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The Curefoods IPO is expected to hit the markets before the end of the calendar year, sources said, and the foodtech player's expansion will be supported by a blend of organic growth, acquisitions and investment in infrastructure.
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The DRHP reveals sharp attrition, mounting expenses and a business model heavily reliant on aggregators despite strong topline growth.
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The firm has also witnessed a slowdown in food delivery, in line with the overall industry, over the past few months, but is now gradually starting to see demand pick back up due to occasions like Holi, Ramadan and the recent Champions Trophy cricket tournament, Grover said.
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As per Kochhar, Rebel foods is seeing over 20 percent YoY same-kitchen sales growth, at a time when listed food delivery majors Zomato and Swiggy have reported slowing growth over the past few quarters, amid an ongoing slowdown in consumption.
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Moneycontrol was the first to report on this development in August, detailing Rebel Foods’ funding round led by Temasek. The round was largely a secondaries transaction, almost 75%, where early backers like Lightbox, Coatue and others sold shares.
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Founders of top new age brands at the Moneycontrol Startup Conclave noted that while online presence is crucial for discovery and initial engagement, the physical experience is essential for building trust and scaling in certain categories.
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The firm will likely use the funds for offline expansion of its brands Nomad Pizza and Sharief Bhai Biryani.
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Indian Premier League 2024 watch party: What to order for an IPL home party with friends, and things to consider - from taste to what's easy to serve, eat and clean up afterwards.
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Curefoods typically spends about Rs 75 lakh to open a Nomad store. The company plans to open Nomad stores only in the top 10 cities of India, which include Delhi, Mumbai, Bengaluru, Hyderabad
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A post on one of the Brrgrr Co's social media pages announced that it had raised funds from Bakshi. According to the company's website, Brrgrr Co sells hand-crafted buns, patties, and sauces, co-founded by Delhi-based chef Akriti Malhotra in 2020.
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The just-released Telugu-Tamil bilingual film ‘Custody’ actor Naga Chaitanya on playing a cop, his love for action films, personal life, and running a food business.
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The trend of cloud kitchens has picked up in recent times as more and more people discover the advantages of ordering in vs going out to eat at a restaurant. Cloud kitchens are delivery-only restaurants where there is no space for customers to sit or dine in.
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Mumbai-based Rebel will become a master franchisee of the burger brand about two years after the companies signed a cloud kitchen deliveries-only deal. With the latest signing, the startup will help grow the chain through its digital expertise in delivery and automation, the companies said on Tuesday.
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Zomato has said that if more than 10 brands operate out of a single location, it will manually check the locations of these kitchens
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The cloud kitchen business has grown rapidly in recent years, with the market size expected to be close to $3 billion by 2025. However, there needs to be greater oversight of the working conditions of these establishments.
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Some entities in the food and beverage industry are finding that the commissions charged by food delivery platforms like Swiggy and Zomato and discounts on orders are adding to their expenses on a monthly basis, forcing them to save on costs.
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In a letter to all e-commerce Food Business Operators (FBOs), FSSAI has asked them to make provisions in their platforms, including mobile apps, for display of calorific value and information related to nutrition and allergen.
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This comes at a time when, cloud kitchens have gained traction as the pandemic forced people to stay indoors and order food online.
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The startup has acquired six cloud kitchen brands and is looking at another 25 to expand footprint across multiple cities
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Sanjay Vazirani, chairman and MD of catering and restaurant chain Foodlink Services Pvt. Ltd, on how India's wedding industry has adapted to the pandemic and the road ahead.
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Established F&B companies are expanding their repertoire with low-cost cloud kitchens, which are changing product and packaging.
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The milkshake brand is deploying cloud kitchen model increasingly at metropolitan locations.
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Given that dining in restaurants is not possible during the pandemic, to serve customers, entrepreneurs and restaurateurs are increasingly making the shift to cloud kitchens.
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With nearly 40 percent of India’s restaurants still shut because of Covid and people still reluctant to enter those that are open, it’s boom time for these delivery-only joints
