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The efforts of a financial institution created to fund underserved farmers is being put on pause. According to a news release, the U.S. Department of Agriculture (USDA) announced in October 2024 the launch of the Southern Farmers Financial Association (SFFA), a bank that would make it easier for underserved farmers to access funding. Black farmers, in particular, face greater challenges in securing loans and often encounter discriminatory practices, Civil Eats mentions. To create better outcomes, Southern Farmers Financial Association r eceived $20 million in funding through former President Joe Biden and former Vice President Kamala Harris’ Inflation Reduction Act, which would support lending and outreach, hiring full-time staff, and attracting private sector capital. “Every farmer needs affordable financing. Farmers must have reliable and consistent access to capital to be successful,” USDA Under Secretary for Rural Development Dr. Basil Gooden said in a news release. “For too...
New funding has been raised for an online learning platform helping students avoid the debt of college. Campus was created by Tade Oyerinde, also its chancellor, to provide quality education to students through accredited, career-focused degree programs led by professors from top higher learning institutions such as Stanford University, University of California – Los Angeles , and Howard University. According to its website, Campus offers online associates degrees in business administration and business administration with applied artificial intelligence (AI) concentration to participants nationally. For its Sacramento, CA, campus, it has specific offerings for students in-state such as an associate’s degree in paralegal studies as well as one in AWS cloud administration. This campus also provides certification in medical assisting, medical billing and coding, phlebotomy, technical support, barbering and cosmetology, and other programs for California residents. Furthermore, to...
Los Angeles, CA-based venture capital firm Slauson & Co. has announced a new cohort of its Friends & Family program. According to its website, the Friends & Family program benefits founders of emerging category-defining businesses across various sectors, including artificial intelligence (AI) , consumer technology, health and wellness, and fintech . The initiative offers essential capital, connections, and community support to help the founders advance business operations, attract investment, and connect with like-minded individuals in its early stages. On Wednesday, March 19, 2025, the firm announced 10 founders selected from over 800 applications, including Ballin AI, which provides AI-powered scouting and recruiting tools for athletes and athletic departments worldwide, and Coblr, a streamlined platform that connects fashion repair shops, brands, and consumers to unlock the $700 billion circular fashion market. “I couldn’t be more excited to learn from, and grow alongside, this...
Tyler Perry has provided great financial relief for 85-year-old Anniece Tisdale. According to WSMV-4, Tisdale hired an unlicensed contractor to renovate her East Nashville, TN, home to accommodate her disability and growing family. However, the project took a turn for the worse when the contractor abandoned it altogether after not meeting completion expectations. Tisdale was then left with a home unsafe to live in and thousands of dollars lost. After an interview with the local news station, Tisdale was asked by Sherri Shepherd to appear on her “Sherri” talk show, and was joined by her daughter, Yolanda, who revealed that at least $180,000 had been invested into the home renovation project. Yolanda and her husband both took out personal loans and pooled from savings and credit cards to gather the funds. Yolanda also helped to refinance her mom’s mortgage to pay for the $200,000 in renovations. “We signed the contract in January. We were supposed to be f inished March 31. It was a...
There were some initial hesitations around Unrivaled’s 3-on-3 women’s basketball league, but that has not stopped it from attracting notable investors. Unrivaled is a startup founded in 2023 by WNBA players Napheesa Collier and Breanna Stewart. As AFROTECH™ previously told you, its business model is unprecedented, offering the highest salaries in women’s sports and granting participating players an equity stake in the league. Its concept has proven to be a success among its players. “Everybody got equity coming into this league, that’s the most important thing…I know five years from now this thing is gonna be bigger than ever,” Angel Reese from Unrivaled’s Rose BC team shared during a virtual press conference held in January. View this post on Instagram A post shared by Rose BC (@rosebc) The potential of Unrivaled was not understood by all. In fact, Collier recalls receiving various “no’s” during the league’s inception. “It was hard because you think the same thing like, ‘Oh, I’m an...
