Start-up behind 'Faasos' and 'Behrouz Biryani' secures $210 million funding
What's the story
Rebel Foods, the cloud kitchen start-up behind popular brands such as 'Faasos' and 'Behrouz Biryani,' has raised $210 million in a Series G funding round.
Most of the transaction, nearly 75%, was through secondary share sales with early investors like Lightbox and Coatue selling their shares, according to Moneycontrol.
Singapore's Temasek led the primary capital portion of the round, with existing investor Evolvence also participating.
Financial growth
Funding round details and financial performance
The company said in a statement, that "the round witnessed certain investors receiving exits, underscoring Rebel Foods's commitment to delivering value to its stakeholders."
However, details on the deal or valuation were not disclosed.
This funding comes after Rebel Foods's improved financial performance with ₹1,420 crore in revenue for FY24, a 19% increase from ₹1,195 crore in FY23.
Losses were reduced by 42%, from ₹657 crore in FY23 to ₹378 crore in FY24.
Business strategy
Rebel Foods's expansion plans and current operations
Rebel Foods's total expenses stood at ₹1,857 crore in FY24, remaining largely flat year-on-year (YoY).
The company plans to expand its omnichannel presence by opening 250 physical outlets along with its cloud kitchens.
Rebel Foods currently operates over 450 kitchens across 70+ cities in India and international markets like the UAE and UK.
Its growth is backed by its proprietary tech platform, Rebel OS, which enables rapid brand launches and scaling.