Lucy Guo, a self-made millionaire and co-founder of the $7 billion-valued unicorn Scale AI, is making headlines again with her platform Passes, according to Fortune. Lucy Guo And Passes At 29, Guo has secured $40 million in Series A funding for her new venture, Passes, a creator monetization platform. Passes, previously used by Black Chyna, aims to revolutionize how content creators earn money. The $40 million round was led by the San Francisco-based Bond, spearheaded by Kleiner Perkins alums Mary Meeker and Mood Rowghani. Skims co-founders Emma and Jens Grede
UK-based Black woman-founded digital health startup SökerData, has been awarded a share of a £6.2 million ($7.8 million) grant from Innovate UK. SökerData Research has found that people of European genetic ancestry represent a disproportionate 80% of participants in genome-wide association studies (GWAS). By contrast, only 2% of participants have African genetic ancestry. This imbalance has profound implications, especially in diseases like breast cancer, where outcomes vary significantly across ethnicities. SökerData’s project focuses on building a diverse biomarker database, a critical resource in the realm of medical research. Biomarkers are
Tech entrepreneur Andre Swanston has become Connecticut’s first Black majority owner of a professional sports team. Meet Andre Swanston Swanston’s path to this milestone is a testament to his relentless work ethic, instilled by his father, an immigrant from St. Kitts and Nevis. Swanston ventured into the financial sector after obtaining a finance degree from La Salle University and a business degree from the University of Connecticut. He held positions at companies such as Ameriprise Financial and JPMorgan Chase & Co. However, his ambitions extended beyond the financial world. During the
Five Black entrepreneurs are behind “The Xchange,” a $40 million high-rise development project in Chicago’s South Shore neighborhood. The project aims to put the community first, with plans to offer competitive rent and integrate architecture, development, and entrepreneurship programs to benefit local youth. Meet The Team Jemal King, known as the “9-to-5 millionaire,” anchors the group with a tale of resilience and ambition. Despite his NFL dreams, King found his calling in real estate while serving as a police officer, a decision that led to significant success. His determination and
Black Tech Nation Ventures (BTN.vc), a venture firm based in Pittsburgh, has announced the final close of a $50 million inaugural fund. BTN.vc This fund specifically targets software startups led by founders from traditionally underrepresented backgrounds, including Black, Latinx, Indigenous, female, and LGBTQ+ entrepreneurs. BTN.vc’s founding in 2020 resulted from a collaboration between three serial entrepreneurs, Kelauni Jasmyn, David Motley, and Seán Sebastian. The focus addresses the long-standing issue of inequity in funding and anticipates significant returns within the venture industry. “We set up BTN.vc to equip and train a
Tesla has given $2,000 to The Giving Pies, a small Black woman-owned bakery in San Jose, following its cancellation of a significant pie order during Black History Month. The order, initially set for 2,000 pies and then doubled, was worth between $6,000 to $16,000. However, the cancellation left the bakery with a financial loss of approximately $2,000 and missed opportunities during Black History Month. Musk’s Intervention Voahangy Rasetarinera, the bakery owner, took to Instagram to detail the financial strain caused by Tesla’s decision. “To me, it was clear that Tesla’s
Recent data from Crunchbase reveals that there has been a disproportionate decline in venture funding for Black-founded startups in the United States. A Fall Below The $1B Threshold Last year, these startups secured only $705 million in funding, marking the first time since 2016 that the figure fell below the $1 billion threshold. This sharp decline of 71% in funding to Black-founded companies starkly contrasts with the 37% decrease in overall U.S. startup funding, highlighting a widening gap in investment allocation. This drop signifies a declining share of Black-founded startups
In honor of this year’s Black History Month theme, “African Americans and the Arts,” we are exploring the intersection of the Black arts and tech. We have curated a listicle of films that showcase how Black innovators have merged their artistic vision with technological processes. From the untold stories of African-American mathematicians in NASA to the futuristic visions of Afrofuturism, these films span a broad spectrum, reflecting the diversity and richness of Black contributions to technology. Hidden Figures This film tells the true story of three African American women working at
In Baltimore, a new social shopping platform, Xclusit, is transforming consumers’ engagement with Black-owned businesses. Vincent Johnson’s Journey Vincent Johnson, an Ellicott City-based entrepreneur and the CEO of Xclusit, crafted the platform to empower Black businesses. Johnson, a Vanderbilt University graduate with a master’s in divinity, initially focused on Black economics. His passion for entrepreneurship led him away from pursuing a PhD, instead dedicating himself to developing tech solutions that support Black-owned businesses. His journey in the tech world began with his first app, Coupify. Still, through direct engagement with
Chaymeriyia Moncrief, an Alabama native, has made a mark in the tech industry as the first Black woman to own a smart glasses brand. NSPRE Two years after founding Tesix Wireless Network, a millennial-focused wireless carrier., Moncrief launched NSPRE to ”inspire the culture through social technology“. From its inception in 2020, the brand swiftly progressed, raising $1.5 million in funding during its launch year. In June 2021, NSPRE established its headquarters in Alabama, reinforcing its foundation. NSPRE’s flagship product, the Smart Glasses, aims to represent a leap into the future of
