Rebel Foods IPO: This online restaurant company that operates Behrouz Biryani, Mandarin Oak, Ovenstory Pizza, Faasos plans public listing in 18-24 months

Rebel Foods IPO: This online restaurant company that operates Behrouz Biryani, Mandarin Oak, Ovenstory Pizza, Faasos plans public listing in 18-24 months

Rebel Foods, which operates a system of cloud kitchen area brands such as for instance Behrouz Biryani, Mandarin Oak, Ovenstory Pizza, and Faasos, is preparing a listing that is public the united states in 18-24 months.

Rebel Foods plans to expand its geographic existence beyond Asia, UK, UAE, and Indonesia to areas such as for instance Saudi Arabia, Qatar, and Bahrain.

Rebel Foods, which runs a system of cloud kitchen area brands such as for instance Behrouz Biryani, Mandarin Oak Ovenstory Pizza, and Faasos, is arranging a general public listing in the united states in 18-24 months, even while it intends to expand into more recent areas in Asia & the center East, its co-founder and CEO Jaydeep Barman told Moneycontrol.

Rebel Foods: From QSR to Cloud kitchen

Created by Jaydeep Barman and Kallol Banerjee, Rebel meals started off as Faasos, a string of quick-service restaurants (QSR) that offered kebab rolls, with an online ordering choice. High rentals coupled aided by the understanding that a lot of their purchases had been from the online channel forced a rethink regarding the continuing enterprize model. They shuttered outlets and pivoted to a cloud-kitchen only business in 2016, delivering a variety of cuisines from kitchens running in areas which had reduced rents.

It is currently one of several biggest internet restaurant businesses with more than a dozen brands that provide biryani to Chinese to pizza to wraps to sweets, through meals delivery platforms such as for example Zomato and Swiggy, aside from unique apps. It counts Sequoia Capital Asia, Lightbox ventures, Coatue, Goldman Sachs, Gojek, and Uber founder Travis Kalanick as investors and ended up being respected at over $800 million in its final round of financing in 2020.

Rebel Foods: Asia’s next unicorn?

Relevant tales

Its next round of money will catapult Rebel meals in to the unicorn club. “the final round ended up being definitely near that we will be a unicorn (privately funded firm valued at a billion dollars and more), otherwise we are not doing a good job so I would expect. Our company is more dedicated to an IPO in 1 . 5 years. We are increasing a round that is private on occasion but there is nothing finalized yet,” Barman stated.

“Our company is waiting around for some clarifications on national laws in the direct international listing. If which comes through, we shall record on NYSE or Nasdaq, otherwise, we shall list in Asia.”

Rebel Foods CEO Jaydeep Barman

Rebel’s international aspirations

In addition it intends to expand its geographic existence beyond India, UK, UAE, and Indonesia to areas such as for instance Saudi Arabia, Qatar, and Bahrain. Within the last few 2 months, this has i thought about this exposed kitchens in Malaysia, Singapore, and Bangladesh. Aside from its very own kitchen areas, Rebel can be starting its cloud kitchen platform for third-party brands such as for example Wendy’s, Naturals ice cream, and Anand Sweets.

“Our company is wanting to connect every space- from single-serve to group offer, from value to luxury. We are going to introduce a curries that are indian and an extravagance dishes brand. For Wendy’s, we’re going to include 300 kitchen areas for them by the final end of 2022.”

Exactly just How Asia consumes

Within Asia, it really is doubling straight down on smaller urban centers which can be using to ordering food online in a huge method. The wave that is second of pandemic appears to have accelerated the trend, as folks have less choices for activity and indulgence.

“we now have exposed in 20 Tier-2 metropolitan areas and these have cultivated extremely fast within the big metros, while we are seeing need in Mumbai and Delhi-NCR, Bengaluru isn’t growing up to numerous computer computer computer software designers went back again to their hometowns.”

As opposed to the initial wave, when Rebel needed to shutter its 70 % of its kitchen areas for two months in 2020, these times, its company is thriving as folks are comfortable buying food online, with state governments too permitting this as a service that is essential.

“Our company is now most likely 30-40 % above pre-COVID-19 amounts. Something that is indulgent does well- such as Biryani, pizza, or dessert. Individuals require one thing good within their life.”

Worker effect

Barman said Rebel has set up an insurance plan to reimburse all employee claims pertaining to COVID-19- be it procuring air cylinders, vaccination, or medications.

“People should be in a place that is good. It requires care of the psychological anxiety,” he stated.