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DryMerge has raised $2.2 million to make automation easier with the help of artificial intelligence (AI). The company was co-founded by Edward Frazer and Samuel Brashears. The pair, who first met in elementary school, made sacrifices to focus their full attention on the company. University of Wisconsin graduate Brashears walked away from a role at Hive AI while Frazer dropped out of Yale University to pursue the venture, a press release mentions. The founders recently participated in the Y Combinator Winter 2024 Batch startup accelerator program. “…I’m a pretty young founder – I dropped out of Yale to build the company and my cofounder Sam had just graduated from the University of Wisconsin,” Frazer wrote on LinkedIn . “I knew very little about how people worked, what problems they had, or how to solve those problems — and importantly, I didn’t care — I figured it’d be enough to build cool technology and watch the users appear out of thin air.” He continued, “It wasn’t until midway...
People don’t refer to her as Mother Africa for nothing. The home of some of the world’s greatest natural resources is getting an economic boost with 24 African startups chosen to receive funding for startups. As released by Tech Crunch, Y Combinator released its most recent batch of awardees – W22 – that will receive seed funding for new businesses. Of the 414 startups representing over 80 sectors that are a part of this batch, the continent of Africa has received notable funding with Nigeria ranking third, having delivered 18 startups. Per the company’s norm, the United States has the most representation and India ranks second with 32 startups a part of this most recent batch. Although the United States has the largest amount of representation from a single country each year, about 50 percent of Y Combinator’s awardees come from countries outside of the country. Based on previous award batches, this is the first time an African nation has appeared this high on the list. With 24...
Vori is a digital B2B wholesale app that is shaking up the traditional ways of the grocery industry. Co-founded by Brandon Hill, Tremaine Kirkman, and Robert Pinkerton, the online wholesale marketplace uses its technology to modernize the process of ordering for supermarkets. Its technology is a win-win for local retailers and local distributors as it has created easy steps for wholesale ordering. AfroTech previously shared that in 2021, Vori secured $5.7 million in funding from YCombinator, Greylock Partners, South Park Commons, and more — earning Hill and Kirkman spots on Forbes’ 30 Under 30. Since the startup’s launch, the Vori team has received praise and recognition from people who have expressed that they’ve “been waiting on a solution like this their entire career.” Their innovation has led to investments including Mollie Stone’s Markets, an independent family-owned grocery store chain with locations in California — where Vori is based. The heart of Vori’s mission is...
Minority founders are getting a special kind of support from one of the most successful startup accelerators in Silicon Valley. Y Combinator — a business accelerator — has launched a new feature on its website called the YC Directory to help investors, customers, and prospective founders discover all Y Combinator-backed companies created by Black founders. View this post on Instagram A post shared by Y Combinator (@ycombinator) According to a company blog post , the directory lists over 2,000 publicly launched startup companies from the accelerator with three new built-in filters to highlight Black-founded companies, Latinx-founded companies, and women-founded companies. Courtesy Photo The idea for the new directory was inspired by internal conversations during the aftermath of the recent Black Lives Matter protests, according to the blog post. The consensus from the community was to then create landing pages to amplify Black, Latinx, and women founders in the Y Combinator fixture....
The need for more inclusion in tech for minorities is all too apparent today, and companies all over are working to enact more initiatives dedicated to this cause. YC Company Plato — the largest mentorship platform for engineering managers and engineers — has launched a new program called Circles for Inclusion, which aims to give underrepresented groups access to the best tech leaders through group mentorship. According to Quang Hoang, the CEO of Plato, the program will allow participants to join a “circle” that meets on a regular basis to discuss various topics such as leadership and career opportunities. Photo Credit: Plato The reason behind the new program according to Hoang is “mentorship for people of color in the tech industry is one of several systemic factors that prevent them from obtaining senior positions and achieving their career potential.” The mentorship program will essentially connect neglected groups with a network of powerful leaders in the tech industry through...
Like so many black Americans, I have been inundated with a deluge of emails, letting me know that I am supported and cared for by the corporations and people that surround me in Silicon Valley. This is my response to one of those emails from AngelList. AngelList is not the only one, but it presents the quintessential example of the lipservice we feel when receiving “emails of support” from the same companies, funds, firms, and people that routinely overlook and underestimate us. I have included the email below for reference. AngelList Dear AngelList, I really had to think long and hard about whether or not to respond to this “email of support.” Like so many black Americans I have been inundated with emails feigning support for us, our communities and our plights. We are overwhelmed with the everyday burdens of being black, and now we feel obligated to congratulate the rest of society for finally waking up. When support is genuine, we genuinely feel the love. However, when it is...
