Crunchbase data shows that while funding to Latinx founders has increased in dollar terms—from $1.7 billion in 2017 to $6.8 billion in 2021—that growth only slightly outpaced the overall increase in U.S. venture capital investments, leaving Latinx startup funding stuck stubbornly at around 2 percent of the overall startup investment pie. Meanwhile, the data shows early-stage funding, arguably the most critical phase, has stagnated almost completely in recent years, according to a report by Ctunchbase. These numbers are confusing considering Latinx-founded businesses made up about half of the net new small
Uber and Visa have announced Grants for Growth, a program that will provide $1 million in grant funding to small businesses in 10 US cities that are currently active on Uber Eats. The program will be administered by the Local Initiatives Support Corporation (LISC). Focused on restaurant recovery and entrepreneurship, the program was created to support merchants when they need it most. “We know that this year has been trying for many and that independently-owned businesses continue to face significant business challenges. From natural disasters to the impact of the COVID-19 pandemic,
The Framework has raised $2 million in a seed round to create an “on-demand business school” aimed at startups. The edtech platform says it already has more than 2,500 people on its waitlist ahead of its launch next year. The firm’s idea is that members learn directly from tech operators from companies including Slack, ASOS, Flo Health, and Netflix via 15-minute “Frameworks” and live office hours sessions. Members can also make 1:1 connections with each other. This is sometimes called “snackable” content. LearnStart, the seed fund of Learn Capital, Evio
The Black-owned Nourish + Bloom Market is about to disrupt traditional grocery stores as it becomes the first minority-owned autonomous grocery store in the US. It’s set to open on December 17th in Fayetteville, Georgia, featuring “frictionless shopping.” This means that customers will be able to walk in, grab what they need, and leave without waiting in line or stopping to scan and pay, especially helpful in this “new normal” post-pandemic world. They will simply have to scan a QR Code from Nourish + Bloom’s app that connects to their digital wallet
