Rebel Foods, the cloud kitchen operator behind popular brands such as Faasos, Behrouz Biryani, and Oven Story, has raised $210 million in a Series G funding round. The round comprised a mix of primary and secondary share sales, led by Temasek, with participation from existing investor Evolvence. Certain investors also exited during this funding round.
In a video interview, Piyush Kakkad, Chief Financial Officer of Rebel Foods, stated, “We’re planning our IPO in the next 18- to 24-month time frame. We’re looking to schedule it at an opportune time.”
Jaydeep Barman, Co-founder and CEO of Rebel Foods, emphasized the company’s growth vision, saying, “This funding reinforces our vision to keep strengthening our platform, thereby enhancing our portfolio of brands, scaling our omnichannel presence, and driving operational excellence globally. As we enter this next phase of growth, we remain steadfast in our commitment to innovation, sustainability, and creating lasting value for our customers and stakeholders.”
Rebel Foods expects to achieve profitability at the adjusted EBITDA level by FY25, with its cloud kitchens already operating profitably at the unit level. The company has set its sights on a public listing in the Indian stock market, as confirmed by Sagar Kochhar, Co-founder and CEO of EatSure, a Rebel Foods brand.
Looking ahead, the company plans to expand its presence to 150-200 cities in India by 2028. This includes deeper penetration into tier-1 cities while making its brands more accessible in tier-2 and tier-3 cities.
Rebel Foods’ ambitious growth plans highlight its commitment to scaling operations, maintaining profitability, and catering to the evolving demands of its diverse customer base.
