Black Founders Raised 0.12 Percent of All Venture Funding in the Third Quarter of 2022.
These Entrepreneurs Want to Change That
Check out the 12 startups planning to vie for $1 million in funding at the inaugural Black Founders Demo Day in December.
Update 10/27: This story was updated to reflect new information about the companies presenting at Black Founders Demo Day.
The inaugural Black Founders Demo Day on December 1 is just around the corner, and a selection committee has chosen
the 12 companies that will get their shot to pitch their business on stage.
Hosted by the Detroit-based networking platform Plain Sight, it will be a featured event at this year's Art Base
l fair in Miami on December 1. During the showcase, selected companies will set up demo booths and live pitch their business to a panel of five venture capitalists -- with over $1 million in potential investment opportunities on the table -- and an audience of 2,000 attendees.
The selected companies fall across four categories: SaaS, entertainment, fintech, and transportation. They are:
Laundr, a Gainesville, Florida-based on-demand laundry service
Seren, an Oakland, California-based networking tool for workplaces
Athlytic, a Detroit-based endorsement management platform for student athletes
Wisdom App, a Miami-based social audio app
Opnr, a Grand Rapids, Michigan-based marketplace platform that connects musicians with venues and opener opportunities
REC, a Philadelphia-based creative agency and incubator
Allison, a Tampa-based digital toolkit for credit unions and community banks
Duke.AI, a Dallas-based processing solution for truck owner-operators
Freeman Capital, a Charlotte-based financial planning platform
PlugZen, a Detroit-based EV charging company
Airyvl, a Tampa-based aviation technology company
Just Her Rideshare, a Charlotte, North Carolina-based ride share app for female drivers and riders
A committee of entrepreneurs, investors, and community builders selected these 12 companies from a pool of more than 300 applicants. James Chapman, CEO of Plain Sight, hopes that the event will prove valuable to the chosen businesses. "Black startup founders raised just $187 million in the third quarter of 2022 -- only 0.12 percent of the $150.9 billion that was deployed," he says. "We need to do everything we possibly can to help some of the best and brightest early-stage founders get the capital they need to grow and scale their enterprises."
Attendees of Black Founder Demo Day will have the opportunity to invest in these 12 companies through Wefunder's equity crowdfunding platform, in addition to attending activations from brands, including Inc. magazine. Tickets are available through Plain Sight.