NS Series F The round gave the company a . changed into
With a valuation of $1.4 billion in 2021. It is the 31st Indian startup to achieve the feat this year.
Rebel Foods She said she is preparing a course for an initial public offering over the next 18-24 months.
It will use the new funds to expand around the world, build out its technology, and add more food brands to its existing 45. It currently operates over 450 kitchens in 10 countries including Indonesia, the United Arab Emirates and the United Kingdom.
“We are excited to be the next unicorn, but our focus remains on improving the customer experience in a rebellious way,” said Piyush Kakkar, Chief Financial Officer, Rebel Foods.
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The company said it continues to drive steady profits with annual sales of $150 million, growing 100% year over year. It said the development was at scale using cost-efficient cloud kitchens behind brick-and-mortar restaurants.
Business grew in Tier-II cities too, which saw higher demand for its services between April and July than metro cities, said Raghav Joshi,
The chief executive of the company’s India unit told ET in June.
Founded in 2011 by Jaideep Burman and Kallol Banerjee, Rebel Foods produces brands such as Faasos, Behrouz Biryani, Ovenstory Pizza and Mandarin Oak. Last year,
It took over the Indian franchise of US burger brand Wendy’s.
Ravi Golani, Chief Strategy Officer, Rebel Foods, said in a statement, “The food-tech space has evolved towards enhanced personalization, innovation and complete transparency. We are excited to welcome QIA, whose track to be a long-term subsidiary investor. record.”
Deal activity in the cloud kitchen sector in India has increased in recent months. Wow! Momo Foods also recently
Raised about $17 million and have IPO ambitions. CureFoods, founded by Ankit Nagori,
Raised $13 million from Iron Pillar To acquire and launch Internet-First Brands in August.