Cloud kitchen brand Rebel Foods gathered up $175 million in its Series F round drove by Qatar Investment Authority and partook by existing investors. The speculation denoted the passage of the first full-stack food-tech organization into the pined for club of unicorns.
In contrast to aggregators, full-stack platforms control all aspects of the food business: directly from cooking to conveyance. Other than its own application, Rebel use web based requesting platforms, for example, Swiggy and Zomato as circulation channels.
During the new funding round, Rebel Foods didn’t uncover the subtleties, for example, stake procured by the round pioneer and fresh shareholding. Fintrackr has decoded those subtleties alongside the round split through the organization’s regulatory filings.
Rebel Foods has designated 122,647 Series F preference shares at an issue cost of Rs 115,575.66 per offer to raise Rs 1,417.5 crore or $189 million. QIA has driven with Rs 1012.5 crore followed by Coatue and Evolvence India which contributed Rs 243 crore and Rs 162 crore individually.
Following the fresh portion of offers, Sequoia stays the biggest partner in the organization with 27.5%. Coatue and lightbox are the following on the cap table with 21.44% and 10.75% stake individually. Rebel Foods fellow benefactor and CEO Jaydeep Barman has a 9.13% stake in the organization.
Lead investor of this round QIA has obtained a 9.09% stake in Rebel Foods.
Reacting to Entrackr’s questions, Rebel Foods said its valuation was $1.42 billion after the Series F round. Notwithstanding, it didn’t remark on the shareholding design.
Rebel Foods turned into the 31st unicorn this year and the first from the foodtech space. The organization possesses local brands, for example, Faasos, Behrouz Biryani and Ovenstory Pizza and cases to work in excess of 45 brands across 10 nations like India, Indonesia, United Arab Emirates, United Kingdom, Singapore and others.
On Wednesday, the organization reported that it is expanding its quality in Southeast Asian business sectors by means of its old accomplice Foodpanda. As per the organization, it means to dispatch in excess of 10 web-based food brands in more than 2,000 outlets across Asia.
Rebel Foods gets over 60% of its request volume from Swiggy and Zomato. The organization is likewise preparing for a public posting and running after an IPO in the following 18 two years.
With this, the Jaydeep Barman-drove firm joins a few development and late-stage organizations including Byju’s, Urban Company, Cars24 and CarDekho which are considering public posting at some point in 2023.
Rebel Foods straightforwardly rivals Box8 while its portfolio draws in contest from a few brands and different cloud kitchens. The organization as of late got a minority stake in an omnichannel biryani chain: Biryani Blues.
Update: We have refreshed the feature and made a rectification in the story to reflect Sequoia is the biggest partner in Rebel Foods. SGI is a piece of Sequoia which was addressed as a different partner in the past variant of the story.
