With this, the startup becomes the first Indian foodtech startup to enter Saudi market
Rebel Foods is looking to build a $100 Mn food delivery business in the Saudi market in the next three years
The startup claims to operate 450+ dark kitchens across 70 cities in 10 nations
Cloud kitchen startup Rebel Foods has entered the Saudi Arabian market with the launch of two cloud kitchens in Riyadh.
Founded in 2011 by Jaydeep Barman and Kallol Banerjee, Rebel Foods is currently present in India, the UK, the UAE, Indonesia, Singapore, and Malaysia. The startup claims to operate 450+ dark kitchens across 70 cities in 10 nations. The startup is the parent company of brands including Faasos, Behrouz Biryani, Oven Story Pizza and more.
According to the startup, its focus on the Middle East Market has intensified with its debut in the market which makes it the first Indian foodtech startup to enter the Saudi market.
According to a Businessworld report, the startup is looking to build a $100 Mn food delivery business in the Saudi market in the next three years. For the same, it plans to launch 60 more stores in Riyadh. Additionally, it plans to expand across cities including Jeddah, Dammam, and Khobar.
For the kitchens, Rebel Foods has collaborated with Dubai-based KitchenPark and Kitch. For now, only The Messy Burger, Oven Story Pizza, Fricken’ Fried Chicken, and The 500 Calorie Project will be accessible to the people of the region. However, Mandarin Oak, Faasos, and Behrouz Biryani will also launch after a while.
Earlier this month, It granted employee stock ownership plans (ESOPs) to 5,000 employees of its 350-plus kitchens and corporate offices.
The unicorn raised $9.1 Mn in a debt funding round from Northern Arc and Stride Ventures, in April this year.
The startup is on an expansion spree both internally and externally. Recently, it announced that the total value of ESOPs held by the employees of Rebel Foods is $65 Mn.
Last year, Rebel Foods acquired majority stakes in luxury chocolate brand SMOOR. Though the deal amount remained undisclosed, SMOOR’s valuation reached $50 Mn after the fresh investment made by Rebel Foods.