Rebel Foods looks for $1.5 billion valuation
- ByStartupStory | October 6, 2021
Rebel Foods Pvt. Ltd plans to raise approximately $150,200 million for a valuation to $1.5 billion, Mint reports. The company is in advanced talks with the Qatar Investment Authority and US buyout fund Carlyle. They plan to use the new funds for acquisitions.
Rebel Foods owns popular online cooking brands such as Faasos and Behrouz Biryani.
The deal is planned to be done before Diwali, as per reports.
SoftBank’s Vision Fund also considered investing in Rebel Foods, but later canceled its plans.
The Rebel Foods acquisition will likely use most of the new capital to build a war chest.
The company currently operates more than 400 retail outlets of all brands and is in talks with fast-service restaurant chains and food labels for strategic partnerships.
“Therefore, they are targeting in two ways — either by dividing the income by lending them their massive infrastructure and sometimes by adding equity,” the report said.
Rebel Foods has used their strategy manual during their recent collaborations with Slay Coffee and Biryani Blues. VCCircle announced on Monday that Rebel Foods has acquired a minority stake in fast food brand Biryani Blues.
According to a report from Captable, Rebel Foods is also in talks to lease Made Over Donuts’ delivery service and is also investing in the momo Zomos brand.
The company changed its name from Faasos Food Services Pvt to Rebel Foods. Ltd in 2018. Last December, the company expanded its operations with FoodyBuddy, which specializes in home chefs. Rebel Foods includes Cotu Management, Goldman Sachs and Indonesia’s Go-Jek among its investors.
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