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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The 13-year-old cloud kitchen company is seeing a massive secondary share sale, after a long, tough phase. How did it attract a sovereign wealth fund and a private equity giant?
Last week, Rebel Foods, the Pune-based cloud kitchen company, announced a $210 million funding round. This is basically one, large round of secondary share sale, where Rebel Foods is also getting access to some primary capital for expansion.
The highlight of this fundraise: Singapore’s sovereign fund Temasek is majorly buying partial stakes of some of the existing investors of Rebel Foods. In the coming weeks, private equity giant KKR is also going to buy partial stakes from Rebel’s current investors, according to a person aware of the developments at the company who did not want to be named.
The sellers …
The UAE is looking at its first public listing of the year while Egypt just delivered a big one; OpenAI’s bugging accused has ties to Saudi Arabia; and other updates from the week.
India’s grocery and food delivery platforms are increasingly displaying misleading images of food using artificial intelligence, defeating the very purpose of buying online.
The EV maker is turning to gig-worker rentals to absorb its scooter output. But questions on cost, competition and execution make its latest pivot uncertain.
