Latest Coverage

Black Business News

Funding announcements, policy changes, market trends, and stories shaping the future of Black-owned businesses in California — August 2026.

National Black Business Month — August 2026

All NewsFundingTechnologyBusinessCommunityTrends

Top Story

Black Founders Raise Record $643M in Q1 2026 — Highest Since 2022
Funding & VCVenture CapitalStartupsFunding Record

Black Founders Raise Record $643M in Q1 2026 — Highest Since 2022

Black-founded startups raised $643 million in Q1 2026, the highest quarterly total since Q2 2022, according to TechCrunch analysis of Crunchbase data. The gains were led by a $350M Series E from Palo Alto-based SambaNova, an AI chip startup co-founded by Kunle Olukotun. Despite the record quarter, analysts note Black founders still receive less than 1% of all venture capital, and the surge masks persistent structural barriers to access.

By BlackBiz Editorial · August 1, 2026 · 5 min read

Read Source →
SambaNova's $350M Series E Puts Palo Alto AI Startup in the Spotlight
Technology
Aug02
AIPalo AltoSeries E

SambaNova's $350M Series E Puts Palo Alto AI Startup in the Spotlight

SambaNova — a Palo Alto, California-based AI chip startup co-founded by Chief Technologist Kunle Olukotun in 2017 — closed a $350 million Series E round co-led by Cambium Capital Partners and Vista Equity Partners. The raise is the largest single funding round by a Black-co-founded startup in California's tech history, and signals growing investor confidence in Black-led deep tech companies.

Tech Desk · 6 min read

Read →
Red Bay Coffee Is Opening in Southern California — Here's What It Means
Business News
Aug02
Food & BeverageOaklandLA Expansion

Red Bay Coffee Is Opening in Southern California — Here's What It Means

Red Bay Coffee, the Black-owned specialty coffee company founded in Oakland by Keba Konte in 2014, is expanding to Southern California with a new café at Hollywood Park in Inglewood. The expansion brings one of America's most respected Black-owned coffee brands to a market historically underserved by specialty roasters. Red Bay has five Bay Area locations and recently earned three medals at Golden Bean North America.

Business Desk · 4 min read

Read →
Black Women Tech Founders in California Raised 340% More Capital in 2025
Research & Data
Aug03
Women FoundersTechnologyFunding

Black Women Tech Founders in California Raised 340% More Capital in 2025

A report from BLCK VC shows that Black women-led tech startups in California raised 340% more venture capital in 2025 than in 2020. The momentum continues into 2026, with the first quarter showing record activity in seed-stage investments for Black women-led companies in AI, health tech, and fintech. Organizations like Luminary are playing a direct role in creating the infrastructure and networks that support this growth.

Tech Desk · 6 min read

Read →
LA's Black-Owned Culinary Districts Are Leading a National Renaissance
Community
Aug03
FoodLos AngelesCulinary

LA's Black-Owned Culinary Districts Are Leading a National Renaissance

From Leimert Park to Inglewood, Los Angeles has quietly become one of the most vibrant hubs for Black-owned dining in America. Trap Kitchen's expansion to TrapKitchen Tacos on W Manchester, Red Bay Coffee's arrival at Hollywood Park, and the density of James Beard-recognized Black chefs in South LA signal a structural shift — not a trend. Neighborhood economic data shows Black-owned food businesses in these corridors have added 2,000+ jobs since 2022.

Culinary Guide · 7 min read

Read →
Black-Owned Beauty Brands Capture 15% of California Salon Revenue in 2025
Industry Trends
Aug04
BeautyMarket DataCalifornia

Black-Owned Beauty Brands Capture 15% of California Salon Revenue in 2025

Black-owned cosmetic and salon brands earned 15% market share of California salon revenue in 2025 — a number that would have seemed impossible a decade ago. Brands like The Lip Bar, sold in Target stores statewide, are driving mainstream adoption, while a new wave of California-based independent Black beauty founders are building e-commerce businesses with national reach. Industry analysts expect the share to grow to 20% by 2027.

Beauty & Wellness · 5 min read

Read →
How BlackBiz Is Using AI to Close the Visibility Gap for Black-Owned Businesses
Technology
Aug04
AIPlatformDirectory

How BlackBiz Is Using AI to Close the Visibility Gap for Black-Owned Businesses

FindBlackBiz.com — a free directory of verified Black-owned businesses in California — is using AI-powered search, automated outreach, and community discovery tools to help small businesses compete on a level playing field. The platform has added dozens of verified Black-owned businesses across Los Angeles, Oakland, Sacramento, San Diego, and the Bay Area since launching, with thousands of community members using it to find and support local businesses.

Platform News · 8 min read

Read →

Frequently Asked Questions

How much venture capital did Black founders raise in Q1 2026?

Black-founded startups raised $643 million in Q1 2026, the highest quarterly total since Q2 2022, according to TechCrunch analysis of Crunchbase data. The largest single deal was a $350 million Series E by Palo Alto-based SambaNova, an AI chip startup co-founded by Kunle Olukotun.

What is SambaNova and who co-founded it?

SambaNova is a Palo Alto, California-based AI chip startup founded in 2017. Chief Technologist Kunle Olukotun co-founded the company. In early 2026, SambaNova raised a $350 million Series E round co-led by Cambium Capital Partners and Vista Equity Partners, making it one of the largest rounds by a Black-co-founded tech company in California history.

Where is Red Bay Coffee expanding in Southern California?

Red Bay Coffee, the Black-owned specialty coffee company founded in Oakland by Keba Konte, is opening its first Southern California café at Hollywood Park in Inglewood, California. Red Bay already operates five Bay Area locations in Oakland, Berkeley, and San Francisco.

Covering the Black Business Community in California

BlackBiz News is California's dedicated source for news and stories about Black-owned businesses. August 2026 marks National Black Business Month — a time when the entire country turns its attention to Black entrepreneurship, and when the biggest funding announcements, policy moves, and community milestones of the year tend to break.

This month's top stories include Black founders posting their strongest VC quarter since 2022 ($643M raised in Q1), Red Bay Coffee's landmark expansion to Southern California, and the continued rise of Black women tech founders securing capital at rates that would have been unimaginable five years ago.

Have a news tip or want your business to be featured? List your business for free to get on our radar for future coverage.

Stay Informed

Get the latest Black business news and stories delivered to your inbox weekly.

Talk to our AI Assistant