Rebel Foods raised $9.1 million from Catalyst Trusteeship (Northern Arc) and Stride Ventures

Share via:

Cloud kitchen platform Rebel Foods raised $9.1 million in debt funding round from Catalyst Trusteeship (Northern Arc) and Stride Ventures.

According to regulatory filings, Rebel Foods issued 7,500 Series F non-convertible debentures to Catalyst Trusteeship and Stride Venture for INR 1 lakh each. Notably, Catalyst Trusteeship invested INR 25 crore in the startup, while Stride Venture invested INR 50 crore.

The news comes nearly three months after Rebel Foods laid off about 2% of its workforce as part of an annual performance evaluation and a reorganisation within the startup.

Rebel Foods, founded in 2011 by Jaydeep Barman and Kallol Banerjee, is a cloud kitchen platform that owns and operates a number of brands, including Faasos, Behrouz Biryani, Ovenstory Pizza, Mandarin Oak, and The Good Bowl.

The startup is currently present in India, the United Kingdom, the United Arab Emirates, Indonesia, Singapore, and Malaysia. It claims to run 450+ dark kitchens in 70 cities across ten countries.

It joined the coveted unicorn club in 2021 after raising $175 million in its Series F funding round at a valuation of $1.4 billion. Qatar Investment Authority, along with Coatue and Evolvence, led the round.

It received INR 55 Cr in debt funding from InnoVen Capital and Trifecta Capital in December of last year. Including this, the startup received INR 225 Cr in funding in 2022 alone.

Furthermore, in 2022, it paid an undisclosed sum for a majority stake in luxury chocolate brand SMOOR. The agreement was reached in order for Rebel Foods to strengthen its position as the “Thrasio of food.”

The unicorn also announced a $10 million ESOP liquidation deal for 150 current and former employees the same year, according to source.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Rebel Foods raised $9.1 million from Catalyst Trusteeship (Northern Arc) and Stride Ventures

Cloud kitchen platform Rebel Foods raised $9.1 million in debt funding round from Catalyst Trusteeship (Northern Arc) and Stride Ventures.

According to regulatory filings, Rebel Foods issued 7,500 Series F non-convertible debentures to Catalyst Trusteeship and Stride Venture for INR 1 lakh each. Notably, Catalyst Trusteeship invested INR 25 crore in the startup, while Stride Venture invested INR 50 crore.

The news comes nearly three months after Rebel Foods laid off about 2% of its workforce as part of an annual performance evaluation and a reorganisation within the startup.

Rebel Foods, founded in 2011 by Jaydeep Barman and Kallol Banerjee, is a cloud kitchen platform that owns and operates a number of brands, including Faasos, Behrouz Biryani, Ovenstory Pizza, Mandarin Oak, and The Good Bowl.

The startup is currently present in India, the United Kingdom, the United Arab Emirates, Indonesia, Singapore, and Malaysia. It claims to run 450+ dark kitchens in 70 cities across ten countries.

It joined the coveted unicorn club in 2021 after raising $175 million in its Series F funding round at a valuation of $1.4 billion. Qatar Investment Authority, along with Coatue and Evolvence, led the round.

It received INR 55 Cr in debt funding from InnoVen Capital and Trifecta Capital in December of last year. Including this, the startup received INR 225 Cr in funding in 2022 alone.

Furthermore, in 2022, it paid an undisclosed sum for a majority stake in luxury chocolate brand SMOOR. The agreement was reached in order for Rebel Foods to strengthen its position as the “Thrasio of food.”

The unicorn also announced a $10 million ESOP liquidation deal for 150 current and former employees the same year, according to source.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

https://pnndigital.com/business-news/samsung-to-consolidate-leadership-in-mid-premium-segment-with-launch-of-galaxy-a55-5g-galaxy-a35-in-india/

https://pnndigital.com/business-news/samsung-to-consolidate-leadership-in-mid-premium-segment-with-launch-of-galaxy-a55-5g-galaxy-a35-in-india/ Source link

Black founders are creating tailored ChatGPTs for a more...

At first, John Pasmore was excited about ChatGPT.  Source...

Evaluating Opportunities Within A Subscription Economy

SUMMARY Companies in a subscription economy rely on recurring...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!