Tommy Knight and Alex Parlos founded Veros Systems in College Station, Texas. In 2006, Veros secured an exclusive worldwide license from Texas A&M University to commercialize technology developed by Dr. Parlos. Soon, Veros began product development and testing for different industrial applications. In 2013, Veros received venture-capital funding from Austin Ventures, Live Oak Venture Partners, and Chevron Technology Ventures. This investment came on the heels of a multi-year, multi-site technical evaluation at Chevron. Shell Technology Ventures joined the existing investors in a follow-on funding in 2014.