Faasos News

Rebel Foods grew from its earlier avatar ‘Faasos’ to a multi-brand food firm which currently houses more than 15 brands such as Behrouz Biryani, Oven Story Pizza, Sweet Truth, Slay Everyday, Firangi Bake, Mandarin Oak, and others

Rebel Foods runs 325 internet kitchens in India and has recently expanded abroad, with operations in Indonesia, Dubai and the UKIt is currently valued at about $500 million, having last raised $120 million in equity in 2019

A large portion of its expenditure for FY19 was reported under the other expenses category Rebel Foods has been in the news for receiving investor attention from multiple new names

Travis Kalanick is likely to make the investment from City Storage Systems, the holding company of CloudKitchensThe investment is part of Rebel’s $125 million funding round, which is led by US-based technology hedge fund Coatue Management

Deal will mark New York-based hedge fund’s second Indian investment after SwiggyNew York-based hedge fund Coatue plans to invest $100 million in the latest funding round

Rebel Foods, which owns Faasos, seeks to raise funds at a valuation of $350-400 mnRebel Foods plans to use the funds to expand its network of kitchens from the existing 200 to 500

Lightbox Ventures, which has so far backed startups such as Furlenco and Faasos, plans to increase its focus on consumer businesses in 2019, after raising its $200 million third fund this year, says founder Sandeep Murthy

While Zomato has announced purchase of drone startup TechEagle, Swiggy is in early talks with several companies for possible acquisitions

The FSSAI had asked these companies in July to stop using edibles supplied by non-licensed operators after it received consumer complaints of sub-standard food being served through these platforms

Online food delivery start-up Swiggy’s financing program will provide collateral-free loans without initial deposits to its restaurant partners