With latest $125 mn funding, Rebel Foods plans to expand its footprint globally

Rebel Foods, the cloud kitchen startup, has raised $125 million in the ongoing Series D round from Coatue Management, Goldman Sachs, Indonesia’s Go-Jek, and others. Post this round, the Mumbai-based company’s valuation is said to be $525 million.

Started out as a quick-service restaurant (QSR), the company is now a multi-brand cloud kitchen model. It has established brands such as Faasos, Oven Story, Firangi Bake, Mandarin Oak, Kettle & Eggs, and Behrouz under Rebel Foods.

Rebel Foods is now planning to expand its footprint into Southeast Asia and the Middle East. 

Last month, Go-Jek, Southeast Asia’s leading ride-hailing major, also infused $5 million in Faasos through its venture capital arm Go Ventures. With this agreement, Rebel and Go-Jek is looking to set up 100 Indonesian cloud kitchens that will process biryani, pizza, Chinese food, and locally popular dishes like nasi goreng.

Rebel is further eyeing to launch 20 kitchens in the UAE by year-end.

Currently, the firm is operating a network of 235 cloud kitchens in 20 Indian cities with an order volume of two million per month. Rebel has also introduced 1,600 internet restaurants in India across 11 brands. 

Founded by Jaydeep Barman and Kallol Banerjee in 2010, the company was earlier known as Faasos Food Services Pvt Ltd. It rebranded its parent entity to Rebel Foods Pvt Ltd in 2018.