On Wednesday, Reddit announced the appointment of Y Combinator CEO Michael Seibel as Reddit’s new board member. The news comes just one week after co-founder Alexis Ohanian resigned amid global protests against racial injustice. Ohanian stepped down as “an act of leadership from people in power” and requested that he be replaced by a Black candidate. “I want to thank Steve, Alexis, and the entire Reddit board for this opportunity. I’ve known Steve and Alexis since 2007 and have been a Reddit user ever since,” Seibel said in a statement. “Over this period of time I’ve watched Reddit become part of the core fabric of the internet and I’m excited to help provide advice and guidance as Reddit continues to grow and tackle the challenges of bringing community and belonging to a broader audience.” Welcome to the Reddit family, @mwseibel ! Joining as our newest Board member, Michael brings an extensive background in growing social tech companies and is passionate about increasing diversity...
Black professionals in any industry have faced their challenges trying to fit into spaces that weren’t designed for us. So, it’s always great to see young, successful Black entrepreneurs paying it forward by creating opportunities for people who look like them – starting with the youth. For Black college students interested in getting involved in the tech industry, YCombinator funded startup company Edlyft is here to help equip you with the knowledge and tools you need to succeed: “Edlyft is creating 1 million new computer science college graduates over the next decade. We help college students pass their most challenging computer science classes by offering group tutoring, connecting them to study groups, and passing down guidance from peers who’ve done it before.” I spoke with Erika Hairston and Arnelle Ansong, co-founders of the newly funded startup, to hear their story behind building this company that’s catering to Black college students interested in joining tech. Origin...
Y Combinator , a California-based investor that provides initial funding to startups, is offering a new schedule for the new year. According to TechCrunch, Y Combinator’s modified calendar will reflect updates to the once annual Startup School, which will now be offered several times per year . The move has the potential to push more startups through the investor’s online training process, which ultimately grooms them for Y Combinator’s accelerator program. Startup School is true to its name, offering startups video chats, lectures from industry leaders and company staff, access to other founders, and the ability to network with other startups. School culminates with a founder project demonstration, attended by investors and media representatives. Program alumni benefit not only from tutelage they receive, but also from their ability to apply to Y Combinator’s grant program. The program, which is currently being reassessed, has recently offered founders grants of $15K. Y Combinator...
Incubators and accelerators both offer resources for startups and small businesses to successfully develop and grow. Although the terms are sometimes used interchangeably, incubators and accelerators provide different services and benefits. And not all startup programs can be classified as either, said Ian Hathaway, research director at the Center for American Entrepreneurship. “There is a lot of noise in the early-stage business support market — a lot of different models and inconsistency in terminology,” Hathaway said. Incubators and accelerators both provide mentorship, technical assistance and, in some cases, funding opportunities. Incubators typically offer long-term support (possibly spanning several years), and are available to a broad range of companies. On the other hand, accelerators are generally short-term, industry-specific programs for startups. Editorial Note: This content is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or...
Black founders have a tendency to be overlooked in the tech industry. Overall, Black founders represent one percent of venture-backed companies, according to CB Insights. The #ProjectDiane study by DigitalunDivided reported Black women-led startups have raised $289 million in venture capital funding since 2009. This only accounts for .0006 percent of the $424.7 billion raised in venture funding during that time. Programs like Backstage Accelerator—which last month announced the launch of training programs in four different cities for underrepresented tech founders —offers small companies led by diverse founders support for accessing venture capital to help to build successful businesses. Check out the list below to learn about some other incubators and accelerators. NewMe In 2017, NewME startup accelerator moved their program from the Silicon Valley to Miami in an effort to better serve entrepreneurs of color. “The old [accelerator] model works for a particular type of entrepreneur....
If you’re the “genius Black architect” of that uncommon platform creating market re-defining, preconception shattering, totally disruptive innovation–this is for you, and your revolutionary, eye-opening, mind melting, irresistible product. You’ve got the “once in a generation,” universal-need addressing, unreachable-itch scratching, solution — that VCs refuse to fund. As an attorney living in Silicon Valley, I’ve helped women, Black, and minority founders close about $50 Million in investments and I’m on a mission to create access to $1 Billion by 2025. While pursuing the mission, I’ve formed friendships with the top venture capital firms in the nation, as well as a majority of the Black institutional and individual investors. I’ve been able to help with many of the investment deals you’ve read headlines about. I want to share what I’ve learned so far and hopefully help spark a Black entrepreneurial renaissance (especially since now, we can leverage all of this new knowledge aunty...
In this interview for OF10podcast , a podcast focusing on prominent minorities in the tech industry, host Will Lucas and entrepreneur Dave Salvant discuss never giving up on your dream. Dave Salvant is co-founder of Squire , an app that enhances the barbershop experience for both customers and barbers – allowing people to book and pay for cuts at the push of a button. I originally met Dave when we were shooting an episode for Puff Daddy’s REVOLT TV channel in New York. I found him to be incredibly inspiring. He’s a Y Combinator alum , and dropped out of his MBA program at Wisconsin-Madison to found Squire. I caught up with him to talk about Squire, his path to creating the company, and why its so important to stay the course. Note: This portion of the interview is derived from the audio interview heard on the OF10podcast with Will Lucas . To hear the podcast, subscribe in iTunes , Google Play, or wherever you get your podcasts. This interview has been edited for length. Will Lucas:...