Fearless Fund has announced it has received multi-million dollar follow-on investments from Bank of America, Costco, and Mastercard. Investing In WOC Founded in 2019 by Arian Simone, Keshia Knight Pulliam, and Ayana Parsons, Fearless Fund invests in pre-seed, seed level, and series A women of color founders building scalable and growth-aggressive companies. Their portfolio includes Bitsy’s, the clean food and beverage brand co-founded by Gabrielle Union, Melissa Butler’s cruelty-free beauty brand The Lip Bar, Pinky Cole’s Slutty Vegan, and Sevetri Wilson’s Resilia. Read: Resilia Closes $35M Series B, Largest Raise Ever For A
The Fifteen Percent Pledge was launched three years ago by creative director, activist and fashion designer Aurora James to urge major retailers and corporations to commit 15% of their shelf space to Black-owned businesses. Since then, more than 625 Black-owned businesses have developed business relationships with 29 companies across three countries that have taken the pledge such as Ulta, Sephora, Vogue, Macy’s and Old Navy. According to Forbes, the Pledge’s work with its partners has created the potential to shift $14 billion to Black entrepreneurs and businesses. Now, to mark
A new report by Dropbox DocSend has shed light on the funding divide in the tech industry, particularly regarding race and gender disparities among founders. While 2021 witnessed record-breaking levels of VC funding and increased engagement with diversity, equity, and inclusion (DEI) initiatives, 2022 proved to be more challenging for historically underfunded founders. Turning tides In 2021, VC funding for early-stage founders experienced a significant boost, with record-breaking funding levels. Historically underrepresented founders also experienced a surge of investor interest driven by DEI-related investment initiatives in response to the murder
This Juneteenth, we want to celebrate some Black startups that have set out to uplift and support the Black community. What is Juneteenth? Juneteenth commemorates June 19, 1865, the day more than 250,000 enslaved Black people in Galveston, Texas, finally learned that slavery had been abolished – two and a half years after the signing of the Emancipation Proclamation. The first Juneteenth was observed in 1866 and has been celebrated by Black Americans ever since. It is often referred to as the country’s second independence day and became an official
The regulation and ethics of AI image generators have been a topic of conversation for several years, with EU lawmakers considering proposals for safeguards to address some of the issues. In March, more than 31,000 people signed an open letter calling for a six-month pause in AI research and development to answer questions about regulation and ethics. Recently, the free-to-use graphic design tool Canva came under fire after DEI Thought Partner Adriele Parker prompted its text-to-image app to generate a Black woman with Bantu knots. An error appeared and told
Retail technology consultant Jessica Couch is launching an AI-generated fashion tech platform with co-founder Bo Hu Yang, aiming to help stylists and stylish people to monetize their influence. The AI-powered platform, which officially launches in October, is a personalized fashion discovery engine that matches people to products based on fit and style. How does Looks work? Stylists, can tag and post their looks on the platform and share them with their community. The stylist will get paid whenever someone buys an item that they post. The platform incentivizes peer-to-peer relationships
Co-founder of Flair AI, Mickey Friedman, has announced the company has generated thousands of composable human models in various poses to sell the target company’s beauty products. Friedman said they are helping to “speak to the audience’s diversity and reflect the target market.” Flair AI, founded in New York, is an AI design tool for branded content, allowing users to generate high-end product photography in minutes for CPG (consumer packaged goods) and beauty Brands. Friedman posted that companies can “target different demographics and represent your audience in marketing campaigns,” which had
Following Elon Musk’s announcement to buy Twitter in April 2022, many users, particularly Black users, opposed it. Some have found other platforms, such as Mastodon, Spill, and Bluesky. Bluesky, however, has recently raised some alarm bells after a moderation policy change following a death threat against a Black woman left many questioning the safety of the platform. What is Bluesky? Bluesky is a decentralized social app that started off as a project by Twitter co-founder Jack Dorsey in 2019 when he was Twitter’s CEO. Dorsey chose Jay Graber to lead
STEMBoard’s joint venture, Exacta Solutions, has been awarded a $947 million contract designed to provide support to National Geospatial-Intelligence Agency’s total lifecycle acquisition management, strategic financial management and strategic business management activities. Founded by former NASA rocket scientist Aisha Bowe, STEMBoard is an award-winning DC-based tech powerhouse specializing in professional advisory services for elite organizations in the US government. “This remarkable achievement is a testament to the innovative spirit, expertise, and dedication of our team at STEMBoard, as well as the outstanding capabilities of our esteemed partners,” Bowe commented on
Black women have long faced hair discrimination in the workplace, from hiring practices to daily interactions. The 2023 CROWN Workplace Research study found that : Black women’s hair is 2.5 times more likely to be perceived as unprofessional More than half of Black women felt the need to wear straight hair for job interviews 1 in 5 Black women aged 25-34 had been sent home from work because of their hair 1 in 4 Black women believe they were denied a job because of their hair People with more tightly coiled hair
