Start-up behind Faasos, Wendy's, and SLAY secures funding from KKR
Rebel Foods, India's leading cloud kitchen start-up, has raised an undisclosed amount of funding from American global investment firm KKR (Kohlberg Kravis Roberts & Co.). The details of the deal have not been disclosed but as per the Hindu Business Line, KKR's investment could range between $60-75 million (₹510-₹637 crore). The funding is expected to help Rebel Foods expand in India and the Middle East and also diversify its food and beverage brand portfolio.
KKR's investment aligns with its Asia Next Generation Technology strategy
The investment in Rebel Foods is in line with KKR's Asia Next Generation Technology strategy, which focuses on supporting innovative and disruptive companies in the Asia Pacific region. The sectors targeted by this strategy include consumer technology, software, and FinTech. This marks KKR's latest venture into the Indian market under this strategic initiative.
Rebel Foods's CEO welcomes KKR as a strategic partner
Jaydeep Barman, co-founder and CEO of Rebel Foods, was pleased with the new partnership. He said, "We are happy to welcome KKR as a strategic partner in our journey." Barman added that this investment validates their progress toward building a robust platform, expanding their brand portfolio, enhancing their omnichannel presence, and achieving operational excellence on a global scale.
KKR acknowledges Rebel Foods's dominance in the market
Akshay Tanna, partner and head of India Private Equity at KKR, acknowledged Rebel Foods's position as a leading cloud kitchen operator and brand owner. He said, "We are pleased to invest in Rebel Foods, the largest cloud kitchen operator and brand owner, using technology to deliver a range of cuisines and culinary experiences to consumers." This recognition only highlights the start-up's importance in the food-tech industry.
Rebel Foods's growth and previous funding rounds
Founded in 2011, Rebel Foods runs brands such as Oven Story Pizza, Lunchbox, The Good Bowl, Sweet Truth, SLAY, Faasos, Behrouz Biryani, and Wendy's. The company operates over 450 kitchens across 10 countries. Earlier this month, Rebel Foods was reported to have raised $210 million in a Series G funding round. This latest investment from KKR comes after CCI approved Temasek Holdings's proposal to acquire stake in the company last month.
