Singapore's Temasek Nears Investment in India's Rebel Foods: Report | Global AgInvesting

Singapore’s Temasek Nears Investment in India’s Rebel Foods: Report

Singapore’s Temasek Nears Investment in India’s Rebel Foods: Report

Singapore’s sovereign wealth fund Temasek is in advanced discussions to back India-based online restaurant Rebel Foods, local Indian reports. Temasek is eyeing a capital injection of between $100 million and $150 million into Rebel Foods, which is behind cloud kitchen brands such as Faasos and Behrouz Biryani. Talks between the two companies are reportedly in the advanced stages of a deal that would likely include both primary and secondary share sales.

The secondary piece of the deal in which current investors would unload shares to Temasek would value the Mumbai-based unicorn at approximately $700 million, sources told The Economic Times. This compares with a $1.4 billion valuation the company received amid a $175 million round led by Qatar Investment Authority (QIA) back in 2021.