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There’s more to diversity than meets the eye and vegan hair extension company, Rebundle is proof of that. However, what is just as important is the team that is willing to invest in the vision of Black founders, providing them with the tools needed to not only survive but also to thrive. M25 is the early-stage venture firm dedicated to supporting startups located in the Midwest, providing them with the tools needed to not only survive but thrive within an industry that was not built with them in mind. “Supporting women founders is important everywhere, regardless of the region, but I do think we have an amazing opportunity in regions like the Midwest,” said M25 VC Partner Mike Asem in an email interview with AfroTech. “As many point out that ecosystems like the Bay Area have matured whereas ecosystems like the Midwest are still emerging, maturing, etc. We have a unique opportunity to write diversity into our ecosystem’s entrepreneurial DNA better, and earlier, than more mature ones...
Reading is one of the fundamental skills required for youth to excel academically. However, there has been a rising number of children who struggle with literacy skills. According to The Nation’s Report Card, only 33% of fourth-grade students could read at or above the basic reading level as of 2022. To be a part of keeping students motivated to read, Beanstack, formerly known as Zoobean, stepped in. Founded by husband-and-wife team Felix Brandon Lloyd and Jordan Lloyd Bookey, the edtech startup was created to not only support children’s reading growth but also grow their overall love for reading. The drive to launch the company stems from the founders’ background in education. In addition to Bookey serving as Google’s head of K-12 education outreach, Lloyd had worked in the public school system. He started out as dean of students at the SEED Public Charter School, where he was named Washington, D.C.’s “Teacher of the Year.” Then, in 2007, Lloyd was selected for Echoing Green’s...
Robinhood is embarking on a journey into sports and entertainment and tagging this businessman for assistance. According to CNBC, the financial services company will join forces with Rich Paul’s Klutch Sports Group as it looks to expand its reach. “We’re massive sports fans at Robinhood and we know our customers are as well,” said Robinhood CEO Vlad Tenev to CNBC. “Working with Rich and the team at Klutch Sports, it’s really a way to get the Robinhood brand out there to a wider audience and partner with athletes and organizations that are aligned with our customer needs.” Launched in 2012, Klutch is home to many athletes, including LeBron James. Since its inception, the company has expanded its reach across teams, leagues, properties, and more. As previously reported by AFROTECH™, despite people saying that Klutch was a company that “wasn’t gonna last,” Paul confirmed that the business has negotiated more than $2 billion in deals. “I look forward to helping guide Robinhood as they...
Will Smith and his firm Dreamers VC have found their latest product to invest in. According to a press release, the VC fund participated in a $4 million funding round for Better & Better — a wellness startup. The round was led by Fifth Quarter Ventures (FQV) and included Azure Capital, Alpaca Ventures, and more. The New York-based company aims to innovate within the oral healthcare industry in a way that betters its customers’ health and the Earth, which is how they pulled Dreamers VC in to back their mission. “We invested in Better & Better due to the brand’s focus on social good and ethos of making better habits for everyone, that are better for the planet as well,” Will Smith and Keisuke Honda’s Dreamer’s Fund stated, according to the press release. “The brand’s innovative and unique product lineup has the potential to revolutionize personal health through existing habits, making healthier living easy. We look forward to continuing to work closely as Better & Better evolves and...
You can now pay for your McDonald’s meal using Bitcoin …so to speak. According to Forbes, the fast-food giant is now the first-of-its-kind to accept Bitcoin as a form of payment in El Salvador. The move comes shortly after the Central American country announced that it accepts the cryptocurrency coin as a form of legal tender. The deal was made through the California-based payment processor, OpenNode, which has formed a partnership with McDonald’s to allow these types of transactions to take place. There are currently 19 McDonald’s throughout El Salvador, and payment using Bitcoin can be accepted in person, online, or through any delivery app. This is the first major corporation to accept Bitcoin in the country, but it certainly won’t be the last. A spokesperson for OpenNode confirmed to Forbes that they are currently in the process of onboarding several corporations who do business in El Salvador onto their Bitcoin platform. Just walked into a McDonald's in San Salvador to see if I...
Rheaply, a Black-owned climate tech company that combines a resource-sharing network with a user-friendly asset management platform, has announced that it’s raised $8 million in a Series A funding round. According to the press release, the new funding round is one of the largest ever to be raised by a Black-founded Chicago startup. Plus, a good amount of the new investors are impact funds. The company — owned by Chicago native Dr. Garry Cooper — reportedly raised this $8 million with help from such companies as 100 Black Angels & Allies Fund, Concrete Rose Capital, Hyde Park Angels, M25, MCJ Collective, Morgan Stanley Multicultural Innovation Lab, Revolution’s Rise of the Rest Seed Fund, and Salesforce Ventures. High Alpha led this initial funding round. “Today stands as a momentous day in Rheaply’s history, as this funding demonstrates a commitment from the venture community to fighting climate change and actively supporting Black-led and -founded companies,” said Dr. Cooper, CEO...
We’ve all been there. You spend an insane amount of money on a product like a smart phone or tv, just to be inundated with an additional warrantee cost. One Minnesota based founder is on a mission to change that and just might do it after a massive funding round. Clarence Bethea is the CEO of Upsie, a company specializing in offering warranties at a lower rate than the obscene amount most consumers pay and allows them to bypass going through retailers to purchase it. Here’s how it works: Upsie allows consumers to purchase a warranty 60 days after they buy a product. Since most companies have 90 day warranties from manufacturers, the cheaper Upsie warrantee would kick in when the factory warrantee ends. Users can also also store receipts and file claims. All of this is done through the Upsie app. “If you buy a product worth $900, a warranty might cost an extra $130, but that warranty might cost only $10 from the insurance company,” Bethea told Techcrunch. According to Techcrunch, the...