Results · Commerce & Consumer Brands

Rebel Foods flags slowdown, bets on 15‑minute delivery

By Startup Enthusiast · 12 March 2025

What they do

Rebel Foods runs cloud kitchens and owns brands like Faasos, Behrouz Biryani and Wendy’s in India

It said growth slowed, launched a 15‑minute Quickies delivery service in Mumbai and will add 300 Wendy’s outlets, investing up to Rs 150 crore

The focus on speed and franchise expansion signals a shift as the broader food‑delivery market cools

Rebel Foods reported FY24 operating revenue ₹1,420 crore, up 19% year‑on‑year, and narrowed losses to ₹378 crore.
Co‑founder and India CEO Ankush Grover said growth slowed in the last three months but remains positive.
The company launched a 15‑minute delivery service “Quickies” via its EatSure app in Mumbai in February.
Quickies aims to compete with Zomato, Swiggy, Blinkit and Zepto’s fast‑delivery offerings.
Rebel Foods plans to open 300 additional Wendy’s outlets in India over the next three years, investing ₹100‑150 crore.
The Wendy’s franchise is the fastest‑growing brand for Rebel Foods and targets revenue tripling.
Rebel Foods is preparing for an initial public offering (IPO) in the near future.
The firm operates cloud kitchens for brands Faasos, Oven Story Pizza, Behrouz Biryani, Wendy’s and others across India.

Food‑delivery aggregators Zomato and Swiggy saw year‑on‑year growth fall below 20% in the Oct‑Dec quarter, indicating market slowdown.
Competitors like Swish are offering 10‑minute delivery, pushing the industry toward faster service.
Ramadan, Holi and the Champions Trophy cricket tournament boosted demand in March.

Operates cloud kitchens that prepare food for multiple restaurant brands.
Owns and manages brands such as Faasos, Behrouz Biryani, Oven Story Pizza, and the Indian franchise of Wendy’s.
Sells meals through its own ordering app EatSure and partner delivery platforms.
Generates revenue from food sales and franchise fees from Wendy’s.
Expands quickly by adding new kitchen locations and franchised restaurant outlets.
Uses technology to optimise order preparation and delivery times.
Targets high‑speed delivery, now launching a 15‑minute service.

Temasek (existing) — Singapore sovereign fund that invested $210 million in December 2024

Product: Multi-brand cloud kitchen and food delivery platform.
Customers: Urban consumers ordering meals from its owned brands.
How it makes money: Sells prepared food through owned brands and delivery channels.
What sets it apart: Runs a large portfolio of in-house food brands across a wide kitchen network.
Operations: Operates cloud kitchens and consumer food brands, with some dine-in and quick-delivery experiments.