Rebel Foods enters unicorn club after USD 175 million fundraise

Rebel Foods on Thursday said it has raised USD 175 million (around Rs 1,300 crore) in a funding round led by Qatar Investment Authority, valuing the company at USD 1.4 billion. Existing investors Coatue and Evolvence also participated in the latest funding round. Rebel Foods has brands such as Faasos, Behrouz Biryani and Mandarin Oak in its portfolio.

The Series F round catapults the company to unicorn status with a valuation of USD 1.4 billion, Rebel Foods said in a statement. The company is also working towards an initial public offering (IPO) in the next 18-24 months, it added. “We are excited to welcome Qatar Investment Authority (QIA), which has a track record of being a long-term supportive investor. With this round of funding, we will continue to serve newer customer food missions powered by technology and automation,” Rebel Foods Chief Strategy Officer Ravi Golani said.

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With the influx of fresh funding, the company will continue to focus on growing international footprint, technology and brand acquisitions, the statement said. “This round of funding will be re-invested in building our technology, increasing our global presence and also acquiring new brands. Rebel Foods is working towards an IPO in the next 18-24 months,” Rebel Foods Chief Financial Officer Piyush Kakkad said.

Founded in 2011 by Jaydeep Barman and Kallol Banerjee, Rebel Foods operates over 450 kitchens globally across 60 plus cities across 10 countries. It is parent to brands such as Faasos, Behrouz Biryani, Ovenstory Pizza, Mandarin Oak, The Good Bowl, SLAY Coffee, Sweet Truth and Wendy’s, among others.