August 3, 2022

No lazy days of summer for Ulupreneurs, who raised more than $37M in July and continue to make headlines! Ulu made five new investments. 

We made five new investments, three remain in stealth.

FairStreet is a digital platform that helps independent Medicare agents advise older Americans to make better-informed health and financial choices.

Welcome is a Webby Award-winning video platform that enables firms to produce high-quality internal and external events that resemble an interactive TV show. Other investors include Kleiner-Perkins, Kapor Capital and Y Combinator.

Major news outlets continue to highlight Ulu portfolio companies for major accomplishments. Here are a few headliners.

TomoCredit headlined a recent TechCrunch article highlighting the firm’s recent $22M Series B raise and $222M valuation. CEO Kristy Kim discussed how Tomo’s mission has changed from targeting international students, who have difficulty getting credit, to making credit scores obsolete for everyone.

TechCrunch featured an in-depth profile of Parfait, an AI platform that helps women of color build wigs.The piece explored the obstacles the four Black women founders faced when fundraising and their plans to up end the $13B wig industry. They raised $5M from investors including UpFront Ventures, Serena Ventures, Ulu and other venture firms.

Two Uu portfolio companies, Snowball Wealth and Answerbite were named as $100K recipients for the Google for Startups Latino Founders Fund.The firms will also receive hands-on support from Googlers nationwide as well as access to therapy sessions to use as needed for any support they may need emotionally and professionally.

Aromyx was featured in an article in the Wall Street Journal about how scientists are using high tech sensors to detect disease, explosives and even moods. The article looked at efforts to recreate the sense of smell in compact devices that can “analyze odors in the same way cameras recognize faces.” Aromyx was cited for helping brands understand molecules that drive consumer preferences and the use of bioengineered odor-detecting cells that react to certain odor molecules to come up with preference profiles.

Nancy Torres spoke on a panel alongside leaders from Goldman Sachs and Chase at the Latino Business Action Network (LBAN) and the Stanford Latino Entrepreneurship Initiative Scaling Program Capital Matchmaking event. Nancy discussed the importance of diversity in Ulu’s investment thesis and shared insights and best practices for Latinx founders raising capital in the current market landscape.

Miriam Rivera was part of a panel of diverse standout VCs at First Close Partners’ Q2 meeting. The panel was focused on offering insights into how investors are thinking about the recent macroeconomic environment. Miriam underscored that it’s crucial for VCs to remain disciplined in their investment approach and stick to the principles that have made them successful in the past. She also offered some cautionary words about the threat of stagflation and the real impact it can have, particularly on communities of color.

 

 

We continue to explore the passions of Ulupreneurs in our continuing series of founder stories. You can read here about one firm helping to bridge the financial gap for entrepreneurs, a founder dedicated to helping the grocery industry bring refrigeration into the 21st century, saving money and the environment, and one Ulupreneur who says that online dating can not only be fun but that humor might even be the path to true love. Enjoy!

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About the Author: Rusty Dornin

Rusty Dornin is the director of marketing and communications for Ulu Ventures. An award-winning radio and television journalist, she was a CNN correspondent for nearly 18 years covering domestic and world news ranging from war to natural disasters and tales of crime and politics