The Indian Wire » Startups » Indonesia’s Go-Jek infuses ₹34.7 cr in Pune-based Rebel Foods (Faasos)
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Indonesia’s Go-Jek infuses ₹34.7 cr in Pune-based Rebel Foods (Faasos)

Go-Jek

Go-Jek, a ride-hailing major, situated in Indonesia, has infused ₹34.7 crore in the ongoing Series D round of Pune-based cloud kitchen startup Rebel Foods, of the Faasos brand. The investment was made through Go-Jek’s venture capital arm Go Ventures.

While, Go Ventures has acquired 667 Series D2 CCPS and 100 equity shares in Rebel Foods, according to the sources. 

The startup had also received $4.2 million from venture debt fund Alteria Capital in January this year.

Rebel Foods was founded by Jaydeep Barman and Kallol Banerjee in 2010. It started out as a quick-service restaurant (QSR) and is now a multi-brand cloud kitchen model that has established brands like Faasos, Oven StoryFirangi BakeMandarin OakKettle & Eggs, and Behrouz under Rebel Foods.

While, Go-Jek is a transportation network company and logistics startup company based in Jakarta, Indonesia. The Indonesia-based company was founded by Nadiem Makarim in 2010.

The company began services as a bike-taxi service and has since expanded its verticals into food, courier and grocery delivery services in Southeast Asia.

In March 2019, the company secured Rs 110 crore as part of its Series D round from venture capital firm Sequoia Capital India, Lightbox Ventures, and Evolvence India Fund.

In the last two years, the company has opened 1,100+ internet restaurants in India across nine brands in more than 15 Indian cities.

According to media reports, hospitality unicorn OYO is also trying expansion in the cloud kitchen space with the acquisition of FreshMenu. Last month, IvyCap Ventures led a Series A funding of $5 million in Biryani delivery startup Biryani By Kilo (BBK).

Besides, other cloud kitchen startups includes Biryani By Kilo, Box8, FreshMenu, UberEats and foodtech unicorns such as Swiggy and Zomato.

Also read: Zomato speculates to launch home-made food service; following Swiggy bandwagon

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