Ghana-based construction company, LMI Holdings, has partnered with the International Finance Corporation (IFC) to enhance Ghana’s solar technology. The partnership, which will see the IFC loan the company $30 million, will provide dozens of businesses with solar technology and essential infrastructure needed to boost their productivity. The funding will also enhance water development services in the Sub-Saharan African region. LMI Holdings, founded by Kojo Aduhene, is a private power distribution company that works to provide a reliable infrastructure for businesses in Africa. The organization’s commitment to building a 16.8-megawatt rooftop solar plant
Africa-focused VC, Oui Capital, closed its $300 million second fund, Capital Mentors Fund II, targeted at supporting pre-seed and seed stage businesses. The funding round included investors, D Global ventures, Angur Nagpal’s Vibe Capital, One Way Ventures, and Ground Squirrel Ventures. Oui Capital, founded by Olu Oyinsan and Francesco Andreoli, launched its first $10 million fund in 2018. The investment firm aims to bridge the gap between high-growth technology startups in sub-Saharan Africa. It is on a mission to become the first “yeses” entrepreneurs hear as they embark on their startup
Black-owned startup, Qwili, raises $1.2 million in seed funding. The funding round, led by South African venture firm E4E Africa also included Strat-Tech, Next Chymia, Untapped Global, and Codec Ventures. Angel investors Ashwin Ravichandran and Kanyi Maqubela also participated in the funding round. Qwili, co-founded in 2020 by Luyolo Sijake, Thandwefika Radebe, and Tapfuma Masunzambwa, works as a hybrid sales platform to support micro and small merchants in South Africa. The company, which aims to address the lack of access to digital products and services within the African market, has developed a quality and
Vice President Harris has announced new public and private sector that aims to align the government with a coalition of companies and foundations to address economic disparities. The initiative, spearheaded by solutions firm Next Street, will see a community of investors make significant contributions to BIPOC businesses by connecting them with investments made by the Biden-Harris administration. A collective commitment The EOC consists of executive leaders from giant companies, including Bank of America, Capital One, Goldman Sachs, Google, Mastercard, Netflix, PayPal, and more. In addition, the community has already invested
Black-owned acceleration organization /dev/color recently announced its partnership with visual discovery platform, Pinterest, to help support its mission of changing the tech industry for good. The $3 million partnership launched last year is dedicated to elevating Black technologists and leaders throughout the tech industry. Both companies will provide coaching and mentorship programs to help empower Black software engineers, executives, and entrepreneurs, giving them the tools they need to succeed within the tech industry. Also, HBCU students will benefit from this partnership as both platforms look to invest in the Black
Black-owned serverless startup, Baselime, has raised $1.5M in pre-seed funding. The funding round, which Sequoia Capital led, also included venture capital firms Antler, Forward Partners, and Octopus Ventures. The London-based company, founded in 2021 by Boris Tane, works to reduce the challenges developers often experience. Businesses can embrace automated observability ecosystems through their platform, which is highly beneficial for remote teams. The platform also claims to offer highly flexible technology at a reduced cost by encouraging developers to run applications and manage servers on behalf of customers without needing to
“I got my job through Twitter 🎉” I never thought that I’d be the one saying those words. I’ve always seen posts of people from tech Twitter who have shared that they got a job on Twitter or that online presence helped them secure a job. Little did I know that I would be a witness to this too. Welcome to all, and thank you for taking your time to read about my journey of how I got into tech, the challenges I’ve faced, the resources I’ve used, how I
“Try not to use the word minority, say underprivileged or underserved; otherwise, if you say minority, investors will make certain assumptions.” “What assumptions?” “Oh, you know…” That was an interaction between a first-time Black founder and a white venture capital (VC) investor who was supposed to be advising her. Speaking to POCIT, she said she felt several investors she had spoken to had an unconscious bias towards her as a founder and the audience she was targeting. While she understood POC markets were ‘small’ in her native country – on
Black-owned digital platform, InterApp, has raised $1.2 million in its pre-seed funding round. The funding round was led by Columbia-based investment firm WP Capital Group, an organization that focuses on emerging technologies for consumer engagement. InterApp Inc., co-founded in 2016 by CEO William Brown, is an image recognition app that aims to make augmented reality (AR) a necessary tool for consumers. Their work, specifically designed for graphic designers, transforms print into interactive AR experiences for consumers to enjoy. The platform transforms print packages and apparel graphics into augmented reality, ultimately transforming
Black-owned tech startup, Readyhubb, has launched a new website booking service to empower appointment-based professionals across the U.S. Readyhubb, founded in 2022 by Chidi Ashley, is a booking platform that caters to many industries. The app streamlines all aspects of the booking process by designing a system that minimizes the number of daily tools professionals need to manage. Businesses that have a presence on social media and may not have a proper booking and client management system will benefit hugely from this platform. Not only does it provide an easily
