Expect a Singaporean twist to the biryani.
In the world of culinary experiences, the lines between different brands are often blurred. Fasos, Behrouz Biryani, Oven Story Pizza, and Eat Sure are all brands that are well-loved across India. However, many might not know that all this delicious food comes from the same kitchen. This kitchen, owned by Rebel Foods, is now gearing up to incorporate a unique Singaporean twist into its offerings.
The Rise of Rebel Foods
Rebel Foods initially launched as a traditional restaurant business. However, it quickly identified that the future lay in cloud kitchens—an innovative model that allows brands to serve food without the overhead of a brick-and-mortar restaurant. In 2016, the founders, Kalol Banerjee and Jaydeep Barman, made a pivotal decision to pivot entirely to cloud kitchens, quickly emerging as leaders in this space. Their brands have become particularly popular on food delivery platforms like Zomato and Swiggy, where customers can savor a range of cuisines from the comfort of their homes.
New Investment from Singapore
Rebel Foods is on the brink of receiving a significant boost as it enters advanced negotiations for a major investment from Temasek, Singapore’s sovereign wealth fund. According to reports, Temasek is poised to invest between $1 billion to $1.5 billion (approximately ₹835 crore to ₹1,255 crore) into Rebel Foods, which could fuel its expansion and further innovations.
Details of the Investment Deal
In this investment deal, Rebel Foods plans to raise funds based on its previous valuation. Temasek is set to acquire some primary shares, while existing shareholders from Rebel Foods are also expected to sell a portion of their stakes to facilitate this transaction. This configuration indicates a secondary sale of shares alongside the primary investment.
Milestones of Rebel Foods
Rebel Foods reached a remarkable milestone in October 2021 by becoming a unicorn with a valuation of approximately $1.4 billion (around ₹11,500 crore) after securing $175 million (roughly ₹1,465 crore). Since then, the company has grown immensely, catering to a diverse audience with its multiple brands, each providing a unique flavor and experience.
Shareholding Structure of Rebel Foods
The shareholding structure of Rebel Foods reflects a diverse group of investors. The founders currently hold about 16.25% of the company. Other noteworthy stakeholders include:
| Investor | Stake (%) |
|---|---|
| Qatar Investment Authority | 7.90% |
| RTP Global | 3% |
| Sistema Asia Capital | 1.60% |
| Goldman Sachs | 3.40% |
| Coatue | 18.60% |
| Lightbox | 9.75% |
| Peak XV Partners | 28.30% |
This strategic investment and the strong shareholder structure set the stage for Rebel Foods to innovate further and introduce exciting new menu items, including the highly anticipated biryani with a Singaporean flair.
