Rebel Foods raises $25M fund from QIA before IPO

140

Rebel Foods raises fund in a strategic pre-IPO round by securing $25 million (INR 212.71 crore) from Qatar Investment Authority (QIA). This development has come at a critical point as the Indian cloud kitchen giant eyes a public listing by 2025-26. The funding round, reportedly closed at a valuation of $1.4 billion, highlights the increasing investor confidence in the startup’s scalable business model and omnichannel ambitions.

Founded in 2011 by Kallol Banerjee and Jaydeep Barman, Rebel Foods started with Faasos as its single-brand, delivery-only venture. Over time, it transformed into a multi-brand quick service restaurant (QSR) powerhouse operating brands like Behrouz Biryani, Oven Story Pizza, The Good Bowl, and more. With over 350 kitchens in 70 cities, serving around 2.5 lakh orders daily, Rebel Foods stands as a prominent player in India’s fast-evolving foodtech space.

The latest funding will fuel its next phase of growth—physical restaurant and food court expansions. The brand’s strategic pivot from digital-only to an omnichannel format will help it stay competitive against upcoming cloud kitchen startups and quick commerce players. The goal is not just to serve food faster but to also build real-world brand presence that drives long-term value.

The investment comes just after the startup launched QuickiES, its 15-minute delivery brand, and expanded internationally with kitchens in the UK and UAE. The company’s roadmap aligns with current venture capital trends where growth-stage startups aim for profitability alongside expansion.

As the startup gears up for its IPO, Rebel Foods continues attracting significant funding from marquee investors such as KKR, Temasek, Lightbox, and Evolvence. This new round by QIA not only solidifies its financial standing but also signals broader investor appetite for India’s foodtech and cloud kitchen revolution.

1. Understanding Rebel Foods: A New-Age Foodtech Pioneer

1.1 Founders and Their Vision

Kallol Banerjee and Jaydeep Barman, both business visionaries with international exposure, founded Rebel Foods in 2011. They began their journey with Faasos, a simple food delivery brand focused on wraps and rolls. Over the years, they transformed this idea into a full-fledged foodtech ecosystem.

1.2 Working and Revenue Model

Rebel Foods operates on a full-stack cloud kitchen model. It owns the kitchen infrastructure, manages operations, and controls end-to-end delivery. By doing this, it ensures quality, consistency, and scalability. Revenue comes from food orders across platforms like Zomato, Swiggy, its own app, and now, its dine-in restaurants.

1.3 Brand Portfolio and Services

Today, Rebel Foods owns more than ten QSR brands. These include Behrouz Biryani, Mandarin Oak, Oven Story, Firangi Bake, Wendy’s India, and more. Their portfolio caters to Indian, Chinese, Italian, and fusion tastes. The services range from home delivery, takeaways, and now dine-in options in food courts and standalone outlets.

2. Rebel Foods Raises Fund: Strategic Investment from QIA

2.1 The Funding Round Details

According to Mint, Rebel Foods secured $25 million from QIA at a valuation of $1.4 billion. The deal indicates investor trust in the cloud kitchen’s robust growth and transition towards omnichannel delivery. This isn’t just capital; it’s a commitment to long-term scaling.

2.2 Expansion Focus: Physical Restaurants & Food Courts

With the new funds, Rebel aims to open flagship restaurants and food courts. This move adds a fresh offline dimension to its primarily online-first model. The omnichannel approach is designed to beat rising competition from both new-age cloud kitchens and quick commerce entrants.

2.3 QuickiES: Entry Into 15-Minute Food Delivery

In February, Rebel launched QuickiES, marking its foray into ultra-fast food delivery. The service is aimed at urban users demanding speed and taste. It’s a strategic shift, aligning the startup with other disruptive tech startups making waves in foodtech.

3. Funding Journey and Investor Backing

3.1 Previous Investors and Total Raised Capital

Before this QIA-led round, Rebel Foods had raised $773 million in total. Some of its major backers include KKR, Temasek, Evolvence, and Lightbox. These investors bring both credibility and strategic guidance.

3.2 The $1.4 Billion Valuation Signal

The valuation shows strong market belief in Rebel’s long-term growth. At $1.4 billion, Rebel joins the elite club of unicorn startups India continues to produce. This shows the viability of cloud kitchen businesses when executed at scale.

4. Scale, Reach, and Global Ambition

4.1 National and International Footprint

Rebel Foods currently operates 350+ kitchens across 70 cities in India. It also runs over 15 kitchens in Dubai and around a dozen in the UK. This global footprint highlights its ambition to become a global foodtech leader.

4.2 Human Capital and Operational Depth

The startup employs 8,000 to 9,000 people. These employees span tech, culinary, logistics, and operations. It is among the few startups in India to have successfully scaled both human capital and digital infrastructure together.

5. Industry Context: Cloud Kitchens and Quick Commerce

5.1 Competitive Landscape and Trends

India’s foodtech sector is rapidly evolving. While cloud kitchens initially led the game, quick commerce startups like Zepto and Blinkit are now pushing into the ready-to-eat space. Rebel’s omnichannel pivot helps it stand tall amid these waves.

5.2 Strategic Differentiation

What sets Rebel apart is brand diversity and complete control over supply chains. Its ability to operate multiple cuisine-specific brands under one tech-enabled umbrella offers it significant operational leverage.

6. Learning for Startups and Entrepreneurs

6.1 Think Beyond Digital

Startups should understand the limits of digital-only models. Rebel’s move to offline formats shows how real-world brand presence still matters.

6.2 Scale with Process, Not Just Money

The success lies in execution. Even after raising large funds, Rebel scaled only after building strong processes, teams, and operational depth.

6.3 Omnichannel is the Future

Entrepreneurs in consumer businesses should explore omnichannel models. This ensures relevance across platforms and touchpoints.

About The Startups News

When it comes to covering the foodtech industry with precision, depth, and timely updates, The Startups News is India’s go-to source. From reporting how Rebel Foods raises fund to tracking daily tech news and venture capital trends, our platform delivers unmatched insights for entrepreneurs and startup enthusiasts. Whether you’re scouting for the best startup ideas or tracking innovation updates, we bring startup ecosystem growth stories to life with data-backed journalism.