UditRebel Foods, which is a Mumbai based cloud kitchen, has now secured an additional venture debt of INR 35 crore led by the Alteria Capital. With the help of this new debt, the total debt funding secured by the startup is at INR 85 crore.
The startup has also secured equity capital of $125 million led by the Coatue and Goldman Sachs. Rebel Foods was valued at around $500 million.
Speaking on the investment from Alteria, Jaydeep Barman, Co-Founder and CEO of Rebel Foods, said:
“Alteria has been a tremendous partner in our journey of disrupting F&B on a global scale. Much of our investments go into building state-of-the-art/automated kitchens, and venture debt raised by us from Alteria helped us keep our cost of capital lower than equity raise. It has given us a significantly longer runway on our equity funding.”
Vinod Murali, Managing Partner, Alteria Capital, said, “Having known Jaydeep and the team at Rebel for many years now, we have witnessed the phenomenal growth and successful diversification of brands adopted by the company. The overseas strategy is well timed as it allows for better efficiency and the business has a robust Indian base. Alteria believes in doubling down strongly with our founders, and we are excited to work with Rebel with more structured financing solutions as they become one of the largest global food brand companies.”