President Donald Trump has laid off various staffers working at the Department of Education. As AFROTECH™ previously reported, President Trump had interest in dismantling the department. This would greatly reduce its role in the country’s education, which includes managing $1.6 trillion in federal student loan programs, overseeing K-12 school grants, and implementing civil rights law for federally funded schools. “This is an assault on every young American who went to public school like me,” Ro Khanna, U.S. representative from California’s 17th congressional district, said during a February news conference in San Jose, CA. “This is an assault on every American family who has someone who is disabled and needs the IDEA (The Individuals with Disabilities Education Act) program to provide education. This is an assault on every neighborhood in America that has a public school that gets Title 1 funding.” He continued, “This is an assault on every child who gets school lunches in America....
Calaxy wants creators to become more independent. As AFROTECH™ previously reported, Calaxy is the brainchild of tech entrepreneur Solo Ceesay and NBA star Spencer Dinwiddie. It serves as a social marketplace where users can create more meaningful experiences to engage their fans. With the added benefit of direct-to-consumer monetization, Calaxy eliminates the need to rely solely on brand and advertising deals. In 2022, Calaxy raised $26 million in a funding round led by The HBAR Foundation and Animoca Brands, with participation from Polygon. A portion of the funding was dedicated to expanding into the Web3 space. Calaxy has since developed “Worlds, ” allowing creators on the decentralized social marketplace to customize no-code apps. These apps enable creators to set up shops to sell subscriptions and digital experiences directly to fans and customers, otherwise known as the “population.” Additionally, creators can access wallets that store cryptocurrencies and NFTs, according to...
Founder Erica Plybeah responded to an inconvenience with an innovative solution that improves the quality of life for patients needing medical transport. Established in 2017, she launched MedHaul to provide safe and reliable non-emergency medical transportation to individuals, regardless of their needs, per her LinkedIn. The company was inspired by her personal challenges in finding dependable transportation for her grandmother’s medical appointments in Memphis, TN, according to its website. Her grandmother has type-2 diabetes with a double-leg amputation. Living in an underserved area also limited access to transportation, and Plybeah wanted to lower this barrier for others, which motivated her to establish MedHaul, a company that works alongside healthcare facilities, research facilities, and community organizations to ensure people have access to medical transportation. Its technology is also helpful for healthcare providers to book medical transportation appointments that can...
Tru Skye Ventures, co-founded by Metta World Peace, has invested in a new sports technology company. According to its website, Tru Skye Ventures is a $100 million fund for sport-tech innovation, fan engagement, health, and wellness companies established in partnership with Stephen Stokols. On March 4, 2025, it was announced that FanUp, a fantasy sports and pop culture platform that has 2.3 million global fans, largely Gen Z (86%) and women (55%), closed a strategic financing round led by Tru Skye Ventures and 9.58 Ventures, co-founded by Fred Toney and Omar Sillah. American tennis star Frances Tiafoe and general partners—NFL safety Jalen Mills, NFL linebacker Deion Jones, and NBA assistant coach David Vanterpool—also participated in the round, according to a news release shared with AFROTECH™. “I’m thrilled to welcome powerhouse partners like Tru Skye Ventures and 9.58 Ventures to our strategic round,” FanUp Founder and CEO Tejas Bodiwala said in a news release. “Collectively, we’ll...
Andrea Wallace has reportedly secured funding for an entertainment marketplace. In 2018, Wallace, a professional DJ with a business degree from Grand Valley State University, founded and launched Opnr, an “all-in-one data-powered” solution designed to simplify the booking process for musical talent. According to the company website, it provides concert organizers with data and analytics to help them book the right talent for local events. It also helps musicians showcase their work through an electronic press kit generator that serves as a resume, and through its FAN-CLAIM™ software, they can connect with their local fanbase. According to MLive , Opnr has been used by nearly 12,000 musicians and 800 organizers. “We’ve got pretty good traction,” Wallace said of the company, which is headquartered in Grand Rapids, MI, according to the outlet. Even so, it has not been easy to gain support in funding. “There are plenty of people in Grand Rapids who are super helpful,” Wallace mentioned,...
