Partech, a global technology investment firm, has closed its second Africa-focused fund, Partech Africa, at over €280 million ($300 million). Partech Africa The achievement surpasses its initial target of €230 million, marking Partech Africa as the largest fund dedicated to African startups. Partech Africa partners with entrepreneurs who combine technology and operational excellence to address large opportunities across the continent. The African startup landscape experienced a downturn in investment activities in 2023, with venture capital inflows decreasing to between $2.9 billion and $4.1 billion. This contrasted the $4.6 billion to
Startup SocialCrowd has announced the securing a $1.6 million pre-seed funding round to expand its team and focus on customer acquisition. SocialCrowd Founders Raphael Akinsipe and Paul Doran are on a mission to optimize the world’s labor force through data and automation. The platform automatically tracks employee progress toward goals, reminds them of the work they have left, and rewards them instantly. Key to SocialCrowd’s appeal is its real-time tracking capability, which integrates seamlessly with existing productivity apps. “Many of our customers have large blue-collar shift teams; their staff was
Marvin Ellison, one of the world’s wealthiest Black CEOs, recently saw his company, Lowe Companies Inc, stock market value increase by $3.4 million in under one month. Who is Marvin Ellison? Ellison is the chairman, president, and CEO of the home-improvement giant, Fortune 500, Lowe’s Companies, Inc In 2022, Ellison made the rare distinction of being the only Black executive with CEO positions at two Fortune 500 companies. Before his role with Lowe’s, he held the CEO position with JC Penny and worked at companies like The Home Depot and
Media mogul Tyler Perry has announced the first series under his new multi-year first-look series deal with Netflix. The new arrangement with Netflix extends his exclusive film deal with Netflix in October 2023. Meet Tyler Perry Perry, who was named on Forbes’ list of “World’s 10 Highest-Paid Entertainers” for the second year running in 2023, is an American actor, filmmaker, and playwright. In October, Perry secured a first-look deal with Netflix for feature films, following his deal with Amazon Studios to write four features for Prime Video. To date, Perry’s
Women-led healthtech companies in Africa secured $52 million in funding in 2023, compared to just $2 million the year before, a report has found. The report by Salient Advisory shows findings on investment activity covering grant, equity, and debt investment for African healthtech startups in 2023. A Surge In Funding For Women-Founded Companies According to the 2023 Roundup Investments in African Healthtech report, gender financing gaps in African healthtech ecosystems narrowed in 2023. In 2022, women-founded companies received a mere $2 million, just 1.4% of all investment, but the following
To mark Black History Month, a new game titled “Guess, Jerry!” has made its debut on the App Store. Created by Microsoft Senior Software Engineer Michael Curd, the app pays tribute to Jerry Lawson, who shaped modern video gaming. Father Of Video Game Cartridge Jerry is an AI buddy inspired by video game legend Jerry Lawson, who was often named the “Father of the video game cartridge”. Lawson was one of the first prominent African American figures in the gaming industry. As chief hardware engineer for Fairchild Semiconductor, Lawson steered
Brennan Nevada Inc., reportedly New York’s only Black woman-owned PR and media agency for tech companies, has partnered with SoLo, the US’s largest Black-owned personal finance company. Building Brennan Nevada Inc Founded by Brennan Nevada Johnson in 2021, the agency has quickly established itself as a formidable force in the industry. Johnson, a descendant of Carter G. Woodson, the founder of Black History Month, channels her heritage into her work, emphasizing the promotion of Black and BIPOC stories in the tech world. Johnson’s background in journalism and experience in a
Beta Boom, a US-based venture capital firm, has announced the closure of its $14.5 million Fund II. Founded in 2017 by Kimmy and Sergio Paluch, Beta Boom is committed to bridging the funding gap experienced by underrepresented founders, particularly in areas beyond the major tech hubs. Beta Boom’s Fund II Beta Boom’s Fund II, raised by the duo, alongside Ally Bank, Melinda French Gates’ Pivotal Ventures, and Bank of America, signifies a pivotal shift in the venture capital landscape. The fund aims to support early-stage startups that cater to the
Black-owned, Philadelphia-based Win Win Coffee has launched a transformative technology platform to connect coffee farmers directly with buyers, creating a more ethical and streamlined process. Co-founded by Nikisha Bailey and Matthew Nam, Win Win Coffee has the vision to lead a coffee industry renaissance where every sip is a journey through the diverse narratives of the African diaspora. After Win Win Coffee was forced to close in 2020 due to pandemic restrictions, Bailey and Nam decided to source and produce their own brand of coffee. This gave them a look into the process of producing
An Atlanta-area Black-owned tech company founded by Derek Bailey hopes to change the delivery industry with the Exceeder app. Atlanta’s All-Electric Vehicle Delivery Service Exceeder is an all-electric vehicle delivery service offering sustainable electric SUVs, pickup trucks, and scooters for rent. At the heart of its innovation is the Proteus Generator, a patented gas-to-electric-circulation generator that transforms fuel into low-carbon electricity, redefining recharging for electric vehicles. “The Proteus generator basically puts the power plant onboard the vehicle, eliminating the need to plug into an external power source,” Bailey told Digital
