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Black-owned London-based startup Koalaa has recently closed a significant funding round of $1.2 million (£925,000) for its world-first soft prosthetic arms. Koalaa Established in 2020 by Imperial College alumnus Nate Macabuag, Koalaa has been dedicated to addressing three critical challenges faced by the limb difference community worldwide. These are access, affordability, and comfort, with their creations crafted from breathable fabric, offering a lightweight alternative to conventional prosthetics. Macabuag was named as part of the Forbes’ 30 Under 30 Europe Class of 2021. His design through Koalaa has proven to especially

Uncle Nearest, the top-selling Black-owned spirits brand globally, is close to reaching unicorn status with a valuation nearing $900 million. Uncle Nearest Premium Whiskey Black and woman-owned distillery Uncle Nearest Premium Whiskey was launched in 2016 by Fawn Weaver and has quickly ascended to global recognition.  Uncle Nearest’s rise is a tribute to Nearest Green, the first-known African American master distiller, and to the resilience and vision of its founder.  Fawn Weaver navigated the brand through an industry where only 0.48% of all venture dollars went to Black founders last year. 

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

In celebration of Black History Month 2024, themed “African Americans and the Arts,” we wanted to focus on the Afrofuturism and it’s evolution and influence over the years. Afrofuturism is a movement that merges science fiction, tech, history, and African diaspora culture.  Origins And Evolution Afrofuturism, a term coined by Mark Dery in 1993, has roots that trace back even before it was named.  It represents a cultural, aesthetic, and philosophical movement encompassing science, technology, and the history of the African diaspora.  As author and filmmaker Ytasha L. Womack described,

Actress, author, and entrepreneur Malinda Williams has launched the ESTEAM Project for women at Historically Black Colleges and Universities (HBCUs).  The coding bootcamp emerges from her Arise And Shine Foundation Inc., a 501(c)(3) organization dedicated to empowering women from diverse backgrounds. “As a professional actress and someone who has experienced first-hand the support of my community, I understand the value of collaboration and paying it forward,” said Williams in a press release. “The Arise and Shine Foundation exists to empower women to reach their goals, and coding is a powerful

NASA plans to focus on Science, Technology, Engineering, and Mathematics (STEM) education for a future diverse workforce. NASA’s Mission Equity This week, the agency published its Equity Action Plan 2023, which included new commitments to continue removing inequitable barriers and challenges facing underserved communities. In line with the Biden-Harris Administration’s commitment to racial equity (Executive Order 14091), NASA’s plan represents a contribution towards a more equitable society. The 2023 Equity Plan includes increasing the utilization and integration of contractors and businesses from underserved communities to expand equity in NASA’s procurement process. It

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

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