Moringa products maker Kuli Kuli Inc. said March 1 that it closed its $5 million series B funding round, which was co-led by Kellogg's venture capital fund Eighteen94 Capital LLC and Griffith Foods Inc.
California-based Kuli Kuli makes energy bars, powders, smoothie mixes and energy shots from the moringa plant.
Other investors of the funding round include Investeco Capital Corp., S2G Ventures, Authentic Ventures, Village Capital and Rocana Venture Partners. Women-focused groups, including Portfolia Inc., Astia Angels, Next Wave Impact and individuals from Golden Seeds LLC also participated in the round.
Kuli Kuli said the investment will help it launch its new moringa ingredient business while continuing to scale its moringa powder, bars, and shots business. The company sells its moringa products in 7,000 stores in the U.S.
"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," Kuli Kuli's founder and CEO Lisa Curtis said.