Foodtech firm Rebel Foods has announced its Series G funding round of $210 million, comprising a mix of primary and secondary share sales. The Series G round was led by Temasek with participation from existing investor Evolvence.
According to the company, the round also facilitated certain investor exits without disclosing their names. Qatar Investment Authority, Peak XV, Lightbox, Evolvence India, and Coatue are its notable backers.
The equity round is coming after a gap of three years for the Mumbai-based company. However, it has raised nearly $50 million through five tranches of debt funding over the past two years.
The capital will be instrumental in expanding Rebel Foods’ footprint and strengthening its platform by enhancing its portfolio of brands, the company said in a press release.
The development comes soon after the approval of the Competition Commission of India (CCI).
Rebel Foods claims to operate over 450 cloud kitchens across India, the MENA region, Indonesia, the UK, and 75 Indian cities. In FY24, the company’s revenue from operations increased to Rs 1,420 crore, while its losses narrowed by more than 42% to Rs 378 crore during the same period.
Rebel Foods primarily competes with Curefoods, EatClub, Biryani By Kilo, FreshMenu, Biryani Blues, Kitchens@, Bigspoon, and HOI Foods.
Source: Entrackr : Latest Posts