Indian cloud-kitchen brand Rebel Foods raised Rs 55 crore in a debt investment round led by InnoVen Capital and Trifecta Capital. InnoVen infused Rs 30 crore, whereas Trifecta invested Rs 25 crore, Entrackr Reported.
This has been the third debt fundraising for the company this year. It bagged Rs 225 crore in debt capital in 2022.
In November 2021, it bagged $14.5 million as a top-up in a Series F funding round.
The RoC filings revealed that the administrative board passed a special resolution to issue 5,500 series E non-convertible debentures to raise the entire amount.
Prior to this, it raised Rs 100 crore from the same investors. Both companies invested Rs 50 crore jointly. In September, it raised Rs 75 crore from Alteria Capital.
Rebel Foods claims to have 4,000 cloud kitchens across countries like Singapore, Malaysia, the United Kingdom and the UAE. It runs multiple food chains including FAASOS, Behrouz Biryani and Ovenstory.
It stepped into the unicorn club after raising $175 million in a Series F funding round led by Qatar Investment Authority in October 2021.
After the latest funding round, the company announced a $10 million ESOP ( employee stock ownership plan) to its current and ex-employees.
In the financial year (FY) 2022, it witnessed a 2.1x in revenues to Rs 859 crore from Rs 406 crore in the previous financial year. It registered a 54.9 per cent surge in its net losses.
Recently it invested an undisclosed amount in Hyderabad-based Zomoz.