KBW Ventures, founded by CEO Prince Khaled bin Alwaleed, today announced its investment in French startup Furahaa Group, marking the first investment made in France by KBW Ventures. Based in Paris, the mission-driven startup is an inclusive workplace addressing the French market’s need for plant-based options and alternative proteins at price parity.
“It’s simple: we want to be everywhere that mainstream fast food is.”
Furahaa Group is a three-pronged entity that has both B2B and B2C segment, founded in 2015 by young entrepreneur Arthur Devillers, which has three operating subsidiaries: PlantB2B, ViVeg, and its eponymous dining venue, 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 arms with a vegan food subscription box business model, and Furahaa is the company’s highly-rated vegan fast-food chain.
“Furahaa would like to be the first plant-based chain in France”
Devillers noted that the fast-food segment of his group will see new menu items in the near future, with the aim of adopting the latest food science developments in the vegan ecosystem.
“Furahaa Group was initially seeking like-minded 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,” said Devillers.
“Sourcing quality ingredients at price parity was a challenge, so this led to Furahaa Group developing our own supply chain and distribution streams.”
Prince Khaled commented on the investment: “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.
The Group has plans to expand in France with the opening of new Furahaa outlets, and has 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 that mainstream fast food is, but offering plant-based, delicious, ethical alternatives.”
Furahaa Group joins existing KBW Ventures portfolio companies from the plant-based realm: Rebellyous Foods, makers of plant-based chicken with B2B and B2C verticals, American fast-food mainstay Veggie Grill, and vegan jerky company Moku Foods.