Rebel Foods Raises $9.1 Mn Debt Funding From Catalyst Trusteeship, Stride Ventures
Unicorn cloud kitchen In a debt fundraising round, Catalyst Trusteeship (Northern Arc) and Stride Ventures contributed INR 75 Cr ($9.1 Mn) to Rebel Foods. According to regulatory papers, Catalyst Trusteeship and Stride Venture received 7,500 Series F non-convertible debentures from Rebel Foods at a price of INR 1 lakh each. Notable investments in the startup include INR 25 Cr from Catalyst Trusteeship and INR 50 Cr from Stride Venture.
The change occurs approximately three months after Rebel Foods cut about 2% of its personnel as a result of an internal reorganisation and yearly performance appraisal. Rebel Foods is a cloud kitchen platform that operates a number of businesses, including Faasos, Behrouz Biryani, Ovenstory Pizza, Mandarin Oak, and The Good Bowl, among others. It was started in 2011 by Jaydeep Barman and Kallol Banerjee.
Currently, the startup may be found in Malaysia, Singapore, Indonesia, the United Kingdom, and India. It asserts that it runs more than 450 dark kitchens in 70 cities and 10 countries. After receiving $175 Mn in its Series F fundraising round with a valuation of $1.4 Bn in 2021, it joined the exclusive unicorn club. Along with Coatue and Evolvence, Qatar Investment Authority led the round.
It received INR 55 Cr in debt capital from InnoVen Capital and Trifecta Capital in December of last year. Together with this, the business raised INR 225 Cr in financing in just 2022. Furthermore, for an undisclosed sum in 2022, it acquired the bulk of the shares in the upscale chocolate company SMOOR. Rebel Foods' attempt to solidify its status as the "Thrasio of food" led to the agreement being reached.
The unicorn launched a $10 Mn ESOP liquidation offer for 150 current and former employees that same year, according to Inc42. Its losses increased dramatically by 55% year over year (YoY) to INR 564.4 Cr in the financial year 2021–2022 from INR 364 Cr in the fiscal year (FY21). While its sales more than doubled to INR 907 Cr in FY22 from INR 436.5 Cr the year before (FY21).
The change occurs approximately three months after Rebel Foods cut about 2% of its personnel as a result of an internal reorganisation and yearly performance appraisal. Rebel Foods is a cloud kitchen platform that operates a number of businesses, including Faasos, Behrouz Biryani, Ovenstory Pizza, Mandarin Oak, and The Good Bowl, among others. It was started in 2011 by Jaydeep Barman and Kallol Banerjee.
Currently, the startup may be found in Malaysia, Singapore, Indonesia, the United Kingdom, and India. It asserts that it runs more than 450 dark kitchens in 70 cities and 10 countries. After receiving $175 Mn in its Series F fundraising round with a valuation of $1.4 Bn in 2021, it joined the exclusive unicorn club. Along with Coatue and Evolvence, Qatar Investment Authority led the round.
It received INR 55 Cr in debt capital from InnoVen Capital and Trifecta Capital in December of last year. Together with this, the business raised INR 225 Cr in financing in just 2022. Furthermore, for an undisclosed sum in 2022, it acquired the bulk of the shares in the upscale chocolate company SMOOR. Rebel Foods' attempt to solidify its status as the "Thrasio of food" led to the agreement being reached.
The unicorn launched a $10 Mn ESOP liquidation offer for 150 current and former employees that same year, according to Inc42. Its losses increased dramatically by 55% year over year (YoY) to INR 564.4 Cr in the financial year 2021–2022 from INR 364 Cr in the fiscal year (FY21). While its sales more than doubled to INR 907 Cr in FY22 from INR 436.5 Cr the year before (FY21).
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