NC firm investing into Charlotte-based companies focused on social change
Summary
Two local startups received a big investment from on Monday from a venture capital firm focused on minority- and women-owned businesses with a social mission not just a financial one.North Carolina-based Equilibrium Impact Ventures is investing $75,000 in two Charlotte companies: Just Her and BatteryXchange.Just Her is a rideshare company serving women passengers using mostly women drivers. Kimberly Evans founded the company in 2020 when she realized there must be more women like her who were afraid to use Lyft and Uber.I had never really taken a rideshare without my husband only once because of being uncomfortable and my fear factor. [A female passenger] has the option to opt out without penalty, because while we cannot discriminate, it is her civil right to hop into a vehicle that she feels safe in, said Evans.Just Her operates like a typical rideshare in Charlotte, but right now its focusing on prescheduled rides until it gets more drivers. Evans says the company is also building a community around women with a hub and social initiatives that partner with non-profit organizations that support womens social issues, like domestic violence, sexual assault, sex trafficking and displaced families.Battery Xchange was founded by Desmond Wiggan, who got the idea in 2019 while studying in China when he was stressed about his phone dying after a long day of travel.I couldnt call an Uber, I couldnt tell my wife I need to get home, and so in that moment I thought, why isnt there a more convenient way for us to charge our cell phones while were on the go and that was the lightbulb moment...85% of individual cell phone users dont carry a spare charger outside of their homes.Users download the app, find a kiosk on the map, scan a QR code on it, then take one of the portable batteries for free. Now were looking at what growth looks like.And thats where Equilibrium Impact Ventures comes in.I really see both of them as proven business leaders theyre the driving force behind these businesses, said Dr. Shante Williams, one of the three partners at Equilibrium.ALSO READ: Charlotte sees big drop in houses being bought by investorsEquilibrium says its mission is to support North Carolina-based startups led by women and people of color who support sustainable social impact.