India-based virtual kitchen operator Rebel Foods is raising a further Rs 2bn ($28m) in series D funding from investors including diversified conglomerate Sistema, Entrackr has reported.
Sistema’s Asia Fund is participating alongside investment banking firm Goldman Sachs, which is leading the tranche, growth fund Irving Investors and a backer called Northwest Industrial Logistics.
The cash will be added to the $125m Rebel had raised from ride hailing service Gojek’s Go-Ventures subsidiary, Goldman Sachs, Coatue Management, Sequoia Capital India, Lightbox Ventures and Evolvence India Fund for its series D round as of last month, at a $525m valuation.
Rebel runs a food delivery service spanning 18 Indian cities that sources food from more than 200 specialist kitchens and some 1,600 partner restaurants.
The latest round follows $66.3m in earlier funding, including $30m in an October 2018 series C round featuring Sistema Asia Fund and existing investors Evolvence India, Lightbox Ventures, Sequoia Indian and Ru-Net. Rebel’s earlier backers also include RB Investments.
