Black-owned AI analytics platform AI Squared has announced a $13.8 million Series A funding round led by Ansa Capital with participation from Latimer Ventures, NEA and Ridgeline. AI Squared As investments in AI increase, data science teams in businesses and governments are looking to implement AI models that can utilize more value from their data to improve decision-making. AI Squared, founded in 2019 by Benjamin Harvey, PhD, helps organizations deliver data and AI insights into their business applications. The company estimates that up to 90% of AI models enterprises develop do not make it
A national program, The Hidden Genius Project, teaches technology and entrepreneurship to young Black men in Chicago and around the US. The Hidden Genius Project The project was founded in 2012 by five Black male entrepreneurs and technologists who had noticed the high unemployment of Black male youth and the large number of careers in tech. To address the challenge, they created a program to connect young Black males with the skills, mentors and experiences needed to become high-performing entrepreneurs and technologists. “The hidden genius project trains and mentors Black male youth in
Cincinnati woman Azizah Nubia created Cincy Black Travel Guide to connect visitors with cultural events and Black businesses in the area. After attending Black Tech Week during its run in the Tri-State area, Nubia noticed other people of color weren’t familiar with Cincinnati’s Black community’s annual events and activities. This sparked her idea to create a platform in July 2023, to make it easier for travellers to find and enjoy what Black people had to offer in the city. Cincy’s Black Travel Guide Cincy’s Black Travel Guide is a digital tool accessed via the website or
Digital health startup Acclinate has partnered with Quilt.AI to enhance its Black maternal health initiatives through AI and cultural understanding. Increasing Culturally Competent Healthcare Professionals Black women in the U.S. are three times more likely to die from a pregnancy-related cause than white women. Acclinate is a digital health startup focused on improving health equity through technology and community engagement, particularly within communities of color. Thanks to Acclinate’s NOWINCLUDED community platform, significant strides have been made in understanding the healthcare needs of Black mothers over the past year. Data from the Mommy Listening
HyperionDev, a leading South African startup, has raised R95 million (approximately $5 million) to expand tech education. This latest financial infusion is part of a broader R595 million ($31.1 million) investment to accelerate the company’s expansion within South Africa and internationally, particularly in the United Kingdom. Strategic Expansion and Educational Innovation With the new capital, HyperionDev plans to broaden its reach by entering new markets and increasing tech education accessibility across its platforms. A portion of the funds will also support the expansion of the HyperionDev Academy and its scholarship programs. “This
Gran Coramino Tequila, the premium tequila brand co-founded by Kevin Hart and Juan Domingo Beckmann, has disbursed over $1 million in grants to Black and Latine entrepreneurs across the United States to date. The Coramino Fund Since its inception in 2022, Gran Coramino has dedicated a portion of its sales to the betterment of underrepresented business owners, committing $1 from every bottle sold to this cause. The Coramino Fund, established in partnership with the Local Initiatives Support Corporation (LISC), has now dispersed over $1 million in grants. This funding has reached over 100
Online resources business Hello Alice recently announced its Series C funding round closure despite facing a controversial class-action lawsuit. The lawsuit alleges their partnership with Progressive Insurance to offer grants specifically to Black-owned businesses was racially discriminatory. Hello Alice’s Commitment to Diversity and Inclusion In October 2023, Hello Alice found itself at the center of a legal battle when America First Legal, Mitchell Law PLLC, and Ashbrook Byrne Kresge LLC filed a lawsuit alleging racial discrimination. This was due to the company’s initiative, which provided $25,000 in grants to 10 Black-owned businesses in
MyFiLi is a new AI-powered edtech platform designed to transform how families, schools, and nonprofits engage with financial literacy. The Urgent Need for Financial Literacy Currently, consumer credit card debt in the U.S. has hit an all-time high of $1.79 trillion, and savings account balances average just $4,521. MyFiLi.com addresses this gap by providing tools and knowledge that help users navigate the complex nature of financial management. According to BlackNews, Founder and CEO Joseph Green‘s mission is to empower everyone to develop a healthy relationship with money. “By making financial literacy education accessible,
Primary Venture Partners has partnered with over 25 leading New York-based venture firms and startups to introduce the Factor Fellowship. This program will tackle the diversity, equity and inclusion (DEI) challenges head-on by connecting the city’s VC-backed startups with top talent from underrepresented groups. Addressing Diversity in Venture Capital and Startups The data on diversity within the venture capital and startup landscape shows that only about 13% of venture capital decision-makers are women. Funding for Black founders also declined in 2023, failing to reach the $1 billion mark for the first time since 2016.
Pennsylvania-based convenience store chain Sheetz is under scrutiny following a federal lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC). The suit accuses Sheetz of employing racially discriminatory hiring practices through its criminal background screening process, affecting Black, American Indian and multiracial job candidates since at least 2015. Disproportionate Impact on Minority Applicants According to the lawsuit, Sheetz’s hiring practices have disproportionately screened out minority applicants. Statistics reveal that while white applicants were denied employment due to their criminal records in about 8% of cases, the denial rates for Black applicants were significantly higher at
