The United States is home to some of the largest and most influential brands, yet Black-owned U.S. businesses with at least one employee represent a fraction of these companies. They face significant obstacles, from access to capital to other institutional barriers. Challenges include everything from accessing venture capital to discriminatory lending practices. Still, in recent years, Black businesses have grown, with regions like Washington D.C., Maryland, and Georgia leading the way. And, of course, some Black-owned brands have consistently exceeded expectations, crossing the billion-dollar mark in assets, revenues, and valuations. Today, we highlight these Black U.S.-based billion-dollar businesses and their inspirational journeys to the top. These businesses from different industries dominate their respective fields and achieve immense success for their owners. Global Infrastructure Partners Global Infrastructure Partners (GIP) is an
Author Archives: Stephen Oluwadara
Mar
Kenyan Leta has raised $5 million to help businesses move goods cheaper and faster across Africa. European VC firm Speedinvest led the seed funding round, which was supported by Google’s Africa Investment Fund and Equator, an Africa-focused climate tech fund. The new funding will be used to scale its solution and to double revenue in the coming months as it expands into more countries across Africa. How Leta’s Platform Work African businesses spend up to four times the global average to transport goods, driving up prices for essentials like food and medicine. The African Development Bank (AfDB) reports that logistics costs account for a staggering 75% of total product costs in Africa. Most of these businesses also have to rely on manual logistics, leading to delays. Through its AI-powered platform
Mar
The American Geophysical Union has made history by electing Dr. Brandon Jones as its first Black president. Jones graduated from Lincoln University, an HBCU, with a degree in biology. He also holds a master’s degree and a doctorate in Marine Sciences from the University of Delaware. Launched in 1919, AGU supports more than half a million advocates and professionals in Earth & space sciences. Speaking with Forbes, Dr Jones says his vision for the organization is to “continue to develop the elements of future adaptiveness and maintain a posture of future preparation. As the largest professional society in the world for Earth and space science, AGU needs to focus on sustainability in a rapidly changing social and political environment.” “When asked how this historic achievement is important to him, he said
Mar
SymbyAI, a SaaS platform leveraging AI to streamline scientific research, has secured $2.1 million in seed funding. Prominent investors who participated in the round include Drive Capital, CharacterVC, and others. The company plans to use the fresh seed capital to enhance platform capabilities, strengthen partnerships with research institutions, and expand its reach within the scientific community. SymbyAI is Streamlining Research Processes Scientific research has long been hampered by outdated processes, scattered resources, and inefficient collaboration tools. Researchers typically have to spend months reviewing papers, replicating experiments, and navigating fragmented data sources. Consequently, SymbyAI, an AI-powered SaaS platform, is solving these challenges by streamlining the research process and enhancing collaboration for scientists worldwide. Related Post: Crystal Brown’s CircNova Raises $3.3M to Accelerate Development of RNA Therapeutics Founded in 2023 by Ashia
Mar
Athletes have long been known for their prowess in the sporting arena, but increasingly, many are diversifying their wealth by tapping into the world of technology. Investing in tech companies allows these high-profile sports figures to secure long-term financial growth and make their mark outside sports. In this article, we will examine how Serena Williams, LeBron James, Kevin Durant, Stephen Curry, and Tom Brady have leveraged their financial success to make significant investments in technology, creating a path to future wealth and influence. Serena Williams – Serena Ventures Serena Williams is not only a tennis legend, but she has also positioned herself as a key figure in the world of venture capital. In 2014, Williams launched Serena Ventures, a venture capital firm that focuses on investing in companies led by
Feb
Nigerian fintech Raenest has raised $11M in Series A funding to expand its reach across Africa. Led by QED Investors, the funding round also got participation from pan-African VC firms Norrsken22, Ventures Platform, P1 Ventures, and Seedstars. The fintech startup will look to deepen its presence in Nigeria and secure licenses in Egypt, Ghana, Kenya, and the U.S. What is Raenest As Africa’s tech ecosystem continues to blossom, more people from the region are landing remote jobs with big tech firms and global startups. However, receiving payments remains an obstacle for many freelancers and remote workers. They struggle to open accounts that accept U.S. dollars, face slow invoicing and payment processes, and it doesn’t help when their foreign employers use incompatible payment platforms. Related Post: Nigerian B2B Payment Startup, Klasha
Feb
UK-based solar tech startup GRYD has secured $1.2 million (£1 million) in pre-seed funding to build the nation’s first solar subscription platform. Black Seed VC, an early-stage venture firm dedicated to Black business founders in the UK, and SFC Capital, an investor in disruptive UK companies, participated in the round. Other notable investors include Oasthouse Ventures, whose Director, Simon Turner, has financed and scaled renewable infrastructure businesses globally. The solar tech startup will use the investment to fund its national expansion. GRYD’s Affordable Solution For Residences Mohamed Gaafar, Scott Whiteside, and Tom Jordan founded GRYD in 2023 after meeting at the Antler accelerator program in London. They envisioned creating a subscription-based solar power service, allowing homeowners to access solar power without upfront costs. The solar tech startup has developed a
Feb
The United States continues to dominate the global wealth landscape, with eight of the 10 wealthiest billionaires based stateside. However, the Forbes 2024 list shows that of the nearly 3000 billionaires worldwide, only 17 are Black. Regardless, Black entrepreneurs continue to defy the odds despite the obstacles stacked against them. According to 2021 Census data , Black-owned businesses in the U.S. generated $206 billion in annual revenue and supported 3.56 million U.S. jobs. There are 13 Black billionaires in the United States today. This elite group of leaders has carved out successful careers in media, sports, technology, finance, and entertainment. As we celebrate Black History Month in February, we delve into their journeys to success, showcasing their inspirational stories. David Steward The wealthiest Black American—with an estimated net worth of $11.4B—David Steward grew up in the
