Rebel Foods is a cloud-based virtual platform for food businesses that announced an 18.8 percent increase in operational revenue to Rs 1,420 crore in FY24. The startup provides an operating system of culinary innovation, cooking equipment, and a robust supply chain to increase sales and revenue in the food business. The company offers various cloud services for businesses to manage customer engagement using the cloud. The startup provides full-stack customer engagement services using advanced technologies and patented machinery.
Entrackr mentioned in its report that the firm earns its income from storage, delivery services, royalty, brokerage, and commissions. The company also earns revenue from selling food through its owned kitchens and stores. The core operations account for 96.7 percent of total operating revenue in FY24. The company has raised over 516 million USD across multiple funding rounds since its inception, including 13.2 million USD raised during its conventional debt funding round led by Innoven Capital, and Alteria Capital. The company claims to have around 450 cloud kitchens across 75 cities in India including UK, India, and Indonesia. The startup data intelligence platform, the kredible mentioned that Sequoia Capital is the largest institutional investor of the firm.
Rebel Foods offers a virtual cloud kitchen to provide a restaurant network for food businesses. This cloud-based system enables companies to manage their business efficiently without expensive manufacturing equipment. The legal, marketing, cost of material, and other expenses increased the total expenses by 1.6% to Rs 1,857 crore in FY24. However, 33 percent of the total expenditure goes to the cost of materials. The startup reported a 42.4 percent decrease in losses to Rs 378 crore for this financial year.
The food tech company is focused on improving its business model while offering more innovative solutions, positioning it well in the food tech market. The company plans to minimize losses by reducing operating expenses and employee benefits. The material cost increased the total burn by 6.2 percent to Rs 613.35 crore in FY24. The EBITDA margin also improved and stood at -10.76% while the EBITDA loss was reported to be around Rs 159.83 crore in the same period. The employee benefits expenses also reduced by 2.6% to Rs 394.92 crore this year. The company competes with other cloud-kitchen platforms including Bigspoon, Eatclub, and others.
Conclusion:
Rebel Foods announced an 18.8 percent increase in operational revenue to Rs 1,420 crore. This food tech startup offers cloud kitchen services to help companies manage their food business. These cloud kitchen services, delivery services, and food selling through its owned kitchens are the company’s primary sources of revenue. The startup reported over 40 percent decrease in its losses to Rs 378 crore in FY24. The total expenditure of the firm increased by 1.6 percent and crossed Rs 1,857 crore in the same duration. The cost of materials takes up to 33 percent of the overall expenditure. Rebel Foods faces competition from cloud kitchen platforms such as Kitchens@, and Freshmenu.
