Rebel Foods raises $210 million in funding

IPO-bound cloud kitchen operator Rebel Foods has raised $210 million in its series G mix funding round of primary and secondary share sales. 

The funding round was led by Singapore’s Temasek Holdings, with participation from existing investor Evolence and other investors.

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Avendus Capital was the exclusive financial advisor to Rebel Foods for this transaction.

The company said the new funding will help expand Rebel Foods' presence and improve its platform by growing its brand portfolio.

“This funding reinforces our vision to keep strengthening our platform thereby enhancing our portfolio of brands, scale our omni-channel presence, and drive operational excellence globally,” said Jaydeep Barman, Co-founder and CEO, Rebel Foods. 

Rebel Foods runs several internet-first brands like Faasos, Behrouz Biryani, Lunchbox, The Good Bowl, Sweet Truth, Oven Story Pizza and Wendy's. It also has its own direct-to-consumer platform, EatSure. 

The brand portfolio also includes Slay Coffee by DropKaffe Food and Beverages Pvt Ltd, Smoor by Bliss Chocolates India Pvt Ltd, and Zomoz and Biryani Blues (Thea Kitchen Pvt Ltd).

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The company says it operates over 450 kitchens in more than 70 cities in India. It has also expanded to international markets like the UAE and the UK.

In October 2021, Rebel Foods raised $175 million, led by Qatar Investment Authority, with participation from existing investors Coatue and Evolvence. This funding valued the company at around $1.3 billion, making it a unicorn.

In FY24, the company’s revenue grew to Rs 1,420 crore, while its losses decreased by over 42% to Rs 378 crore.

About Rebel Foods

Rebel Foods is an Indian company that runs both cloud kitchens and physical restaurants. Rebel Foods is an Indian online restaurant company that runs 11 cloud kitchen brands, such as Faasos, Behrouz Biryani, and Oven Story. It is the largest cloud kitchen chain in the world, with over 450 kitchens in 10 countries as of April 2022. 

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