Moringa-based products maker Kuli Kuli has secured a $4.25m investment from Kellogg Company's venture capital fund eighteen94 capital in a Series A funding round.
InvestEco and S2G Ventures were the other institutional investors featuring in the round.
Headquartered in Oakland, California, Kuli Kuli sells its moringa-based products in the US. Its product portfolio includes Moringa Superfood Bars, Moringa Green Energy Shots and Pure Moringa Powder.
Kuli Kuli Founder and CEO Lisa Curtis said: "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."
According to Curtis, Kuli Kuli sources moringa from cooperatives run by women across the Caribbean, South America and West Africa.
eighteen94 capital managing director Simon Burton said: "By investing in Kuli Kuli and helping them grow, we're backing a new superfood category, one in which we see the potential for ongoing high-growth.
"We love the company's strong management team, great products, and the authenticity of their social mission."
Through the investment, Simon Burton has now a member of the Kuli Kuli board of directors.
Launched in June last year, eighteen94 capital is a fund that has been formed to invest mainly in firms working on next-generation innovation, which in turn help in Kellogg's gaining access to cutting-edge ideas and trends.
Kuli Kuli in this regard happens to be eighteen94 capital’s maiden investment. The fund is expected to play a key role in helping Kellogg in meeting its 2020 strategic growth objectives.
