KBW FUNDS FRENCH STARTUP FURAHAA: ROUTE TO VEGETARIANISM - MENA startups, innovation, and tech news

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KBW FUNDS FRENCH STARTUP FURAHAA: ROUTE TO VEGETARIANISM
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KBW FUNDS FRENCH STARTUP FURAHAA: ROUTE TO VEGETARIANISM

According to the press release by KBW Ventures, founded by Chief Executive Officer Prince Khaled bin Alwaleed, on Tuesday announced its investment in a mission-led French startupFurahaa Group, the deal marks the first investment made in France by KBW ventures.

KBW Ventures participated in the company’s seed round alongside private investors. Speaking of the investment in Furahaa Group, Prince Khaled, in a press statement said,

This is my first investment in the French market. Furahaa Group, driven by Arthur’s vision for an inclusive and diverse workplace, while giving both consumers and other vendors a route to choose plant-based options, had me interested in the business immediately,”

“The distribution business is strong, and during the pandemic, I saw a swift and organized pivot– something any investor would find very attractive in a portfolio company,” he continued.

 With the Headquarters located in Paris, France, the furahaa group was founded in 2015 by entrepreneur  ArthurDevillers, it operates a  vegetarian fast-food chain platform intended to offer plant-based alternatives. The company’s business sectors include plant-based fast foods restaurants and herbal products and catering advice, thereby enabling customers to choose alternative proteins (sources of protein other than the meat) at price parity.

It has three operating subdivisions:

  • PlantB2B-  a supply chain and distribution entity that also stocks the Group’s restaurants.
  • ViVeg- is one of the company’s B2C arms with a vegan food subscription box business model.
  • Furahaa- is the Group’s highly-rated vegan fast-food chain.

Arthur Devillers, founder of Furahaa Group, stated,

“Furahaa Group was initially seeking likeminded investors to ensure our stock stability. We wanted to better meet shortages of plant-based foodstuffs, as in France alternative proteins – meat and dairy alternatives – are not yet widely available at competitive price points,”

“Sourcing quality ingredients at price parity was a challenge, so this led to Furahaa Group developing our own supply chain and distribution streams.” Devillers continued

A Vegetarian meat!

 With the application of the latest food science developments in the veg ecosystem, it is possible to make vegetarian meat, made from soybean,wheat gluten, vegetables, or a combination of those three main ingredients.

So, this is the idea of a plant-based alternative upon which the FURAHAA group is based upon.With this approach, the fast-food segment will see new menu items very soon. The Group also plans to expand in France with the opening of new Furahaa outlets and has plans to launch a franchise model.

With this funding,Furahaa Group joins existing KBW Ventures portfolio companies from the plant-based realm: Rebellious Foods, makers of plant-based chicken with B2B and B2C verticals, American fast-food mainstay Veggie Grill, and vegan jerky company Moku Foods.  KBW Ventures has invested in several companies in the food technology sector including both plant-based alternatives and cultivated cellular solutions, buttheir investment in furahaa is a tremendous effort to raise awareness about vegetarianism along with strengthening their initiative of offering plant-based, delicious, ethical alternatives.

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1 Comment

  1. Sanjay

    Some things good or bad it’s depend on your use

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