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Kofa , a Ghana-based energy tech startup, secured $8.1 million in a pre-Series A funding round to expand its AI-powered battery-swapping network across Africa, as Techpoint Africa reports. According to the outlet, the investment consists of $3.25 million in equity, $4.32 million in debt, and $590,000 in grants, and was co-led by E3 Capital and Injaro Investment Advisors. Additional contributions came from the Shell Foundation and the UK Government’s Transforming Energy Access (TEA) platform, as well as Penso Power’s CEO Richard Thwaites, among others. “This funding validates our vision to transform urban Africa’s energy landscape, and we are committed to building the ecosystem necessary to make this a reality,” Erik Nygard, Kofa’s founder and CEO, said in a press release. “The shift to cleaner energy, for both domestic and commercial use, goes beyond sustainability — it drives real economic impact, but for this transition to succeed, several key elements must come together.” Nygard...
Google is doubling down on its move away from DEI goals. As AFROTECH™ previously reported, a shift away from diversity, equity, and inclusion (DEI) have been occurring across the nation. This has been seen in the venture capital space, with funding for Black-owned businesses being challenged in court. At the federal level, when he took office President Donald Trump signed an executive order to dismantle DEI-related “mandates, policies, programs, preferences, and activities” in the federal government, Business Insider notes. These changes, combined with political and legal pressures, have driven major companies to rethink their DEI initiatives. Some big tech companies, such as Meta, Amazon, and Google, have retracted their DEI commitments. “We’re committed to creating a workplace where all our employees can succeed and have equal opportunities, and over the last year, we’ve been reviewing our programs designed to help us get there,” a Google spokesperson told Business Insider in...
After her first business failed, Carolyn Rodz is now making it her mission to help other entrepreneurs succeed. Rodz was an investment banker for JPMorgan Chase between 2001 and 2005, per her LinkedIn. After exiting her job, she ventured into entrepreneurship , but that did not fare well, leading her to reenter the workforce. Although this was a trying time, it did not deter her from entrepreneurship altogether — she launched Cake, a digital media company, in 2009 and exited in 2015 — and it paved a pathway of opportunity for a wider community. “I knew very little about starting a company and my first business failed,” Rodz said in an interview with the “Black Tech Green Money” podcast. “I went back to work, paid off debts, licked my wounds for a bit, started a second company that I ultimately sold, ran it very differently with the lessons that I learned and feel very fortunate that I got to start over again because many people don’t have that opportunity. I was young and single and...
Kenneth Duncan has secured a partnership with the PGA TOUR Superstore for his golf brand. Launched in Atlanta, GA, in 2019, Renegade Golf was born after Duncan saw a lack of diversity and innovation in golf marketing and country club environments, according to the company website. Duncan carries more than 15 years of experience as a golfer and nearly four years working as a management consultant for Accenture. He bootstrapped the golf venture and also tagged his business partner Drew McLeod for its vision, which formed initially as a direct-to-consumer golf bag company, Forbes reports. “A bag can really show off your identity and who you are—like an art piece. Almost all our bags are customized because that’s how the PGA TOUR players do it. You have your name, a logo and something that represents you,” Duncan told the outlet. Renegade Golf favored well among Black Greek Organizations and Historically Black Colleges and Universities. The brand overall caters to amateur golfers and...
South Carolina State University (SC State) has received funding to support research in science, technology, engineering, and mathematics (STEM). According to WCIV-4 News, the Historically Black College and University (HBCU) has received $8 million, which will go toward education and research within its College of Science, Technology, Engineering, Mathematics, and Transportation (STEM-T College) and Savannah River National Laboratory (SRNL) workforce development. “I thank Gov. Henry McMaster and the General Assembly for supporting this visionary milestone in the development of SC State and our partners in this critical endeavor,” SC State President Alexander Conyers said, per WCIV-4 News. Elbert R. Malone, SC State associate provost for research and sponsored programs, added: “These funds will be transformational to the STEM-T College because it will provide an opportunity to build a robust research infrastructure that will allow the university to compete in the research arena on...
A Black-owned pharmacy is opening in St. Louis, MO. According to a news release, GreaterHealth Pharmacy & Wellness has opened in St. Louis to serve 45,000 residents who had been without a pharmacy in their area. St. Louis native Dr. Marcus Howard founded GreaterHealth Pharmacy & Wellness, the first Black-owned pharmacy in Missouri. He had left the St. Louis area to pursue a degree in higher learning, obtaining a bachelor’s degree and a Ph.D. “I went to North Carolina to pursue my undergrad degree and my Ph.D., and I returned home to really take all the things that I learned out in the community in other places and bring them back home because I know St. Louis is a great place. It’s my home. I just wanted to just bring something back and make a difference,” he said in an interview with Nine PBS. Dr. Howard wanted to become a doctor because he recognized the disparities in the local area, especially in healthcare. He aimed to eliminate those disparities. “Growing up in North City, you...
