This Serial Entrepreneur Just Raised $1 Million to Launch a Consumer Electronics Startup
After launching NSPRE™, her consumer electronics brand, founder Chaymeriyia Moncrief raised $1.05 million from private and angel investors. Some of the same investors also supported her first startup, Tesix Wireless. The first and only African American and woman-led telecommunication wireless carrier is now valued at $10 million, BlackBusiness.com reports.
Moncrief developed a love for tech and gadgets as a young child growing up in Montgomery, Alabama. “I use to take things apart at home—everything from remote controls, the radio, and even the home computer,” she said. “When I successfully put them back together, and it actually worked again, I fell in love with the simple and complex process every time.”
She credits her entrepreneurial drive to experiencing childhood adversity and having the desire to provide a better future for her mother, according to AP News. Moncrief hopes to one day build a brand as successful as another Alabama-based brand, delivery service Shipt which was acquired by Target and eventually expanded globally.
NSPRE™ Electronics was launched during the global pandemic which has been a challenging time for many industries. TechCrunch called its 2020 year-end roundup of failed startups the “most diverse” list it has ever published. But despite a downturn in the national economy, researchers found most venture capital-backed startups did not suffer.
Even while the threat of COVID-19 loomed, the U.S. Census Bureau reported a surge in business applications in the third quarter of 2020.
“My advice to young women [entrepreneurs] is to trust and love the process,” Moncrief told Marie Claire in an interview. “The entrepreneur’s journey is not an easy one, so loving the process and being ready for the obstacles that come along with building a company and maintaining a brand to its fullest potential is crucial.”
NSPRE™ Electronics currently offers five products, with future plans to expand into Security, Home Electronics and IoT. Learn more about the brand at NSPREelectronics.com