Novastar Ventures Leads US$1 Million Series A Round for Perennial Foods Group (Sub-Saharan Africa)
Source(s): Novastar Ventures
East Africa-focused venture capital fund manager Novastar Ventures has led a US$1 million Series A investment in Ethiopia-based specialty food supplier Perennial Foods Group. The Enterprise Development Programme, the impact investing arm of Oxfam Great Britain, also participated in the funding round. Perennial Foods sources organic foods from smallholder farmers and markets and distributes them in Europe and the Middle East under the GreenPath Food brand. The company plans to use the funds to expand its sourcing operations within and outside of Ethiopia.