Rebel Foods ditched traditional kitchens and still became a $1 billion food delivery giant

TeamCoreStory

4 months ago

Rebel Foods, the world’s largest cloud kitchen restaurant chain, has become a game-changer in the food delivery industry with its tech-driven approach. Founded in 2011 by Jaydeep Barman and Kallol Banerjee as Faasos, the company initially operated as a physical restaurant chain offering online ordering. However, as the food industry evolved, Rebel Foods made a pivotal shift in 2016, transitioning to a cloud kitchen-only model. This move allowed the company to optimize operations, reduce costs, and scale rapidly across global markets, reshaping the culinary landscape in Mumbai’s vibrant startup ecosystem and beyond.

From First Funding to a Billion-Dollar Valuation

Rebel Foods’ financial journey has been remarkable, with over $516 million raised across 22 funding rounds. Key milestones include:

October 2010: First funding round kickstarting the venture.
July 2021: Largest funding round, a $190 million Series F round.
October 2021: Achieved unicorn status with a $175 million Series F round led by the Qatar Investment Authority (QIA).
December 2024: Secured $210 million in a Series G round led by Temasek, with participation from Evolvence.

This influx of capital has enabled the company to expand its reach, strengthen its brand portfolio, and set ambitious growth plans.

A Multi-Brand Portfolio Catering to Every Palate

Rebel Foods operates an array of brands catering to diverse consumer preferences. These include:

Faasos – A popular brand that started the company in 2011
Behrouz Biryani – A popular brand owned by Rebel Foods
Oven Story Pizza – A popular brand owned by Rebel Foods
Mandarin Oak – A brand owned by Rebel Foods
Sweet Truth – A brand owned by Rebel Foods
LunchBox – A brand owned by Rebel Foods
The Good Bowl – A brand owned by Rebel Foods
Firangi Bake – A brand owned by Rebel Foods
The Biryani Life – A brand owned by Rebel Foods
Wendy’s – A US-based fast food giant owned by Rebel Foods
SLAY Coffee – A brand owned by Rebel Foods

This diversified brand strategy has solidified Rebel Foods’ position as a market leader, offering something for every food lover.

Financial Performance: Growth Amidst Challenges

Rebel Foods has demonstrated resilience and strategic cost management, reflected in its financials:

Revenue Growth: Operational revenue increased by 19% in FY24 to ₹1,420 crore from ₹1,195 crore in FY23.
Expense Management: Total expenses remained stable at ₹1,857 crore, compared to ₹1,827 crore in FY23.
Loss Reduction: Net losses decreased by 42%, dropping from ₹657 crore in FY23 to ₹378 crore in FY24.

These improvements highlight Rebel Foods’ focus on optimizing margins and achieving economies of scale.

The Road to IPO and Future Expansion

Looking ahead, Rebel Foods plans to go public by 2026, leveraging its strong market presence and continued investor backing. The company aims to further expand its global footprint, introduce new brands, and enhance technological innovations in the food delivery ecosystem.

With a bold vision and relentless execution, Rebel Foods continues to redefine how the world experiences food delivery, making it a brand to watch in the coming years.