Saudi investor takes chunk of US synthetic pet food maker

Prince Khaled bin Alwaleed bin Talal Al-Saud, founder of KBW Investments and KBW Ventures and co-founder of the property developer Arada. (Supplied)
Short Url
Updated 27 August 2020
Follow

Saudi investor takes chunk of US synthetic pet food maker

  • The global pet food market is estimated to be worth about $100 billion

LONDON: Saudi entrepreneur Prince Khaled bin Alwaleed bin Talal is boosting his involvement in a US company that claims to have produced the world’s first animal-free, cultured chicken meat protein for pet food.

The vegan son of hotel tycoon Prince Alwaleed is investing for the second time in US-based Bond Pet Foods through his company KBW Ventures after participating in a $1.2 million seed funding round last year. 

It is the fourth cellular agriculture startup that KBW Ventures has invested in and comes as interest in synthetic proteins increases, in part because of global food security worries. 

Using a proprietary production process, Bond is able to take a blood sample from a hen to determine the genetic code for the best types of chicken proteins to be used in pet food.  This code is then coupled with a strain of food grade yeast. When this yeast is grown in a fermentation tank, it churns out meat proteins that are identical to those typically produced on farm and field.

“The science team at Bond is also working on production of other cultured meat proteins made through a similar fermentation process,” said Bond Pet Foods co-founder Pernilla Audibert.”

Bond’s cultured chicken protein is set to result in products in 2023. It will have the same primary nutrients of conventional chicken meat, including its essential amino acids, the company claims.


Saudi POS spending jumps 28% in final week of Jan: SAMA

Updated 06 February 2026
Follow

Saudi POS spending jumps 28% in final week of Jan: SAMA

RIYADH: Saudi Arabia’s point-of-sale spending climbed sharply in the final week of January, rising nearly 28 percent from the previous week as consumer outlays increased across almost all sectors. 

POS transactions reached SR16 billion ($4.27 billion) in the week ending Jan. 31, up 27.8 percent week on week, according to the Saudi Central Bank. Transaction volumes rose 16.5 percent to 248.8 million, reflecting stronger retail and service activity. 

Spending on jewelry saw the biggest uptick at 55.5 percent to SR613.69 million, followed by laundry services which saw a 44.4 percent increase to SR62.83 million. 

Expenditure on personal care rose 29.1 percent, while outlays on books and stationery increased 5.1 percent. Hotel spending climbed 7.4 percent to SR377.1 million. 

Further gains were recorded across other categories. Spending in pharmacies and medical supplies rose 33.4 percent to SR259.19 million, while medical services increased 13.7 percent to SR515.44 million. 

Food and beverage spending surged 38.6 percent to SR2.6 billion, accounting for the largest share of total POS value. Restaurants and cafes followed with a 20.4 percent increase to SR1.81 billion. Apparel and clothing spending rose 35.4 percent to SR1.33 billion, representing the third-largest share during the week. 

The Kingdom’s key urban centers mirrored the national surge. Riyadh, which accounted for the largest share of total POS spending, saw a 22 percent rise to SR5.44 billion from SR4.46 billion the previous week. The number of transactions in the capital reached 78.6 million, up 13.8 percent week on week. 

In Jeddah, transaction values increased 23.7 percent to SR2.16 billion, while Dammam reported a 22.2 percent rise to SR783.06 million. 

POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in Saudi Arabia.  

The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives.  

The growth of digital payment technologies aligns with Saudi Arabia’s Vision 2030 objectives, promoting electronic transactions and contributing to the Kingdom’s broader digital economy.