Rebel Foods, the Mumbai-based cloud kitchen startup known for its popular brands such as Faasos, Oven Story, and Behrouz Biryani, is reportedly in discussions to raise $120 million in a new funding round, according to sources familiar with the matter. The funding round, which is anticipated to be led by Singapore’s Temasek, would mark a significant event in the Indian startup ecosystem, highlighting the ongoing investor interest in high-growth companies.
The planned funding will be split between primary and secondary investments, with approximately $60 million allocated to primary capital and the remainder to secondary transactions. In a primary investment, funds are injected directly into the company’s operations, whereas secondary transactions involve the transfer of existing shares between investors without affecting the company’s cash reserves.
Rebel Foods is reportedly raising capital at a blended valuation of around $1 billion. This valuation combines the company’s market value during the primary investment with the valuation of secondary share transactions, reflecting a comprehensive assessment of its worth. The company is also noted to have a separate valuation of approximately $1.3 billion in relation to the primary capital being raised.
This potential funding round follows a similar large-scale capital raise three years ago. In July 2021, Rebel Foods closed a major funding round exceeding $100 million, achieving a valuation of $1 billion and entering the unicorn club. The current round, if completed as planned, will continue this trend, underscoring Rebel Foods’ robust growth trajectory and its appeal to investors.
While official statements have not confirmed the specifics of the ongoing discussions, Rebel Foods has acknowledged that it is exploring funding options and evaluating potential strategic partnerships as it advances through its next growth phase.
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