OAKLAND, Calif., March 1, 2019 /PRNewswire/ -- Kuli Kuli, a mission-driven company pioneering the superfood moringa, announced
today that it closed its $5M Series B financing. Griffith Foods, the global product development
company, led the round with eighteen94 capital, the Kellogg Company's venture capital fund. Other institutional investors
included InvestEco, S2G Ventures, Authentic Ventures, VilCap Investments and Rocana Venture Partners. Kuli Kuli is also proud to receive investment from women-focused groups including Portfolia, Astia Angels,
Next Wave Impact and individuals from Golden Seeds.
The investment will help Kuli Kuli launch their new moringa ingredient business while
continuing to scale their moringa powder, bars, and shots business. Similar in taste to matcha, moringa is a versatile ingredient
that adds a complete protein, an array of vitamins and health benefits in commercial applications from savory to sweet, producing
delicious, nutritious and highly functional foods. Griffith Foods plans to include moringa in its range of ingredient offerings
for the company's foodservice customers, processors, retailers and distributors across 30 countries. Similar to the rise of
matcha and turmeric, Kuli Kuli believes that moringa will soon be found in many products from
beverages to desserts.
Over the past five years, Kuli Kuli has pioneered moringa in the US, building a sustainable
supply chain of small moringa farmers while selling tasty moringa products in 7,000 stores. Now the company is excited to begin
selling moringa as an ingredient to other food companies. Kuli Kuli and Griffith Foods will be
showcasing moringa food and beverage products at Kuli Kuli's Natural Products Expo West Booth located at 5173, Hall E (the
basement) March 7-9th in Anaheim, CA.
"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," said Lisa Curtis, Kuli Kuli's Founder & CEO.
"Griffith Foods' purpose, that 'we blend care and creativity to nourish the world,' calls us to find innovative solutions to
changing needs. We also know that Griffith Foods cannot do this alone," said Brian Griffith,
executive chairman of Griffith Foods. "Our strategic partnership with Kuli Kuli will help both
companies elevate moringa as an exciting new ingredient, and we look forward to bringing this sustainable and healthy offering to
the food sector."
"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," said Simon Burton, Managing Director of eighteen94
Capital.
Moringa is now the fastest growing green supplement in the category, outselling matcha and catching up to spirulina and
wheatgrass. Nielsen data shows that moringa has achieved a 3% penetration in US households with Kuli
Kuli dominating more than half of the US retail moringa market. Kuli Kuli expects moringa
to soon catch up to the popularity of turmeric, which is now an $11 billion dollar market in the
US. According to the NEXT Trend database moringa grew at 460% between 2014-2017, giving credence to Kuli
Kuli's claim.
Like turmeric, 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. A Rutgers University study has found that moringa may contain more potent
anti-inflammatory properties than turmeric.
About Kuli Kuli
Kuli Kuli is the leading moringa superfood brand in America. We provide high quality and
nutritious moringa, which provides a good source of plant protein, iron, vitamins, and antioxidants. Kuli
Kuli's delicious Moringa Energy Bars, Pure Organic Moringa Powder, Organic Moringa Green Smoothie Mixes, and Moringa Green
Energy shots make it easy for Americans to get their greens on the go while helping to plant moringa trees and support women and
family farmers around the world. To learn more, visit www.kulikulifoods.com or follow us on social media @KuliKuliFoods.
About Kellogg Company
At Kellogg Company (NYSE: K), we strive to make foods people love. This includes our beloved brands – Kellogg's®,
Keebler®, Special K®, Pringles®, Kellogg's Frosted Flakes®, Pop-Tarts®, Kellogg's Corn Flakes®, Rice Krispies®,
Cheez-It®, Eggo®, Mini-Wheats® and more – that nourish families so they can flourish and thrive. With 2017 sales of $12.9
billion and more than 1,600 foods, Kellogg is the world's leading cereal company; second largest producer of
cookies, crackers and savory snacks; and a leading North American frozen foods company. Through our Breakfasts for Better Days™
global hunger initiative, we've provided more than 1.7 billion servings of cereal and snacks to children and families in need
around the world. To learn more, visit www.kelloggcompany.com or follow us on Twitter @KelloggCompany, YouTube and on Social K.
About Griffith Foods
Griffith Foods is a family-owned global developer and manufacturer of customized food ingredients whose Purpose is "We
Blend Care and Creativity to Nourish the World." The company's capabilities range from seasonings and breadings, to marinades and
sauces blended to exacting specification that are culturally authentic, taste great and improve food safety. Founded in
Chicago in 1919 and currently headquartered in Alsip, Illinois,
Griffith Foods has grown and expanded globally to include a presence in over 30 countries and six continents. To learn more,
visit http://griffithfoods.com.
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SOURCE Kellogg Company; Kuli Kuli