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
Runway AI, a multi-billion dollar company, has been training its AI video tool, Gen-3, on thousands of YouTube videos without permssion, 404 Media has revealed. Among the videos used were over 1,600 from tech influencer Marques Brownlee (MKBHD). The exposé follows an investigation by Proof News, copublished with Wired, which found that tech firms including Apple, Anthropic, Nvidia, and Salesforce had training their AI systems on subtitle data from more than 170,000 YouTube videos. Runway Secretly Trained On YouTube Videos In June, Runway AI launched Gen-3, initially called Jupiter, which received high praise
The UK government has announced plans to introduce legislation requiring companies with 250 or more employees to disclose their ethnicity and disability pay gaps. This move, part of Prime Minister Keir Starmer’s agenda for the upcoming year, was unveiled by King Charles III and signals a significant shift towards greater workplace equality. Extending Equal Pay Rights The proposed race and disability equality bill will, for the first time, mandate British businesses to report on the pay disparities affecting ethnic minority and disabled workers. Previously, companies were only required to report
Former NFL quarterback and activist Colin Kaepernick has announced the launch of Lumi, an AI-powered storytelling platform. Lumi aims to change the storytelling process, allowing individuals to create, publish, and monetize their stories regardless of their skill set. The platform offers end-to-end story creation, simple AI tools, and both physical and digital publishing options, making it easier for creators to bring their stories to life. With the added benefit of built-in merchandising, creators retain full ownership of their work, bypassing traditional industry gatekeepers. Addressing Gaps in Storytelling Kaepernick’s inspiration for
HealthyMD and IMG Health Clinic, have announced a merger aimed at enhancing health equity and providing high-quality sexual healthcare to over 50 million underserved individuals across the United States. HealthyMD and IMG Health Clinic Clifford W. Knights II and Steve Vixamar founded Independent Medical Group (IMG) to provide healthcare services to those in need and to stop the spread of HIV and Hep C in underserved communities. HealthyMD, their telehealth platform, offers comprehensive at-home tests, in-clinic, mobile clinic appointments, improving sexual healthcare access, particularly in Black and LGBTQIA+ communities. This
On Sunday, hours after Joe Biden withdrew from the presidental race, thousands of Black women met on Zoom, raising over $1.6 million for Kamala Harris in three hours. Black Women for Kamala Harris Every Sunday at 8:30 p.m. ET for the past four years, Black women have been virtually gathering, strategizing, encouraging, and supporting one another through the collective “Win With Black Women“. This organization, born out of frustration over the treatment of Black women being considered as running mates for then-candidate Joe Biden in 2020, has grown exponentially. On
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
Black Girl Sunscreen (BGS) has achieved remarkable success, earning $1.1 million in just three months on Amazon, according to AfroTech. A Vision Rooted in Necessity In 2016, Shontay Lundy created BGS, a 30 SPF lotion formulated for women of color. Recognizing this gap, she invested $33,000 of her own money to create a product that wouldn’t leave the notorious white residue on darker skin tones. Made with melanated skin in mind, BGS dries completely clear and protects melanin without the white-cast that normal skin care tends to leave, according to
