Rebel Foods to invest more in food services brands as part of expansion plans: Report

Internet restaurant company Rebel Foods, which runs cloud-based kitchen brands like Faasos, Ovenstory Pizza, Mandarin Oak, Behrouz Biryani and Slay Coffee, has revealed details about its expansion plans. The company plans to invest in more homegrown food services to expand its network of delivery kitchens. Raghav Joshi, co-founder of Rebel Foods stated in an exclusive interview to Mint, stated that the organisation is planning to invest in a brand that specialises in north Indian cuisine. Earlier this year, Rebel Foods had announced that it would invest $150 million to acquire and scale food brands in both India and abroad. Investment details: Talking about the investment announcement, Joshi stated that his company is not in a rush to spend $150 million and will look for brands that will fit in with its ability and desire to scale. “Investment is an outcome of various things, including customer experience, scalability, promoter vision, fit with the Rebel OS,” Joshi said, adding that it might take time. “Our investment thesis is that there are certain categories where we are strong; for example, biryani is a category where Behrouz and Biryani Blues are there. Then there are certain categories where we are not present,” Raghav Joshi asserted. He also listed out the areas where Rebel Foods did not have a presence- Indian sweets as well as north Indian and south Indian cuisines. “We have to be present in all the major categories where customers order in from,” the co-founder said. Rebel Foods has been expanding its presence across the country over the past few years. The company has opened up cloud kitchens in 80 cities in the past two years. Before the pandemic, it had a presence in only 35 cities. In April, it bought a majority stake in luxury chocolate brand Smoor. The company also has a minority stake in Biryani Blues and Hyderabad-based QSR chain Zomoz. Rebel Foods also has a stake in coffee startup-brand Slay. The company counts Sequoia Capital India, Goldman Sachs and Qatar Investment Authority among its backers. As per reports, Rebel Foods plans to expand to 100 cities by the end of 2023 and increase its global reach. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook , Twitter and Instagram .

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