Venture capital firm Equilibrium Impact Ventures (EQIV) will award its first investments as part of efforts to support social impact businesses led by women and business owners of color. The firm will present Charlotte startups BatteryXchange and Just Her Rideshare each with $75,000 during a check presentation on Aug. 14 at 6:30 p.m. at The Coterie Concept. Founding EQIV partners Adrian Smith, Dr. Shante Williams and Kasem Rodriguez Mohsen are leading the fund that is deploying checks ranging from $50,000 to $75,000 to North Carolina-based, mission-driven startups to support sustainable social impact.
BatteryXchange partners with businesses to install portable battery kiosks in popular locations – such as hospitals, convention centers, stadiums and college campuses – for users to keep their mobile devices charged while on-the-go. Founder Desmond Wiggan says the EQIV funding will help the company expand outside of North Carolina, introduce new healthcare-focused products and hire new team members. Just Her Rideshare provides a safe alternative rideshare marketed primarily toward women riders and drivers. Founder Kimberly Evans plans to use the $75,000 investment to focus on growth, retention and repeatability.
Two additional startups will be announced by the end of the year.
