Khaled Bin Alwaleed's KBW Ventures Invests In Seattle-Based Rebellyous Foods' Equity Round Speaking to Entrepreneur Middle East, Prince Khaled pointed towards Rebellyous Foods' revolutionary tech as being the main driver for his company's investment in the foodtech enterprise.
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After participating in Rebellyous Foods' US$6 million Series A round in April 2020, KBW Ventures, the investment firm founded by Saudi Arabia's Prince Khaled bin Alwaleed bin Talal Al Saud, has backed the Seattle-based food manufacturing technology company again by investing in its new $9.5 million equity round.
Founded in 2017, Rebellyous Foods, whose current offerings include plant-based faux chicken nuggets, patties, and tenders, has developed patented technology that unlocks production at cost-parity to animal-based chicken. The company, which is led by founder and CEO Christine Lagally, aims to use its latest investment to deploy its breakthrough equipment, while continuing on its mission to grow accessibility and availability of plant-based meat through tech-backed solutions.
Speaking to Entrepreneur Middle East, Prince Khaled pointed towards Rebellyous Foods' revolutionary tech as being the main driver for his company's investment in the foodtech enterprise.
Image courtesy Rebellyous Foods.
"Over the past three years, Rebellyous has focused a lot of its resources on honing its proprietary technology and approaches to food production; it's one of the main reasons KBW Ventures has so much confidence in the company," Alwaleed said. "In addition to the technology, a real sector gamechanger, we have confidence in Rebellyous' leadership, products, and business development, this all leads to renewed interest in supporting their growth with funding. We also found the expansion roadmap very promising with the increased number of vendors and retailers opting for Rebellyous products."
In a statement, Lagally, who was once an aerospace engineer, contended Rebellyous Foods' latest fundraise to be a reinforcement of the objectives with which the company was launched. "During a tough economic slump, we are thrilled by this testament to investor belief in Rebellyous, and in price parity as a solution to sustained growth of plant-based meat in the marketplace," she said. "The world is in desperate need of viable solutions to animal agriculture, and we are delighted we are one step closer to delicious, affordable plant-based meat for all."
Besides KBW Ventures, Rebellyous Foods has secured the support of investors like Clear Current Capital, Fifty Years, Liquid 2 Ventures, CPT Capital, and Agronomics. After being founded to provide the plant-based meat industry the tools needed to radically increase production capacity while dramatically lowering costs for high-quality plant-based meat, Rebellyous Foods now has its products in more than 1000 retail locations and more than 100 school districts across the United States.
Related: Khaled Bin Alwaleed's KBW Ventures Joins Series A Round For American Foodtech Startup Black Sheep Farms