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Serena Williams is supporting innovation in women’s health. Teal Health The tennis star has aligned herself with Teal Health, a women’s health startup founded by Kara Egan (CEO) and Dr. Avnesh Thakor in 2020. According to the company website, Teal Health’s inception trickles back to Thakor’s medical experiences over the years. He observed insufficient innovation around cervical cancer screenings and created a self-collect prototype. With Egan’s two decades of experience in finance, health, and technology, the company was formed with the vision to develop an at-home self-collect cervical cancer screening kit, currently under FDA review. A user can start by requesting a kit, which initiates a vetting process to confirm eligibility. Once approved, the kit will be delivered to your home for sample collection. The sample is then mailed to a lab, and results are shared through Teal Health’s application. Users also have the option to speak with a provider for additional support. Teal...
LeBron James’ business partner and Klutch Sports Group Founder Maverick Carter is looking to own an international league. Since 2006, Carter has been working alongside James within the business world. The pair had been playing basketball together in high school, and Carter was a trusted figure in James’ life. For that reason he was tapped by the NBA superstar to assist him on the business side as his sports career was taking off. “He betted on me at a time I didn’t know what I was doing,” Carter recalled during an interview on the “ UNINTERRUPTED” podcast . “And, you know, I’m still learning every day. But he really gave me a shot and was like, ‘I’m gonna empower you.'” Since that time, Carter has been a pivotal player in James’ journey to becoming a billion-dollar athlete today. Carter has served as his manager , and they have launched several business together, including SpringHill Entertainment, which merged with British television, film, and music production company Fulwell 73...
Pryce Yebesi has raised new funding in his next era as a founder. Yebesi co-founded Utopia Labs at the age of 21 alongside Kaito Cunningham (CEO), Jason Chong, and Alexander Wu. The venture offered crypto payments and crypto treasury management, and was “trusted by leading DAOs (decentralized autonomous organizations) and crypto companies to streamline operations, manage payroll, and consolidate financial reporting,” as AFROTECH™ previously reported. Yebesi also dropped out of college to focus on Utopia Labs, which had been supported by a $1.5 million raise in 2021 and was later acquired by Coinbase in November 2024. According to information shared with AFROTECH™, Yebesi then began working as an entrepreneur-in-residence at Washington University in St. Louis, MO, and through his observations he recognized small business owners were challenged by accounting software. This prompted the launch of a new brainchild in the fintech space, Open Ledger, which was established with the help of...
Erin Harkless Moore believes artificial intelligence (AI) can improve the Care Economy. Since 2020, Moore has served as vice president and managing director of investments at Pivotal Ventures, a company launched by billionaire philanthropist Melinda French Gates to advance social progress and accelerate women’s influence globally, per its website. Gates has even committed $2 billion towards the mission. Furthermore, alongside partners, Pivotal Ventures prioritizes an expansive list of pillars within the $648 billion Care Economy, including mental health, paid medical and family leave, and women and tech innovation. Moore is tasked with leading a team responsible for selecting, investing in, and managing a diverse portfolio that adheres to Pivotal Ventures’ mission, her LinkedIn states. “We really start with our investment thesis and our direct investments in care looking at you know tech solutions that reduce burdens of care, lower cost of care, and improve access to care, and...
HBCU graduates Terry Comer and Khalil Thompson have secured new funding for their work in the NIL space. In 2021, the pair, who had an interest in college sports, united to launch NIL FanBox, marketed as the only “university-approved, player-endorsed recurring collectibles platform.” It works by sending sports fans 100% authenticated collectibles from their favorite college athletes. Its website mentions that the curated box includes three to five signed collectibles, a “Golden Ticket,” exclusive player merchandise, and digital authentication. One of its partnerships, with The University of Texas at Austin, resulted in the Longhorn FanBox, which is valued at $199 each football season and energizes fans by including “ultra-rare” collectibles and “behind the moment” interviews. Photo Credit: NIL FanBox While NIL FanBox certainly benefits fans, it also supports athletes by allocating a portion of its revenue back to them. NIL FanBox returns more than 30% of its revenue to participating...
