MaC Venture Capital, a venture capital firm known for its focus on seed-stage investments, has successfully raised $150 million for its third fund, as first reported by Fortune. This latest fundraising round brings the firm’s total assets under management to $600 million, a remarkable achievement for the five-year-old firm founded by Marlon Nichols, Adrian Fenty, and Mike Palank. Strategic Growth and Investment Focus The infusion of $150 million allows MaC to increase its initial investment size to $2-3 million per startup, up from its previous average of $1.5 million in
Octavia Carbon, a Kenyan startup in Direct Air Carbon Capture (DACC) technology, has raised $3.9 million in seed funding. This funding, co-led by Lateral Frontiers and E4E Africa, will allow the startup to scale its efforts to remove carbon dioxide from the atmosphere, aiding the global fight against climate change. Pioneering Carbon Capture Technology in Africa Founded in 2022 by Martin Freimüller, Duncan Kariuki, and Mike Bwondera, Octavia Carbon is Kenya’s first DACC company. Its machines capture carbon dioxide (CO2) from the air and store it underground to help reduce
AMAKA Studio has successfully raised $2 million in seed funding, led by Equitane Ventures, with contributions from Morgan Stanley Inclusive Ventures Lab, Silverbacks Holdings, and several angel investors. The social publishing platform is on a mission to empower Black and African creators to reach a global audience and earn through subscriptions and gigs. Fueling Growth and Innovation The funds will primarily support the expansion of AMAKA Gigs, a platform that connects Black and African creators with brands for commissioned work, streamlining the process and ensuring fair compensation. AMAKA also plans to
Kredete, a Nigerian fintech platform, has raised $2.25 million in seed funding, enhancing its ability to serve African immigrants in the U.S. The funding round, led by Blockchain Founders Fund (BFF), also included investors like Techstars, Tezos Foundation, Polymorphic Capital, among others. Kredete’s mission is to help African immigrants build credit while simplifying remittances, transforming how they send money home. Addressing Financial Barriers for African Immigrants Kredete’s innovative approach has attracted a user base of over 300,000 and processed transactions exceeding $100 million. The platform allows immigrants to send money
Uncover, a Kenyan data-driven skincare brand, has successfully closed a $1.4 million seed II funding round to accelerate the growth of its innovative tech platform, introduce new products, and expand its market presence. This round, co-led by EQ2 Ventures and IgniteXL Ventures, saw participation from notable investors such as Chui Ventures, Samata Capital, and Altree Capital. Driving Personalization Through Data Founded in 2021 by Sneha Mehta (CEO), Jade Oyateru (COO), and Catherine Lee, Uncover has distinguished itself in the beauty industry by focusing on the unique skin care needs of
TestParty, a Black-led, AI-driven software compliance company, has raised $4 million in a seed funding round led by Harlem Capital and the Urban Innovation Fund. Founded in March 2023 by Michael Bervell and Jason Tan, TestParty helps businesses automatically rewrite source code to comply with global digital accessibility regulations. Making websites more accessible Currently, nearly all popular websites fail to meet the Web Content Accessibility Guidelines (WCAG), leaving millions of people who rely on assistive devices unable to engage with the digital world. TestParty aims to bridge this gap by
Prósperos has successfully raised $3 million in seed funding to advance its mission of empowering Latine communities through innovative financial solutions. This funding round saw investments from FEBE Ventures, BAT VC, Tekton Ventures, and Courtyard Ventures, among others. Revolutionizing Financial Services For Latine Communities Founded in 2023 by Vinay Pai and Salvador Chavez, Prósperos aims to transform the financial landscape for Latine communities in the USA and Latin America. The Prósperos platform provides two bank accounts and cards: one for the account holder in the USA and another for their
Crowdaa, a French company founded by Vigile Hoareau and Jimmy Thomas, has secured €1.2 million ($1.29M) in a seed round led by Apicap. The company aims to make app creation accessible to non-developers, allowing them to release mobile apps quickly. Initially focusing on music, Crowdaa expanded its services during the pandemic to cater to a broader audience, including sports teams, organizations, and political parties. This new funding will enable Crowdaa to enhance its technology and embark on an ambitious US expansion. Innovative Solutions For Content Creators Crowdaa’s platform allows users
Mae Health Inc., a pioneering startup focusing on minority health, has closed an oversubscribed seed funding round led by Jumpstart Nova. This investment will enable Mae to expand its tech-enabled services and tackle the significant disparities in Black maternal health outcomes. The funding round saw contributions from a variety of investors, including the Astia Fund, Impact Engine, Joyance Partners, and Gratitude Railroad, alongside early backers like RH Capital and Bright Ventures. Tech-Enabled Solutions for Maternal Health In response to the maternal mortality rates and the prevalence of maternity care deserts,
The Folklore, a platform known for connecting global consumers with African brands and diasporic fashion, has secured a substantial $3.4 million seed funding. This round was spearheaded by Benchstrength Ventures, with contributions from Techstars, Black Tech Nation Ventures, and Slauson and Co. Connecting brands with Major Retailers In 2022, Folklore underwent a transformation. Originally a shopping platform showcasing primarly African brands, it now aims to enhance how emerging brands integrate into the retail landscape. “[Brands] would come to me for advice on how to expand their footprint, how to get a loan or how