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Olympian Allyson Felix‘s footwear brand Saysh, co-founded by her brother and business partner Wes Felix,  has secured an $8 million investment in its series A funding round.  The funding round led by Iris Ventures, with participation from Redpoint Ventures saw Gap Inc. acquire an equity stake in Saysh. Additionally, Athleta, a subsidiary of Gap Inc., has agreed to showcase Saysh footwear on their website in partnership with the footwear brand. The news comes after Allyson Felix announced her departure from Nike in 2021, due to claims the company was not doing enough to support pregnant female athletes and

Shonda Rhimes and Netflix are partnering on The Producers Inclusion Initiative and The Ladder. These are two new and paid programs to expand opportunities for emerging creatives in TV and film, according to The Hollywood Reporter. Both initiatives are a part of Rhimes’ commitment to expanding the representation of those in front of and behind the camera and they are also underwritten in part by Netflix’s Fund for Creative Equity. According to a post from Netflix back in February, “the Fund has already committed $14.5 million toward programs that help

Small businesses are feeling the pressure of economic challenges, from navigating inflation to supply chain management and beyond, placing an increased need for financial relief. According to a survey conducted in January 2022, Black-owned businesses hit record levels of lower sales, with more than half reporting lower sales than in the previous year. To combat the issues experienced by their businesses, the Coalition to Back Black Businesses (CBBB) was established by American Express and the U.S. Chamber of Commerce Foundation in September 2020 to support the long-term success and resilience

ANJEL Tech, a Black-owned cloud-based application that turns any smartphone into your personal body cam, has announced a historic partnership with 1 Million Madly Motivated Moms (1M4), an organization led by African American moms to address police brutality through legal action and legislative policy education. We previously interviewed the founder of ANJEL Tech, who told POCIT that he’d struggled to get attention from mainstream reporters and investors when it came to his app. The app in question has been described as an initiative that “could help protect minorities.” When activated, the

The nation’s largest beauty retailer, Ulta Beauty, is now accepting applications for its MUSE Accelerator, an inaugural program dedicated to supporting early-stage BIPOC beauty brands to launch and thrive in retail. Officially starting in September, eight successful applicants will receive $50,000 in financial support to propel brand development in addition to resources designed to prepare each for retail readiness and long-term success. This will include opportunities to learn from experts across various industries such as merchandising, supply chain, legal, and marketing, as well as brand founders and industry leaders’ engagement

E-commerce platform Gander announced today the closing of a $4.2 million seed round co-led by Harlem Capital and Crossbeam Venture Partners. Gander, which collects and embeds user-generated video content into retail sites so shoppers can see what a product looks like in real life, was launched in late 2021. It also has a creator marketplace, which gives brands direct access to the video content. This round adds the startup’s founder Kimiloluwa Fafowora, 26, to the growing list of Black women who have raised $1 million or more in VC funding.

Lagos and San Francisco-based Klasha has received an additional $2.1 million to complete its $4.5 million seed round. The startup, which provides multiple products for the cross-border commerce space in Africa, raised this new financing from a group of international investors co-led by American Express Ventures, the strategic investment group of American Express. The round also included Global Ventures, the MENA-focused VC that has backed the likes of Tabby, Helium Health, and Paymob. Jess Anuna first founded Klasha in 2018. At the time, the company’s focus was to make it easier for

Balancing entrepreneurship and childcare can be a daunting task, made worse by the pandemic. The rising costs of childcare in the UK and the USA are forcing an increasing number of primary caregivers – the majority of whom are women – to juggle both business and caring for their children. Thousands of childcare centers that closed temporarily because of lockdowns are still at risk of shutting permanently. These centers tend to be low-margin businesses with low levels of cash reserves and may not be able to reopen due to the additional expenses

Binance, the world’s largest cryptocurrency exchange, this week announced the news that it is linking up with the Canadian performer, The Weeknd, for his After Hours Til Dawn Tour to provide “an enhanced fan experience.” The so-called ‘experience will reportedly manifest in a number of ways, including via a collaboration with The Weeknd’s creative incubator HXOUSE to produce an exclusive NFT collection and co-branded branded merch. “Binance is all about the community, about people, about inclusion. I was impressed by their focus on users and innovative edge,” said The Weeknd. “It made perfect

Religion of Sports, the media production company founded by Gotham Chopra, Michael Strahan and Tom Brady, has raised $50 million in a Series B funding round led by Shamrock Capital and joined by Elysian Park Ventures and Cerro Capital. The Series B funding round brings the company’s total to $66 million raised over three rounds. Chopra told The Hollywood Reporter that the raise will be used to help “grow the company from the production company model, which is what we have operated in for a long time, to really controlling our own destiny. To really bet

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