Jan
SeamlessHR, a Nigerian startup helping businesses manage HR functions, has raised a $9 million Series-A extension round. The new funding from the Gates Foundation and Helios Digital Ventures brings the startup’s total funding to $25 million. The company plans to use the investment to expand across Africa, which may include acquisitions. Last year, the company reportedly held talks to acquire another HR tech startup in Nigeria. A Step Closer To Redefining Africa’s Productivity Although the company set out to raise $10 million, it eventually raised $9 million. This new funding comes months after SeamlessHR launched new embedded finance products that enable employers and employees to access critical financing solutions, including payroll financing, to fuel their growth and business performance. Related Post: African Remittance LemFi Secures $53M To Expand Into Europe
Jan
OpenAI has announced the appointment of Nigerian billionaire Adebayo Ogunlesi to its Board of Directors. Ogunlesi’s addition signals a strategic pivot for OpenAI, focusing on long-term global strategy, governance, and innovation in artificial intelligence. OpenAI described Ogunlesi’s appointment as integral to its mission of responsibly advancing artificial general intelligence (AGI). With decades of experience and leadership expertise across critical domains, including infrastructure investment, corporate strategy, and regulatory frameworks, Ogunlesi will bolster OpenAI’s ability to navigate the complex landscape of AI development and its real-world implications. OpenAI’s Board Chair, Bret Taylor, praised Ohunlesi, saying, “Bayo has an exceptional track record of driving success in organizations with global reach, expertly navigating complex and dynamic commercial landscapes. We’re honored to welcome him to the Board.” Related Post: Adebayo Ogunlesi Joins Africa’s Billionaire After
Jan
Camarria Williams, a Chicago middle schooler, has uncovered a cancer-fighting compound in goose poop. The droppings that the 13-year-old collected contained a novel compound that scientists at the University of Illinois Chicago found to be toxic to human skin and ovarian cancer cells. STEM Program For Underserved Communities Williams made the discovery while attending the Chicago Antibiotic Discovery Lab—a 14-week STEM outreach program at the Boys and Girls Club in partnership with the University of Illinois Chicago. In a class assignment, she learned how to isolate bacteria and program a robot to catalog and track antimicrobial activity. She was drawn to the program for its unique hands-on experiences for local STEM students. “We walked around and they had these chemicals, and they were working on something. It was just fun,”
Jan
Gen Z founder Pryce Yebesi has secured $3M for his recently launched startup, Open Ledger, which aims to modernize accounting for businesses with AI-driven solutions. The funding round was led by Kindred Ventures with participation from Adventure Fund, Jonathan Chang from Brex, Guy Friedman, the CEO of SteadyMD, and Zach Abrams, who just sold his company Bridge to Stripe. The company will use the new capital to hire talent in product, engineering, and business development. Ideating Open Ledger Pryce Yebesi, 24, already made waves in the tech world by selling his crypto invoicing company, Utopia Labs, to Coinbase. The idea for Open Ledger came to him while he was still working on Utopia Labs. He realized that the businesses he worked with were using outdated accounting softwares. Related Post: How
Atlanta Tech Village, the fourth-largest tech hub in the U.S., has opened its second location in Atlanta’s South Downtown. Spearheaded by David Cummings, Jon Birdsong, and other prominent innovators, ATV Sylvan is a uniquely distinctive space for up-and-coming builders and innovators. This week’s ribbon-cutting ceremony attracted founders, investors, city council members, and startup ecosystem builders. Named after the historic Sylvan Hotel, the revamped building offers flexible office options for entrepreneurs, from solopreneurs to fast-growing businesses. “The next generation of Atlanta success stories will be written here in these historic downtown buildings,” Mayor Dickens added during the opening ceremony. “A new generation of builders and dreamers [will find] the infrastructure, the resources, and the community they need to scale even faster.” The Making of ATV Sylvan: A Historic Edifice The project
Former NFL player Mark Clayton has secured $1 million for his LIVV Audio headphones. The $1 million funding from a $1.5 million seed round investment saw participation from an elite group of investors, including tennis legend Mark Knowles. The fresh funding will fuel LIVV Audio’s marketing, production, and innovation growth. Generating The Idea For LIVV Audio Clayton founded LIVV Audio, which offers high-performing headphones for athletes and fitness enthusiasts. The product was inspired by his experiences as an athlete. Drafted to the NFL in 2005 by the Baltimore Ravens, he penned a five-year deal valued at $8.2 million, according to Spotrac. Around 2008, he was among the many athletes sporting Beats headphones. Over the years, the former NFL player recalled breaking two pairs. Related Post: Aesthetic: Harvard Grad Spearheads AI
As 2025 kicks off, UrbanGeekz has rounded up a list of stellar startups that have the potential to accelerate to new heights this year. These businesses are simplifying cross-border logistics, reimagining shopping, and using AI to create industry-disrupting models. Led by dynamic founders and backed by investors, these ventures are poised (if all goes to plan) for continued success. They’re not just changing industries—they’re revolutionizing them by launching products that transform lives and empower communities worldwide to reach their full potential. Check out our list of eight ventures pushing the frontiers in the ever-evolving landscape of technology and innovation. Zimi: Audrey Djiya Founded by Audrey Djiya (CEO) and Peter Nsaka (CTO) in 2023, Zimi is a cross-border commerce partner dedicated to simplifying global expansion for international brands. The Y Combinator
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