Rebel Foods raises $175m funding
Investment was led by QIA with participation from existing investors
Rebel Foods, the world’s largest internet restaurant company, announced that it has raised $175 million (Dh642m) in a Series F round led by Qatar Investment Authority (QIA), sovereign wealth fund of the State of Qatar with participation from existing investors Coatue and Evolvence. This round catapults the company to a unicorn status with a valuation of $1.4 billion.
Rebel Foods operates the largest number of internet restaurants worldwide and on this network, it has built 45+ brands (own + partners) across 10 countries — India, Indonesia, United Arab Emirates, United Kingdom, Singapore, Malaysia, Thailand, Hong Kong, Philippines and Bangladesh, and operates 4,000+ internet restaurants.
The company has disrupted a century-old industry of traditional restaurant business, by building a fullstack technology-enabled platform — Rebel Operating System, thereby catering to multiple food missions. With the influx of fresh funding, Rebel Foods will continue to focus on growing their international footprint, technology and brand acquisitions. This latest fund-raising will allow Rebel to deliver on its vision of bringing the highest quality brands across food missions to customers globally.
Global presence
Speaking of the funding, Ravi Golani, Chief Strategy Officer, Rebel Foods says, “The food-tech space has evolved towards better personalisation, innovation, and complete transparency which Rebel Foods continues to pioneer. We are excited to welcome QIA, which has a track record of being a long-term supportive investor. With this round of funding, we will continue to serve newer customer food missions powered by technology and automation.”
Piyush Kakkad, Chief Financial Officer, Rebel Foods adds, “While we are excited about becoming the next unicorn, our focus continues to remain on improving customer experience the Rebel way. This round of funding will be reinvested in building our technology, increasing our global presence and also acquiring new brands.