Southeast Asia’s leading ride-hailing company Go-Jek has invested US$5 million in Indian cloud kitchen startup Rebel Foods, which is better known for its Faasos brand, says TechCirlce report, citing its filings with the government.
The fund infusion, done through Go-Jek’s investment arm Go-Ventures, is part of Mumbai-based company’s ongoing Series D round.
“This is an investment from Go Ventures and part of the Series D round we are raising. The other details of the round are yet to be finalised,” Rebel Foods Co-founder and CEO Jaydeep Barman said.
Started in 2010 as Faasos Food Services, the startup pivoted to Rebel Foods in 2018 to distinguish its wraps-and-meals brand Faasos as a separate one from its other brands Behrouz Biriyani and Oven Story. Since the pivot, the company has launched several brands under different categories such as biriyanis, pizzas and desserts. In the last two years, the company opened 1,100-plus internet restaurants in India across nine brands in 16 cities.
This is not the first investment by Go Ventures in India. In February, the VC firm led US$35.5 million round in Indian mobile gaming company Mobile Premier League (MPL).