Startups

Foodtech unicorn Rebel Foods raises $6.6M in debt from existing investors


Pune-based food tech startup Rebel Foods has raised Rs 55 crore or $6.6 million in a debt funding round led by existing investors InnoVen Capital and Trifecta Capital.

Rebel Foods’ board has approved a special resolution to allot 5,500 Series E non-convertible debentures at an issue price of Rs 1,00,000 per debenture to raise Rs 55 crore, according to an Entrackr report.

The development comes two months after it raised $12.5 million in debt from the same investors. Both Innoven and Trifecta invested Rs 50 crore each in the previous round.

Rebel Foods turned unicorn in October last year after raising $175 million in a Series F round from Qatar Investment Authority (QIA) and existing investors Coatue and Evolvence. The Series F round valued the startup at $1.4 billion.

Founded in 2011 by Jaydeep Barman and Kallol Banerjee, Rebel Foods claims to have 4,000 cloud kitchens across 45 brands, including Behrouz Biryani, Faasos, and Ovenstory Pizza. It operates in India, the UAE, Indonesia, the UK, Singapore, Malaysia, Thailand, Hong Kong, and Bangladesh, among others.

Also Read:

Follow IndianStartupNews on Facebook, Instagram, Twitter for the latest updates from the startup ecosystem.





Source link

Related posts

Whoops! Is generative AI already becoming a bubble?

Sarah Villa

Honasa Consumer To Focus On Driving Up Revenue From Offline Channels

Sarah Villa

Venom Foundation And Iceberg Capital Launch $1B Web3 Venture Fund

Sarah Villa

Healtech startup Innovaccer lays off 15% employees amid structural rejig

Sarah Villa

Insurtech start-up Zopper raises $75 million in series C funding

Sarah Villa

Zee-Sony merger wins CCI approval with modifications

Sarah Villa

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More