Foodtech unicorn Rebel Foods earmarks $150 million for strategic investments and acquisitions
- ByTejika Bajaj | December 15, 2021
Foodtech unicorn Rebel Foods which operates a series of cloud kitchen startups has announced that it has earmarked a sum of $150 million for strategic investments and acquisitions in India and globally.
The company revealed in a statement that the investment pool would be utilized in the next few quarters to scale up existing and new partnerships with more than 40 Indian and international brands. The announcement comes against the backdrop of Rebel Foods attaining unicorn status after raising $175 million in a round led by Qatar Investment Authority in October.
“We have disrupted the centuries-old food business and with our latest round of funding, we are well on our way to continue focusing on serving multiple food missions,” said Raghav Joshi, co-founder, Rebel Foods.
Mumbai-based Rebel Foods has created brands such as Faasos, Behrouz Biryani, Ovenstory Pizza and Mandarin Oak. Last year, it took over the India franchise of US burger brand Wendy’s. It operates more than 450 kitchens in 10 countries, including Indonesia, the United Arab Emirates and the United Kingdom. The company plans to expand internationally through its partnership with food and grocery delivery platform Foodpanda.
Through this partnership, which began in December 2019, for an initial five years, the two companies plan to take Rebel Foods’ home-grown brands such as Faasos, Behrouz Biryani and Lunchbox to Southeast Asian markets.
The accumulation of funds for strategic alliances and partnerships would allow the cloud kitchen giant to expand its reach not only domestically but also globally.
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