Nigerian automotive tech company Autochek has secured a $13.1 million seed round almost a year after raising $3.4 million pre-seed in November 2020. Pan-African VC firms TLcom Capital and 4DX Ventures led the recent fundraising. These are the same investors that led the startup’s pre-seed round. Other existing investors include Golden Palm Investments, Enza Capital, and Lateral Capital, invested as well. First-time investors included ASK Capital and Mobility 54 Investment SAS, the venture capital arm of Toyota Tsusho and CFAO Group. In total, Autochek has raised $16.5 million in two financing rounds. What service does
The Black founded start-up with a mission to make culturally competent healthcare accessible for minority communities has announced that it raised $1.6 million in seed funding led by the Female Founders Fund with participation from Serena William’s venture firm. Founded in 2018, HUED’s database now features over 600 healthcare providers tailored specifically towards communities of color and has developed a digital training curriculum for healthcare systems and stakeholders. The curriculum provides tools to dismantle structural and policy barriers that prevent these communities from accessing the care they need. Other round
When it comes to Venture Capital, the UK is far from meeting the necessary targets for diversity, particularly when it comes to the Black community. But Black VCs up and down the country are not staying silent anymore, and many of them are becoming more and more vocal on the lack of diversity in the sector, with some taking matters into their own hands to make an active change. From blogs and podcasts that advise new founders, group mentoring sessions to even launching their own firms specifically for Black aspiring VCs
Minority Equality Opportunities Acquisition Inc, known as MEOA for short, is now the first Black-led special purpose acquisition company (SPAC) traded on the Nasdaq Capital Market. The news on the milestone move comes after MEOA, which will continue to focus on historically undercapitalized minority-owned or controlled businesses, closed a $126.5 million upsized IPO of units on August 30. Its founders – chairman Shawn Rochester and CEO Robin Watkins – believe “the mission and purpose of MEOA will help catapult minority enterprise in this country.” Mr. Rochester told the Seattle Times that as a
Startup investing in Africa has come a long way, partly due to the work that angel investors do in helping startups take off. Angel investors are the individuals who provide early-stage financing for startups, helping them get off the ground, and hopefully attract bigger investments. Because they invest at the very early stages of a startup’s life, the chances of failure are really high, yet many startups may never get started without the money they invest. We spoke to Biola Alabi, an angel investor and the founder of Biola Alabi Media,
More new Black-owned companies were formed in 2020 than at any time in the last 25 years. However, we do know the significant challenges Black and Brown founders face trying to gain much-needed venture capital and investment for their businesses. Despite a bleak outlook, some minority entrepreneurs have found ways to attract investment during a chaotic pandemic year. In fact, Black founders are raising record amounts of venture capital funds in 2021. How are founders finding investment? Lockdowns theoretically made investors easier to reach. Many founders are now more accessible virtually through Zoom and
Techish is back with a brand new episode! Abadesi and Michael discuss Instagram’s new feature will let online shops identify as Black-owned to better attract users wanting to show support. (28:00) They also break down: Bezos steps down and Amazon strives to be Earth’s best employer (0:20) Is it the end of an era for innovation for Big Tech companies? (5:00) Sha’Carri Richardson’s ban from the Tokoyo Olympics, cannabis, and the politics of sport (8:55) The pros and cons of Robinhood going public (16:48) The online scam taking money from your bank transfers (23:40)
This 27 year old Zimbabwean Teacher Scaled a Tutoring Business Just Using WhatsApp – Techish Podcast
Techish is back with a brand new episode! Abadesi and Michael discuss the story of Maxwell Chimedza who used his cellphone and WhatsApp to start a tutoring academy for his sudents in Zimbabwe during the pandemic. (16:50) They also break down: Black TikTokers on strike (0:50) White privilege, raising capital, and starting companies in Africa (8:50) Facebook hits a trillion and tech monopolies (21:50) Charles D. King talks privilege in film and challenging conventional narratives (29:08) Sponsors Get your ticket for Inbound 2021! Speakers include Oprah Winfrey, Tristan Walker and more! Register for
As a Latina founder of a social impact company, raising VC money hasn’t exactly been easy. Especially in Chicago, where I’m based, the VC community, while close-knit and easily accessible, is small, homogenous, and focused on later-stage investments. On the startup side, of the 65 Chicago-based startups backed by Chicago-based venture capital funds, only 16 (about 25%) have a non-white founder, and only 15 (or 23%) have a female founder to Chicago Blend. From firsthand experience, the lack of access to early-stage capital compared to the coasts has an oversized impact on underrepresented
Two New York-based rap legends show up and show out in the venture capitalism space, making millions outside of music. Both hailing from New York from humble beginnings, the two legends weren’t particularly close while reaching mainstream success in the ’90s. It started with Dead Presidents II and ended in a tour. Their rap beef ignited the hip-hop community in New York City, around the world, and spawned several diss tracks that got pretty intense. They finally declared an end to this feud on stage with the ‘I Declare War”
