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Rebel Foods targets $1bn valuation
BENGALURU: Rebel Foods , which runs cloud kitchens like Faasos Oven Story Pizza and Behrouz Biryani, is eyeing a valuation of about $1 billion as it looks to mop up new round of funding of $100-150 million.
SoftBank had also held discussions with Rebel last year, but these did not fructify as its portfolio company Oyo was also making an aggressive push in the category.
Although recently, Oyo has been cutting costs and has laid off significant staff in its kitchens business, according to reports.An emailed query to Rebel Foods CEO Jaydeep Barman and Coatue did not elicit a response till the time of going to press.
A SoftBank spokesperson “declined to comment on market speculation”.What is attracting global interest in the category is the increasing spends on home delivery with the proliferation of online food delivery applications.
The company is expected to close the year ending March 2020 with total revenues of Rs 600-650 crore and is currently doing monthly revenues of Rs 75 crore, according to two sources mentioned earlier. | To read full story, visit https://startuparound.com/read/1581312709.7731607/Rebel-Foods-targets-$1bn-valuation?ref=audio_experience
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By Startup AroundBENGALURU: Rebel Foods , which runs cloud kitchens like Faasos Oven Story Pizza and Behrouz Biryani, is eyeing a valuation of about $1 billion as it looks to mop up new round of funding of $100-150 million.
SoftBank had also held discussions with Rebel last year, but these did not fructify as its portfolio company Oyo was also making an aggressive push in the category.
Although recently, Oyo has been cutting costs and has laid off significant staff in its kitchens business, according to reports.An emailed query to Rebel Foods CEO Jaydeep Barman and Coatue did not elicit a response till the time of going to press.
A SoftBank spokesperson “declined to comment on market speculation”.What is attracting global interest in the category is the increasing spends on home delivery with the proliferation of online food delivery applications.
The company is expected to close the year ending March 2020 with total revenues of Rs 600-650 crore and is currently doing monthly revenues of Rs 75 crore, according to two sources mentioned earlier. | To read full story, visit https://startuparound.com/read/1581312709.7731607/Rebel-Foods-targets-$1bn-valuation?ref=audio_experience