs as they did in 2021. Instead, investors are prioritizing underlying solid business fundamentals and capital efficiency.
Though with a distinctly Texas twist, the panelists highlighted artificial intelligence as a significant investment theme. Rather than competing with Silicon Valley on foundational AI models, Texas startups are finding success in applying AI to specific industries where the region has deep domain expertise.
However, challenges remain. Rupp, with True Wealth Ventures, noted that despite increased attention to diversity, only 2% of venture funding goes to all-women founding teams. However, mixed-gender teams have improved, reaching about 20% of funding.
Year-to-date, Austin startups have raised $2.3 billion across 268 deals in 2024, positioning Texas as the fourth-largest state for venture capital investment behind California, Massachusetts, and New York.
Other key takeaways:
Texas/Austin Market Status:
Texas is now the #4 state for VC funding behind CA, MA, and NY
Deal activity is recovering from 2023’s slowdown but not back to 2021 peak levels
Current Market Dynamics:
Company valuations have significantly decreased from 2021 peaks:
Top companies now valued at ~8x revenue (down from 40-50x)
Average companies at ~5x revenue (down from 20x+)
The focus has shifted from pure growth to balanced growth and profitability
Bridge rounds and inside rounds were common in 2023-24
Down rounds were frequent (20-24% of deals in 2023)
AI Investment Trends:
Creating a valuation divide between AI and non-AI companies
AI companies still commanding premium valuations (20-40x revenue)
Texas VCs focusing on:
Vertical AI applications with domain expertise
Enterprise software enhanced by AI
Advice for Founders:
Best ways to approach VCs:
Get warm introductions through seed investors, lawyers, or portfolio companies
Tailor outreach to specific firms/partners
Junior VC team members are valid entry points
When raising:
Be realistic about growth projections
Focus on capital efficiency
Demonstrate strong unit economics
Show a clear path to cash flow break-even
Don’t fixate on “triple, triple, double, double” growth at all costs
