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The AFROTECH ™ community continues to push the mission and discussion of inclusivity in the tech space. As we gear up for AFROTECH™ Conference 2024, let’s dive into a session of the past. View this post on Instagram A post shared by AFROTECH™ Conference (@afrotech.conference) On the Executive Stage at the 2023 AFROTECH ™ Conference, Kapor Capital’s founding partners Freada Kapor Klein and Mitch Kapor were part of the panel “Closing The Equity Gap: C reating Wealth and Fostering Justice in Startup Investing” — titled after their book, released in March 2023. Alphonzo Terrell, co-founder and CEO of social media platform Spill, moderated the panel, addressing equity gaps in the startup landscape and how to build a more inclusive future. Klein and Kapor shared that the company has invested more than $106 million into over 170 companies, 62% of which are women-led or underrepresented founders , according to their website . In addition, Kapor Capital has achieved an internal rate of...
To advance maternal and pediatric care, Cayaba Care has announced new funding. According to a press release sent to AfroTech, the Black-owned health startup has raised $12 million in a Series A funding round. The funding was led by Seae Ventures and Kapor Capital. Wellington Partners, Citi Impact Fund, and Rhia Ventures also participated in the round. To date, the company has raised $15 million with return investments from 100 percent of its institutional seed round funders including Digitalis Ventures, SteelSky Ventures, and Flare Capital.
Bootup has secured new funding. According to a blog post, Bootup — a company that aims to help individuals land jobs in tech — has raised a seed round totaling $2.1 million. The round was led by Kapor Capital, in addition to participation from Lightship Capital, other Black-led funds, investors, and more. “I feel that allocation of capital is the most useful form of activism in a capitalist society,” said Founder and CEO of Bootup, Chandler Malone, in a statement. “This idea was inspired by a conversation with Candice Matthews Brackeen back in 2018 and led to us being intentional about raising from all Black-led funds and angels for our seed round as our work is directly focused on targeting the wealth gap.”
Upsie, a consumer warranty startup led by Clarence Bethea, has raised $18.2 million in a Series A round led by True Ventures, according to a press release. The St. Paul, MN-based startup’s mission is to provide affordable and reliable warranties for electronic devices. Other notable Venture Capital (VC) firms and angel investors also participated in the round, including Concrete Rose VC, Avanta Ventures (CSAA Insurance Group, a AAA insurer), Kapor Capital, Samsung Next, Massive, Backstage Capital, Awesome People Ventures, Imagination Capital, Uncommon VC, Marc Belton, Daren Cotter (Founder and CEO of InboxDollars), George Azih (Founder and CEO of LeaseQuery), Richard Parsons, and several others. Upsie was born out of frustration with the expensive warranties consumers are often offered with their electronic device purchases. “Oftentimes when you walk into that big box store, they’re charging you so much money. They’re charging as high as 900% more than they should,” Bethea explained...