Kellogg’s venture capital arm funds Kuli Kuli; names Kahn CFO

eighteen94 capital, Kellogg’s venture capital fund, has led a $4.25 million Series A funding of Kuli Kuli, a manufacturer and distributor of moringa-based products. Other institutional investors in the round were InvestEco and S2G Ventures.

Based in Oakland, Calif., Kuli Kuli is a leading moringa brand in the United States. A complete plant protein, moringa is produced by trees grown in semiarid and tropical areas. Its leaves, pods, and oil can provide a good source of iron, calcium, vitamin A, and other nutrients.

“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 superfood,” said Lisa Curtis, Kuli Kuli founder and CEO. “Through this relationship, Kuli Kuli will benefit from Kellogg’s resources and global presence, both of which will help us achieve our goals.”

Kuli Kuli is the first investment for eighteen94 capital. The fund was launched in June 2016 to invest primarily in companies pursuing next-generation innovation, bolstering Kellogg’s access to cutting-edge ideas and trends. The investment mandate includes a focus on start-up businesses pioneering new ingredients, foods, packaging, and enabling technology.

In other news, Kellogg has announced that Fareed Khan will join the company effective Feb. 17 as chief financial officer (CFO) and principal financial officer. Khan will succeed current CFO Ron Dissinger, who will remain with the company in 2017 to ensure an orderly transition. Khan joins Kellogg from US Foods where he has held the CFO position since 2013 and successfully led the company’s Initial Public Offering last year. Prior to US Foods, Khan served as senior vice president and CFO at United Stationers and spent 12 years at USG in a variety of finance, business, and leadership roles.

Investment press release

Khan press release