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Faasos Parent Rebel Foods Breaches The INR 1,000 Cr Revenue

Inc42 · 1y ago

Faasos Parent Rebel Foods Breaches The INR 1,000 Cr Revenue

Mumbai-based cloud kitchen Rebel Foods, the parent company of Faasos and Behrouz Biryani, reported an operating revenue of INR 1,195.2 Cr in FY23, a 39% increase from the previous fiscal year. The startup's total expenditure also rose by 28% YoY to reach INR 1,827 Cr in FY23, mainly due to higher procurement costs. Despite the revenue growth, Rebel Foods posted a loss of INR 656.5 Cr in FY23. The company operates over 450 kitchens in 70 cities and has raised over $500 Mn from investors including Goldman Sachs and InnoVen Capital.

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Rebel Foods FY24: Net Loss Nearly Halves To INR 378 Cr

Inc42 · 12m ago

Rebel Foods FY24: Net Loss Nearly Halves To INR 378 Cr

Rebel Foods, the parent company of Faasos, reported a 19% increase in operating revenue to INR 1,420.2 Cr in FY24. However, its total expenses only saw a slight 1.6% increase to INR 1,857 Cr in the same period. Rebel Foods owns and operates several QSR brands, such as Behrouz Biryani, Ovenstory Pizza, The Good Bowl, and SLAY Coffee.

Temasek seeks CCI nod for investment in Rebel Foods

Economic Times

Economic Times · 10m ago

Temasek seeks CCI nod for investment in Rebel Foods

Singaporean sovereign fund Temasek is seeking approval from the Competition Commission of India (CCI) for a significant investment in Rebel Foods, the parent company of Faasos and Behrouz Biryani. Temasek is in advanced discussions to lead an investment of $100-150 million in Rebel Foods, which would include both primary and secondary share sales. The Mumbai-based firm turned unicorn in October 2021 after a $175 million funding round. Rebel Foods owns multiple cloud kitchen brands and plans to go public in the next few years. The cloud kitchen sector is expected to grow at a rate of 35.2% over the next four years.

Rebel Foods flags slowdown in food delivery growth; bets on 15-minute offering

Economic Times

Economic Times · 5m ago

Rebel Foods flags slowdown in food delivery growth; bets on 15-minute offering

Rebel Foods, experiencing slower growth, aims to innovate with 15-minute food deliveries through its brands like Faasos and Behrouz Biryani. Despite a dip in consumer spending, the company noticed an uptick in March due to events like Ramadan and Holi. Rebel Foods, which manages Wendy’s cloud kitchens in India, plans to expand Wendy’s outlets from 200 to 500 over three years with significant investment, aiming to triple revenue and strengthen its market presence.

Temasek leads $210 mn investment in Rebel Foods

VCCircle

VCCircle · 8m ago

Temasek leads $210 mn investment in Rebel Foods

Cloud restaurant company Rebel Foods has raised $210 million in its Series G funding round, led by Temasek, to expand its presence in both online and offline markets. The funding will be used to strengthen Rebel Foods' platform and enhance its brand portfolio, which includes Faasos, Behrouz Biryani, and Oven Story Pizza. Rebel Foods currently operates over 450 kitchens in more than 70 cities in India and has expanded internationally to the UAE and the UK. The company was valued at approximately $1.3 billion in its previous funding round in October 2021.

KKR set to take a bite of cloud kitchen operator Rebel Foods

VCCircle

VCCircle · 8m ago

KKR set to take a bite of cloud kitchen operator Rebel Foods

Global private equity firm KKR is set to invest in cloud kitchen operator Rebel Foods, joining Singapore's Temasek on the company's cap table. Rebel Foods recently raised $210 million in a Series G funding round. KKR's investment will come through a secondary purchase of shares from existing investors, including Peak XV Partners and Coatue. Rebel Foods operates various internet-first brands, such as Faasos and Behrouz Biryani, and manages over 450 kitchens across more than 70 cities in India and internationally. The company plans to focus on in-house brands for growth and reduce losses.

Cloud kitchen operator Rebel Foods narrows losses by 40% in FY24 as topline grows

YourStory

YourStory · 12m ago

Cloud kitchen operator Rebel Foods narrows losses by 40% in FY24 as topline grows

Cloud kitchen operator Rebel Foods saw a 40% reduction in after-tax losses, narrowing it down to Rs 378 crore in the financial year ending FY24. The company, previously known as Faasos, reported a 19% increase in operating revenue to Rs 1,420 crore, with food sales accounting for 96.7% of its total revenues. Total expenses slightly rose due to finance costs and material consumption. Rebel Foods underwent downsizing operations in January 2023, letting go of 2% of its workforce. The company operates in multiple countries and competes with Curefoods, among others.

Temasek to acquire Rebel Foods stake for $180-200 million

Livemint

Livemint · 10m ago

Temasek to acquire Rebel Foods stake for $180-200 million

Singapore's Temasek Holdings is reportedly set to acquire a 20-25% stake, worth $180-200 million, in Rebel Foods, making it the largest shareholder of the cloud kitchen chain. The stake is being purchased from existing investors Coatue Management, Lightbox, and Peak XV. Rebel Foods, which operates popular cloud kitchen brands like Faasos and Behrouz Biryani, is planning an IPO within the next 12-18 months. The funding will be used to expand Rebel Foods' food court business, Eatsure. The company currently operates over 450 kitchens in more than 70 cities and has a portfolio of 45 brands across multiple countries.

CCI approves KKR’s proposal to acquire stake in cloud kitchen brand operator Rebel Foods | Company Business News

Livemint

Livemint · 8m ago

The Competition Commission of India (CCI) has given its approval to global investment firm KKR's plan to acquire a stake in Indian food-tech company Rebel Foods. KKR, through its affiliate Royce Asia Holdings II Pte, will acquire a stake in Rebel Foods, which operates popular brands like Faasos and Behrouz Biryani. The deal does not involve any horizontal overlaps or vertical/complementary links between the two companies' activities, and is being filed under the green channel route, which facilitates approval for transactions that do not pose competition risks. Rebel Foods was also reportedly in talks to raise additional funding from KKR.

Rebel Foods appoints cofounder Ankush Grover as CEO; replaces Jaydeep Barman - The Economic Times

Economic Times

Economic Times · 1m ago

Rebel Foods appoints cofounder Ankush Grover as CEO; replaces Jaydeep Barman - The Economic Times

Rebel Foods has appointed cofounder Ankush Grover as CEO, with Jaydeep Barman transitioning to chairman and group CEO. This leadership change occurs as the firm, backed by Temasek, restructures operations and refines focus ahead of a potential market debut. Grover, previously India CEO, will oversee core functions. Rebel Foods, valued at $1.4 billion, manages brands like Faasos and Behrouz Biryani, and aims to partner with restaurant brands earning over Rs 50 crore annually.

Rebel Foods enters Saudi Arabia; aims to build $100 million food delivery biz in 3 yrs

Economic Times

Economic Times · 2y ago

Rebel Foods enters Saudi Arabia; aims to build $100 million food delivery biz in 3 yrs

Home-grown food-tech company Rebel Foods, with brands like Faasos and Behrouz Biryani, on Monday announced its foray in Saudi Arabia and said it aims to become a $100 million food delivery business over the next three years.

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