It’s February, which means it’s finally Black History Month. It’s a time when Black people reflect on the triumphs, victories, and achievements Black people have made in the country. While it’s essential to look back at what Black people have overcome, it’s also important to acknowledge the history Black people are making today. Black innovators are shaping the future in every industry, and the tech world is no exception. Here, we spotlight eight Black-owned tech startups that are driving change, creating opportunities, and making a real impact in Black communities.
The UK startup Domna has secured a £70 million ($87 million) majority investment from private equity firm Leon Capital, according to Tech Funding News. The company is one of the leading home energy efficiency and retrofit services, and it has now received one of the biggest first-time raises for a female founder team in Europe. The team plans to improve home energy efficiency and support sustainability initiatives. Their outlook on home energy efficiency examines the UK’s retrofit challenge by combining advanced software with practical expertise. Now that Domna has the
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
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
BlackRock Inc. executive Adebayo Ogunlesi has joined OpenAI’s board of directors. The billionaire investor has experience in infrastructure investing, aligning with OpenAI’s to expand data centers and energy resources to grow AI development. Ogunlesi, a senior managing director and board member at BlackRock, joined the company last year after it bought his previous business, Global Infrastructure Partners (GIP), for around $12 billion, making him a billionaire. Who is Adebayo Ogunlesi? Ogunlesi created GIP in 2006 before spending 23 years at Credit Suisse, holding several senior positions such as Executive Vice
Startups in Africa raised $2.2 billion in 2024, with Kenyan startups receiving the most funding, according to Africa: The Big Deal. For the second year in a row, Kenya secured the most funding in Africa, raising $638 million, with 88% of the total amount raised in East Africa. How much money was raised in Kenya and East Africa? East Africa raised $725 million in total, equal to 1 in 3 dollars raised in Africa. Kenya received $638 million in funding on its own, which makes up 88% of the overall
Africa’s startups raised $2.2 billion in equity, grants, and debt (excluding exits). While this is an impressive figure, it highlights a 25% decrease compared to last year, when startups in Africa secured $2.9 billion, according to ‘Africa: The Big Deal.’ Who were the major key players? The total of $2.2 billion was primarily driven by two significant deals by Nigeria’s Moniepoint and South Africa’s Tyme Group. A gross of 188 ventures secured $1 million or greater (excluding exits) in funding, 10% less given in 2023 despite the 25% dip in
Google’s Black Founders Fund (BFF) has helped startups across Africa and Europe raise $379 million in funding and create over 6,000 jobs collectively. This marks a turning point for Black-led startups, which have historically faced limited access to capital and support, attracting less than 1% of global venture capital. Non-Dilutive Funding Accelerates Growth Established in 2020, the BFF addresses systemic racial inequities in venture capital. The program offers equity-free funding, mentorship, and resources tailored to Black entrepreneurs. So far, over 220 African startups have benefited, with their growth rates surpassing
TJ Taylor, who previously helped shape popular platforms like Raya and Dispo, has entered the venture capital world with the launch of Hobart Ventures, an $8 million fund dedicated to consumer-focused startups. Built from Taylor’s experience in consumer tech, Hobart Ventures will focus on early-stage investments in a sector often overshadowed in traditional VC circles. Hobart Ventures Aims to Support Early-Stage Consumer Tech Taylor’s pivot to venture capital comes after years in the tech industry, where he not only co-founded a stock app but also played a key role in
Female Founders Fund (FFF), an early-stage investment firm focused on female-founded startups, has successfully returned its first fund, a $5.85 million investment launched in 2014. This milestone positions FFF as one of the few diversity-focused funds to achieve full returns on an inaugural fund. FFF’s Early Vision Yields Strong Returns Founded by Anu Duggal, Female Founders Fund’s initial mission was clear: support female founders at a time when few investors prioritized women-led businesses. FFF’s portfolio includes investments in now-prominent companies like Maven, a healthcare unicorn focused on women’s and family
