New Delhi: Uber Technologies Inc. co-founder Travis Kalanick has invested in India's largest shared-kitchen company Rebel Foods Pvt, reported Bloomberg.
City Storage Systems, a real estate company bought a small stake in Rebel Foods Pvt as part of a previously disclosed $125 million round of funding, the report said.
This is Kalanick's first investment in India after he was ousted in 2017 from the US ride-hailing leader after a series of scandals. He has set up an investment fund and charted a strategy to build a kitchen rental service — called Cloud Kitchens.
Mumbai-headquartered Rebel Foods is planning to expand into Southeast Asia and the Middle East. Founded by McKinsey & Co. alumnus Jaydeep Barman, the company serves a wide menu through "virtual restaurants" that exist only on the internet.
It operates more than 250 cloud kitchens in 22 Indian cities, and plans to expand to 400 by the year ending in March 2020.
Comments
0 comment