A venture capital firm founder has launched a lawsuit against PayPal, alleging that the company’s diversity and equity program excluded her because she is Asian. Nisha Desai, the founder of Andav Capital, claims she applied for consideration in a $530 million financial commitment PayPal announced in 2020 to support Black- and minority-owned businesses , TechCrunch reported. However, she asserts that she was overlooked due to her Asian heritage, as the program primarily focused on supporting Black- and Hispanic-led enterprises. “Funds majority-owned by individuals of other races, including Asian Americans, are not given equal consideration,” Desai stated in the New York lawsuit, per the outlet. “Worse, PayPal and its senior management have repeatedly trumpeted the program’s focus on race, bragging in statements and press releases that PayPal’s program is for some races and ethnicities and not others.” Desai claims that PayPal has violated Section 1981 of the Civil Rights Act of 1866,...
Several salon owners have been awarded a grant from Beyoncé. As AFROTECH™ previously reported, the singer’s BeyGood foundation, in collaboration with her newly launched haircare line, Cécred, established a $500,000 annual fund. The initiative supports hairstylists in Atlanta, GA; Chicago, IL; Houston, TX; Los Angeles, CA; and New Jersey who meet specified criteria: They must be licensed for at least two years; have been in business for a minimum of one year; lease or own a suite, booth, or chair; and face financial hardship, according to the foundation’s website. Additionally, the fund includes a $10,000 scholarship opportunity for five cosmetology schools in the aforementioned markets. “Fostering talent, promoting professionalism, and supporting entrepreneurship within the hair industry is deeply important to us,” BeyGood commented on its website. “That’s why we’re partnering with Cécred to create the Cécred x BeyGOOD Fund, which celebrates the influence professional stylists have...
Equity-focused work may be a point of contention in today’s political environment, but it has not stopped the commitment of those dedicated to ensuring justice. Recently, Operation HOPE Inc. hosted its Hope Global Forums Annual Meeting. This convening brought together community stakeholders and influencers to discuss how to move into the future through economic, technological, and cultural advancements. During the meeting in Atlanta, GA, Hope Global Forum leader and CEO of Operation HOPE, John Hope Bryant, announced one of his goals to raise $100 million to fund the organization’s work of providing financial literacy and economic growth tools for individuals and small businesses. While providing his final remarks, Bryant confirmed that he is well on his way to receiving that fundraising amount through partners and corporations including Delta, Shopify, Truist, and Bishop T.D. Jakes. “Shopify, they’re ready for $60 million,” Bryant said. “Why did they do this? They are good people,...
Mathew Knowles has made a name for himself in the business world without the help of investors. Entrepreneurship In His DNA The businessman was seated center stage during the Building Wealth Today for Tomorrow Financial Empowerment Summit held at the UIC Forum in Chicago, IL, on Oct. 12, 2024. The event is designed to connect the community to tools, resources, and conversations that encourage the desire to create long-term wealth . “Bringing Mathew Knowles to our summit reflects our dedication to teaching real, sustainable wealth-building principles,” said Melissa Conyears-Ervin, the city’s treasurer . “His focus on generational wealth and self-funded success aligns with our goal of helping Chicagoans achieve true economic mobility. At the Treasurer’s Office, we believe everyone deserves access to the knowledge and resources to build wealth on their own terms, creating a legacy that will benefit future generations.” Photo Credit: Antwan Collins Knowles is well regarded as the...
Sometimes, the perfect collaboration starts with genuine interest and collaboration. As founder and CEO of the award-winning ad agency Walton Isaacson, Aaron Walton’s career exemplifies the mastery of leveraging celebrity and influencer partnerships to elevate brands to new heights. Walton’s impressive portfolio spans iconic collaborations, from the Spice Girls’ November 1997 campaign with Polaroid to Michael Jackson’s enduring partnership with Pepsi. Most recently, he helmed Beyoncè’s partnership with Lexus during her “Renaissance World Tour.” Walton’s work on some of the most creative advertising campaigns has made him an expert in the field. He shared his keys to success with attendees during the AFROTECH™ 2024 Conference. “Something as a brand that is important, when you’re looking at connecting with a celebrity, you have to make sure that you do your homework and make sure your cultural values are aligned,” Walton told AFROTECH™ following his session “The Art of Brand...
