Kuli Kuli, a mission-driven company trading and selling the superfood moringa, announced on March 1 that it has closed its $5M Series B round of obtaining financing to help launch a new moringa ‘super-food’ ingredient business.
Moringa is now the fastest growing green supplement superfood, outselling matcha and catching up to spirulina and wheatgrass. Kuli Kuli already produces organic moringa powder, energy bars and shots.
Griffith Foods, the global product development company from Chicago, USA, led the round with eighteen94 capital, the Kellogg Company’s venture capital fund. Lisa Curtis, Kuli Kuli’s Founder & CEO stated: ‘After eighteen94 capital led Kuli Kuli’s Series A financing in 2017, Kuli Kuli’s retail business tripled. We’re thrilled to continue to partner with Kellogg to grow our retail business while partnering with Griffith Foods to expand into the foodservice and ingredient space’.
Over the past five years, Kuli Kuli has pioneered moringa in the US, building a sustainable supply chain of moringa women and family farmers while selling moringa products in 7,000 stores.
Moringa is a staple of Ayurvedic medicine, an ancient holistic healing system. Consumer awareness of moringa’s anti-inflammatory and antioxidant properties has grown exponentially since Kuli Kuli launched onto the market five years ago. According to the NEXT Trend database, moringa grew at 460% between 2014-2017. A Rutgers University study has found that moringa may contain more potent anti-inflammatory properties than turmeric.
Simon Burton, Managing Director of eighteen94 Capital said: ‘Kuli Kuli was eighteen94’s first investment and has served as a model for how large food companies can partner with startups to the benefit of both. We’re thrilled to grow and strengthen our partnership with Kuli Kuli’.
