Through venture capital, Ohio has gave $86 million to early-stage tech companies in women – minority-owned or underserved areas. The money comes from the federally funded State Small Business Credit Initiative Venture Capital program and will be invested in 11 professionally managed funds. Ohio Funding These funds are aimed at investing in companies focused on things such as health care, manufacturing and food technologies. The funds were eligible to apply for between $5 million and $10 million. “These awards will help spur innovation by fostering a diverse entrepreneurial ecosystem and accelerating the
Ovom Care, a pioneering German startup in the fertility sector, recently closed €4.8 million ($5.1 million) in seed funding to expand its services across Europe, according to Tech Funding News. Led by an all-female founding team, Ovom Care is at the forefront of integrating empathetic reproductive healthcare by using a combination of generative AI and computer vision. This investment round, led by Alpha Intelligence Capital and supported by Ananda Impact Ventures and Merantix, makes the company’s total funding €6.1 million ($6.5 million). The startup is set to open its first clinic in Portugal by late 2024,
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
Robert F. Smith’s Vista Equity Partners has raised over $20 billion for its latest fund, making it the largest in its history. This new fund, known as the eighth flagship fund, passes the previous record of $17 billion raised in 2019. Embracing AI for Strategic Growth Vista Equity Partners, known for its investments in technology companies, will leverage AI to improve efficiency and performance across the firm and its portfolio companies. “You will also hear more about how we have adopted generative artificial intelligence not just as a tool but as
TLcom Capital, a venture capital firm that partners with African entrepreneurs, has successfully closed its second fund, TIDE Africa Fund II, reaching $154 million. TLcom Capital From fintech to healthcare, TLcom has remained focused on seed to Series A investments, supporting transformative businesses like Andela and FairMoney through multiple funding rounds. With a majority-female leadership team, the firm not only champions gender balance but also backs initiatives like FirstCheck Africa to support women-led startups. TLcom’s approach involves partnering with entrepreneurs from the outset, aiming to build ventures that can deliver substantial returns. TIDE Africa Fund
American Student Assistance® (ASA), a nonprofit dedicated to transforming how students explore careers and prepare for the future, has announced a significant investment of $25 million. The nonprofit targets funds and companies with diverse founders and early-stage firms focusing on career education, postsecondary pathways, and workforce development. The move aims to expand access to essential skills and resources, helping middle and high school students navigate their career paths and achieve long-term success. A $25M Investment ASA’s investment strategy began in April 2022, and since then, it has directed over $40
Tangent, a technology platform founded by former LinkedIn employee Gary Izunwa and Joe Adams, has secured $1.1 million in funding and officially launched out of beta. Tangent, an employee referral platform aims to make referrals accessible to everyone by increasing tech career opportunities for those from lower socioeconomic backgrounds. A Vision For Inclusive Tech Tangent’s approach centers on starting with tech sales roles, engaging companies like Revolut, Stripe, and Amazon to support the transition of talent from diverse backgrounds into the tech ecosystem. This strategy aligns with the broader vision of Tangent—to democratize access to tech careers and create
Toku, a fintech startup that specializes in recurring payment solutions, has raised $9.3 million in its latest funding round. The funding round was led by Gradient Ventures and supported by existing investors including F-Prime Capital, Clocktower, Y Combinator, Wollef, and Funders Club. This latest investment has now pushed Toku’s total funding to nearly $20 million. Revolutionizing Payment Collections In Latin America Founded in 2020, Toku has become a leading player in the fintech sector by automating the entire payment processing lifecycle. Its platform offers varied payment options, handles customer outreach, and optimizes collection strategies using real-time data. This approach enhances the
The Folklore, a platform known for connecting global consumers with African brands and diasporic fashion, has secured a substantial $3.4 million seed funding. This round was spearheaded by Benchstrength Ventures, with contributions from Techstars, Black Tech Nation Ventures, and Slauson and Co. Connecting brands with Major Retailers In 2022, Folklore underwent a transformation. Originally a shopping platform showcasing primarly African brands, it now aims to enhance how emerging brands integrate into the retail landscape. “[Brands] would come to me for advice on how to expand their footprint, how to get a loan or how
SunCulture, a Kenya-based company focused on climate technology, recently raised $12 million to expand its solar-powered irrigation systems across sub-Saharan Africa. The funding is part of a larger $27.5 million Series B round. Revolutionizing Agriculture with Solar Power In many countries around the world, climate change and erratic weather have made it increasingly dificult for farmers to maintain consistent crop yields. SunCulture’s solar-powered irrigation systems aim to help farmers efficiently use water and boost their crop yields, even with unpredictable rainfall. These systems are sustainable and cost-effective alternatives to traditional,
