Mae Health Inc., a pioneering startup focusing on minority health, has closed an oversubscribed seed funding round led by Jumpstart Nova. This investment will enable Mae to expand its tech-enabled services and tackle the significant disparities in Black maternal health outcomes. The funding round saw contributions from a variety of investors, including the Astia Fund, Impact Engine, Joyance Partners, and Gratitude Railroad, alongside early backers like RH Capital and Bright Ventures. Tech-Enabled Solutions for Maternal Health In response to the maternal mortality rates and the prevalence of maternity care deserts,
Acclinate, a Birmingham, Alabama-based healthcare technology company, has completed a $7 million Series A funding round. The funding round, led by Cencora Ventures and supported by Labcorp and Latimer Ventures, aimed to enhance Acclinate’s efforts to promote health equity and transform the inclusivity of clinical trials. Transforming Clinical Trials through Trust and Technology Acclinate’s strategy aims to build trust and foster long-term relationships with diverse communities. Their digital platform, NOWINCLUDED, is designed to educate and engage underrepresented groups in clinical trials, ensuring their inclusion in medical research. The platform serves as an educational tool while
Fanbase, a social media platform used to monetize content creation, has reached $10 million through equity crowdfunding, setting the stage for a $17 million campaign. Fanbase’s Crowdfunding campaigns The funding has reportedly marked founder Isaac Hayes III as the first Black man to accomplish this feat in a Regulation Crowdfunding campaign via StartEngine. Hayes created Fanbase to enable Black creators to cultivate their audiences and monetize their contributions effectively. According to a press release, Fanbase had raised over $10 million from three crowdfunding campaigns and 14,000 over investors via StartEngine. The company recently
Marcy Venture Partners (MVP), co-founded by “Jay-Z” Carter, is reportedly nearing a significant merger with Pendulum Holdings’ investment arm Merger Talks According to Bloomberg, the merger could create a new entity with over $1 billion in assets under management. Sources close to the discussions, who preferred to remain anonymous, have indicated that the merger between these two California-based powerhouses is almost finalized. Both entities have declined to comment on these speculations. Culture-driven investments Marcy Venture Partners, established in 2018 by Jay-Z alongside Jay Brown and Larry Marcus, has demonstrated an eye for culture-driven investments. Its
Generative Artificial Intelligence (GenAI) is rapidly becoming a vital tool for U.S. microbusinesses, particularly among Black owners who are adopting these technologies at impressive rates. According to GoDaddy’s Venture Forward 2024 survey, approximately 50% of microbusiness operators have experimented with GenAI tools recently. This statistic is even more significant among young and Black microbusiness owners, who are 50% more likely to leverage GenAI compared to their white counterparts. A Tool for Leveling the Playing Field The Venture Forward survey highlights that 44% of micro businesses see GenAI as a game-changer, allowing
Audible has recently welcomed four new minority-owned businesses into its Newark, NJ-based Business Attraction Program. The initiative, launched in August 2023, aims to bolster the local economy by supporting startups through financial backing and expert mentorship. Empowering Diverse Founders The focus on minority-owned companies, especially those led by Black women, comes at an important time. Nationally, Black-owned businesses receive one percent of venture funding. Audible’s program seeks to change this disparity by offering each company up to substantial non-dilutive grants of $250,000. These funds are allocated for office space, relocation, and local
Celebrity journalist Brownie Marie has launched a new dating app, ‘The Fox Hunters Club,’ for millennial women seeking older men. Marie is best known for her interviews with celebrities in film, fashion, and music over the past decade. Her day job as a tech executive for startups in Silicon Valley and New York City helped her in the launch of the new tech platform. The Fox Hunters Club The Fox Hunters Club is for women seeking relationships with older men; however, it clearly states that it is not an app for sugar
British legal tech company Definely has raised a $7 million (£5.6 million) Series A investment round to advance its GenAI proposition that helps draft, edit, and understand legal documents. Last year, the Microsoft- and Google-backed company released Vault. This tool leverages AI and OCR technology to analyze and extract key information and clauses from an organization’s internal contract repository. Vault then makes this information readily available to users directly within their documents, exactly when and where it’s needed. One Of The 50 Fastest-Growing Tech Companies In The UK Founded by two former
Microsoft Corporation has decided to close the engineering section of its Africa Development Center (ADC) in Lagos, just two years after its inception. Economic Instability Leads to Closure The decision to shut down the ADC in Lagos adds to Nigeria’s broader economic challenges, including a persistent currency crisis, dollar shortages, and high inflation. These factors have impacted business growth and diminished consumer purchasing power, prompting companies like Procter & Gamble, GSK, and Bayer to overhaul their African strategies. “Microsoft has decided to close the Africa Development Centre in Nigeria, and
Reddit Co-Founder Alexis Ohanian took to X, formerly Twitter, to thank Snoop Dogg for being one of the platform’s earliest investors during its spin-out and turnaround. Reddit Reddit, a social media platform and online community, ranks among the top 20 most visited sites worldwide and went public in March 2024. American internet entrepreneur and investor Ohanian is best known as the platform’s former executive chairman and co-founder, along with Steff Huffman and Aaron Swartz. He is also the husband of tennis legend and venture capitalist Serena Williams. Huffman and Ohanian began building Reddit for fun while roomates
