Intron Health, a clinical speech-recognition startup, recently raised $1.6 million in a pre-seed round led by Microtraction, with participation from several other venture firms. Founded by Tobi Olatunji, the company aims to bridge the gap in speech-recognition tools for speakers of minority languages, those with thick accents, or speech disorders. Bridging the Speech Recognition Gap Voice recognition technology is increasingly integrated into modern living, yet it often fails to serve those with thick accents or speech disorders. Olatunji, founder and CEO of Intron Health, is addressing this issue as he
The African startup ecosystem has witnessed a surge in investment, crossing the $1 billion mark in 2024, according to The Big Deal. This milestone was achieved faster than anticipated, due to several significant deals announced in July. Notably, d.light secured a $176 million securitization facility, and MNT-Halan raised $157.5 million for its expansion efforts. These, along with NALA’s $40 million Series A and other smaller deals, have pushed July 2024 to become the most successful month in African startup fundraising in over a year, amassing nearly $400 million. This figure
Plaiced, a growing online social network, has acquired Clutch, a Black women-founded marketplace for digital marketing services. The acquisition marks a shift in the digital marketing industry, promising enhanced opportunities for content creators and brands alike. Clutch: Connecting businesses with creators Co-founded by Madison Long and Simone May in 2020, Clutch has connected numerous creators with businesses seeking marketing and content creation services. The company had secured $1.2 million in pre-seed funding led by Precursor Ventures and had worked with over 70 brands, including Hearst Media. “The creator economy is
Meta, the tech giant formerly known as Facebook, is under scrutiny for using public Instagram posts to train its generative AI model without notifying users in Latin America, according to Rest of the World. The company’s decision has particularly impacted artists in the region, who rely heavily on social media to showcase their work but cannot opt out of this data usage. Lack of Notification and Opt-Out Options On June 2, many Latin American artists discovered that Meta had not informed them about its plans to use their public posts
London-based fintech startup Jarvis has secured £1.8 million ($2.3 million) in funding to transform retirement planning. The funding round was led by Ascension VC and Cornerstone VC, with additional participation from Tokio Marine Future Fund. This capital injection will support Jarvis’s growth and product development as it integrates with the broader ecosystem of pension-related services. Addressing The Retirement Planning Gap In today’s workforce, financial autonomy is on the rise, with the global shift towards self-employment and gig economy work has made traditional workplace benefits like pensions increasingly inaccessible. Projections indicate
CityRock has announced the closing of its $24 million Fund II to support founders from diverse backgrounds. This fund, part of H/L Ventures, will invest in companies within sectors such as climate, healthcare, and the future of work. Expanding Support for Series A Companies CityRock’s new fund marks a step in H/L Ventures’ mission to provide support and investment for its portfolio companies. According to Oliver Libby, co-founder and managing partner of H/L Ventures, the average investment size for CityRock Fund II will be $1 million. The fund, currently being
Runway AI, a multi-billion dollar company, has been training its AI video tool, Gen-3, on thousands of YouTube videos without permssion, 404 Media has revealed. Among the videos used were over 1,600 from tech influencer Marques Brownlee (MKBHD). The exposé follows an investigation by Proof News, copublished with Wired, which found that tech firms including Apple, Anthropic, Nvidia, and Salesforce had training their AI systems on subtitle data from more than 170,000 YouTube videos. Runway Secretly Trained On YouTube Videos In June, Runway AI launched Gen-3, initially called Jupiter, which received high praise
The UK government has announced plans to introduce legislation requiring companies with 250 or more employees to disclose their ethnicity and disability pay gaps. This move, part of Prime Minister Keir Starmer’s agenda for the upcoming year, was unveiled by King Charles III and signals a significant shift towards greater workplace equality. Extending Equal Pay Rights The proposed race and disability equality bill will, for the first time, mandate British businesses to report on the pay disparities affecting ethnic minority and disabled workers. Previously, companies were only required to report
Former NFL quarterback and activist Colin Kaepernick has announced the launch of Lumi, an AI-powered storytelling platform. Lumi aims to change the storytelling process, allowing individuals to create, publish, and monetize their stories regardless of their skill set. The platform offers end-to-end story creation, simple AI tools, and both physical and digital publishing options, making it easier for creators to bring their stories to life. With the added benefit of built-in merchandising, creators retain full ownership of their work, bypassing traditional industry gatekeepers. Addressing Gaps in Storytelling Kaepernick’s inspiration for
POSH, the app designed to enhance social experiences, has successfully raised $22 million in a Series A funding round. This milestone was achieved with investments from Goodwater Capital, FirstMark Capital, Companyon Ventures, and Epic Ventures, alongside existing investor Day One Ventures. Pioneering Real-Life Social Experiences Founded by Avante Price and Eli Taylor-Lemire, POSH has already made strides, amassing over 2 million users and facilitating more than $95 million in ticket sales. The app has seen a 1400% year-over-year increase in matching attendees to relevant events, showcasing its growing influence in
