“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.”
The group also plans to open new Furahaa dining outlets and has plans to launch a franchise model for the chain.
“Furahaa would like to be the first plant-based chain in France,” Mr Devillers said. “It’s simple: we want to be everywhere that mainstream fast food is, but offering plant-based, delicious, ethical alternatives.”
KBW Ventures has invested in a number of companies in the food technology sector. Its portfolio of investments include plant-based alternative and cultivated cellular product companies. These include plant-based chicken product manufacturer Rebellyous Foods, US fast food company Veggie Grill and vegan jerky company Moku Foods.
DUBAI: KBW Ventures, the company founded by Saudi Arabia’s Prince Khaled bin Alwaleed bin Talal Al-Saud, has invested in French food technology startup Furahaa Group, the firm’s first investment in the European country.
Paris-based Furahaa Group was founded in 2015 by entrepreneur Arthur Devillers and is the holding company for a number of food and hospitality subsidiaries. Plant B2B is a food distribution company, ViVeg is a vegan food subscription platform, and Furahaa is its vegan fast-food restaurant chain.
Prince Khaled 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.
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Sharjah-based real estate developer Arada awarded a Dh180 million ($49m) contract to Al Ashram Contracting to build a new residential complex at its Aljada master development in the emirate.
Dubai-based contractor Al Ashram will build three residential apartment blocks and other amenities at the Dh24 billion mixed-use development, the company said in a statement on Sunday.
“These . homes in one of the most desirable parts of Aljada have been welcomed by investors and end-users and will be a valuable addition to Sharjah’s property landscape on completion,” Sheikh Sultan bin Ahmed Al Qasimi, chairman of Arada, said.
Arada is a joint venture between KBW Investments – a company controlled by Saudi Arabia’s Prince Khaled bin Alwaleed – and Sharjah-based Basma Group. The company set a target to increase annual sales to Dh3bn by 2025, its chief executive Ahmed Alkhoshaibi told
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