Richualist founder Dawn Myers has secured investment from business figures Mark Cuban and Emma Grede on Shark Tank for her hair tool for textured hair. The washday styling tool Myers’ product, The Mint, is designed to detangle, condition, and style curly to coily hair types (classified as 3A to 4C). The hair tool includes six attachments and is designed to simplify and enhance styling. The technology used heats liquid hair products to optimize their effectiveness, addressing the often complicated and time-consuming nature of managing highly textured hair. “You simply load your pod; think
Zuri, a Pan-African beauty startup, has achieved its first institutional tech investment from Launch Africa Ventures. Zuri’s Journey So Far Founded in 2016 by Gisela Van Houcke, Zuri has evolved from Van Houcke selling products from her car to a tech-driven powerhouse. The startup distributes beauty products such as hair extensions and cosmetics while aiming to empower Black women entrepreneurs and customers. Zuri offers a wide range of culturally relevant beauty products distributed through a hybrid model of physical salons, e-commerce, and social channels. The company has also developed a software platform
Last month, US payrolls soared in and the unemployment rate dropped, however, the opposite was true for Black Americans, especially Black women. Unemployment For Black Women Black unemployment rates have surged reaching a peak not seen since August 2022. As per the latest Labor Department data, the overall unemployment rate for Black Americans climbed to 6.4% in March 2024, up from 5.6% in February. The three-month average unemployment rate for Black people has risen to 5.8%, up from 5.4%. However, the overall shift is mainly seen among Black women, who have experienced employment
American Screening, a drug and medical testing supplies distributor in Louisana, has agreed to pay $50,000 to settle a race discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC). The case centered around Imani Jackson, a Black employee who was fired after she decided to wear her natural hair to work. Fired over her wearing natural hair Imani Jackson’s daily routine involved spending 45 minutes each morning concealing her natural hair under a cap and gluing on a wig with straight hair. This routine wasn’t just time-consuming; it
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
Camelback Ventures has announced Shawna Young’s appointment as its new Chief Executive Officer (CEO), starting in early April 2024. Camelback Ventures Camelback Ventures is a New Orleans-based nonprofit social venture fellowship that aims to increase access to opportunity for entrepreneurs of color and women. Founded by Aaron T. Walker in 2015, Camelback Ventures has supported over 133 undervalued entrepreneurs with social impact ventures around the country. Its business model involves providing its Fellows with the “friends and family” stage of funding. The Fellows then reinvest in Camelback through grants or convertible notes. Meet
