Rebel Foods targets $1bn valuation

BENGALURU: Rebel Foods, which runs cloud kitchens like Faasos, Oven Story Pizza and Behrouz Biryani, is eyeing a valuation of about $1 billion as it looks to mop up new round of funding of $100-150 million. The move comes as investor interest in the space ramps up, said three sources familiar with the development.

Rebel runs over a dozen virtual restaurant brands where it sells directly through its own application besides platforms like Zomato and Swiggy. The new funding follows less than six months after the Mumbai-based company raised its previous round of $125 million, which valued it at $525 million.