Cloud kitchen company Rebel Foods raises Rs 100 Cr in debt round
Cloud kitchen startupraised Rs 100 crore in a debt round from and . Both Innoven and Trifecta invested Rs 50 crore each.
The board of Rebel Foods has passed a special resolution to issue 10,000 Series E Non-Convertible debentures at an issue price of Rs 1,00,000 per share to raise Rs 100 crore, or $12.5 million, according to a regulatory filing with the Registrar of Companies (RoC).
In October 2021, Rebel Foods joined the unicorn club after raising $175 million at a $1.4 billion valuation. So far, in its overall 20 funding rounds, Rebel Foods has raised a total of $536.5 million in funding.
At the beginning of this year, the company provided $10 million worth of ESOP buyback to 150 current and former employees.
Recently, the Sequoia-backed startup raised Rs 75 crore in venture debt from Alteria Capital. It has made four investments in companies, including, , and .
In April 2022, Rebel Foods acquired a majority stake in the luxury chocolate brand Smoor. This is in line with the company's recent announcement of investing $150 million over the coming years as part of its focus on investing and acquiring promising brands to serve more food categories from its cloud kitchens.
Founded in 2011 by Jaydeep Barman and Kallol Banerjee, Pune-based Rebel Foods has 4,000 cloud kitchens across 45 brands, including Behrouz Biryani,, and Ovenstory Pizza. It operates in India, the UAE, Indonesia, the UK, Singapore, Malaysia, Thailand, Hong Kong, and Bangladesh, among others.
Edited by Suman Singh