A $4 million fund for Europe’s Black founders

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That is why in the present day, we’re launching a second spherical of investments within the Google for Startups Black Founders Fund in Europe, a $4 million fund for Black-led tech startups within the area. With double the funding from our inaugural fund, we hope to assist much more startups succeed this 12 months.

Established in 2020, the Google for Startups Black Founders Fund supplies money awards — with out giving up fairness in return — and hands-on assist to assist Black entrepreneurs construct and develop their companies. The Black Founders Fund has awarded greater than $16 million in Europe, Brazil, Africa and the U.S. towards making a powerful impression to assist Black-led startups safe funding, strengthen communities and create generational change.

Along with as much as $100,000 (roughly 89,000 Euros) in non-dilutive money awards, Black Founders Fund recipients obtain ongoing Google mentorship and product assist to assist them navigate each stage of their startup course of—together with as much as $200,000 (roughly 179,000 Euros) in Google Cloud credit.

Founders may also be launched to one another and the worldwide Google for Startups group of specialists for management, development and technical assist. This consists of partnerships with main companies to supply specialist assist starting from marketing assist from WPP; recommendation on elevating capital from Tier 1 enterprise capitalists; to donated media campaigns and inventive assist from nationwide broadcasters like ITV.

Final 12 months’s Black Founders Fund recipients have seen tangible development and success within the 9 months since first receiving the awards. That features AudioMob, a UK-based startup reworking how recreation builders are monetizing their video games, who just lately raised one other $14 million; Berlin-based Kwara, which digitizes monetary cooperatives to offer their members a better method to handle cash and construct a credit score historical past, which raised $4 million in follow-on funding; and Playbrush, a startup primarily based in Vienna, Austria, making oral well being care enjoyable by connecting toothbrushes to telephones and tablets, which was acquired by Sunstar in September. We are able to’t wait to see what this 12 months’s cohort will obtain.

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