Dallas Startups Deposits.com and DUKE.AI Land Google as New Backer » Dallas Innovates

Two North Texas startups can now count on one of the nation’s largest tech companies, Google, as their new backer.

Alphabet-Owned Company Awarded Dallas Companies Deposits.com and DUKE.AI $100,000 each in new funding through its Google for Startups Black Founders Fund. The fund was created with the aim of bridging the racial disparity in venture capital funding that goes to various founders.

“Across the United States, there are amazing black startup founders who are building great companies but who don’t have access to the funding critical to their success,” Google wrote in a blog post.

Meet Deposits.com and DUKE.AI

Along with funding, the 50 startups selected by the fund will receive Google Cloud credits and hands-on assistance from Google.

Deposits.com was co-founded in 2019 by CEO Joseph Akintolayo and COO Daniel Paramo with the goal of helping financial organizations provide more digital tools to their community. Fresh from $5 million in seed funding raised last month and led by ATX Venture Partners, the startup offers plug-and-play banking functionality for community banks, credit unions and other financial brands . It does this by using what it calls “kits” – themed financial experiences built around common financial services that customers seek, such as money management, mobile payments, business banking and banking. pay.

Also created in 2019, DUKE.AI is an automated bookkeeping and accounting software platform designed for the trucking industry. Its technology facilitates document processing workflows for things like office payment processing and accounting. Led by founder Marcus Cooksey, the company secured early stage funding through Dallas Cowboys linebacker Jaylon Smith’s Minority Entrepreneurship Institute Capital Fund.

In a LinkedIn post, Cooksey said the company has already “seen huge benefits from Google’s support team.”

Google for Startups Black Founders Fund supported other North Texans

The Google for Startups Black Founders Fund is part of a $175 million investment commitment from Google to support the black business community following protests sparked by the police killings of George Floyd and Breonna Taylor. This year, just 1.2% of venture capital dollars went to startups with at least one black founder, according to Crunchbase.

Deposits.com and DUKE.AI join a number of other North Texas startups that have secured funding from the Google for Startups Black Founders Fund. In the first batch of startups he funded were DEI platform Kanarys, fintech Zirtue, concierge healthcare company CourMed and hair salon space rental platform ShearShare, which has since moved to Buffalo. , NY These companies were joined last September by Fêtefully, Safer Management, XR Sports Group and CustomerX.i.

“We know that hands-on support and connections are necessary building blocks for any founder to succeed,” Google wrote when it announced venture funding in 2021. “With these funds, we are also committed to building a relationship that brings these founders the best of Google.”

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  • Jorge Varela has spent decades building startups in Silicon Valley, San Antonio, and even Central America, his hometown. Going forward, his efforts will focus on the North Texas innovation economy. “The shift from Silicon Valley and the East Coast to Texas and DFW is real,” Varela says.

  • Celebratingly, Safer Management, Inc. and XR Sports Group received a total of $300,000 in funding, three of 50 founders chosen for the program aimed at nurturing black entrepreneurs to lead high-potential startups.

  • Five local winners received up to $200,000 in funding to activate their solutions throughout North Texas.

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