Serena Williams is convinced that Silicon Valley is making a mistake by not investing in startups founded by Black women, and that’s why she launched Serena Ventures. This venture capital firm invests in early-stage entrepreneurs. The mission is to support dreamers and visionaries of the future, allowing them to capitalize on their genius. Serena Ventures is making waves in the VC world by investing in mission-driven companies with over 50 portfolio companies with a $33 billion market cap and 60 percent diverse founder investments. Besides her VC firm – we
Utah-based customer communications innovator Weave was led into the public markets by a Black CEO. Pretty big deal right? The firm has gone from strength to strength after it achieved rare Unicorn status in 2019, an industry term used for privately backed startups that reach the $1 billion valuation mark. But CEO Roy Banks is no stranger to the top of the corporate pyramid – before his job at Weave he had already worked as the chief executive’s office for four other companies. Banks replaced Weave’s interim Co-Chief Executive Officers
Deciding on the right type of funding for your business can be difficult. In fact, it’s considered one of the hardest and most stressful things you could do as it can make or break your startup. Every funding option has advantages and disadvantages, and some are better suited to certain types of businesses and business models. It’s important to explore the funding options available before deciding how to build your company as the route you take will have some serious consequences. Here we break down what some of the keywords
There have been dozens of stories written this year about people that used lockdown as a way to better themselves or to learn a new and beneficial skill but I don’t think many have had the privilege of hearing Asia Sharif’s story. The proudly Black and Muslim woman is inspiring for many reasons – one being that she is a self-taught ‘Junior Software Engineer and Blockchain Developer’ that used the pandemic as an opportunity to change career paths and teach herself how to code. The second reason is that she
DrugStoc has raised $4.4 million in a Series A funding round led by Africa Healthcare Master Fund, Vested World, the German Development Bank and others. The investors will play a vital role in the sector’s continued growth. The firm plans to open more fulfillment centers and increase transit points and routes. It also hopes to provide more improved logistic alternatives for deliveries projected to be tardy. The founders plan to tap into more investment prospects in cold chain infrastructure with the hope of creating safer distribution for perishable items. To
The Black community has long played a profound role in shaping the world as we know it today and although they haven’t always been rewarded for it – they have been in this business for a long time. For example – did you know that more than 90 percent of the microphones used today, including those in phones and cameras, use technology co-invented by Dr. James E. West? Microphones Mr. West, a Black man who was also was appointed president-elect of the Acoustical Society of America in 1997, started his long
The platform, launched in 2020, is designed to make Black candidates accessible to corporations, connect Black-owned start-ups with major brands, pair young tech employees with experienced workers for mentorship, and teach small-business owners how to raise capital. Launched by Leke Sholuade in September last year – it now has a global community of 208 plus mentors from multinational companies like Google, Microsoft, Amazon, Uber, Facebook, Cisco, LEGO ventures, and SMEs. It reportedly has a three-phased approach to make sure the future of tech is an inclusive one for Black people.
Schools across the UK and Ireland are to receive hundreds of books celebrating Black women in the tech industry to amplify the stories of 51 of them excelling in the sector. Tech London Advocates (TLA) Black Women in Tech released their first book, ‘The Voices in the Shadow’ at the end of October and pledged to give away their first 300 copies free to students. Now – it’s finally happening. According to the BSC (British Computer Society), The Chartered Institute for IT, the representation of women in the tech industry has increased
Raising capital isn’t easy. Having spoken to dozens of founders this year, I’ve realized that fundraising money – whether that’s from investors, friends, family, or the general public – seems to be the biggest hurdle for almost every business owner. The constant headlines of Series A announcements make it seem like there’s no better time for entrepreneurs to raise venture capital, but the statistics for venture capital funding to Black founders are still quite dire. In the UK between 2009 and 2019 just 0.24 percent of venture capital went to a team
Black entrepreneurs know the climb to getting substantial funding from investors can be practically a vertical ascent. Venture-backed founders tend to all look the same with 73 percent of all founding teams composed exclusively of men while 60 percent of founding teams are exclusively White. But here at POCIT news, we believe our community of great founders, engineers, and designers can do it all and our job is to provide you with insight, tips, and timely news. We’ve compiled a list of all the places you can get funding as