Exclusive: Rebel Foods Shuts Quick Food Delivery Vertical QuickiES

Cloud kitchen startup Rebel Foods has pulled the plug on its quick delivery vertical QuickiES, sources told Inc42. 

The startup shut QuickiES earlier this year, almost a year after its launch, due to high cash burn, the sources added.

Notably, EatSure cofounder and CEO Sagar Kochhar, who was leading the vertical, also exited the startup late last year, as per his LinkedIn account. 

Rebel Foods declined to comment on Inc42’s queries on the development.

QuickiES was operational in select pin codes of a few major cities. Through the app, Rebel Foods delivered food from 45+ brands such as Faasos, Wendy’s, Oven Story, LunchBox, among others, to customers in under 15 minutes. 

In addition, users could order cafe-style snacks such as poha, idli, medu vada, and Maggi through QuickiES.

With this, QuickiES has become the latest casualty in the quick food delivery segment. While the quick commerce boom in the country started with grocery deliveries, it has expanded to different segments like fashion, food, home services, and more.

Investors are actively backing these startups as they look to capitalise on the fast-growing segment. For instance, quick food delivery startup Swish raised $38 Mn (about ₹356 Cr) in its Series B round led by Hara Global and Bain Capital Ventures last month. 

However, a number of startups and brands in the quick food delivery segment have also shut operations. Earlier this year, Swiggy pulled the plug on SNACC, while Gurugram-based Zing Foods shut its operations last year. In May last year, Zomato also shut its quick food delivery service ‘Quick’. 

For Rebel Foods, the shutdown comes at a time when the startup is said to be preparing for its IPO. In October 2024, reports claimed that Rebel Foods was eyeing a public listing in the next 12-18 months. However, there have been no further updates on this front. 

Founded in 2011 by Kallol Banerjee and Jaydeep Barman, Rebel Foods started as a delivery-only brand with ‘Faasos’. Over the years it expanded its portfolio and currently owns and operates multiple quick service restaurant (QSR) brands such as Behrouz Biryani, Mandarin Oak, Oven Story Pizza, Sweet Truth, LunchBox, The Good Bowl, Firangi Bake, the Biryani Life and Wendy’s.

The startup has raised $773 in funding to date from the likes of KKR, Temasek, Lightbox, Evolvence, among others. 

On the financial front, Rebel Foods’ net loss declined 11.5% to ₹336.6 Cr in FY25 from ₹380.3 Cr in the previous fiscal year. Operating revenue rose 13.9% to ₹1,617.4 Cr during the year from ₹1,420.2 Cr in FY24. 

In July last year, Rebel Foods undertook a top-level reshuffle, elevating cofounder and India CEO Ankush Grover to the post of global CEO. Grover replaced cofounder Barman, who transitioned to the role of the startup’s chairman and group CEO. 

The post Exclusive: Rebel Foods Shuts Quick Food Delivery Vertical QuickiES appeared first on Inc42 Media.