Indian Cloud Kitchen Startup Valued at $1.4 billion
Rebel Foods, which operates a large network of dark kitchens in nearly a dozen markets, is the latest Indian startup to attain the unicorn status.
The 10-year-old Indian startup said on Thursday it has raised $175 million in its Series F financing round that valued it at $1.4 billion, up from about $800 million last year. Qatar Investment Authority, sovereign wealth fund of the State of Qatar, led the financing round with participation from existing investors Coatue and Evolvence. Rebel Foods also counts Sequoia Capital India and Goldman Sachs among its investors.
Rebel Foods is the third Indian startup to become a unicorn this week, and 31st to become a unicorn this year as scores of high-profile investors including Tiger Global, SoftBank, Sequoia, Temasek aggressively double down on their bets to back young firms in the world’s second largest internet market