Fearless Fund has announced it has received multi-million dollar follow-on investments from Bank of America, Costco, and Mastercard. Investing In WOC Founded in 2019 by Arian Simone, Keshia Knight Pulliam, and Ayana Parsons, Fearless Fund invests in pre-seed, seed level, and series A women of color founders building scalable and growth-aggressive companies. Their portfolio includes Bitsy’s, the clean food and beverage brand co-founded by Gabrielle Union, Melissa Butler’s cruelty-free beauty brand The Lip Bar, Pinky Cole’s Slutty Vegan, and Sevetri Wilson’s Resilia. Read: Resilia Closes $35M Series B, Largest Raise Ever For A
A new report by Dropbox DocSend has shed light on the funding divide in the tech industry, particularly regarding race and gender disparities among founders. While 2021 witnessed record-breaking levels of VC funding and increased engagement with diversity, equity, and inclusion (DEI) initiatives, 2022 proved to be more challenging for historically underfunded founders. Turning tides In 2021, VC funding for early-stage founders experienced a significant boost, with record-breaking funding levels. Historically underrepresented founders also experienced a surge of investor interest driven by DEI-related investment initiatives in response to the murder
Helium Health, a Lagos-headquartered healthtech startup, has secured $30 million in Series B funding in the second-largest series B round for any African health tech company. Digitizing Healthcare Across Africa Founded in 2016 by Tito Ovia, Adegoke Olubusi, and Dimeji Sofowora, Helium Health has been a pioneer in is revolutionizing Africa’s healthcare sector through technology, finance, and data. The company’s suite of digital solutions includes electronic medical records, hospital management systems, insurance and billing software, and analytics tools. The company currently operates in eight countries (Nigeria, Ghana, Senegal, Liberia, Kenya,
A Black former assembly line staffer at Tesla is seeking to add almost 240 other workers to his 2017 lawsuit against the electric vehicle manufacturer which he described as a “hotbed for racist behavior.” A pattern and practice of race discrimination Marcus Vaughn, who formerly worked at Tesla’s Fremont factory in California, claims that Tesla allowed a “pattern and practice of race discrimination,” as per Bloomberg. In response to Vaughn’s initial filing, Tesla published a blog post titled “Hotbed of Misinformation. The company denied wrongdoing, stating it had investigated the allegations and fired
UK-based engineers Jonathan Nwosu, Min Sang Kim, and Dakshesh Dharmadhikary have teamed up to launch Radiant AI, a new platform that helps lenders track the impact of their sustainable investments. Sustainability-linked loans (SLLs) have revolutionized global lending by linking interest rates to borrowers’ sustainability performance. Real estate financing has been a frontrunner in adopting SLLs, recognizing the value of energy-efficient buildings and contributing to a low-carbon economy. However, the rapid growth of SLLs has also introduced risks like inaccurate reporting and greenwashing. That’s where Radiant AI comes in. Radiant AI
Tragedy struck in Senegal as a 26-year-old student, Elhaji Cisse, was killed shortly after pleading with Elon Musk for Starlink internet access amidst social unrest. Senegal has experienced widespread protests following the sentencing of opposition leader Ousmane Sonko. As tensions escalated, the government imposed restrictions on social media and messaging platforms. The restrictions limited the flow of information and communication, forcing tech-savvy citizens to use virtual private network (VPN) to connect to the wider world. Elhaji Cisse Elhaji Cisse, a 26-year-old student, was an active participant in the protests. Through
STEMBoard’s joint venture, Exacta Solutions, has been awarded a $947 million contract designed to provide support to National Geospatial-Intelligence Agency’s total lifecycle acquisition management, strategic financial management and strategic business management activities. Founded by former NASA rocket scientist Aisha Bowe, STEMBoard is an award-winning DC-based tech powerhouse specializing in professional advisory services for elite organizations in the US government. “This remarkable achievement is a testament to the innovative spirit, expertise, and dedication of our team at STEMBoard, as well as the outstanding capabilities of our esteemed partners,” Bowe commented on
Black Tech Week, an inclusive tech conference focused on empowering entrepreneurs of color, is set to return to Cincinnati from July 18–20. “There isn’t a single DEI talk at Black Tech Week. That’s by design,” Brian Brackeen shared on Twitter. “‘No DEI talks’ are something that we are proud of.” Brian Brackeen is the founder of facial recognition software company Kairos and managing partner at Cincinnati-based venture capital fund Lightship Capital, which invests in companies led by underepresented founders. He is also the organizer of Black Tech Week. “Black Tech
Prioritizing affordability, inclusivity, and leveraging technology, Black-owned insurance tech unicorn Marshmallow is challenging traditional insurance practices and extends coverage to underserved communities. Now, Marshmallow has landed a £15 million 3-year revolving credit facility from Triple Point Private Credit, one of the largest non-bank lenders in the UK, to expand its product offerings. “[We] are excited to be working with a management team that have successfully launched and scaled an insurance business so impressively,” said Triple Point’s Head of Structured Finance, Gavin Maitland Smith, per Tech Funding News. “More importantly, their
A Kenyan court has ruled that Meta is the primary employer of content moderators involved in a lawsuit against the social media giant and is prohibited from laying them off until the case is resolved. In March, the moderators, who worked for Meta’s content review partner, Sama, filed a lawsuit accusing Meta, Sama and a second subcontractor, Majorel, of union-busting operation masquerading as a mass redundancy. Meta sought to dismiss the case, arguing that it was outside the jurisdiction of Kenyan courts. However, the court rejected Meta’s claim and asserted its
