Black founders raise highest amount of quarterly funding since 2022, but there’s a catch
Key points
- According to Crunchbase’s latest data around black founders, $643 million has poured into US Black-founded startups since the beginning of the year — an amount not seen since 2022, when Black founders raised $653 million in funding.
- For context, Black founders raised $942 million of all venture dollars last year (that’s 0.32% of the $290 billion total, per Crunchbase estimates).
- That means in just a few months, Black founders have already raised almost 70% of what was they raised in all of last year.
- Driving this funding are just a handful of deals (34, to be exact, per Crunchbase), most notably the $350 million Series E raised by AI hardware company SambaNova, followed by the sports prediction startup Noviq (which raised a $75 million Series B) and the YC-backed AI insurance platform Harper (which raised $47 million).
- Still, though the $643 million raised so far is a record sum compared...
Quick Summary
According to Crunchbase’s latest data around black founders, $643 million has poured into US Black-founded startups since the beginning of the year — an amount
Why It Matters
This development is important because it may impact public opinion, policy decisions, and future developments related to Black founders raise highest amount of quarterly funding sin.
Key Takeaways
- According to Crunchbase’s latest data around black founders, $643 million has poured into US Black-founded startups since the beginning of the year — an amount not seen since 2022, when Black founders raised $653 million in funding.
- For context, Black founders raised $942 million of all venture dollars last year (that’s 0.32% of the $290 billion total, per Crunchbase estimates).
- That means in just a few months, Black founders have already raised almost 70% of what was they raised in all of last year.
- Driving this funding are just a handful of deals (34, to be exact, per Crunchbase), most notably the $350 million Series E raised by AI hardware company SambaNova, followed by the sports prediction startup Noviq (which raised a $75 million Series B) and the YC-backed AI insurance platform Harper (which raised $47 million).
- Still, though the $643 million raised so far is a record sum compared to the past few years, Crunchbase makes note that it’s still quite small compared to the $252 billion U.S startups have raised overall in the same period, and doesn’t really suggest that significant progress is being made.
📌 Source: Dominic-Madori Davis
The BriefWire