Kellogg’s Venture Capital Fund Just Invested In Kuli Kuli, A Super Food Start Up
Multinational food company Kellogg has just announced it is investing in Kuli Kuli a super food start up. This is the first investment Kellogg’s Venture Capital Fund has made since it was launched in mid-2016.
In June 2016, Kellogg debuted its VC Fund, which it has called the eighteen94 capital. It announced that it would be investing $100 million in food start-ups in America which were using unique ingredients, making novel foods and innovative packaging. Through this, Kellogg hoped to help support the growth of newer firms and bring in their packaging, marketing and distribution expertise.
“As consumer preferences move toward more diverse tastes and trends, the pace of innovation in the packaged food industry continues to intensify,” said Gary Pilnick, vice chairman of Kellogg had said at the time. “”By investing directly in the most promising entrepreneurs and ventures, we can increase greatly our access to game-changing ideas and trends that could become significant sources of growth for us.”
Investing In Kuli Kuli Foods
Now, over six months after launching the Fund, Kellogg’s has announced its first investment; it led a $4.25 million Series A funding round for Kuli Kuli.
Kuli Kuli is a California based company which sells Moringa vegetable powder, Moringa bars, Moringa energy drinks and Moringa bars. Kuli Kuli’s founder, Lisa Curtis discovered the power of Moringa in Niger and went on to bring its benefits to the US, along with helping women in West Africa earn a sustainable living with Moringa.
We are excited to partner with eighteen94 capital and Kellogg, and we’re thrilled that they see the potential in our company and in moringa as a next-generation super food,” said Curtis. “We want to create a world where everyone has access to nutritious sources of food. Through this relationship, Kuli Kuli will benefit from Kellogg’s resources and global presence, both of which will help us achieve our goals.”
Simon Burton, the managing director of eighteen94 capital also commented on the investment saying “By investing in Kuli Kuli and helping them grow, we’re backing a new super food category, one in which we see the potential for ongoing high-growth.”