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News on Medial
Kedaara portfolio firm Ajax plans IPO; Rebel Foods-backed Slay Coffee to exit cloud kitchens
VCCircle
·
1y ago
Medial
Kedaara Capital-backed Ajax Engineering is reportedly considering an IPO that could raise around $240 million. The concrete equipment maker is said to be working with advisers to file a prospectus by August and launch the IPO in the fourth quarter. In other news, Rebel Foods-backed Slay Coffee is planning to exit the cloud kitchen space.
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Related News
Rebel Foods has an IPO on the menu
Livemint
·
1y ago
Medial
Rebel Foods, the owner of popular brands like Faasos and Behrouz Biryani, is planning to become the first cloud kitchen business in India to go public. The company, backed by Peak XV, aims to file its IPO papers in the second half of this year and expects to list on exchanges in 2023. Rebel Foods operates over 450 kitchens across 70 cities in India and has a portfolio of over 45 brands. Despite facing losses in 2022-23, the company improved its margins during the same period.
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Temasek to acquire Rebel Foods stake for $180-200 million
Livemint
·
9m ago
Medial
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.
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Rebel Foods FY24: Net Loss Nearly Halves To INR 378 Cr
Inc42
·
11m ago
Medial
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.
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KKR to invest $50-75 mn in Rebel Foods at $860 mln valuation | Company Business News
Livemint
·
7m ago
Medial
Private equity firm KKR is set to acquire shares of Rebel Foods in a deal worth $50-75 million, valuing the startup at around $860 million. This comes shortly after Rebel Foods announced a $210 million funding round led by Temasek. The deal with KKR involves a secondary transaction, with existing investors Peak XV and Coatue selling some of their shares. The funding will help Rebel Foods expand its omnichannel presence and portfolio of brands. Rebel Foods currently operates over 450 cloud kitchens across multiple countries.
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Temasek leads $210 mn investment in Rebel Foods
VCCircle
·
7m ago
Medial
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.
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Rebel Foods raises $13 Mn debt
Entrackr
·
1y ago
Medial
Cloud kitchen brand Rebel Foods has raised Rs 110 crore ($13.2 million) in debt from Alteria and InnoVen Capital. This is the fifth debt funding for the parent company of EatSure (previously Faasos) after its last equity round in 2021. The board at Rebel Foods has passed a special resolution to issue 11,000 Series G1 non-convertible debentures at an issue price of Rs 1,00,000 per debenture to raise Rs 110 crore, regulatory filings with the Registrar of Companies (RoC) show. Orbis Trusteeship (through Alteria) has invested Rs 65 crore while Vistra ITCL ( via InnoVen Capital) pumped in Rs 45 crore during the debt round. The tenure of paying Series G1 debt is up to 01 May 2027. According to filings, each debenture issued in the debt round shall be entitled to the interest of 13.90% per annum. The interest shall be payable on a monthly basis. In April last year, it raised Rs 75 crore ($9 million) in debt from Catalyst Trusteeship (Northern Arc) and Stride Ventures. In 2022, the Mumbai-based firm received Rs 230 crore across three debt fundings. Rebel Foods operates food brands such as Faasos, Behrouz Biryani, Oven Story Pizza, Mandarin Oak, The Good Bowl, and Slay Coffee with more than 450 kitchens in over 70 cities. It has a portfolio of over 45 brands across multiple countries—India, United Arab Emirates (UAE), Saudi Arabia and the UK. The company is planning to take Oven Story Pizza offline and will open 250-300 outlets over the next two-three years. The Jaydeep Barman-led company entered the unicorn club after a $175 million Series F round led by Qatar Investment Authority in October 2021. The Peak XV-backed company raised its last equity round of $14.5 million in November 2021. Rebel Foods’s operating revenue surged to Rs Rs 1,258 crore in FY23 from Rs 856 crore in FY22. According to startup data intelligence platform TheKredible, its losses jumped to Rs 656 crore in FY23 from Rs 564 crore in the previous year. As per media reports, Rebel Foods is planning for an initial public offering (IPO) by 2025, making it the first firm from cloud kitchen space to list on the Indian stock exchange.
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Rebel Foods may spend ₹200 crore to expand cloud kitchens, food courts
Livemint
·
1y ago
Medial
Rebel Foods, the operator of multiple food brands including Faasos and Behrouz Biryani, plans to invest ₹100-200 crore to expand its dark kitchens and food court format EatSure. The company aims to open 100 stores and capitalise on the return of in-store dining as the pandemic subsides. Rebel Foods currently operates over 450 cloud kitchens in India, the Middle East, and other regions. It also runs outlets for fast-food chain Wendy's. The offline expansion comes as the company prepares for a potential stock market listing in 2026.
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KKR set to take a bite of cloud kitchen operator Rebel Foods
VCCircle
·
7m ago
Medial
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.
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Rebel Foods raises $25 Mn from QIA: Report
Entrackr
·
3m ago
Medial
Cloud kitchen company Rebel Foods, which is set for a public-market listing in 2025-26, has reportedly raised $25 million (about Rs 212.71 crore) from Qatar Investment Authority. Mint, which reported the development first, added that the company raised the capital at a valuation of $1.4 billion. The fresh funds will be used to expand its physical restaurants and food courts business. Rebel Foods declined to comment on the story. In December 2021, the firm announced its Series G funding round of $210 million, comprising a mix of primary and secondary share sales. It has raised $773 million to date from KKR, Temasek, Lightbox, Evolvence, and others. Rebel Foods currently claims to have over 450 cloud kitchens across India, MENA, Indonesia, UK, including 75 cities in India. Its major competition includes horizontal and vertical foodtech plays including Curefoods, EatClub, Biryani By Kilo, FreshMenu, Biryani Blues, Kitchens@, Bigspoon, and HOI Foods. In February this year, Rebel Foods announced that it has launched its 15-minute food delivery app, QuickiES. Rebel Foods’ revenue from operations grew to Rs 1,420 crore in FY24 as compared to Rs 1,195 crore in FY23. The company generates most of its revenue through its core operations (sale of food), contributing 96.7% of the total operating revenue in FY24. It is a full-stack food tech firm that makes money from the sale of food through its owned stores and kitchens.
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Rebel Foods flags slowdown in food delivery growth; bets on 15-minute offering
Economic Times
·
4m ago
Medial
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.
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