Rebel Foods has raised $9.2 million in debt from Catalyst Trustship (Northern Arc) and Stride Ventures, while Westbridge capital has invested $90-95 million in airline operator IndiGo.
Northern Arc, Stride Ventures back Rebel Foods
Cloud kitchen startup Rebel Foods, known for its brands such as Faasos, Behrouz Biryani, and Ovenstory Pizza, has raised $9.2 million in debt from Catalyst Trustship (Northern Arc) and Stride Ventures.
In Dec, the firm had raised about $12.1 million (Rs 100 crore) in debt funding from InnoVen Capital and Trifecta Capital.
Rebel Foods entered the unicorn club after raising $175 million at a valuation of $1.4 billion in October 2021. The funding round was led by Qatar Investment Authority (QIA), the sovereign wealth fund of Qatar; with participation from existing investors Coatue and Evolvence.
Westbridge’s investment in IndiGo crosses $200m
WestBridge Capital has invested about $90-95 million in airline operator IndiGo between January and March, taking its total exposure to the company to more than $200 million, VCCircle reported.
This is the first time since late 2020 that WestBridge has made a substantial investment into IndiGo, India’s biggest airline, although it has been buying and selling relatively smaller quantities of shares over this period, the reports said.
The additional investment has raised its stake in the company to 3.37% from 2.37%.
Westbridge had initially picked up a 1.41% stake in IndiGo for $74.7 million. In October 2020, WestBridge bought additional shares of the airline and shelled out about Rs 440 crore.
Neither Westbridge nor IndiGo responded to a request for comment by DealStreetAsia.