rumi spice financials
Rumi Spice Enters the Shark Tank. (Courtesy of Rumi Spice) After serving tours in Afghanistan, attending Harvard Business School and launching a business in Chicago, Emily Miller and Kimberly Jung faced another, daunting challenge: pitching their company Rumi Spice to potential investors on the ABC reality TV show “Shark Tank.” Rumi Spice also raised a Series A round of funding to the tune of $2.5 million. The next year, it was 100 kilograms. 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. In May of 2017 Rumi Spice debuted on the reality TV show Shark Tank. Rumi Spice was founded by a number of army veterans, including our guest, co founder Kimberly Jung. You could get farmers to grow saffron, which is more valuable by weight than gold, instead of poppies. A place Rumi Spice CEO Kimberly Jung and CFO Keith Alaniz know well. Rumi Spice also raised a Series A round of funding to the tune of $2.5 million. The surge has forced both India’s financial and political capitals — Mumbai and New Delhi — to impose restrictions on movement, with the latter mandating a six-day strict lockdown starting April 20. Currently, we import the finest saffron directly from Afghan farmers and sell regionally, online, and wholesale. Rumi Spice is a for-profit social enterprise seeking to become the premier Afghan spice and dried goods company in the world. Rumi Spice began with a mission to cultivate peace in Afghanistan. Emily Miller, left, and Kimberly Jung discuss their company Rumi Spice in 2015. Rumi Spice had about $500,000 in sales in 2016 and is expecting that to double in 2017 according to Jung. K.J: Rumi Spice is a truly special organization because the social impact is intertwined closely with the business. And it all starts in Afghanistan. Over 80% of the Afghan population is reliant on the rural agricultural economy. Rumi began with a mission to cultivate peace in Afghanistan. Social and financial returns are not mutually exclusive. To witness the full depth and breadth of our data and for industry leading sales intelligence tools, take D&B Hoovers for a test drive. They attended Harvard Business school after their tours of duty and had this basic insight. “Potentially, if it’s a good outcome, we can expect a lot more than that,” Jung said before the show. “ That's really the first substantial raise that we've had outside of seed and angel investing,” Alaniz said. The success of the spice industry not only helps farmers and the women providing direct labor, it can touch every member of the village we work in. At Rumi Spice we strive to provide high-quality, sustainably farmed saffron to US consumers by sourcing directly from rural Afghan farmers in an economic partnership. Today, the company is building a global brand and connecting the global economy with Saffron. Rumi Spice is a for-profit social enterprise that imports saffron from Afghan farmers and cooperatives. D&B Hoovers provides sales leads and sales intelligence data on over 120 million companies like ALMI SPICES S.A. (PTY) LTD around the world, including contacts, financials, and competitor information. As Rumi Spice grows, the farmers in Afghanistan prosper, the saffron industry grows, and a foundation is laid … The company got another boost when the three founders were invited on the television show, “Shark Tank,” where company owners pitch their products in hopes of convincing one or more of the investors to back their product. We reinvest our profits to build the agricultural and manufacturing infrastructure necessary to lay a foundation for peace and prosperity. In the first year, Rumi Spice sold 30 kilograms of saffron, Jung said.
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