October 28, 2021

The World Live Breaking News Coverage & Updates IN ENGLISH

The World Live Breaking News Coverage & Updates IN ENGLISH

Behrouz Biryani co Rebel 31st Indian unicorn in ’21

1 min read
Behrouz Biryani co Rebel 31st Indian unicorn in ’21
Share This :
Behrouz Biryani co Rebel 31st Indian unicorn in ’21
Behrouz Biryani co Rebel 31st Indian unicorn in ’21

NEW DELHI: Rebel Foods, which owns prominent brands such as Faasos and Behrouz Biryani, has become the third unicorn in as many days and the 31st in India this year after raising $175 million at a valuation of $1.4 billion.
The series-F fund-raise was led by Qatar Investment Authority (QIA), a sovereign wealth fund, with participation from existing investors Coatue and Evolvence.
Rebel Foods, with delivery only food brands — Ovenstory Pizza, Mandarin Oak, Firangi Bake, Lunch Box and The Good Bowl — plans to use these funds for global expansion, brand acquisition and technology development. Started in 2011 by Jaydeep Barman and Kallol Banerjee, the brand is present in multiple cities in India and has already expanded to 10 countries across the globe.
Ravi Golani, chief strategy officer of Rebel Foods, said the food-tech platform was excited to welcome QIA as it has a track record of being a long-term supportive investor.While online food aggregators have been the focus of investors, cloud kitchens, QSRs and delivery-only brands have gained traction since last year. Wow! Momos recently raised $15 million in a series-C round to strengthen its cloud kitchen network
Rebel Foods claims it is steadily moving towards profitability with an annual run rate sales of $150 million and is eyeing an IPO in 18-24 months. Rebel Foods chief financial officer Piyush Kakkad confirmed its IPO plans to TOI and stated, “This round of funding will be re-invested in building our technology, increasing our global presence and also acquiring new brands.”

Share This :
Copyright © All rights reserved. | Newsphere by AF themes.