The Black Farmer Fund (BFF) is raising $20 million for its second fund, BFF Fund 2.0, aimed at strengthening the Black food system across the Northeast. BFF is a community-driven investment fund that supports Black agricultural and food businesses to build a more equitable food system. This milestone will provide financial support to Black-owned agricultural and food businesses, with $2 million of the integrated capital fund already invested in four innovative enterprises. The fund is part of BFF’s mission to create a sustainable, equitable food system by offering patient, low-interest
Red Lobster, the iconic seafood chain, has officially exited Chapter 11 bankruptcy following its acquisition by RL Investor Holdings LLC, a group backed by Fortress Investment Group. The company has named 35-year-old Damola Adamolekun as its new CEO, marking a milestone in both the restaurant’s history and the career of this rising Black business leader. New Leadership Ushers in a Fresh Chapter for Red Lobster With a new ownership structure in place and fresh leadership at the helm, Red Lobster is positioning itself for a comeback. Adamolekun, who previously served
This article is sponsored by Morgan Stanley Inclusive Ventures Lab The Morgan Stanley Inclusive Ventures Lab (MSIVL) is proving that inclusion really does fuel innovation. Since 2017, Morgan Stanley’s in-house startup accelerator has helped over 100 companies raise over $200 million and reach a collective valuation of more than $1 billion. MSIVL provides early-stage technology and technology-enabled startups with $250,000, handpicked mentors, custom curriculums in finance, sales, and marketing, and a coveted opportunity to pitch to investors following their five-month accelerator participation on a Demo Day, setting founders up for
Rapper and entrepreneur 2 Chainz has joined PepsiCo to launch “Taste of Tomorrow,” a new initiative aimed at addressing the underrepresentation of Black professionals in Science, Technology, Engineering and Math (STEM) careers. Boosting Black representation in STEM Despite STEM fields experiencing rapid growth, Black professionals currently make up just 9% of the workforce. The “Taste of Tomorrow” initiative aims to break down the systemic barriers Black students face in pursuing STEM careers, such as limited access to advanced coursework and public programming. Rapper and entrepreneur 2 Chainz, a HBCU alum,
Y Combinator-backed startup DryMerge has raised $2.2 million in seed funding to bring automation to non-technical users through plain English chat. Expanding Automation Beyond Programmers Founded just a year ago, DryMerge initially focused on using AI to automate API integrations for developers. Now, the company aims to simplify repetitive tasks for users without coding experience. DryMerge allows users to automate workflows via plain English chat, bypassing the complexities of traditional no-code tools like Zapier or Make, which are still primarily used by people with coding experience. “We’re making the process
Every year, MIT highlights young leaders worldwide who are making a difference through research and entrepreneurship. This year’s innovators are tackling issues in biotechnology, the climate sector, robotics, and more. Chosen from hundreds of nominees by expert judges and the MIT Technology Review editorial team, these trailblazers are changing the future of science and technology. Here, we’ve highlighted some of the Black and Brown innovators featured on the MIT 2024 Under 35 List. Mireille Kamariza, University of California, Los Angeles Mireille Kamariza, 35, developed a groundbreaking test that detects tuberculosis
Kredete, a Nigerian fintech platform, has raised $2.25 million in seed funding, enhancing its ability to serve African immigrants in the U.S. The funding round, led by Blockchain Founders Fund (BFF), also included investors like Techstars, Tezos Foundation, Polymorphic Capital, among others. Kredete’s mission is to help African immigrants build credit while simplifying remittances, transforming how they send money home. Addressing Financial Barriers for African Immigrants Kredete’s innovative approach has attracted a user base of over 300,000 and processed transactions exceeding $100 million. The platform allows immigrants to send money
In recognition of World Suicide Prevention Day 2024, it’s important to highlight the growing mental health needs within Black communities. Studies show that Black adults are 20% more likely to experience serious mental health issues, such as depression and anxiety, compared to the general population. Despite this, only about 25% of Black individuals seek mental health care, largely due to stigma, cultural barriers, and lack of access to culturally competent providers. In response, several apps and startups are working to close this gap, offering tailored support to meet the mental
TIME has unveiled its second annual TIME100 AI list, recognizing 100 of the most influential figures shaping the future of artificial intelligence. The 2024 edition features leaders across a wide range of industries, from tech and business to entertainment. Among those highlighted are Lisa Su, CEO of AMD, Jensen Huang of NVIDIA, and actor Scarlett Johansson, showcasing how AI is influencing sectors beyond traditional tech. Accompanying the list are exclusive interviews with industry pioneers like Google CEO Sundar Pichai and author Ray Kurzweil, underscoring the far-reaching impact of AI on
TikTok has announced the formation of its inaugural Sub-Saharan Africa Safety Advisory Council, an initiative aimed at ensuring user safety across the region. This council, the first of its kind for a tech platform in Sub-Saharan Africa, was launched in Nairobi, Kenya. A Regional First for Tech Safety With millions of Africans using the platform for creativity and self-expression, the new council brings together independent experts across various fields, from youth safety to combating hate speech, to help shape policies that maintain TikTok’s reputation as a safe online environment. The
