Pushing for US & Middle East to eat organic, Saudi prince joins Back To The Roots round
KBW Ventures, the early-stage backing company run by Saudi Arabian prince Khaled bin Alwaleed bin Talal Al Saud, has joined an backing round into Oakland, California’s organic gardening company Back to the Roots.
“There’s an abundance of need for what [Back To The Roots does], they have impressive year-on-year growth, and there are two powerhouse entrepreneurs — Nikhil and Alejandro — running the business,”
The round, of undisclosed size, was co-led by agrifoodtech specialists S2G Ventures and Acre Venture Partners. Back to the Roots’ claims that its seed line is the first 100% US-grown retail seed packet program domestically – a designation that positions it well following Amazon’s ban on the sale of foreign seeds in the country earlier this year.
Its spring 2020 pilot seed program included 92 varieties of fruits, vegetables, herbs and flowers, all of which are organic and non-GMO. There has in addition, since the pandemic, been a surge in the ‘buying local’ movement from influential chefs and larger hospitality-oriented businesses like four and five star hotels in Dubai.” Prince Khaled is carving out a strong name for himself in the agrifoodtech space as a vegan investor par excellence.
KBW Ventures has already placed some stellar bets. Tucked into the portfolio is plant-based protein trailblazer Beyond Meat, along with others focused on plant-derived meat alternatives like Ripple and Rebellyous Foods.
Then, there are his team’s bets on cellular ag’s early mover Memphis Meats and human breast milk fortifier Prolacta Bioscience. Others in the mix include cultured pet food developers Bond, animal-free gelatin producer Geltor, and lab-grown seafood maker BlueNalu.
