Cloud kitchen giant Rebel Foods has secured $13 million in debt funding from leading investors Alteria and InnoVen Capital. This marks the company’s fifth debt financing round following its last equity round in 2021.
As per regulatory filings with the Registrar of Companies (RoC), Rebel Foods’ board has greenlit a special resolution to issue 11,000 Series G1 non-convertible debentures at an issue price of Rs 1,00,000 each, raising Rs 110 crore. The debentures will accrue interest at an annual rate of 13.90%, with monthly interest payments scheduled accordingly.
Rebel Foods plans to utilize the funds to bolster its expansion efforts, particularly focusing on closing Oven Story Pizza outlets and launching 250–300 new locations within the next two to three years.
With a presence in over 70 locations and more than 450 kitchens, Rebel Foods operates a diverse portfolio of food brands, including Behrouz Biryani, Mandarin Oak, Oven Story Pizza, Faasos, and Slay Coffee. Its expansive portfolio encompasses over 45 brands spanning across Saudi Arabia, the UK, India, and the United Arab Emirates (UAE).
Established in 2011 by Jaydeep Barman and Kallol Banerjee, Rebel Foods, formerly known as Faasos, stands as the world’s largest chain of online restaurants, pioneering the cloud kitchen model in the global culinary landscape.
