Internet technology provider Google’s entrepreneur community, Google for Startups, has announced eight new participants for the Brazilian contingent of its Black Founders Fund, Globo has reported.
The initiative launched in September 2020 with the aim of supplying seed capital to about 30 Brazil-based companies led by black entrepreneurs. Google will not take an equity stake in the companies it capitalises through the programme, which will continue to accept applications until March 2022.
The R$5m ($945,000) fund is focused on technology-oriented companies with the ‘potential and the promise of impacting Brazilian lives.’
The new group of startups included AfroSaúde, a healthcare technology platform focusing on the black community, as well as credit contracting services provider Certdox and online art editing tool developer Trakto.
Diaspora.Black, a short-term accommodation provider specialising in Afro-Brazilian experiences, also featured in the list, as did Gestar, an online platform that connects families to mother and child healthcare professionals, and UnicaInstancia, an online legal mediation platform.
Prol Educa, an organisation that secures places at private schools for students who are unable to pay full tuition, also received funding from the scheme, as did Inventives, a community education and networking platform developer.
The fund had previously accepted nine companies into the Brazilian branch of Black Founders Fund, including e-commerce platform Afropolitan and creative freelance recruitment platform Creators.
Last month, Google for Startups unveiled a $2m investment fund under the Black Founders Fund programme dedicated to black-led startups located in Europe.