After touchdown an enormous funding from mogul Jay-Z, a Black-owned enterprise has garnered extra help from different stars. In response to Forbes, Rihanna and H.E.R. have invested in Denise Woodard’s health-conscious model Partake Meals.
The Collection A financing spherical builds upon an distinctive 12 months for Partake, whose merchandise can now be present in over 2,700 retail shops 🙌🏾 https://t.co/WDL2wtybJP
— AfroTech (@AfroTech) January 10, 2021
The idea for the corporate was developed after Woodard struggled to search out meals choices for her daughter who had a number of meals allergic reactions. Devoted to making sure that wholesome choices have been reasonably priced and accessible and decided to interrupt obstacles as a Black lady entrepreneur, Woodard left her company job at Coca-Cola and targeted on constructing Partake Meals full-time. She launched a Kickstarter marketing campaign to get her enterprise off the bottom and offered cookies from her automobile. She later obtained investments from an array of VC companies and angel traders that included Arlan Hamilton’s Backstage Capital, The Manufacturing unit, SoFi Enterprise, Chuck Muth and Jay-Z. The corporate introduced it closed its Collection A spherical with $4.8 million with new traders that embody mogul Rihanna, songstress H.E.R., skilled soccer participant Bobby Wagner, the Black Star Fund, the enterprise capital agency Black Capital and different VC companies.
“With this group of strategic companions and added financing, Partake continues our mission of creating tremendous scrumptious and protected meals that these with and with out dietary restrictions can take pleasure in,” Woodard stated in a press release, in keeping with the information outlet. “The demand for thoughtfully-made cookies, snacks and treats is obvious, and we’re excited to proceed to offer plant-based, protected, and crave worthy meals to customers.” Partake Meals has been added to the cabinets of nationwide retailers together with Entire Meals Market and Goal.
A number of celebrities are stepping as much as spend money on Black-owned companies. Comic Kevin Hart invested within the firm Ellis Island Tea. The corporate—which is owned and operated by Nailah Ellis—produces an array of flavorful, all-natural handcrafted teas made with herbs. Ellis’ enterprise was impressed by her Jamaican heritage and her great-grandfather Cyril Byron’s recipes. Byron was the pinnacle chef of Marcus Garvey’s Black Star Line fleet.
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