IFC, a member of the World Bank Group, and Proparco, a member of the World Bank Group, announced an equity investment of up to $50 million in Helios Sports and Entertainment (“HSEG”), an investment vehicle dedicated to sport, media and entertainment across Africa. HSEG aims to foster a more dynamic sport and entertainment ecosystem in Africa by collaborating with its four partners: NBA Africa, The Malachite Group (Afro Nation), PFL Africa, and Zaria Group. IFC and Proparco invest in African sport The IFC commited $30 million of the equity investment,
Browzwear, a digital apparel design software firm, has acquired Lalaland, an AI fashion model startup, to boost its AI capabilities and broaden Lalaland’s global reach. The financial terms of the deal were not disclosed, WWD reports. “And it’s a WRAP. Absolutely surreal Lalaland has been acquired by Browzwear. It’s the end of a wild era and the start of an even bigger one,” Michael Musandu, Co-Founder and CEO of Lalaland, said in a LinkedIn post. Browzwear acquiring Lalaland. Amsterdam-based Lalaland aims to make fashion more inclusive by allowing retailers to
Google has removed 58 nonprofit organizations associated with DEI from a list of organizations it funds, according to a new report by tech watchdog The Tech Transparency Project. The report references the most recent public list of organizations that receive the “most substantial contributions” from Google’s US Government Affairs and Public Policy team. The majority of the groups taken away from the list had mission statements that included he words “diversity, “equity,” “inclusion,” or “race,” “activism,” and “women.” It remains unclear whether the tech giant has ended the funding or
pgLang, the creative company founded by Kendrick Lamar and Dave Free, is launching a new initiative called Project 3, aimed at expanding its creative offerings for businesses. At the heart of this venture is Project 3 Agency, a full-service agency providing creative direction, content creation, production services, brand design, and strategic consulting. According to Fast Company, the move follows pgLang’s acquisition of Frosty, an international creative studio and longtime collaborator. The acquisition was instrumental in building the agency. “For us, it was like, how do we build foundational structures for
DeMarcus Edwards, a PhD graduate from Howard University, is the founder of an AI security startup, DARE Labs, which secured over $1 million in contracts last year. Edwards launched the company after being laid off from Google. The importance of mentorship Speaking to The Dig, Edwards highlights the growing number of computer scientists who studied at Howard. “People in the Valley have a lot of respect for Howard,” Edwards said. “I’d like that to be more well-known.” Edwards earned his master’s degree in computer science in 2020 and finished his Ph.D. program
Kava, a Nollywood streaming platform, is set to launch in August 2025 with over 30 Nollywood titles. The platform is a partnership between Inkblot Studios and Filmhouse Group, according to Deadline. “Kava is more than a streaming service. It’s a bold new chapter for Nollywood, designed to meet the growing demand for premium, authentic African content and to redefine how the world experiences our stories,” Kava Co-CEO Chinaza Onuzo said. “By giving both rising and establishing talent a trusted, lucrative stage to tell their stories, we’re building a platform that doesn’t
Black-owned social media network Fanbase has reached $12.7 million of its $17 million equity crowdfunding campaign. Founder Isaac Hayes III announced the milestone in an Instagram post, saying, “This raise is part of a larger mission to democratize ownership in the social media space.” Hayes is shifting away from traditional venture capital and turning to the community for investors, as the public now has the opportunity to own a stake in the platform. Fanbase’s equity crowdfunding campaign It reached $10 million of its equity crowdfunding campaign in 2024, which reportedly made Hayes
NAACP Image Award-nominated author Sabrina Lamb has launched Wekeza, an app that allows users to receive financial education in different languages. Users will be able to access US stocks in languages including English, French, Swahili, Hausa, Wolof, Zulu, and Haitian Creole, serving communities in the African diaspora across the US. “We learn to invest better when education speaks our language and honors our culture, Lamb says in a press release. Wekeza connects deeply with the African Diaspora experience, breaking down barriers to generational wealth,” she adds. Investing in your mother tongue
Chris Smalls, an activist and co-founder of the Amazon Labor Union, was physically assaulted while aboard the Handala, an aid ship trying to reach Gaza. The Freedom Flotilla Coalition, a grassroots international group that organizes nonviolent missions to oppose Israel’s blockade of Gaza, said that Israeli Defense Forces (IDF) boarded the vessel, beat and choked Smalls, and seized the ship. The Handala was carrying humanitarian supplies including food, baby formula, diapers, and medicine for Palestinians in Gaza. The United Nations has warned that the region is facing a “worst-case scenario
Sports tech company, Ballin AI, just announced the close of a $500,000 angel round. The startup, founded by Division I athlete Nyla Pollard, analyzes players’ gameplay to help them improve their performance and increase their recruitment chances. After players upload their film, the footage is examined by a nationally recognized evaluator, who then scores it across various criteria, including defense, shooting, rebounding, scoring, transition, ball handling, and finishing. How does Ballin AI work? “We created Ballin because every athlete deserves the opportunity to have the information they need to develop
