BK-XL, Brooklyn Social Justice Fund’s Tech Accelerator, Announces Second Cohort

Brooklyn, NY – July 9, 2024 – Today, BK-XL, the Brooklyn-based early-stage startup accelerator for underserved founders, announced its second cohort of founders, each of whom will participate in a ten-week immersion program and receive a $125,000 investment with the opportunity to earn follow-on investments, office space at Camp David in Industry City, and ongoing mentorship and support from investors and operators. BK-XL was created in 2022 by Clara Wu Tsai, founder of the Social Justice Fund, Vice Chair of BSE Global and owner of the Brooklyn Nets and New York Liberty.

"We are proud to announce the second cohort of our BK-XL Accelerator," said Clara Wu Tsai. "We launched BK-XL in 2022 with a commitment to support entrepreneurs who have typically been underfunded by venture firms, including those founded and led by women and people of color. By providing the requisite capital, network support, and access to resources we can help them to build enduring companies."

The six startups who make up BK-XL’s 2024 cohort include six BIPOC-founded, three Brooklyn-based, and two female-founded companies.

• Afar Foods – savory protein bars inspired by global flavors
• Maraboo – fintech platform that enables families and businesses to send money to and from Francophone West African countries faster and more affordably
• NatML – a Python compiler that converts Python into a multitude of executable languages to help developers build on-device AI models
• Peepalytics AI – helps monitor employee metrics to predict turnover and identify interventions for improving retention rate
• Ambessa Play – creates DIY electronics for children to build and learn from
• Tailored Industry – knitwear manufacturing-as-a-service subscription platform for fashion brands

More information on the selected founders and their companies can be found at www.bk-xl.com.

Each company will receive a $125,000 investment in exchange for 7% equity on a SAFE note, with the opportunity to earn follow-on investments within 12 months of program completion. The Social Justice Fund and the BK-XL team are partnering with leading investing firms -- including Benchstrength, Visible Hands, Udy Road, Harlem Capital, Infinity Ventures, and WndrCo -- to serve on a program advisory council, helping to select founders and serve as guides throughout the program curriculum.

In addition to receiving funding from BK-XL, selected founders will participate in a ten-week immersion program in Brooklyn during which they’ll receive office space at Camp David in Industry City along with ongoing mentorship and support from investors and operators at Blue Pool Capital, Udy Road, BSE Global, the Brooklyn Nets, Barclays Center, and other partnering organizations. BK-XL and its network of partners will continue to support the selected companies after the completion of the accelerator program.