Debt financing
Rebel Foods raises $13-M from Alteria, InnoVen
Mumbai-based cloud kitchen unicorn Rebel Foods has raised INR 110 crore (USD 13.2 million) in venture debt funding from Alteria Capital and InnoVen Capital. Alteria Capital Fund II has invested INR 30 Cr while Alteria Capital Fund III has infused INR 35 Cr via Orbis Trusteeship. InnoVen Capital India Fund has invested INR 45 Cr via Vistra ITCL.Rebel Foods has issued 11,000 Series G1 and G2 non-convertible debentures at a face value of INR 1 Lakh per debenture.The company had raised INR 75 crore (USD 9.1 million) from Northern Arc and Stride Ventures in April last year. Prior to that, in 2022, it raised INR 55 crore (USD 6.6 million) in debt from InnoVen Capital and Trifecta Capital.Founded in 2011 by Kallol Banerjee and Jaydeep Barman, Rebel Foods houses leading QSR chains, including Faasos, Behrouz Biryani, Ovenstory Pizza, Mandarin Oak, The Good Bowl, and SLAY Coffee. The startup operates over 450 kitchens across 80 cities.Its brands also have presence in the United Arab Emirates (UAE), Saudi Arabia, and the UK.The company reported an operating revenue of INR 1,195.2 crore in FY23, which grew 39% year-on-year (YoY). However, its loss widened by 23% YoY to INR 656.5 crore in FY23 in the fiscal year.
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