A scholarship for HBCU students created by the U.S. Department of Agriculture has reopened. As AFROTECH™ previously reported, the department had established the 1890 National Scholars Program, which was intended to increase opportunities for underserved and rural communities, particularly in food, agriculture, natural resources, and other related sciences. The scholarship was created in partnership with 19 Historically Black Colleges and Universities (HBCUs) that received resources under the Morrill Acts of 1862 and 1890, otherwise known as the 1890 land-grant universities. The scholarship benefits include full tuition, fees, books, and room and board. 16 Virginia State University students receiving the scholarship view it as “an invaluable resource,” 8News reports. “A lot of us … it was hard for us to come to college alone. We can barely afford it,” VSU freshman Tobias Clark told the outlet. Those very students were stunned when news broke that the 1890 National Scholars Program...
CircNova, a Michigan-based biotech startup, has completed a $3.3 million seed round to advance its technology, which uses artificial intelligence (AI) to target “circular RNA.” Crystal Brown co-founded CircNova in May 2023 with scientist Joe Deangelo. Brown told TechCrunch that it has since developed a “proprietary AI engine that allows us to identify, design, and then produce novel, non-coding, circular RNAs.” RNA, or ribonucleic acid, is present in all cells and is a key molecule that carries the instructions to convert genetic information into proteins. F irst discovered in 1976, circular RNA — a class of structures that forms a circle rather than a strand — regulates critical biological processes, per TechCrunch. The aim is to “treat diseases we haven’t treated so far, things like ovarian cancer, triple-negative breast cancer, neurodegenerative diseases, rare genetic diseases,” Brown said. CircNova’s website states that its AI NovaEngine is the first in the world capable of...
Pharrell Williams’ nonprofit organization Black Ambition has distributed $13 million to underrepresented founders since its inception. The nonprofit currently is launching its fifth Black Ambition Prize Competition, which will award early-stage entrepreneurs in industries such as consumer products and services, health care, media and entertainment, technology, and artificial intelligence (AI). Participants will have a chance to receive more than $1 million in funding. Further support will be provided over 12 weeks through mentorship, business development support, and access to its network of investors and industry leaders through the Black Ambitionist Mentorship Program in partnership with Cinematica Labs. According to information shared with AFROTECH™, $13 million has been awarded to 131 entrepreneurs since 2020. Additionally, the organization’s founder network has raised $280 million and generated over $265 million in revenue. “Five years ago, Black Ambition was an idea,” Williams...
African fintech platform Mansa has secured new funding. Mansa, founded in 2023 by Mouloukou Sanoh (CEO) and Nkiru Uwaje (COO), enables seamless cross-border payments and instant transactions for its customers. Its offerings include competitive exchange rates, virtual card processing to support cash flow management, and automated matching of financial transactions to bank statements. This is made possible by leveraging a stablecoin infrastructure, its website mentions. “We’re starting by being the primary liquidity provider to the biggest payment companies across emerging markets,” Sanoh explained to TechCrunch. “From there, we can handle payouts and also offer additional services like foreign exchange. The goal is to create a one-stop payment platform where they can finance their payments, settle transactions instantly, and access foreign currency seamlessly — all in one place.” The inception of Mansa, based in Dubai, UAE, originated from Sanoh experiencing issues receiving money...
Cherryrock Capital has raised $172 million to support diverse founders. The venture capital firm, founded in 2023 by Stacy Brown-Philpot (Managing Partner) — head of Alphabet Inc.’s online sales and operations in India and board member at HP Inc., StockX, and Noom Inc. — provides Series A and B funding to underrepresented founders of software companies driving innovation, according to its website. The VC firm, backed by a team with over 60 years of operating experience, has closed its first fund at $172 million, Bloomberg reports. “Today, I’m thrilled to announce the launch of Cherryrock Capital, the first fund focused on investing at the Series A & B stages in underinvested entrepreneurs …Cherryrock Capital is about being the foundation of success for the next generation of entrepreneurs…We’re on a mission to change the face of wealth creation and build an enduring institution. We are looking for founders who have the courage to be audacious in their vision, accountable to their...