Kofa Technologies, a Ghanaian company specializing in portable clean energy solutions, has announced an expansion of its battery-swapping network, supported by a £6.15 million (approximately $5 million) initiative. The project, led by Kofa and impact investor PASH Global and backed by Shell Foundation, the UK Government, and PASH Global, aims to accelerate electric vehicle (EV) adoption and clean energy access in Ghana. EV Battery Swapping Kofa’s battery-swapping network aims to provide a sustainable, cost-effective solution to reduce urban pollution and boost EV adoption. The system allows users to swap depleted
Wells Fargo has closed and emptied the business accounts of Beautiful Curly Me without warning, according to its 12-year-old CEO Zoe Oli and her mother, Evana. Zoe Oli founded the company at age seven to boost confidence in young Black girls through dolls and other products and recently became the youngest CEO to have a toy line at Target. Account Closure Leaves Business in Crisis The closure of Beautiful Curly Me’s three business accounts has put a severe strain on the company’s operations. According to Zoe and Evana, Wells Fargo
Black Eyed Peas frontman and tech entrepreneur will.i.am has launched RAiDiO.FYI, a free AI-powered set of interactive radio stations focused on topics like sports, pop culture, and politics. RAiDiO.FYI uses OpenAI’s language models to create a unique experience where listeners can ask questions, request songs, and get news updates from an AI DJ. A New Era of Interactive Radio With RAiDiO.FYI, will.i.am aims to bring a new level of interactivity to radio. Unlike traditional radio or even AI music tools like Spotify’s AI DJ, RAiDiO.FYI allows for tor two-way communication. Listeners
The Black Founders Programme, by Digital Catapult and Sony Music UK, is back for its second year, supporting Black British entrepreneurs in creative technology. Ten new startups have joined the 2024 cohort, applying immersive technologies like virtual, augmented and mixed reality to creative industries. Supporting Black Deep Tech Innovation The initiative focuses on improving investment readiness through mentorship, knowledge sharing, and partnerships. Last year, over 80% of participants saw growth in investment readiness, securing key corporate partnerships and investor interest. This year’s cohort explores immersive technology in storytelling, music production,
The Black Farmer Fund (BFF) is raising $20 million for its second fund, BFF Fund 2.0, aimed at strengthening the Black food system across the Northeast. BFF is a community-driven investment fund that supports Black agricultural and food businesses to build a more equitable food system. This milestone will provide financial support to Black-owned agricultural and food businesses, with $2 million of the integrated capital fund already invested in four innovative enterprises. The fund is part of BFF’s mission to create a sustainable, equitable food system by offering patient, low-interest
Red Lobster, the iconic seafood chain, has officially exited Chapter 11 bankruptcy following its acquisition by RL Investor Holdings LLC, a group backed by Fortress Investment Group. The company has named 35-year-old Damola Adamolekun as its new CEO, marking a milestone in both the restaurant’s history and the career of this rising Black business leader. New Leadership Ushers in a Fresh Chapter for Red Lobster With a new ownership structure in place and fresh leadership at the helm, Red Lobster is positioning itself for a comeback. Adamolekun, who previously served
Brandcil, a technology company, has introduced an enterprise-level social media management platform. Launched on June 10, 2024, Brandcil distinguishes itself as one of the few platforms offering comprehensive tools for streamlining social media tasks across various networks. A Game-Changer for Social Media Management The platform enables users to manage multiple social media accounts, schedule posts, and monitor performance, integrating with major platforms like Instagram, Facebook, YouTube, LinkedIn, TikTok, Pinterest, and X (formerly Twitter). This one-stop solution aims to optimize social media strategies for businesses and individuals alike. Brandcil has formed
This article is sponsored by Morgan Stanley Inclusive Ventures Lab The Morgan Stanley Inclusive Ventures Lab (MSIVL) is proving that inclusion really does fuel innovation. Since 2017, Morgan Stanley’s in-house startup accelerator has helped over 100 companies raise over $200 million and reach a collective valuation of more than $1 billion. MSIVL provides early-stage technology and technology-enabled startups with $250,000, handpicked mentors, custom curriculums in finance, sales, and marketing, and a coveted opportunity to pitch to investors following their five-month accelerator participation on a Demo Day, setting founders up for
Rapper and entrepreneur 2 Chainz has joined PepsiCo to launch “Taste of Tomorrow,” a new initiative aimed at addressing the underrepresentation of Black professionals in Science, Technology, Engineering and Math (STEM) careers. Boosting Black representation in STEM Despite STEM fields experiencing rapid growth, Black professionals currently make up just 9% of the workforce. The “Taste of Tomorrow” initiative aims to break down the systemic barriers Black students face in pursuing STEM careers, such as limited access to advanced coursework and public programming. Rapper and entrepreneur 2 Chainz, a HBCU alum,
Y Combinator-backed startup DryMerge has raised $2.2 million in seed funding to bring automation to non-technical users through plain English chat. Expanding Automation Beyond Programmers Founded just a year ago, DryMerge initially focused on using AI to automate API integrations for developers. Now, the company aims to simplify repetitive tasks for users without coding experience. DryMerge allows users to automate workflows via plain English chat, bypassing the complexities of traditional no-code tools like Zapier or Make, which are still primarily used by people with coding experience. “We’re making the process
