Boston Celtics guard Jaylen Brown is aiming to recreate the historic Black Wall Street in Boston with his nonprofit organization Boston XChange (BXC). At 27, Brown is launching BXC that will be dedicated to building generational wealth within Black and Brown communities. In collaboration with Harvard Business School, Roxbury Community College, and teammate Jrue Holiday’s JLH Fund, BXC is offering up to $250,000 in total grant investments. The selected grantees will receive three years of coaching and mentorship, aimed at creating sustainability and culturally competent initiatives. Addressing Wealth Disparity in
FOSSA, a leading open-source compliance and security platform, has acquired StackShare, a developer community platform. The move aims to bridge the gap between compliance, security, and developer tools, impacting over 1.5 million developers who use StackShare to share and discuss their tech stacks. Integration of Developer Tools and Security FOSSA, valued at over $100 million, started as a tool to help developers manage open-source licenses. Over the years, it has evolved to offer security vulnerability management and Software Bill of Materials (SBOM) management. This expansion has positioned FOSSA as a
Last year, Databricks acquired MosaicML, renamed Mosaic AI, a Black co-founded generative AI (genAI) startup know for its cutting-edge large language (LLMs) models. Building on both companies vision of making genAI accessible for all organizations, Databricks’ Mosaic team has since developed DBRX, one of the fastest and highest-performing LLMs available. Democratizing deep learning Co-founded by Jonathan Frankle PhD ’23 and MIT Associate Professor Michael Carbin, MosaicML started with the mission to make AI models more accessible. The startup developed a platform where users can train, improve, and monitor open-source models
Goodie Nation, an organization dedicated to empowering Black tech professionals, has secured over $150,000 in grants from the Kapor Center, Emory Philanthropy Lab, and the Community Foundation for Greater Atlanta’s GoATL Economic Inclusion Fund. This funding will enhance the ATL BLK TCH program, which aims to foster a robust and interconnected Black tech community in Atlanta. Building Bridges in the Black Tech Community The ATL BLK TCH program is designed to help Black tech professionals in Atlanta, offering a platform for networking, mentorship, and growth. With the new influx of
Plaiced, a growing online social network, has acquired Clutch, a Black women-founded marketplace for digital marketing services. The acquisition marks a shift in the digital marketing industry, promising enhanced opportunities for content creators and brands alike. Clutch: Connecting businesses with creators Co-founded by Madison Long and Simone May in 2020, Clutch has connected numerous creators with businesses seeking marketing and content creation services. The company had secured $1.2 million in pre-seed funding led by Precursor Ventures and had worked with over 70 brands, including Hearst Media. “The creator economy is
CityRock has announced the closing of its $24 million Fund II to support founders from diverse backgrounds. This fund, part of H/L Ventures, will invest in companies within sectors such as climate, healthcare, and the future of work. Expanding Support for Series A Companies CityRock’s new fund marks a step in H/L Ventures’ mission to provide support and investment for its portfolio companies. According to Oliver Libby, co-founder and managing partner of H/L Ventures, the average investment size for CityRock Fund II will be $1 million. The fund, currently being
POSH, the app designed to enhance social experiences, has successfully raised $22 million in a Series A funding round. This milestone was achieved with investments from Goodwater Capital, FirstMark Capital, Companyon Ventures, and Epic Ventures, alongside existing investor Day One Ventures. Pioneering Real-Life Social Experiences Founded by Avante Price and Eli Taylor-Lemire, POSH has already made strides, amassing over 2 million users and facilitating more than $95 million in ticket sales. The app has seen a 1400% year-over-year increase in matching attendees to relevant events, showcasing its growing influence in
Uncover, a Kenyan data-driven skincare brand, has successfully closed a $1.4 million seed II funding round to accelerate the growth of its innovative tech platform, introduce new products, and expand its market presence. This round, co-led by EQ2 Ventures and IgniteXL Ventures, saw participation from notable investors such as Chui Ventures, Samata Capital, and Altree Capital. Driving Personalization Through Data Founded in 2021 by Sneha Mehta (CEO), Jade Oyateru (COO), and Catherine Lee, Uncover has distinguished itself in the beauty industry by focusing on the unique skin care needs of
Protexxa, a cybersecurity startup, has successfully secured $10 million Canadian dollars ($7.2 million USD) in Series A funding, the largest round ever raised by a sole Black woman founder in Canada. Claudette McGowan, a renowned information technology and cybersecurity executive, founded Protexxa with a vision to enhance global cyber defenses through improved personal cyber hygiene. Innovating Cybersecurity with AI-Powered Solutions Protexxa’s flagship platform, Protexxa Defender, uses AI to quickly identify, evaluate, and resolve cyber issues. The platform addresses a need in the cybersecurity landscape, where 90% of cyber attacks are
Wray & Nephew held their Wray Forward Pitch Night this week featuring a number of Black-owned businesses from AI music sampling to the world’s first Nigerian tapas restaurant in London. Wray Forward The Wray Forward Pitch Night saw six Black founders take to the stage to showcase their businesses and pitch to a panel of expert judges to secure grants to help their businesses grow. Part of the brand’s ongoing Wray Forward activity is in partnership with Foundervine – a program supporting Black businesses through funding, educational workshops, mentorship and
