Afro Unicorn has announced its expansion into immersive gaming platform Roblox. Founded in 2019 by April Showers, Afro Unicorn is a brand designed to represent the uniqueness of women and children of color in a truly diverse and inclusive fashion. “Bringing Afro Unicorn to Roblox is a momentous occasion to positively impact a new generation of youth, including digital trendsetters and innovators,” said Showers in a press release. Creating Afro Unicorn Showers’ journey to creating Afro Unicorn was sparked by a desire to see more inclusive representations of beauty and empowerment.
Verod-Kepple Africa Ventures (VKAV) has announced the closure of its first fund at $60 million. A Pan-African Vision with Global Backing VKAV is a collaborative effort between West African private equity firm Verod Capital Management and Tokyo-based venture capital firm Kepple Africa Ventures. Notably, the fund includes backing from Japanese powerhouses such as SBI Holdings, Toyota Tsusho Corporation, and Sumitomo Mitsui Trust Bank. Nigeria’s SCM Capital and other institutional investors from Japan, including Taiyo Holdings also contributed. VKAV’s investment strategy focuses on digital infrastructure builders, efficiency solvers, and market creators.
Last week, Grammy-nominated artist Bryson Tiller released his self-titled fourth studio album, his first LP in four years. However, fans may have to wait even longer for his next release as the 31-year-old plans to take a hiatus from music to focus on video game design. From music to game design In an interview with Complex, Tiller shared he would be taking hiatus from music to focus on his passion for video game design. “I would love for this [album] to be the last one for a while,” Tiller shared.
Nearly 60% of Black small- and mid-sized business (SMB) owners on TikTok say that the app is critical to their business’ existence, a new Oxford Economics report has found. TikTok’s Value For Small businesses Oxford Economics, in collaboration with TikTok, sought to understand the app’s economic value for local communities across the US. It surveyed 1,050 SMBs and 7,500 users in 2023 to gauge interactions and benefits derived from the app. Small and medium businesses generated $14.7 billion in revenues and supported 224,000 jobs on TikTok supported 224,000 jobs, the
In the first quarter (Q1) of 2024, Africa’s startup scene saw another year-on-year and quarter-on-quarter dip in investments – with a notable exception in the mobility and fintech sectors. A drop in funding According to Africa: The Big Deal, Q1 saw $466 million raised through $100k+ deals by 121 startups (excluding exits). This is a 27% decrease from the previous quarter and only half of the amount raised at the same time last year. Techpoint Africa’s analysis of data from Intelpoint notes a 62% drop in African tech startup funding compared
NASA has announced the first winners of its Space Tech Catalyst prize, which aims to engage more underrepresented and diverse individuals in space tech. The initiative is part of NASA’s broader commitment to fostering a more inclusive environment. Each Space Tech Catalyst prize winner receives $25,000 to contribute to creating a more inclusive space technology ecosystem. “As NASA continues to explore the unknown, making the impossible possible, we are committed to engaging talents from all backgrounds to advance exploration,” said Shahra Lambert, NASA’s senior advisor for engagement, in a press statement.
Last year, African startups raised $2.9 billion in deals worth $100,000 and above (excluding exits). Although this amounts to a 39% drop compared to 2022, the continent is showing signs of resilience. Shifting investor landscape In 2023, Techstars was the top investor with 56 deals, surpassing Launch Africa. Other key players included Founders Factory Africa, Ventures Platform, Norrsken, and Y Combinator. All but Norrsken did fewer deals in 2023 than in 2022. For example, YC added only 12 African startups to its 2023 cohorts, compared to 43 in 2022 and
Venture capital (VC) funding for Black entrepreneurs in the US has been decreasing since a peak following George Floyd’s murder in 2020. In 2023, Black founders in the US got only 0.48% of all venture dollars, about $661 million out of $136 billion, TechCrunch reports. This is the lowest in recent years. Peak funding in 2021 In 2020, Black founders received 0.6% of venture funding. By the first half of 2021, funding to Black entrepreneurs in the US reached nearly $1.8 billion, a fourfold increase compared to the same time
In a striking turn of events, the renowned rapper Snoop Dogg’s ad campaign for Solo Stove backfired, resulting in the exit of the company’s CEO, John Merris. The campaign, which cleverly hinted at Snoop Dogg giving up smoking, ultimately failed to boost sales as expected. The “Smokeless” Campaign In a bold marketing move, Solo Brands aired a commercial in which Snoop Dogg announced he was “giving up smoke,” leading many to believe he was quitting his well-known affinity for weed. However, the ad was a clever ruse for Solo Stove,
In today’s tumultuous tech world, internships and co-op programs are essential for Black and Brown students eager to make their mark. We’ve handpicked some of the internships and co-ops you should apply for on POCIT! But first, some FAQs: Why do an internship or co-op? Internships and co-ops are more than just resume-fillers. They’re about hands-on learning in a professional environment. You can team up with full-time professionals who mentor you on actual projects. Enjoy office resources, attend talks and social events, and dive into work that excites you. Link up
