Rebel Foods gets ₹110 cr on plate

Cloud kitchen platform Rebel Foods, formerly known as Faasos, has raised Rs 110 crore in funding from existing investors Sequoia Capital India, Lightbox Ventures and Evolvence India as part of its Series-D1round, regulatory documents sourced from business intelligence platform paper.VC show.

The investment comes ahead of a $75-100-million funding round for which Rebel Foods has held talks with investors such as Multiples Alternative Asset Management, Temasek, Goldman Sachs, Falcon Edge, and Canadian Pension Plan Investment Board, as ET had reported in February.

The new round is expected to value the company at $400 million. “Rebel Foods seems to have stitched together a much larger round at a higher valuation in which existing investors might not want to take part,” said Vivek Durai, co-founder of paper.vc.

“This round is an upside for existing backers who have increased their stake in the company at a lower valuation,” he said. Rebel Foods is in the market to raise fresh funds at a time when the food tech sector in India is attracting massive investment.

Source:-https://retail.economictimes.indiatimes.com/news/food-entertainment/food-services/rebel-foods-gets-110-cr-on-plate/68404128