Cloud kitchen giant Rebel Foods raises $210 million in a Series G funding round

Mumbai-based cloud kitchen giant Rebel Foods has raised $210 million in its Series G funding round led by Singapore's Temasek and supported by existing investor Evolvence.

The funding, a mix of primary and secondary share sales, marks a significant milestone for the company, which operates brands like Faasos, Oven Story, and Behrouz Biryani. The transaction provided partial exit to early investors, including Lightbox and Coatue.

Rebel Foods did not disclose the specific valuation or details of the transaction. The funds are expected to expand its operations and strengthen its portfolio of brands, the company said in a statement.

Growth and financial recovery

Rebel Foods’ financial performance has significantly improved in recent years. Revenue increased by 19% to Rs 1,420 crore in FY24 from Rs 1,195 crore in FY23, while losses narrowed by 42% to Rs 378 crore during the same period.

Cost-cutting measures, including a reduced workforce and optimized expenses, have helped halve the company’s monthly cash burn to ₹25 crore in FY24.

The company operates over 450 cloud kitchens in 75 cities across India and international markets, including the UAE and the UK.

Plans to enhance its omnichannel presence include establishing 250 physical outlets and exploring offline food courts featuring its nine brands under one roof.

Technology-driven scalability

Rebel Foods credits its success to its proprietary technology platform, Rebel OS, which enables rapid scaling and brand launches.

Using the Rebel Launcher, the firm has introduced over 25 brands across India. This innovation-driven approach underpins its competitive edge in the evolving food tech landscape.

Founded in 2011 by Jaydeep Barman and Kallol Banerjee, Rebel Foods competes with startups like Curefoods, Eatclub, and Biryani by Kilo. The firm has raised more than $710 million in total funding, including the latest round.