Ride-hailing firm Uber’s co-founder Travis Kalanick has purchased a small stake in Rebel Foods Pvt. Ltd, the owner of online kitchen brands including Faasos and Behrouz Biryani, as part of a funding round that was disclosed previously to be worth $125 million (Rs 884.7 crore at current exchange rate), a person familiar with the matter told Mint.
The stake has been purchased City Storage Systems, a real estate company where Kalanick acquired a controlling holding in 2018 and announced himself as its chief executive, going by Business Insider. The firm runs Cloud Kitchens, which buys real estate in cities to set up kitchens for restaurants. Kalanick had exited Uber as chief executive following a series of scandals.
Rebel Foods, valued at $525 million, is backed by investors including Coatue Management, Goldman Sachs, Sequoia Capital, and ride-hailing giant Go-Jek.
Apart from Faasos and Behrouz Biryani, Rebel Foods runs brands including Oven Story, The Good Bowl, and Sweet Truth, available across leading online food delivery platforms.
Meanwhile, home loan company HDFC is all set to buy the remaining stake of around 10% in HDFC Credila from its co-promoters with an eye to list the student loan firm in a couple of years, a person in the know told The Economic Times.
HDFC Credila funds students for higher education in both India and abroad.