MeVitae, a UK-based Diversity, Equity, and Inclusion (DEI) startup, has successfully secured a $1.8 million (€1.7 million) seed round spearheaded by Apex Black. MeVitae Founded by Oxford University alumni, Neuroscientist Riham Satti and Computer Scientist Vivek Doraiswamy, MeVitae specializes in offering a comprehensive DEI ecosystem of HR tools. These tools, developed from a blend of AI ethics and neuroscience perspectives, are designed to detect and mitigate biases, to enhance smarter, faster, and fairer hiring decisions. “Growing up, I never considered that my gender or skin color might impede opportunities. It
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
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
To mark Black History Month, a new game titled “Guess, Jerry!” has made its debut on the App Store. Created by Microsoft Senior Software Engineer Michael Curd, the app pays tribute to Jerry Lawson, who shaped modern video gaming. Father Of Video Game Cartridge Jerry is an AI buddy inspired by video game legend Jerry Lawson, who was often named the “Father of the video game cartridge”. Lawson was one of the first prominent African American figures in the gaming industry. As chief hardware engineer for Fairchild Semiconductor, Lawson steered
Beta Boom, a US-based venture capital firm, has announced the closure of its $14.5 million Fund II. Founded in 2017 by Kimmy and Sergio Paluch, Beta Boom is committed to bridging the funding gap experienced by underrepresented founders, particularly in areas beyond the major tech hubs. Beta Boom’s Fund II Beta Boom’s Fund II, raised by the duo, alongside Ally Bank, Melinda French Gates’ Pivotal Ventures, and Bank of America, signifies a pivotal shift in the venture capital landscape. The fund aims to support early-stage startups that cater to the
Black-owned, Philadelphia-based Win Win Coffee has launched a transformative technology platform to connect coffee farmers directly with buyers, creating a more ethical and streamlined process. Co-founded by Nikisha Bailey and Matthew Nam, Win Win Coffee has the vision to lead a coffee industry renaissance where every sip is a journey through the diverse narratives of the African diaspora. After Win Win Coffee was forced to close in 2020 due to pandemic restrictions, Bailey and Nam decided to source and produce their own brand of coffee. This gave them a look into the process of producing
Amazon-owned Ring will stop allowing police departments to request user doorbell camera footage without a warrant or subpoena following concerns over privacy and racial profiling. Ring’s police partnerships The Ring Doorbell Cam is a wire-free video doorbell that can be installed into people’s front doors and homes. Amazon acquired Ring in 2015 for a reported $1 billion. In 2019, Amazon Ring partnered with police departments nationwide through their Neighbors app. Police could access Ring’s Law Enforcement Neighborhood Portal, which allowed them to view a map of the cameras’ locations and directly
