PE Fund Investments
Cloud kitchen player Rebel Foods raises $25-M more from QIA at $1.4 B valuation: report
Qatar Investment Authority (QIA) has injected USD 25 million more into Temasek-backed, Mumbai-headquartered Rebel Foods , valuing the company at USD 1.4 Billion.The fresh funding will be used by Rebel to expand EatSure, its food court business. The company is likely to use the funds also to open stores/restaurants in Mumbai, Pune, Bengaluru and Delhi.Post the current funding round, Temasek will be the largest single non-founder shareholder in the company. The founders hold around 12% stake in the company and QIA holds around 9.9% stake. In October 2021, the company raised USD 175 million in its Series F funding round from investors led by QIA at a similar valuation.Founded in 2011 by Jaydeep Barman and Kallol Banerjee, Rebel Foods operates cloud kitchen brands such as Faasos, Behrouz Biryani, Oven Story Pizza, Mandarin Oak, The Good Bowl, SLAY Coffee, Sweet Truth and Wendy’s, apart from operating offline stores. In all, it operates over 450 kitchens across 70 cities. It has a portfolio of over 45 brands across India, UAE, Saudi Arabia and the UK.The company reduced its losses to INR 378 crore in FY24 from a net loss of INR 657 crore the year before. Its revenue from operations saw a rise to INR 1,420 crore in FY24, up from INR 1,195 crore the previous year.
Between Oct 2011 and Dec 2024, Rebel Foods had attracted about USD 827 M from KKR, Evolvence India, Temasek, Alteria Capital, InnoVen Capital, Northern Arc Capital, Stride Ventures, Coatue Management, Lightbox, Peak XV Partners, RB Investments, RTP Global and others.For FY24, Rebel Foods had reported about INR 1,420 Cr in Operating Income and about INR 378 Cr in Net Loss.
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