Exclusive: Rebel Foods tops up Series F round with Rs 108 Cr

Faasos parent Rebel Foods has topped up its Series F round with $14.5 million. The company had recently scooped up $175 million in this round at a $1.4 billion valuation to become the first full-stack foodtech brand to enter the coveted club of unicorns this year.

Rebel Foods has passed a resolution to allot 10150 Series F preference shares at an issue price of Rs 106,058 to raise Rs 107.65 crore or $14.5 million, regulatory filings show. Mando Corporation has invested Rs 59.5 crore followed by Acernis Ventures and Alimco which have put in Rs 25.9 crore and Rs 22.3 crore respectively.

The Jaydeep Barman-led company owns homegrown brands such as Faasos, Behrouz Biryani and Ovenstory Pizza and claims to operate more than 45 brands across 10 countries including India, Indonesia, UAE, UK and Singapore. Rebel Foods gets more than 60% of its order volume from Swiggy and Zomato. 

Rebel Foods has made a couple of strategic investments as well to strengthen its portfolio of independent brands. In early October, it acquired a minority stake in Biryani Blues and most recently made an undisclosed investment in Hyderabad-based quick-service restaurant chain Zomoz.

On the lines of several companies of its age, the company is also eyeing an initial public offering (IPO) in the next 18-24 months. 

Rebel Foods counts Box8 as its direct competitor. As per media reports, Box8 is in talks with Tiger Global to mop up a $100 million round.