POCIT. Telling the stories and thoughts of the underrepresented in tech. POCIT. Telling the stories and thoughts of the underrepresented in tech.
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Black Founders

Black-Owned Chicago AI Startup Lands $100K In Latest ‘Northwestern Mutual Black Founder’ Accelerator

A Chicago startup that uses AI to help people better leverage their professional network is part of the newest cohort of startups selected as part of the Northwestern Mutual’s Black Founder Accelerator program. 4Degrees, led by CEO Ablorde Ashigbi and CTO David Vandegrift, will receive a $100,000 investment as part of the 12-week program. It will also work alongside Northwestern Mutual and its accelerator partner gener8tor to help grow its business. The company, launched by Ashigbi and Vandegrift, two former investors at Pritzker Group Venture Capital, back in 2017 was

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Jeff Bezos-Backed ‘Chipper Cash’ Gets $2B Valuation With $150M Extension Round Led By FTX

An African cross-border payments company has raised $150 million in a Series C extension round led by Sam Bankman-Fried’s cryptocurrency exchange platform FTX. Chipper Cash, founded in 2018 by Ham Serunjogi and Maijid Moujaled, is a no-fee peer-to-peer cross-border payment service in Africa. Users can accept payments in Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya through their app. Chipper Cash‘s investment comes barely six months after it closed its first Series C round of $100 million, led by SVB Capital, the corporate venture capital arm of SVB Financial Group. Deciens Capital, Ribbit Capital, Bezos

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Black And Profitable Part 2: Meet 4 Women Who Bootstrapped Their Way To Success

A sequel on the piece of Black founders profitable without Venture capital. Not all startups reach the promised land of VC funding. Not all startups require VC funding to be successful. With the odds stacked against Black and Brown entrepreneurs, they typically need to find other ways to innovate and grow. Money isn’t always easy to come by. Bootstrapping means launching and growing your startup using your personal financial resources. See how these Black women founders left behind the “scale no matter what” mentality. Instead, they built their startups into successful, profitable

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Historically Black ‘Florida A&M University’ Receives $100,000 Grant To Launch Incubator For Startup Founders

Florida A&M University has received a $100,000 grant from Wells Fargo to launch a small business incubator to assist women and minority-owned businesses. The grant will advance hiring initiatives for a program manager to oversee operations of the incubator and modernize an existing location for entrepreneurs to call home. Funding will also enable the incubator’s staff to support program participants in exploring the feasibility of their business concepts, launching, expanding, and scaling their businesses. The remaining funds will support future marketing and promotions throughout the development of the project. The

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Vendease Gets $3.2M To Help Hotels And Restaurants Buy Food Supplies From Africa

Vendease, a digital marketplace that allows food businesses to buy supplies straight from manufacturers and farms, has successfully raised a seed round of $3.2 million. When a restaurant places an order, the firm’s system generates all the possible suppliers that can fulfill it. It then looks at the best pricing versus quality and assigns that order to the supplier. According to the company, founded by Tunde Kara, delivery is made within 24 hours, either by itself or by a third-party logistics provider. This is a huge milestone for the company.

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Meet The Founder Whose App Could Help Track Racial Incidents And Missing Black People

A Black veteran has developed an app, Anjel Tech, that could help track racial incidents and contribute to helping find missing people of color using live stream video and location sharing capabilities. Anjel Tech, founded by James Samuel, Jr, sends information to loved ones in real-time – providing them with the exact location the video was taken from. The app, which claims to share the data “discretely”, has been described as having the potential to decrease the number of dangerous incidents young Black people often face and give their families

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Howard University Gets A $16.8M Grant From PNC To Support Black Start-Up Founders

PNC Financial Services Group Inc.’s charitable foundation has announced a five-year $16.8 million grant to Howard University to build The Howard University and PNC National Center for Entrepreneurship. The center will support expanded opportunities for Black entrepreneurship with enhanced educational, leadership, and capacity-building resources and programs nationwide. As a part of PNC’s wider commitment to providing over $1.5 billion in funds to create “economic empowerment” for Black Americans, this donation is just one of the financial institution’s countless plans to support the community. It plans to provide $88 billion worth of investments,

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Peloton Is Set To Donate Its Bikes To HBCU Students Through Its Expanded Partnership With Beyonce

Beyonce has expanded her partnership with Peloton and is releasing another series today in the hope of inspiring HBCU students on their fitness journey. Peloton will also be donating their bikes to HBCU fitness facilities this fall as part of the collaboration. The 72-hour fitness session with Beyonce will include 17 classes spanning three days with content streaming globally from Peloton Studios in London and New York. For the first time, Peloton will include classes in three languages — English, German and Spanish — to be more inclusive.  According to a press release

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OneTen Pledges 3,500 Tech Scholarships To Support Underserved Black Talent

OneTen — a group of industry executives with a mission to hire more Black individuals — has just launched its inaugural scholarship program to spearhead 3,500 underserved students toward the tech industry. As a contribution toward OneTen’s commitment, Udacity and Blacks In Technology will lend a hand to support the initiative.  Udacity, an American for-profit educational organization, will offer recipients the opportunity to partake in a flexible online program to allow them to pursue a full-time position or continue their educational pursuits.  While Blacks In Technology will amplify students’ efforts by providing them

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This Black Founder’s Autoimmune Disorder Led Her To Start A Health And Wellness Start-Up

Nzingah Oniwosan first created her 365zing App, which centralizes features found on individual apps into one location to help Black women get on track with their health goals, when she realized she struggled with her own self-care. Ms. Oniwason, the daughter of parents who immigrated from Haiti, found difficulty with staying on track with her self-care for 19 years, trying anything and everything to keep on track when it came to her mental, physical, and spiritual health. She found things that helped in one area but not overall, and that’s

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