Cloud kitchen brand Rebel Foods has raised $175 million in its Series F round led by Qatar Investment Authority. Existing investors Coatue and Evolvence have also participated in this financing round. The startup has secured this investment at a valuation of $1.4 billion. With this financing round, Rebel Foods joins the prestigious Unicorn Club.
Rebel Foods said in a press statement that this new investment will be used to reinvest in building technology, growing a global presence and acquiring new brands. According to the company, it is also working towards bringing an IPO in the next 18-24 months. It will join the ranks of Urban Company, Droom and others that are considering a public listing in a similar time frame.
Rebel Foods has become the first unicorn from the food-tech space and the 31st unicorn of the year. The company sells through online ordering platforms Swiggy and Zomato in addition to its own app EatSure. According to a leading web portal report, more than two-thirds of its volume comes from these two aggregators.
Rebel Foods claims that it operates more than 45 brands in India, Indonesia, United Arab Emirates, United Kingdom, Singapore, Malaysia, Thailand, Hong Kong, Philippines and Bangladesh. The company has claimed 100% YoY growth and profitability with an annual run rate of $150 million.