December 12, 2024: Rebel Foods has secured $210 million in a mix of primary and secondary share sales to expand its market footprint and expand its portfolio of brands. The cloud kitchen revealed the Series G round, which was spearheaded by Temasek and witnessed participation from Evolvence, enabled exits to some investors.
Jaydeep Barman – Co-founder and CEO, of the cloud kitchen firm said “This funding reinforces our vision to keep strengthening our platform thereby enhancing our portfolio of brands, scale our omnichannel presence, and drive operational excellence globally.”
Rebel Foods Eyes UAE and UK Markets
Rebel Foods operates over 450 kitchens across 70+ cities in India and expanding into international markets such as the UAE and UK. Founded in 2011 by Jaydeep Barman and Kallol Banerjee, the cloud kitchen firm currently houses brands like Faasos, Behrouz Biryani, Oven Story Pizza, Lunchbox, The Good Bowl, Sweet Truth, and Wendy’s among others.
The cloud kitchen operator, reportedly planning an initial public listing within the next 12 to 18 months, has significantly reduced its after-tax losses by 40%, bringing them down to Rs 378 crore in FY24, compared to Rs 656 crore the previous year.
The cloud kitchen reported a 19% growth in operating revenue, reaching Rs 1,420 crore, up from Rs 1,195 crore in the previous fiscal year.
A fortnight ago the Competition Commission of India (CCI) approved investment in Rebel Foods. The investment was made via Temasek Holdings’s arm, Jongsong Investments Pte. Avendus Capital acted as the exclusive financial advisor to Rebel Foods.
Rebel Foods competes with Curefoods and FreshMenu.
