Chicago, IL January 12, 2019: InFrontier’s Afghanistan Fund announced a $2.5 million investment in Rumi at the end of 2018. “This investment from InFrontier enables Rumi to grow our saffron business, launch new Afghanistan spice products, and ultimately become spice as a force for good” says Keith Alaniz, co-founder and CEO of Rumi Spice.
Rumi Spice was founded in 2015 by a team of military veterans who served in Afghanistan. The company has since grown into the most successful international Afghan saffron brand. Named after one of the most famous Persian poets, Rumi saffron is sold to top restaurants and recently launched across Whole Foods Market (US) stores nationwide.
“Rumi Spice has demonstrated a commitment to the highest social and environmental standards and supply chain integrity, has developed a quality, sustainable product and has built a strong distribution network in the United States”, says Felix von Schubert, Director InFrontier Ltd.
Prior to Rumi’s Series A raise, the SLoFIG (Sustainable Local Food Investment Group), was the largest investor in Rumi. Seeing the promise in Rumi’s business model and mission, SLoFIG members have been investors in Rumi since 2016, when Rumi was little more than a few people scattered around a single table in the southside of Chicago, trying to get the company’s feet on the ground. SLoFIG has greatly contributed to Rumi’s growth by support through funding, networks, and advice.
“We would definitely not be where we are today without SLoFIG – they have been incredibly helpful,” says Laura Willis, the Director of Product at Rumi.
Come learn more about what Rumi has in store for 2019 at booth 6150!
About SLoFIG
The Sustainable Local Food Investment Group (SLoFIG) is a network of angel investors in good food businesses in the Midwest. Founded in 2011, SLoFIG members have invested more than $3.5 million in 18 food businesses all along the food supply chain, including growers, food processing, aggregation/distribution, grocers, restaurants and consumer packaged goods. SLoFIG members identify promising startup and early-stage companies, then provide capital, expertise and a network of contacts to help grow their businesses. For more information, visit http://slofig.com.
About InFrontier
InFrontier is a specialist frontier-market investor authorized and regulated by the Financial Conduct Authority (FRN 605294). It is the first international private equity firm with a dedicated team and active investments in Afghanistan, managing the only private equity fund for Afghanistan globally. The fund is over $30m size from European financial investors including CDC Group – the UK’s development finance institution, FMO – the Dutch Development Bank, and the Dutch Good Growth Fund, an initiative of the Dutch Ministry of Foreign Affairs, managed by Triple Jump. Find out more at www.infrontier.com.