Dr. Elizabeth Clayborne is gaining traction in the investment world for her medical device known as the “Band-Aid for nosebleeds.” As AFROTECH™ previously reported, Dr. Clayborne is the founder of NasaClip, which was inspired by her time in residency in Washington, DC. Various patients were coming into the emergency room for an issue professionals in the medical field described as a “lower acuity issue.” “Nosebleeds are most common in kids age 2 to 10, older adults 55 to 80, who might be on blood thinners, it’s really the least likely population to manage it well. So when they can’t get that bleeding to stop, they show up to me in the ER, and they want me to treat them right away. They’re bleeding all over the waiting room demanding to be seen. But for us as ER docs, this is a lower acuity issue, but it happens to be really kind of time-consuming and cumbersome to deal with,” she said over a Zoom webinar held on Oct. 31, 2024. She continued, “I was frustrated as a resident. Often...
Raphael Akinsipe has secured new funding for his startup, SocialCrowd. Launched in 2022, SocialCrowd allows workers to track their goals and receive reminders for remaining tasks. According to their website, users are also rewarded for meeting their objectives. Akinsipe describes the company as the “Fitbit for work,” as noted by TechCrunch. “For example, we had a restaurant incentivize their staff by rewarding them $1 for every five daily specials sold,” Akinsipe told the outlet. “And in 90 days their sales grew 490%.” Initially, SocialCrowd targeted restaurants, but it later expanded its focus to blue-collar industries such as retail and manufacturing. As a result, the company has seen a monthly growth rate of 20%, TechCrunch also reported. After a recent $2.5 million funding round led by Bread and Butter Ventures and Augment Ventures, with additional investors including FullCircle, Serac Ventures, and VC414, SocialCrowd plans to expand into new industries. This comes after a $1.6...
Former NASA rocket scientist Aisha Bowe continues to champion the future of STEM. In 2020, Bowe founded LINGO, a company that offers kits allowing individuals of all ages to engage with projects that promote problem-solving and coding. The goal is to increase exposure to science, technology, engineering, and mathematics (STEM) pathways. View this post on Instagram A post shared by Lingo (@stemlingoco) What’s more, LINGO has been well received in the education sector and among Fortune 500 companies, its LinkedIn notes. It is also faring well among investors, raising $2.3 million in a November 2024 round led by Pinnacle Private Ventures, according to a news release. 1863 Ventures, Sequoia Capital via the Scout program, and Dr. Joy Johnson also participated in the round. “This funding round highlights LINGO’s potential to reshape the future of STEM education,” Sean McCurry , founder of family office-owned private investment firm Pinnacle Private Ventures, said in the news release. “We...
The NAACP has launched a “fund of funds” to scale impact within communities of color. According to a news release, NAACP Capital was formed with the support of Kapor Capital, the Kapor Center, and nine venture fund managers. It seeks to raise $200 million to fulfill its goal of investing in fund managers connected to sectors such as education, healthcare, and finance, with a focus on supporting underserved communities. Beyond capital, the initiative aims to close racial equity gaps and increase diversity within the tech industry. As part of this mission, resources and support will be provided to fund managers and founders. “As an ever-evolving legacy organization, the NAACP knows that innovation is borne out of inclusivity. Impact investing has the power to drive historic financial returns and uplift overlooked communities,” NAACP President and CEO Derrick Johnson said in a statement. “Right now, deeply entrenched systemic barriers are curtailing the innovative progress necessary to...
MaC Venture Capital has closed its third fund. According to a press release shared with AFROTECH™, the venture capital firm, launched in 2019 by former Washington, DC, Mayor Adrian Fenty and seed-stage venture capitalist Marlon Nichols , has raised $150 million in its third investment fund. Returning investors in this round include Boston College, Fairview Capital, the Los Angeles Fire and Police Pension, the Michigan Department of Treasury, Stepstone, the Teachers’ Retirement System of Illinois, and the University of Michigan. This investment brings MaC Venture Capital’s assets under management to $600 million, making it one of the largest seed-stage firms in Los Angeles, CA, and North America, per the release. “We’re grateful that we’ve grown so quickly in recent years, emphasizing that our investment framework succeeds in finding untapped potential in dynamic founders,” Fenty said. “During a time when the fundraising market looks troubling for early-stage startups, we continue to...