Saudi's KBW Ventures invests in plant-based lamb producer

KBW Ventures, an asset management company founded by Prince Khaled bin Alwaleed in Saudi Arabia has invested in Black Sheep Foods, a plant-based alternative meat producer based in San Francisco, United States.

Recently the startup raised $12.3 million in a series A funding which was led by Unovis, Bessemer Venture Partners, AgFunder, and Prince Khaled bin Alwaleed. With this, Black Sheep Foods has raised a total investment of over $18 million since 2019. The company plans to use the funding to accelerate its R&D and scale up production of its plant-based lamb using its proprietary technology.

In a news report in The National, Sunny Kumar, chief executive and co-founder of Black Sheep Foods, was quoted as saying, “While texture has been the focus of meat innovation, flavour is a white space. Our debut lamb made from plants has more depth of flavour, richness … [as] we are in the business of giving consumers access to the most delicious meat variety, using plants instead of animals.”

It also quoted Prince Khaled saying,“With taste being a vital aspect of customer adoption, Black Sheep Foods will easily dominate amongst plant-based meats.”