Furahaa Group, a fledgling meat-free firm, has attracted investment from KBW Ventures, the vehicle led by Saudi Arabia’s Prince Khaled bin Alwaleed.
Paris-based Furahaa runs three businesses – PlantB2B, ViVeg and its eponymous foodservice outlets.
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Plant B2B is a distributor, which sells products for companies including UK meat-free business Moving Mountains.
ViVeg is a B2C business which delivers boxes of vegan food directly to consumers.
According to Furahaa’s website, there are four namesake restaurants – three in Paris and one in Strasbourg. Furahaa wants to open outlets outside France.
The terms of KBW Ventures’ investment were not disclosed.
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By GlobalData“The distribution business is strong, and during the pandemic I saw a swift and organised pivot – something any investor would find very attractive in a portfolio company,” Prince Khaled said.
Furahaa was set up by Arthur Devillers in 2015. “Furahaa Group was initially seeking like-minded investors to ensure our stock stability,” Devillers said.
“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.”
On the restaurant arm, he added: “Furahaa would like to be the first plant-based chain in France. It’s simple, we want to be everywhere that mainstream fast food is but offering plant-based, delicious, ethical alternatives.”
KBW Ventures’ current investments include two US businesses – plant-based chicken supplier Rebellyous Foods and vegan jerky company Moku Foods.
