DUBAI – KBW Ventures, founded by CEO Prince Khaled Bin Alwaleed, announced on Tuesday its investment in a French mission-led startup, Furahaa Group.
Based in Paris, France, the group was founded in 2015 by entrepreneur Arthur Devillers and has three operational subsidiaries: PlantB2B, ViVeg and its eponymous restaurant, Furahaa.
Plant B2B is a supply chain and distribution entity that also stocks the group’s restaurants, while ViVeg is one of the company’s B2C branches with a vegan food subscription box business model, and Furahaa is the The company’s popular vegan fast food chain.
“This is my first investment on the French market. The Furahaa Group, driven by Arthur’s vision for an inclusive and diverse workplace, while giving consumers and other suppliers a way to choose herbal options, immediately interested me in the company ” Prince Khaled said, noting the investment.
“The distribution industry is strong, and during the pandemic I saw a quick and organized pivot – something any investor would find very attractive in a holding company,” he continued. KBW Ventures participated in the company’s seed cycle alongside private investors.
“The Furahaa group was initially looking for like-minded investors to ensure the stability of our shares. We wanted to better respond to shortages of food products of plant origin, because in France, alternative proteins – meat and dairy products – are not yet widely available at competitive prices, ”said Devillers.
“Finding quality ingredients at price parity was a challenge, which is why Furahaa Group developed its own supply chain and its own distribution flows.”
Devillers added that the fast food segment will see new menu items very soon, with the aim of embracing the latest developments in food science in the vegan ecosystem.
The gGroup also plans to expand into France with the opening of new Furahaa points of sale, and plans to launch a franchise model: “Furahaa would like to be the first plant-based chain in France. It’s simple: we want to be everywhere where traditional fast food is found, but by offering plant-based, delicious and ethical alternatives. “
KBW Ventures has invested in a number of food technology companies, including both plant-based alternatives and cultured cell solutions.
The Furahaa Group joins the existing companies in the KBW Ventures portfolio in the vegetable sector: Rebellyous Foods, plant-based chicken manufacturers with B2B and B2C verticals, Veggie Grill, the mainstay of American fast food, and the vegan jerky company Moku Foods.
Alongside his work in the industry, Prince Khaled serves on the advisory board of the global Feed The Next Billion Challenge organized by XPRIZE, a four-year competition focused on alternative proteins. – SG