THAILAND

Insurgent Meals Commits $150 Mn For Model Investments And Acquisition

Rebel Foods Commits 150 Mn For Brand Investments And Acquisition

Insurgent Meals operates greater than 450 kitchens and 4000 web eating places throughout 60 cities in ten totally different international locations

The startup’s portfolio consists of manufacturers corresponding to SLAY, Naturals Ice Cream, Mad Over Donuts and Wendy’s (India)

The addressable market dimension of cloud kitchens in India can be $1.05 Bn in 2023, rising at a CAGR of 12%

Foodtech unicorn Insurgent Meals is committing $150 Mn in strategic model investments and acquisition in India and the world over. The funding pool can be used to scale up current and new partnerships with Indian and worldwide manufacturers. 

Insurgent Meals had entered the unicorn club after raising $175 Mn in a Sequence F funding spherical led by Qatar Funding Authority. The sovereign fund of the state of Qatar and current buyers Coatue an Evolvence had additionally participated within the spherical that took the startup’s valuation to $1.4 Bn. 

Based in 2011 by Jaydeep Barman and Kallol Banerjee, Insurgent Meals operates greater than 450 kitchens and 4000 web eating places throughout 60 cities in 10 international locations together with India, Indonesia, the United Arab Emirates, the UK, Singapore, Malaysia, Thailand, Hong Kong, Philippines and Bangladesh. 

A number of the manufacturers below its umbrella embody SLAY, Naturals Ice Cream, Mad Over Donuts and Wendy’s (India). It operates with a Thrasio-like mannequin, the place it acquires upcoming F&B manufacturers and scales them throughout the nation and overseas utilizing its community of cloud kitchens. 

“We’ve got disrupted the centuries-old meals enterprise and with our newest spherical of funding, we’re properly on our solution to proceed specializing in serving a number of meals missions. By way of this initiative, we purpose to spend money on a few of the most cherished meals manufacturers and assist them scale via our intensive community to all elements of the nation and even internationally. It’s already occurring with SLAY, Wendy’s, Biryani Blues and others,” mentioned Raghav Joshi, cofounder of Insurgent Meals. 

In line with an Inc42 Plus Report, the addressable market dimension of cloud kitchens in India can be $1.05 Bn in 2023, rising at a CAGR of 12%. The net meals supply market is anticipated to develop at 15% to succeed in $132.6 Bn throughout the identical interval.

Final month, Hyderabad-based TTSF Cloud One, a multi-brand cloud kitchen chain from the creators of The ThickShake Manufacturing unit, had raised $5.3 Mn in a seed funding round led by Model Capital — the strategic funding arm of the Occasions of India Group. In a dialog with Inc42, TTSF cofounder Ashwin Mocherla spoke about how the startup additionally plans to increase operations with a Thrasio-like mannequin. 

Earlier this yr, Curefoods, which operates Eat.match, had acquired seven D2C manufacturers—Masala Field, Paratha Field, CakeZone, Ammi’s biryani, Olio and Crusto’s, and Chaat Road. 

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