Target joins the growing list of companies rolling back its diversity, equality, and inclusion (DEI) initiatives. As a retailer known for featuring Black-owned brands like The Lip Bar, Black Girl Sunscreen, Tabitha Brown, Donna’s Recipe, there are concerns over how potential boycotts may impact Black founders. Target ends DEI goals In a memo shared with employees, the company said it will end its three-year DEI goals, concluding its Racial Equity Action and Change (REACH) initiatives in 2025 and end a program focused on carrying more products from Black- or minority-owned
Robin AI, a Black-owned legal AI startup, has won second place on the Startups 100 index. The startup uses AI to automate contract reviews, slashing costs and freeing up legal teams. Last year, it raised $25 million in a unique extension of its Series B funding round. The company was founded in 2019 by former Clifford Chance lawyer Richard Robinson and machine learning researcher James Clough. “Robin AI are truly ground breaking in their innovation, aiming to cut down legal processing times. Despite the challenges, the UK is still a
Fundment, a Black-owned all-in-one tech platform for financial advisers, raised £45 million ($55.4 million) in Series C led by Highland Europe, as per Tech Funding News. The investment will scale the team, develop the product, and achieve future growth. Financial advisers are under more pressure than ever, which is why the global financial planning software market is set to amount to $18.1 billion in the next decade. For this reason, Fundment aims to create innovative solutions for financial advisers that will allow a smooth experience for their clients. “Financial advice is
Black-owned organizations Afropunk, Walk Good LA, and Community Aid Dena have raised over $10 million for Black families displaced by the Los Angeles fires. Since January 7, the wildfires had caused the displacement of over 100,00 people, displaced 12,000 structures, and killed at least 24 people, according to The Guardian. The fires have significantly impacted Black communities in LA. The New York Times reported that although only 8% of the general population of LA is Black, 21% of the residents affected by the fire in Altadena are Black people. Which
In 2024, Black-owned businesses faced significant challenges, from rising costs and gentrification to limited access to funding. Amid these obstacles, communities around the world rallied to provide crucial support. Through flash mobs, crowdfunding, and organized shopping events, they helped Black-owned businesses weather financial hardships and highlighted the power of collective action. Here are four examples of communities stepping up to make a difference. The Sistah Shop – Atlanta Facing potential closure due to financial difficulties, The Sistah Shop, a retail space showcasing over 100 Black women-owned brands, received a lifeline from
Los Angeles-based moms Dr. Anndretta Lyle and Stacy Kirk, both leaders in education and technology, have joined forces to create Thrive Culture Box, an innovative subscription service for families with children aged four and up. Designed to celebrate and explore Black culture, the service provides monthly activity kits that combine hands-on learning with interactive digital lessons. Each box features engaging tools and materials, along with instructional videos that guide families in discovering Black history, achievements, and creativity. The Thrive Culture Box The debut series of Thrive Culture Box spotlights Black
Intrapreneurship—the practice of creating ventures within existing organizations—could help bridge the resources gap Black founders face, recent new research suggests. Intrapreneurship: A Safer Space for Innovation While Black and white entrepreneurs start businesses at similar rates, Black-founded ventures are only half as likely to achieve financial viability. New research by Olenka Kacperczyk (London Business School) and Tiantian Yang (Wharton) shows Black intrapreneurs achieve financial outcomes nearly equal to white peers, with just a 2% gap over five years. One key factor? Researchers note that employers are already familiar with their
Google has unveiled the latest cohort startups selected for its Google for Startups Accelerator: Africa program. The six Black-led South African startups were announced at an event coinciding with this year’s Africa Tech Festival, which was held in Cape Town, South Africa. Google for Startups Accelerator: Africa The three-month hybrid accelerator program supports Seed to Series A technology startups led by at least one Black founder. This opportunity includes ZAR1 million ($50,000) in non-dilutive funding, up to ZAR3.6 million ($200,000) in Google Cloud credits, and access to mentorship and industry networks. By
Hannah Bronfman, the wellness entrepreneur turned prolific angel investor, has revealed her plans to launch her own investment fund during an event at AFROTECH Conference, as first reported by TechCrunch. Known for her portfolio of angel investments in over 70 companies—including Black-founded beauty brands like Topicals and Sienna Naturals—Bronfman now aims to manage an institutional fund. From Angel Investor to Institutional Visionary Bronfman, who previously founded the wellness and beauty platform HBFIT, shared her experiences with an audience of young Black professionals and tech executives. She highlighted how community and
Kendall Hamilton, a highly ranked Rocket League player, and his mother, Dr. Gigi, are leading an initiative that has supported young Black gamers in securing over $150,000 in Name, Image, and Likeness (NIL) deals. Together, they founded Game Changer Academy, an organization dedicated to helping young Black gamers use their skills for financial and professional growth. Game Changer Academy: Turning Gaming Skills Into Opportunities Game Changer Academy emerged from Kendall Hamilton’s own journey in competitive gaming according to a press release. Initially, his mother, Dr. Gigi—a licensed psychotherapist and organizational
