Cloud Kitchen Startup Rebel Foods Bags $9.1 M From Northern Arc, Stride, Others
This funding is expected to aid the company’s expansion plans and improve its operations, ultimately increasing its market share
Photo Credit : cloudfront.net,
Rebel Foods, a cloud kitchen startup, has recently raised Rs 75 crore ($9.1 million) in debt funding from investors Northern Arc and Stride Ventures, marking its fourth round of debt financing. Last December, the company raised Rs 55 crore ($6.6 million) from Innoven Capital and Trifecta Capital. Prior to that, it secured Rs 100 crore ($12.2 million) from the same investors. Overall, Rebel has raised over Rs 4,200 crore ($513 million) in a combination of equity and debt funding to date. This funding is expected to aid the company’s expansion plans and improve its operations, ultimately increasing its market share in the competitive food delivery industry.
Rebel Foods has recently secured Rs 100 crore ($12.2 million) in debt funding from investors Northern Arc and Stride Ventures, with Northern Arc investing Rs 25 crore and Stride Ventures investing Rs 75 crore, according to filings with the Ministry of Corporate Affairs. Typically, companies raise debt financing when they are expanding quickly and experiencing cash burn. The funding may be utilized by Rebel to support its working capital requirements, as cloud kitchen businesses can be cash-intensive. Earlier this year, Rebel was among several internet-based companies that reduced their workforce to reduce costs in response to the challenging macroeconomic environment. This funding is expected to assist Rebel’s expansion plans and increase its market share in the highly competitive food delivery sector.
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