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In January 2021, AfroTech reported that uLesson — an African edtech startup — announced it raised a $7.5 million Series A funding round for its online learning platform to make remote learning a breeze. Now, less than a year later, it has announced that it’s raised $15 million in a Series B funding round, according to TechCrunch. Five investors led their latest round — Tencent, Nielsen Ventures, and existing investors Owl Ventures, TLcom Capital, and Founder Collective — in what is said to be the largest known investment for an edtech startup in Africa.
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.
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...
With the COVID-19 crisis keeping us bound to the confines of our homes for months, and the world slowly reopening little by little, news of Squire Technologies’ Series B could not have come at a better time. Squire is a Black-owned scheduling, point-of-sale, and management app created for barbers and male groomers. With Squire, barbers can manage waitlists, set up loyalty programs, have their customers book and pay for services, and much more. Plus, all transactions are contactless and cashless, which is a major advantage in a post-pandemic society. In an announcement made on June 9, 2020, Squire has raised $34 million in Series B funding led by CRV, with participation from Tiger Global, San Francisco 49ers organization, and the former CEO and Chairman of Infor, Charles Phillips. In June 2019, Squire raised $8 million in a round of Series A funding led by Trinity Ventures, bringing their total funding at the time to $12.2 million. The tech startup can now proudly say they have...
Flutterwave , the San Francisco-based payment processing platform that has enriched the transaction infrastructure of businesses worldwide, has just made a giant leap into the investment ecosystem. The pioneering company recently closed its Series B funding round having raised a whopping $35 million . Flutterwave, led by CEO and co-founder Olugbenga Agboola , was established in 2016. Former bankers, engineers, and innovators created the company with the goal of assisting Africans in establishing global businesses by devising payment technology to link Africa to the global economy . Its payment technology was designed to facilitate seamless integration with international and domestic payment systems. The closing of the funding round and the announcement of a new partnership represents the dawn of a new day for Flutterwave. The company is now joining forces with Worldpay in Africa, broadening payment solutions across the continent. The deal sets the stage for a lucrative partnership,...