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NBA's Giannis Antetokounmpo Joins $27M Series B Round As Strategic Partner For Wave Sports + Entertainment

Giannis Antetokounmpo is on the money! The NBA star joined as a strategic partner for a Series B investment round totaling $27 million for sports media startup Wave Sports + Entertainment, according to a press release. The seed round was led by private equity firm TZP Group. Crossbeam Venture Partners, GPS Investment Partners, Verance Capital, Nimble Ventures, existing investors and more also participated in the round. “WSE is leading the shift to creating digital superfans by engaging audiences where, when, and how they want to consume sports content,” said Shamit Mehta, Partner at TZP Growth Equity, according to a press release. “We believe athletes, leagues, and companies will have a new way to connect with younger audiences through WSE’s successful brands.”

Samantha Dorisca

Feb 25, 2022

Virtual Trucking Carrier CloudTrucks Raises $115M Series B, Reportedly Increasing Its Valuation To $850M

Virtual trucking carrier CloudTrucks has secured a $115 million Series B funding round on a reported $850 million valuation, according to Forbes. The Black-owned company was founded in 2019 by Tobenna Arodiogbu, Jin Shieh and George Ezenna. CloudTrucks provides a tech platform that helps small trucking businesses manage their administrative duties, including scheduling, instant payments, expense tracking and more. The startup plans to use the fresh funding to expand its operations across the U.S., grow its team and further build out its proprietary tech. “Nearly every sector of the economy relies on drivers to transport its goods, and we are eager to use this latest round of funding to continue optimizing the trucking business—especially as our country needs new truck drivers more than ever,” Arodiogbu, CloudTrucks Co-founder and CEO, said in a press release.

Michelai Graham

Dec 1, 2021

Drake Invests In Plant-Based Chicken Startup Daring Foods' $40M Round

Faux meat is in and Drake wants parts! As the faux meat industry continues to boom, Daring Foods Inc., has managed to raise $40 million from investors just a little over a year after its plant-based chicken debuted last year, reports Bloomberg Green. The series B funding round was led by D1 Capital Partners along with existing investors such as Palm Tree Crew and Maveron. Amongst the investors includes Drake, who has mentioned that he’s a vegetarian adding him to the list of growing celebs that are backing faux meat like fellow rapper Jay-Z and tennis superstar Serena Williams. Daring plans to use the new funds to triple its retail distribution, which already includes products on shelves in stores like Kroger and Costco, to more than 4,500 U.S. stores this year.   View this post on Instagram   A post shared by daring foods (@daringfoods) “The first wave of plant-based was really focused on taste and texture, but then you had the sacrifice of other elements, like health,” said Ross...

Shanique Yates

May 19, 2021

Apple Led a Rare $50M Investment in Black-Owned UnitedMasters, Kicks Off New Strategic Partnership

UnitedMasters , a Black-owned music distribution platform for independent artists, secured a $50 million investment led by Apple, VentureBeat reports. Apple leading this investment in UnitedMasters is rare, and this deal begins a new strategic partnership between the pair. UnitedMasters was founded in 2017 by former Sony Music executive Steve Stoute. The company is on a mission to democratize the music industry by developing a platform that allows emerging artist to earn money and distribute their music to other notable platforms like Apple Music and Spotify. What’s unique about UnitedMasters is that artists get to retain full ownership over their work. “Were changing an industry and giving an opportunity to independent artists,” Stoute told VentureBeat. “I’m not thinking about the Taylor Swift that exists that we all know and love. I’m thinking about the next young girl who plays a guitar and could write a song that wants to be Taylor Swift.” Stoute said he plans to use the Series...

Michelai Graham

Mar 31, 2021

How Many Funding Rounds Does Your Startup Need?

Funding isn’t a one-time deal for most startups. It’s common for startups to raise capital via multiple funding rounds, each being a step above the previous. Even when a startup achieves success in a lower round, they continue to raise capital via consecutive rounds in efforts to scale their business to new heights. So, what are funding rounds? How do they work? How do you determine how many funding rounds are appropriate for your startup? We’re glad you asked. Here’s all you need to know: What is a funding round? Essentially, a funding round is a period of time where a startup sets out to raise capital in order to achieve a goal or milestone. In between funding rounds, the startup will continue to improve via sales, digital impressions, or adding new team members to increase the overall valuation, which is evaluated and assessed by potential investors. There is no standard amount of time between funding rounds which is usually determined by founders who feel their valuation has...

Devin Crudup

Nov 8, 2019