Rebel Foods enters into Unicorn club with USD 175 million funding led by Qatar Investment Authority

With the influx of fresh funding, Rebel Foods will continue to focus on growing their international footprint, technology and brand acquisitions.
  • Nusra Deputy Features Editor
Rebel Foods

World’s largest internet restaurant company Rebel Foods has today announced that it has raised USD 175 million in a Series F round led by Qatar Investment Authority (“QIA”), sovereign wealth fund of the State of Qatar with participation from existing investors Coatue and Evolvence.

This round catapults the company to a unicorn status with a valuation of USD 1.4 billion.

“The food-tech space has evolved towards better personalization, innovation, and complete transparency which Rebel Foods continues to pioneer. We are excited to welcome QIA, which has a track record of being a long-term supportive investor. With this round of funding, we will continue to serve newer customer food missions powered by technology and automation,” said Ravi Golani, Chief Strategy Officer, Rebel Foods.

It operates the largest number of internet restaurants worldwide and on this network, it has built 45+ brands (own + partners) across 10 countries - India, Indonesia, United Arab Emirates, United Kingdom, Singapore, Malaysia, Thailand, Hong Kong, Philippines and Bangladesh and operates 4000+ internet restaurants.

With the influx of fresh funding, Rebel Foods will continue to focus on growing their international footprint, technology and brand acquisitions.

“While we are excited about becoming the next unicorn, our focus continues to remain on improving customer experience the Rebel way. This round of funding will be re-invested in building our technology, increasing our global presence and also acquiring new brands,” shared Piyush Kakkad, CFO, Rebel Foods that is working towards an IPO in the next 18-24 months.

Globally, the internet restaurant space was already witnessing momentum even before the pandemic hit, due to the inherent advantages of cost and scalability compared to brick-and-mortar restaurants. The past year has only accelerated the trend, with a greater portion of dine business now transitioning to delivery.

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