Rebel Foods is a cloud kitchen startup that offers virtual networks for food businesses. The startup secured 210 million USD in its ongoing series G funding round from Temasek. This round saw the participation of the firm’s existing investors including Evolvence. This fundraising was a mix of primary and secondary share sales. The startup plans to use these fresh proceeds to scale its business, improve its platform, expand its footprint, and strengthen its presence while enhancing its brand portfolio.
The food tech firm aims to use some of this investment to expand its network in India. The company has secured around 516 million USD across multiple funding rounds since its inception, including the $13.2 million raised during its conventional debt funding round from Alteria Capital and Innoven Capital. The startup operates a chain of restaurants and manages several food brands through its virtual network. The equity round came after a three-year gap for the firm. Rebel Foods raised around 50 million USD through five tranches in the last two years.
The startup intends to use this investment to improve its offerings while expanding its customer reach. The company leverages cloud kitchen platforms and offers an operating system of culinary innovation, cooking equipment, and a robust supply chain. The firm also provides technology to manage sales and revenue for food businesses. The company operates over 450 cloud kitchens worldwide, including around 75 in Indian cities, Indonesia, the UK, and the MENA region. The startup receives investments from Peak XV, Evolvence India, Qatar Investment Authority, and Couture.
The Mumbai-based startup saw an increase in its revenue from operations to Rs 1,420 crore in FY24. The firm saw a 42 percent increase in its losses to Rs 378 crore in the same duration. The development came just after the cloud kitchen platform got approval from the Competition Commission of India. Revel Foods emerged as the largest player in the cloud kitchen and food tech sector. Before this round, the existing investor, Sequoia Capital was the firm’s largest institutional investor. This investment shows the investor’s trust in Rebel Food’s market potential and business model. Rebel Foods faces competition from other cloud kitchen platforms including Biryani By Kilo, Curefoods, Bigspoon, HOI Foods, and others.
Conclusion:
Rebel Foods is a cloud kitchen platform that raised $210 million in its ongoing series G funding round from the participation of Evolvence and Temasek. This funding round was a mix of primary and secondary share sales. The company intends to use this fresh capital to improve its online platform, expand its network, and enhance its portfolio brand. The startup has secured around 516 million USD across 21 funding rounds since its inception.
This food tech firm manages food brands and products including restaurants. The company provides services in 75 Indian cities with 450 cloud kitchens and serves customers across various locations. Rebel Foods posted a revenue of Rs 1,420 crore in FY24 and it competes with cloud kitchen platforms like Cure Foods, EatClub, and Biryani By Kilo.
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