Once again Morehouse College is bringing innovation to the classroom. As AFROTECH™ previously reported, the Historically Black College and University (HBCU) made history in 2022 for being the first college to offer classes in the metaverse. Less than two years later, it is now poised to disrupt the education landscape for the better through the launch of reportedly the world’s first fully spacial artificial intelligence (AI) teaching assistants. Muhsinah Morris, a senior assistant professor in education and metaversity director at Morehouse College, developed the technology in spring 2021 with the assistance of faculty such as Ovell Hamilton, Ethell Vereen Jr., and Tanya Clark, she mentioned on LinkedIn. She also benefited from a partnership with VictoryXR and received backing from Southern Company, Qualcomm, Meta, Unity, the National Science Foundation (NSF), and T-Mobile. “I am so proud of Morehouse College Metaversity Faculty and MetaHouse Scholars who keep this work going full...
85-year-old Shirley Smith has fulfilled her academic dreams. Raised on a tobacco farm in Wilmington, NC, Smith eventually had to move to Somerville, NJ, because her father needed to earn more money to support the family of six children after tobacco rates fell, Fox News Digital reports. By this time, Smith had left her academics behind, leading her to fill her time with jobs, including at a dry cleaner and a pocketbook factory. “I was going to the 10th grade, and I told him, the biggest mistake that I made, I think, was telling him that I didn’t want to go to school,” Smith told the outlet. “And he said, ‘Go to work.’” Smith eventually had a family of her own and moved to Georgia. Although she considered vocational school, she never completed her studies as her days were spent caring for her growing family. Still, Smith instilled the importance of education in her home and required her children to finish school if they were to live under her roof. “Matter of fact, they cried to go...
Ghana is stepping up to the plate to be a part of Africa’s electric vehicle (EV) movement. Wahu Mobility seems up for the challenge as it has opened Ghana’s first EV assembly plant that has the capacity to build about 200 e-bikes per month, CNN reports. The e-mobility brand was founded to create a more sustainable last-mile delivery option. View this post on Instagram A post shared by Valerie Labi (@valerielabi) “It really kind of struck me that I didn’t want the mobility to be fulfilled by petrol motorbikes,” Wahu Mobility Co-Founder and CEO Valerie Labi told CNN. “By 2030, there will be 30 million delivery riders across Africa and it just made me think, as a continent, we are more conscious around becoming sustainable and moving to net zero.” Labi added, “And transport was just a huge opportunity to make a difference in that way.” According to the outlet, Wahu Mobility’s e-bikes take around four hours to charge. Labi also noted that the e-bikes were designed to suit Ghana’s...
Meet Emeline King, the woman who developed the interior design of one of America’s most beloved cars. According to the Ford Performance blog, after 80 years of business, Ford Motor Company hired its first Black female car designer, Emeline King, who would soon help the company develop the concept that led to the interior design of the 1994 Ford Mustang. Her father, Earnest O. King Sr. — a Ford Motor Company fabrication specialist — introduced Emeline King to the brand at a very young age. Ultimately, Emeline King “fell in love with the 1968 Ford Mustang” after taking a trip with her father to the auto show; as they say, the rest was history. View this post on Instagram A post shared by Something Black Made ® (@somethingblackmade) “I loved to play with toy cars when I was a child. It was an insult to give me a doll,” said King to Ford. King was raised in Detroit, MI, the place dubbed the Motor City for its role in the Industrial Revolution and home to many of the automotive...
A Lagos, Nigeria-founded mobility fintech has secured a historic investment. TechCrunch reports that Moove has announced a $100 million Series B funding round led by Uber — marking the rideshare company’s first investment in Africa. Now, Moove’s valuation is $750 million. “ Today’s announcement marks a significant milestone for us,” Moove Founder Ladi Delano shared in a press release. “When we founded Moove in 2020, we were motivated to solve the acute shortage of vehicle financing that over two million African mobility entrepreneurs faced.” He continued, “This validation from Uber and others stands as a testament to the fact that what was once a dream is now a palpable reality. This infusion of capital is set to amplify the immensely positive impact our products have in the lives of our customers on a much broader spectrum. I would like to extend my heartfelt gratitude to our dedicated team of Moovers for their relentless effort and commitment, which has been pivotal in reaching...
A new platform has emerged to refine the relationship between artists and their fans. Co-founders Darin Stewart (CEO) and Marleisse Stephens (CMO) are the visionaries of Happy Monday, a remix platform driven by artificial intelligence (AI) and their respective creative agencies. The goal is to keep the power in the hands of artists by enabling them to profit from their songs while also granting users the freedom to create various versions of the songs.
