HBCU alumni Terry Comer and Khalil Thompson have raised $2.25 million for NIL FanBox in a seed funding round led by sports tech venture capital firm KB Partners. The subscription platform delivers autographed college memorabilia to sports fans’ doors every season, sharing profits with student athletes and their schools. What’s the story behind NIL FanBox? NIL FanBox’s website states that it is 100% university-approved and endorsed by the players. “They [FanBox] make it super easy for players to engage directly with fans,” Drake Maye from the North Carolina football team said.
Mark Clayton, a former NFL player, raised $1 million in funding for his LIVV Audio brand of high-performance headphones he designed in high school. The wide receiver, who spent most of his seven-year career with the Baltimore Ravens, created the headphones for athletes and those interested in fitness. Clayton’s Idea Clayton started designing the concept for his headphones while studying business administration and management at Babson College. However, the idea for the headphones came to Clayton during his pool-based rehab sessions after recovering from a knee injury when he joined the
Players Health, founded by former athlete Tyrre Burks, has secured $60 million in Series C funding to expand its mission of ensuring safety in youth sports. Led by Bluestone Equity Partners, the funding round also included Mosaic General Partners, RPM Ventures, SiriusPoint, and TriplePoint Capital, bringing the total raised to over $100 million. A Former Athlete’s Vision for Change Tyrre Burks founded Players Health to address the challenges he experienced as an athlete playing Division II football team while attending Winona State University, then in Europe and the Canadian Football
Former NBA star Metta Sandiford-Artest, formerly known as Metta World Peace, is launching a $100 million venture fund focused on sports technology, digital media, and wellness innovations. The fund, Tru Skye Ventures, is a partnership with ex-Boost Mobile CEO Stephen Stokols and is slated to raise the capital by the first quarter of 2025, according to Sportico. Tru Skye Ventures aims to back early-stage startups, combining capital with expertise in product development, brand partnerships, and growth marketing. Targeting Innovation in Sports and Wellness Tru Skye Ventures has already announced an
SpringHill, the media company co-founded by NBA star LeBron James, reported a $28 million loss for 2023 on $104 million in revenue, according to a Bloomberg report. The company, which reported a $17 million loss in 2022 and has yet to turn a profit, continued to face challenges in 2024, along with the rest of the industry. However, it recently announced a new merger, and with it, hopes of profitability. Challenges in a Changing Market SpringHill’s struggles mirror those of other production companies founded during the streaming boom. As platforms
Mielle Organics, a leader in textured hair care, has announced its first-ever partnership with an HBCU athletic program, which includes a WNBA-led mentorship program for student athletes. Mielle partners with Hampton University Mielle Organics has pledged $300,000 to Hampton University’s women’s basketball. The multi-year partnership includes a $200,000 donation to Hampton Athletics and a $100,000 endowed scholarship through Mielle Cares, the company’s philanthropic arm. Additionally, Mielle is introducing a WNBA-led mentorship program, providing Hampton athletes with professional guidance both on and off the court. Investing in the Future of HBCU
Milwaukee Bucks star Giannis Antetokounmpo has launched a new venture capital firm, Build Your Legacy Ventures (BYL Ventures). Build Your Legacy Ventures This innovative firm aims to create growth in sports and entertainment industries by connecting founders with industry leaders. “This fund is not just about capital,” Antetokounmpo stated in a press release. “It’s about forging partnerships and opening my network to accelerate the growth trajectory for companies. I want to help other entrepreneurs, especially those who have faced barriers, to grow and succeed.” Backing Women in Sports BYL Ventures
Shaquille O’Neal, former NBA star and current sports commentator, has reportedly agreed to an $11 million settlement to resolve a class action lawsuit over his promotion of Astrals non-fungible tokens (NFTs). Shaq’s NFT Lawsuit And FTX Links Under Legal Scrutiny The settlement, awaiting court approval, also addresses separate claims linked to the collapse of cryptocurrency exchange FTX. The lawsuit was filed after investors alleged they suffered financial losses tied to Astrals NFTs, a collection of 10,000 digital collectibles promoted by O’Neal. Plaintiffs argued that his celebrity endorsement heavily influenced their
FightCamp, the at-home boxing and kickboxing fitness company backed by Mike Tyson and Usher, has revealed its new kick tracking technology. FightCamp’s Kick Tracking Tech Known for its real-time punch tracking, the platform now allows users to measure the speed, quantity, and intensity of their kicks, adding a new dimension to full-body workouts. “When you can track your progress, whether through punches or kicks, it pushes you to set and break personal records,” said CEO Khalil Zahar, who founded FightCamp to improve his own training. “Fitness becomes a challenge you
On the Oct. 18 premiere of Shark Tank’s 16th season, Destin George Bell, 26, pitched his gamified fitness app, Card.io, securing a $150,000 investment from FUBU founder Daymond John and venture capitalist Rashaun Williams. The app, which launched in 2022, combines fitness tracking with a social, team-based game experience, transforming outdoor workouts into competitive turf battles. Card.io has already attracted a following of over 25,000 users across 70 countries. Bringing Gamified Fitness to a Global Audience Inspired by his struggle to stay motivated during the pandemic, Bell created Card.io to
