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WorkChew — a Black women-founded startup that transforms hotels and restaurants into on-demand workspaces — just announced an oversubscribed $2.5 million seed funding round raised to further the company’s mission. The round was led by Harlem Capital and saw participation from other VC firms such as Wilshire Lane Partners, Invictus Advisory Group, Techstars Ventures, and RW Capital Investments, Inc. Additionally, individual investments came from angel investors, including Kabbage co-founder Kathryn Petralia, Etsy co-founder Chris Maguire, Kyle Tibbits of Paradox Capital, and Alex Chan, formerly of UBER. The startup plans to use the new funding to further build out its team, product development, and marketing to help increase customer acquisition and build supply across the U.S. WorkChew was co-founded by CEO Maisha Burt and COO Allyson McDougal back in 2018, who at the time were two remote workers suffering from inconsistencies of not having flexible spaces to work from. According to...
Amid the early stages of the COVID-19 pandemic, proptech startup Sugar Living emerged to help enhance the at-home quarantine experience for everyone stuck indoors. Now, over a year later, the Los Angeles-born company is expanding that mission to further connect people in their residential communities through technology. This week, Sugar announced the raise of a $2.5 million seed funding round as it strives to transform apartment buildings into interactive communities with its visionary technology. The round gathered funds from strategic investors across property tech, community and innovation — including MetaProp, Agya Ventures, Concrete Rose, Debut Capital, The Community Fund, Consonance Capital, Lightspeed Scout Fund, and entrepreneur Jason Calacanis’ LAUNCH syndicate. PropTech angels investors who participated in the round also include Wasserstrum and Diran Otegbade, Oleksiy Ignatyev, and Zillow board member Claire Cormier Thielke. According to Sugar founder Fatima Dicko, the new...
When it comes to venture capital, it’s important to have people in the space who reflect the Black-owned businesses and founders they’re looking to help serve. This commitment to serving underserved communities is vital because it allows firms like Clearlake Capital and New Enterprise Associates to use their funds for buying minority stakes in investment firms which in turn equips them with the capital they need to grow. Today, the market wants to use these same partnerships to expand into newer firms specifically with founders from diverse backgrounds. Moves like this are designed for those firms seeking early-stage capital in order to build the necessary infrastructure for winning large pensions and endowments. Wilshire Lane Capital — an early-stage capital firm led by Adam Demuyakor — announced that the company would sell a minority interest to Nile Capital Group this past Friday (August 13). Nile Capital Group is a firm that stakes general partnerships. Demuyakor is a...
Harlem Capital, a diversity -focused venture capital firm, led a $3.7 million seed round for Singuli, according a press release provided to AfroTech. Founded in 2019 by Benjamin Kelly and Thierry Bertin-Mahieux, Singuli created an AI-powered platform that allows retailers to use consumer behavior to better inform inventory decisions. This seed round is the first major funding deal the company has closed, which includes participation from High Alpha Capital, AVG Basecamp Fund, existing investors Interlace Ventures and LAUNCH, as well as angel investors Paul Goodman and Darwish Gani. The fresh funding also includes a previously unannounced $700,000 pre-seed round. “Our mission is to provide commerce brands of all sizes with state of the art tools to make optimal inventory decisions,” Singuli co-founder and CEO Benjamin Kelly told AfroTech. “This is a gnarly space and there are lots of tricky problems.” Kelly was inspired to launch Singuli with Bertin-Mahieux after working as a data...