Cloud Kitchen Start-Up Rebel Foods Raises Rs 100 Crore Through Debt Funding

Updated on: 2 November 2022 3:15 am

This funding commitment to the non-banking financial corporation is for five years with a two-year moratorium on principal payment t

NeoGrowth raises $20 million from United States International Development Finance Corporation Photo: This funding commitment to the non-banking financial corporation is for five years with a two-year moratorium on principal payment t

Pune-based cloud kitchen brand Rebel Foods secured its second round of debt funding in 2022. This time around, it raised Rs 100 crore from two investors—InnoVen Capital and Trifecta Capital—Entrackr reported. Both of the funds infused Rs 50 crore into the company.

Currently backed by Sequoia, the firm raised Rs 75 crore in debt from Alteria Capital in September. For the latest round of debt funding, the the company's board passed a resolution to issue 10,000 Series-E Non-Convertible debentures at an issue price of Rs 1,00,000 per share.

According to Fintrackr data, the company raised $520 million in debt and equity funding and earned a post-money valuation of around $1.4 billion recently.

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With multiple brands like Faasos, Behrouz Biryani and Ovenstory Pizza, Rebel Foods currently runs operations in countries including Singapore, Malaysia, the UK, and the UAE.

Rebel Foods was founded in 2011 with the launch of Faasos as a physical restaurant chain with online ordering facilities. In forayed into the cloud kitchen domain in 2015 with this quick service restaurant (QSR) brand as its prototype and later added other brands including Behrouz Biryani, Ovenstory, Firangi Bake, Mandarin Oak and Sweet Truth.

In 2019, it opened its platform for other food and beverage brands like Slay Coffee, Zomoz, Wendy's, Naturals and Mad Over Donuts to help them scale up and grow within Rebel Foods' operating system.

Earlier this year, Rebel Foods announced its plans to investi $150 million as part of its focus on investing and acquiring promising brands to serve more food categories from its cloud kitchens. Its Thrasio-style portfolio, Rebel Launcher, aims to add 40 to 50 food categories in the future and also take these brands across 10 countries globally.