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Exclusive: Rebel Foods raises Rs 150 Cr debt from Alteria and InnoVen

EntrackrEntrackr · 2m ago
Exclusive: Rebel Foods raises Rs 150 Cr debt from Alteria and InnoVen
Medial

Exclusive: Rebel Foods raises Rs 150 Cr debt from Alteria and InnoVen Foodtech Unicorn Rebel Foods secured Rs 150 crore ($17 million) in debt funding from existing investors Alteria Capital and InnoVen Capital. The debt comes months after its $25 million funding from Qatar Investment Authority. According to its filing sourced from the Registrar of Companies (RoC), Rebel Foods’ board approved the allotment of 15,000 non-convertible debentures (NCDs) at a face value of Rs 1 lakh each to raise the above-mentioned amount. Alteria Capital invested Rs 90 crore ($10.2 million), while InnoVen Capital contributed Rs 60 crore ($6.8 million). Each debenture carries a coupon rate of 13.9% per annum with a tenure of three years, maturing on September 2, 2028. Rebel Foods declined to comment on the queries sent by Entrackr. Founded in 2011 as a quick-service restaurant, Rebel Foods has grown into one of the largest cloud kitchen operators, with over 450 kitchens across India, the MENA region, Indonesia, the UK, and 75 Indian cities. Its portfolio includes brands such as Faasos, Behrouz Biryani, Oven Story Pizza, Lunchbox, The Good Bowl, and Wendy’s, among others. In February this year, Rebel Foods announced that it had launched its 15-minute food delivery app, QuickiES. According to TheKredible, the Mumbai-based firm has raised approximately $780 million to date, including a $210 million Series G round led by Temasek, comprising a mix of primary and secondary stake. Rebel Foods’ revenue from operations grew to Rs 1,420 crore in FY24 as compared to Rs 1,195 crore in FY23. During the same period, the firm cut down its losses by over 42% to Rs 378 crore. It competes with Curefoods, EatClub, Biryani By Kilo, FreshMenu, Biryani Blues, Kitchens@, Bigspoon, and HOI Foods.

Ultrahuman raises Rs 100 Cr in debt from Alteria Capital

EntrackrEntrackr · 13d ago
Ultrahuman raises Rs 100 Cr in debt from Alteria Capital
Medial

Ultrahuman raises Rs 100 Cr in debt from Alteria Capital Ultrahuman has raised Rs 100 crore ($11.2 million) in venture debt from Alteria Capital, the company said in a statement. The Bengaluru-based wearable and health-tech firm will use the capital to expand its product stack, strengthen software-led revenue, and support its sports and research partnerships. Ultrahuman has raised over $71.2 million to date, including a $35 million Series B round led by Zomato founder and CEO Deepinder Goyal alongside existing backers. Nexus Ventures holds the largest external stake at 17.26%, followed by Blume Ventures, while co-founders Mohit Kumar and Vatsal Singhal jointly own 28.9% of the company. Ultrahuman generated Rs 565 crore in operating revenue in FY25, with the US contributing close to 60% of the total. The company reported a net profit of Rs 73 crore during the fiscal, compared to a loss of Rs 38 crore in FY24, supported by scale in the US market. In a recent interaction with Entrackr, Ultrahuman founder Mohit Kumar said the firm expects to more than double its revenue to around Rs 1,100 crore in FY26, based on its current annualised run rate (ARR). The fundraise comes at a time when Ultrahuman is dealing with a legal and regulatory challenge in the United States, its largest market. In May, Oura said Ultrahuman copied its smart ring design and patents, which led to a US order blocking Ultrahuman rings from entering the country. Ultrahuman has filed its own case in Delhi, saying Oura copied its sensor technology and health features. The company is also seeking confirmation on whether devices manufactured at its Texas facility would fall outside the scope of the import ban, which could determine the pace at which supply resumes.

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