Rising TikTok star, Shermann “Dilla” Thomas (@6figga_dilla) has partnered with digital coupon company, Groupon, to celebrate and support National Black Business Month. The annual celebration of Black businesses every August began in 2014 and aims to help ease the strain that minority-owned businesses experience, from macroeconomic challenges such as inflation to workforce shortages. According to the U.S. Census Bureau, approximately two million companies are owned by BIPOC owners. Therefore, August is a time to show Black-owned businesses appreciation by encouraging individuals to shop, share and support their local Black businesses. Rising TikToker,
Black woman-owned sports tech platform PowerHandz has closed a “multimillion-dollar investment” with one of the world’s largest investment companies, Vanguard Holdings Group. In 2021, the company announced its merger with PH Innovation Holdings. The partnership enabled PowerHandz to feature some of its performance products and training content in the multi-sport training app’s live stream, reaching a more comprehensive range of youth, coaches, and parents worldwide. The platform received a multimillion-dollar capital injection from Vanguard Holdings Group a year later. Vanguard has also made a private tender offer to the tech
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
Financial giant, Mastercard, has officially announced the class of this year’s Start Path program, an award-winning engagement program aimed at providing global support and mentorship to the brightest late-stage startups. According to a press release, Mastercard selected three early-stage startups led by underrepresented founders and four late-stage fintech innovators looking to scale their businesses for this year’s program. “As we continue our eight-year legacy of successful collaboration with startups around the world through Start Path,” said Blake Rosenthal, executive vice president, Fintech & Segment Solutions at Mastercard. “The companies we selected are on
