Cloud kitchen giant Rebel Foods elevates IIT Bombay alumnus Ankush Grover to global CEO

Indian cloud kitchen unicorn Rebel Foods has elevated co-founder Ankush Grover to the role of global chief executive officer (CEO), signalling a fresh phase of operational realignment as the company readies itself for a public listing (IPO).

Grover, who has served as CEO of India operations since 2023, will now oversee all core global functions, including technology, finance, marketing and human resources. He is an alumnus of NIT Jamshedpur and IIT Bombay.

He replaces co-founder Jaydeep Barman, who transitions to the role of chairman and group CEO. Barman will continue to guide Rebel Foods' long-term strategy while overseeing its broader portfolio of investee companies.

“Over the years, Ankush has played a pivotal role in building Rebel from the ground up and scaling it across markets. In his expanded role, all core functions, including technology, finance, marketing, and human resources, will now report directly to him,” the company's spokesperson said.

Founded in 2011 by Barman and Kallol Banerjee, Rebel Foods operates one of the world’s largest internet restaurant brands, including Behrouz Biryani, Faasos, Ovenstory Pizza, SLAY Coffee and Wendy’s India. The company claims to manage over 350 kitchens across 70 Indian cities, processing approximately 250,000 daily orders.

The executive reshuffle comes at a crucial juncture for Rebel, which has been quietly preparing for a stock market debut. Reports in late 2024 suggested a possible IPO timeline between January and April 2026. While no formal update has been made public, the company’s recent moves, including operational consolidation and brand rationalisation, suggest a sharpening focus on profitability and efficiency.

Earlier this year, Rebel Foods shut its offices in Gurugram and Bengaluru, centralising staff in Mumbai. It also began reassessing its portfolio of premium brands, holding discussions to exit its investment in chocolate and dessert maker Smoor following underwhelming performance in key markets such as Mumbai.

For FY24, operating revenue rose 19% to Rs 1,420.2 crore, while net loss narrowed by 42% to Rs 378.2 crore. Rebel has raised more than $773 million to date from investors including Temasek, Coatue, Peak XV Partners, and Lightbox.

Last year, the company raised $210 million in a Series G round led by Singapore's Temasek, with participation from existing investor Evolvence. Later in February, it launched QuickiES, a 15-minute food delivery service to compete directly with rivals like Zomato and Swiggy.