Rebel Foods has gotten a 14% stake in hyperlocal food organizing firm FoodyBuddy with a venture of Rs 5 crore, administrative filings show. With this most recent implantation, Rebel has expanded its stake to 26% in the Prime Venture Partners-upheld food organizing stage.
As indicated by sources, this round qualities the Bengaluru-based organization at Rs 31 crore in the new round. FoodyBuddy associates home gourmet experts to buyers in their region. FoodyBuddy has been utilized by home gourmet specialists, particularly housewives to discover clients in their high rises and neighborhood.
This is the third round of interest in FoodyBuddy. Beforehand, it raised Rs 6 crore from Prime Venture Partners in January a year ago. In April this year, Rebel Foods imbued Rs 3 crore with plans to use FoodyBuddy’s organization of around a 1,000 home cooks to invasion into the home-prepared dinners vertical.
Following the exchange, FoodyBuddy’s prime supporters’ stake has weakened to 39.18%. While Akhil Sethuraman holds 15.28%, other two fellow benefactors Anup Gopinath and Rachna Rao order 11.95% each.
Rebel Foods has had the option to arise as an innovator in the full stack foodtech space. It runs multi-brand cloud kitchens including Faasos, Oven Story, Firangi Bake, Mandarin Oak, Kettle and Eggs, and Behrouz. Other than its own application, the organization creates near 60% of its interest through commercial centers – Swiggy, Zomato and UberEats.
The Jaydeep Barman-drove firm is near contacting a $1 billion valuation and entering the desired Unicorn club. It was esteemed at $820 million or Rs 6,145 crore when Coatue contributed $26.5 million or Rs 198.85 crore. Coatue is the biggest partner with 22.13% holding in the food-centered organization.
Rebel Foods had as of late rebranded its Faasos application to EatSure.
The extra imbuement in FoodyBuddy from Rebel Foods demonstrates that the organization is peering toward to control bigger piece of the pie in home-prepared food space. Holachef was one of the scaled parts in the portion. Nonetheless, it was sold out to Ola in a pain deal. FoodyBuddy contends with Oota Box and Masala Box among others.