Owners of Faasos, Mumbai-based Rebel Foods, are in talks with a number of investors to raise funds which could value the company at $400 million. According to Rebel Foods, existing investors Lightbox Venture and Sequoia Capital will invest $20 million while Goldman Sachs, Canadian Pension Plan Investment Board, and Temasek are the other potential investors that will help the company raise $75-$100 million in a fresh round of funding.
With the food-delivery sector picking up pace over the last few years, Rebel Foods has earned a revenue of Rs.320 crore, a 120% hike in revenue as compared to the same period the previous year. With the cloud kitchen concept proving to be more profitable than regular brick and mortar restaurants and food-delivery companies, Rebel Foods is looking to capitalise on its recent success and expand its brand to other parts of the country and move its business internationally to countries such as Thailand, Indonesia, Vietnam, the United Kingdom, and UAE.
Source: Economic Times