Lagos-based fashion and beauty e-commerce platform Maka has raised $2.65 million in a pre-seed funding round led by Pan-African venture capital firms 4DX Ventures and Janngo Capital. Other contributors include Palm Drive Capital, angel investor Jonathan Shipman, and executives from delivery platform Wolt. Maka Maka empowers trusted creators to live-stream and sell directly to their audiences. The platform allows shoppers to purchase through live-streams, on-demand videos, or online catalogs. Founded in 2021 by Diana Owusu-Kyereko, former CEO of Jumia Ghana and ex-CCO of Jumia Kenya, Maka originated as an interactive social commerce platform. During the
Twin Health has secured $50 million in funding for its AI-driven personalized healthcare tech that aims to prevent and reverse chronic health diseases like diabetes. Temasek led the Series D funding round with the participation of existing investors ICONIQ Growth, Sofina, Peak XV, and Helena. Twin Health was co-founded in 2018 by Jahangir Mohammed (CEO), also the founder of Jasper and Kineto Wireless, and Terry Poon (CTO). A whole-body digital twin Central to Twin Health’s mission is the Whole Body Digital Twin™ – an innovative, AI-driven healthcare platform that composes
Black professionals are now being promoted into managerial roles at rates reminiscent of 2019, a recent McKinsey & Co. study has revealed. The findings signal a concerning erosion of progress made in the aftermath of George Floyd’s murder and widespread corporate diversity, equity, and inclusion (DEI) commitments. The Erosion of Progress The study, which analyzed promotion rates from over 270 companies employing over 10 million people, paints a disheartening picture. Promotions for Black professionals, especially women, have fallen significantly. In 2022, for every 100 men of all races promoted into
Digital news platform UrbanGeekz has unveiled UrbanGeekz 50, its inaugural list of Black disruptors who are leaving a mark on the innovation economy. Presented by Atlanta-based MHR International, the list spotlights gamechangers in tech, venture capital, and entrepreneurship and is set to become an annual tradition. Industry gamechangers The largest category on the list is ‘Community Builders & Ecosystem Warriors,’ showcasing founders and leaders such as those from Goodie Nation, Black Women Talk Tech, and The Gathering Spot. The Venture Capital category brings together familiar names for POCIT readers, such
New York-based fintech startup Comun is redefining the bank experience for Latine immigrant communities in the US and reimaging local banking for the digital world. Founded in 2021 by Andres Santos, CEO, and Abiel Gutierrez, CTO, both of whom experienced financial exclusion upon migrating to the US, Comun has secured $9 million in funding to date. Banking Disparities in the Latine Community The Latine population contributes a staggering $3.2 trillion to the US GDP. This makes it the world’s fifth-largest economy, more than the GDPs of India, the UK, and
Pika, the company redesigning the entire video-making and editing experience with AI, is making its public debut. The launch comes alongside the announcement of its $35 million Series A round led by Lightspeed Venture Partners. “Our vision for Pika is to enable everyone to be the director of their own stories and to bring out the creator in each of us,” stated the company in a blog post. “Today, we reached a milestone that brings us closer to our vision.” An Idea-to-video platform Founded by Demi Guo, CEO, and Chenlin Meng,
Blockchain research and development lab Polytope Labs aims to transform Africans from consumers to creators in the blockchain space. Founded by Nigerian engineers Seun Lanlege and David Salami, Polytope Labs’ first product is Hyperbridge, a cross-chain protocol designed to facilitate secure communication between blockchains. Africa’s Crypto Adoption and Consumption African countries have some of the highest rates of grassroots crypto adoption among everyday people. However, the continent has mostly been a consumer rather than a builder of blockchain technology. Lanlege drew on his experience of helping to build the Ethereum and Polkadot networks to establish Polytope Labs with David
Vanessa Kingori OBE, chief business officer at Condé Nast Britain and Vogue European business advisor, is set to leave the media giant to join Google in 2024. Among her many accolades, the Kenya-born media mogul was the first Black publisher for Condé Nast Britain and the first woman publishing director in British Vogue’s 105-year history. Top role at Google Her new position as Managing Director of Tech, Media, and Telecoms at Google marks a strategic shift for the accomplished executive. She forms part of a trio of female senior executive hires. “We
Apple has agreed to pay $25 million to resolve allegations of illegal discrimination in its hiring and recruitment processes. The Department of Justice (DOJ) accused Apple of violating anti-discrimination laws, specifically related to its permanent labor certification program (PERM), which enables companies to hire foreign workers permanently in the US. The allegations The DOJ investigation found that Apple favored current employees holding temporary visas who sought permanent positions, creating barriers for other applicants. “Apple did not advertise positions Apple sought to fill through the PERM program on its external job
The New York City Economic Development Corporation (NYCEDC) has announced the launch of the Venture Access Alliance. Comprising over 70 investors, the Alliance aims to build a more inclusive tech startup ecosystem in New York City. A more inclusive startup ecosystem New York City is the second largest tech ecosystem in the world. Over 30% of businesses in the city are minority-owned, and there has been a noticeable surge in Black-owned businesses. The Alliance is part of NYCEDC’s broader Venture Access NYC program, which aims to increase diversity in the city’s startup
