Rebel Foods, a Pune-based cloud kitchen startup of the Faasos brand, has secured $125 million (approx ₹863 crore) in series D round from Coatue Management, Goldman Sachs, Go-Jek and others.
According to sources, the company’s valutions, after the investment, will be $525 million. The company claims to expand its presence into Southeast Asia and the Middle East.
While, in March 2019, the platform bagged Rs 110 crore ($15.8 million) as part of its Series D round from venture capital firm Sequoia Capital India, Lightbox Ventures, and Evolvence India Fund.
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 Story, Firangi Bake, Mandarin Oak, Kettle & Eggs, and Behrouz under Rebel Foods.
The firm currently currently operates a network of 235 cloud kitchens in 20 Indian cities with an order volume of two million per month.
Also, the company has launched 1,600 internet restaurants in India across 11 brands.
In the cloud kitchen startup category, other players in the race constitutes Biryani By Kilo, Box8, FreshMenu, UberEats, InnerChef, Swiggy and Zomato.