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Rebel Foods-backer Lightbox returns a third of its second fund to investors

Livemint

Livemint · 5m ago

Rebel Foods-backer Lightbox returns a third of its second fund to investors

Lightbox has returned about a third of its $100 million second fund to investors after exiting cloud kitchen startup Rebel Foods and AI-edtech firm Embibe. With $450 million raised across three funds since 2014, Lightbox focuses on early-stage consumer businesses and plans a new $100 million continuation fund. Despite successes, challenges remain with some portfolio companies, emphasizing profitability as crucial, amid increasing investor interest in profitable ventures.

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VC firm Lightbox considers $100-mn continuation fund to back mature startups

Livemint

Livemint · 11m ago

VC firm Lightbox considers $100-mn continuation fund to back mature startups

Venture capital firm Lightbox is considering launching a continuation fund worth at least $100 million, aimed at supporting its mature portfolio companies like Rebel Foods, Zeno Health, Furlenco, and PayMate. The fund will provide an exit for limited partners while allowing Lightbox to remain invested in high-performing companies. It may also invest in startups such as Amaha, Rooter, and Cityflo. Continuation funds are gaining popularity in India, with several investors looking for liquidity options. The size of Lightbox's fund will depend on deal structures and it will focus on companies demonstrating a clear path to liquidity.

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

Livemint

Livemint · 8m 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.

Rebel Foods backer Alteria Capital closes third venture debt fund at $186 mn

VCCircle

VCCircle · 1y ago

Rebel Foods backer Alteria Capital closes third venture debt fund at $186 mn

Alteria Capital, a venture debt firm and backer of Rebel Foods, has closed its third venture debt fund at INR 1,550 crore (around $186 million). The fund, which surpassed its initial INR 1,000 crore target, will invest in venture capital-backed startups, providing up to INR 200 crore per company. Alteria Capital has also introduced a twin scheme strategy, comprising a venture debt scheme and a shorter duration scheme, with a final close expected by the end of 2024. The fund has already invested 50% of its capital commitments and currently has an AUM of INR 4,350 crore.

Temasek in talks for up to $150-million bite of Rebel Foods

Economic Times

Economic Times · 10m ago

Temasek in talks for up to $150-million bite of Rebel Foods

Singaporean sovereign fund Temasek is in advanced discussions to lead a $100-150 million investment in Rebel Foods, the parent company of cloud kitchen brands such as Faasos and Behrouz Biryani. The deal would involve a mix of primary and secondary share sales, with the Mumbai-based unicorn being valued at around $700 million. Existing investors, including Coatue and Lightbox, are expected to partially sell their stakes. Temasek, which plans to invest $10 billion in India over the next three years, has been actively investing in new-age firms and is one of the largest investors in Manipal Hospitals.

KKR to invest $50-75 mn in Rebel Foods at $860 mln valuation | Company Business News

Livemint

Livemint · 6m ago

KKR to invest $50-75 mn in Rebel Foods at $860 mln valuation | Company Business News

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.

Alteria Capital eyes up to $100 mn fundraise for Shorter Duration Fund

Livemint

Livemint · 1y ago

Alteria Capital eyes up to $100 mn fundraise for Shorter Duration Fund

Venture debt fund Alteria Capital plans to raise $80 million to $100 million for its Shorter Duration Scheme. The scheme aims to provide working capital solutions to startups in sectors like fintech, consumer, and B2B platforms. Alteria's third fund consists of two schemes, with the shorter duration scheme targeting a 13-14% return for investors. The fund has been instrumental in backing early and growth-stage startups in India and has a portfolio that includes names like Rebel Foods and BharatPe.

Rebel Foods raises $25 Mn from QIA: Report

Entrackr

Entrackr · 2m ago

Rebel Foods raises $25 Mn from QIA: Report

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.

Rebel Foods backer Evolvence India nears target for fourth PE fund

VCCircle

VCCircle · 1y ago

Rebel Foods backer Evolvence India nears target for fourth PE fund

Private equity firm Evolvence India, known for backing companies like Rebel Foods and Dunzo, is close to reaching its target for its fourth PE fund. The firm, which previously raised around $200 million for its third private equity fund, is expected to secure a significant amount for its latest fund. Evolvence India has a strong track record of investing in promising businesses across diverse sectors.

Rebel Foods launches 15-min food delivery app ‘QuickiES’

Entrackr

Entrackr · 4m ago

Rebel Foods launches 15-min food delivery app ‘QuickiES’

Rebel Foods launches 15-min food delivery app ‘QuickiES’ Cloud kitchen unicorn Rebel Foods is making a foray into the 15-minute food delivery segment to compete with foodtech giants like Zomato and Swiggy. In a LinkedIn post, EatSure co-founder and CEO Sagar Kochhar announced that Rebel Foods has launched its 15-minute food delivery app, QuickiES. Co-founded in 2011 by Jaydeep Barman and Kallol Banerjee, Rebel Foods operates a network of cloud kitchens and restaurants across multiple countries. It owns and operates several quick-service restaurant (QSR) brands, including Behrouz Biryani, Mandarin Oak, Oven Story Pizza, Sweet Truth, LunchBox, The Good Bowl, Firangi Bake, The Biryani Life, and Wendy’s. Rebel Foods claims to operate over 450 cloud kitchens across India, the MENA region, Indonesia, the UK, and 75 Indian cities. In FY24, the company’s revenue from operations increased to Rs 1,420 crore, while its losses narrowed by more than 42% to Rs 378 crore during the same period. The Mumbai-based startup has raised $773 million in funding to date from investors such as KKR, Temasek, Lightbox, Evolvence, and others. The instant food delivery market is becoming increasingly competitive, with Zepto launching a dedicated app for Zepto Cafe, promising 10-minute food deliveries. Meanwhile, Zomato-owned Blinkit has introduced Bistro, a standalone app for instant food delivery. Similarly, Swiggy has launched a standalone app, SNACC, for 15-minute food delivery. Zomato has also entered the quick food delivery segment, while emerging platforms like Swish, Magicpin, and Zing are gaining momentum.

ZFunds, WickedGud get funding; LTIMindtree bets on Voicing.AI

VCCircle

VCCircle · 6m ago

ZFunds, WickedGud get funding; LTIMindtree bets on Voicing.AI

Bijnis, CityMall backer WaterBridge plans third VC fund with higher corpus Premium (From left) WaterBridge partners Manish Kheterpal, Anjali Sosale and Ashish Jain Homegrown venture capital firm WaterBridge Ventures is gearing up to start raising its third fund that will be bigger than its second vehicle, a person familiar with the matter told VCCircle. The early-stage investor, known for backing startups such as Unacademy, Magicpin, Bijnis and CityMall, plans to raise a third fund ......

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