Faasos Explained

Faasos
Logo Alt:Faasos logo
Type:Private
Founded:2011
Founder:Jaydeep Barman, Kallol Banerjee
Hq Location City:Mumbai
Hq Location Country:India
Parent:Rebel Foods
Homepage:https://www.faasos.com/
Industry:Online Food Ordering

Faasos is an Indian "food on demand" service that was incorporated in 2004. It is one of the brands owned by the online restaurant company, Rebel Foods.[1] [2] [3]

History

Faasos was founded by Jaydeep Barman and Kallol Banerjee in 2004 and incorporated as it is today, in 2011.[4] The company operates ghost kitchens in 35 cities in India,[5] investing USD $50 million into its ghost kitchen network.[6] Faasos launched its mobile app in 2014.[7] [8]

Funding

Faasos raised its first round of funding of US$5 million (Rs. 30 crore) from Sequoia capital in November 2011,[9] a second round of funding of US$20 million in February 2015 from Lightbox Ventures and Sequoia Capital,[10] and a third round of funding of US$30 million in December 2015 from Russian Internet-focused Investment firm ru-Net, Sequoia Capital and Lightbox Ventures.[11] Rebel foods, the parent company of Fassos has received a series D $125 million of funding in June 2019.[12]

External links

Notes and References

  1. Web site: Sequoia India leads fresh investment in Faasos parent Rebel Foods. March 13, 2019. VCCircle.
  2. Web site: Forbes India Magazine - Faasos: The integrated food company. forbesindia.com. 2016-07-02.
  3. Web site: Financial Express.
  4. Web site: Rage against bad food gave rise to Faasos, says co-founder Jaydeep Barman. Firstpost. 2015-11-02. en-US. 2016-07-02.
  5. News: Faasos aims to double food order figure . Business Standard.
  6. Web site: Rebel Foods Raises $50M for Its India-based Cloud Kitchen Network. Marston. Jennifer. The Spoon. 10 April 2020. 9 July 2020.
  7. News: FirstPost.
  8. Web site: Decoding Faasos' leap from 'Food on Demand' to 'Personal Kitchen App' ET Retail. www.ETRetail.com. ETRetail.com. 2016-07-02.
  9. News: Economic Times.
  10. News: Economic Times.
  11. Web site: Faasos raises Rs 200 crore in fresh funding at a time of gloom for on-demand food startups. https://web.archive.org/web/20151216211252/http://articles.economictimes.indiatimes.com/2015-12-07/news/68835701_1_faasos-food-services-lightbox-ventures-jaydeep-barman. 2016-07-02. 2015-12-16.
  12. News: Faasos parent Rebel Foods gets $125m from Coatue, others. August 2, 2019. The Economic Times.

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