Kisii-Born Harvard Graduate Gets ksh. 44 Million Funding From US Shark Tank Investors -

Kisii-Born Harvard Graduate Gets ksh. 44 Million Funding From US Shark Tank Investors

Margaret Nyamumbo, a Kenyan residing in California, has captured the hearts of both investors and viewers of the Shark Tank Reality TV show with her Kahawa 1893 Coffee company. The business exports African Coffee, grown and harvested by women, to the United States. During her appearance on the show’s fourteenth season, Margaret pitched her idea to five potential investors, including Mark Cuban, Emma Grede, Robert Herjavec, Kevin O’Leary, and Lori Greiner. She successfully secured Sh. 44 million ($350,000) for an 8% equity of her firm from Emma Grede.

Nyamumbo’s passion for sharing coffee produced by Kenyan women farmers, who make up 90% of the labor and production, inspired her to create Kahawa 1893. She aims to empower and compensate these women fairly, as many are not compensated because they do not own the land they work on. Kahawa 1893 sources its coffee from farmers in Kenya, Rwanda, and Congo, and offers a variety of blends, including the Safari Blend, Kenyan Single Origin, Serengeti Blend, Ethiopian Blend, Roaster’s Choice, and more.

Nyamumbo’s unique and innovative business model, which aims to create a coffee revolution, has been positively received, with Kahawa 1893 becoming the first African coffee brand sold at Trader Joe’s in 2021. Kahawa 1893 has also signed deals that have made the product available at 768+ outlet stores in California and other states. To further empower women coffee farmers, customers can tip them through a QR code found at the back of the coffee bag.

Nyamumbo’s appearance on Shark Tank has brought attention to her company and its mission, inspiring positive comments from admiring Kenyans on Twitter. Kahawa 1893’s varieties sell for $16.99 – $19.99 per packet, and in 2022, Margaret noted that sales were $2 million, with a profit of $150k. She projects annual sales of $4 million by the end of 2023, with 85% of her business coming from grocery stores and wholesale and 15% from consumers.

Emma Grede, a British businesswoman and shark investor, decided to invest $350k in Margaret’s firm, securing an 8% shareholding. Margaret’s personal experience and passion for creating change within the coffee industry have been the driving force behind Kahawa 1893’s success, and her innovative business model continues to empower and compensate women coffee farmers fairly.