Rebel Foods found itself in strange territory this year — having to play catch-up. It was catching up with quick delivery, and its chief rivals Curefoods and Wow! Momo accelerated with expansion and plans for various milestones, including an IPO for Curefoods.

Rebel Foods, pretty much the biggest name for cloud kitchens in India and creator of some of the most notable QSR brands, was on the backfoot for most of the year. But that doesn’t mean it was an uneventful year for the Temasek-backed unicorn; one could even say it was a year of recalibration and rethinking set ideas.

The biggest changes came at the leadership level. Cofounder and India CEO Ankush Grover was elevated to global CEO, with Jaydeep Barman transitioning to the role of chairman and group CEO, an organisational reshuffle that aligned with reports of a possible public listing in 2026.

Then came the launch of QuickiES, promising 15-minute food delivery, placing Rebel Foods directly on the turf of Blinkit’s Bistro, Swiggy Snacc, Swish and Zepto Cafe in the growing quick food market.

Financially, the year reflected this phase of consolidation. Rebel Foods narrowed its net loss to INR 336.6 Cr in FY25 from INR 380.3 Cr a year earlier, while operating revenue grew nearly 14% to INR 1,617.4 Cr.

While it had long dominated the delivery-only restaurant space, the year marked a conscious attempt to move beyond the cloud kitchen company tag and reset itself as a full-fledged internet restaurant brand. The shift was subtle rather than dramatic.

What began in 2011 as a single-brand, delivery-only experiment with Faasos has grown into a multi-brand food portfolio spanning Behrouz Biryani, Oven Story Pizza, LunchBox, Sweet Truth, The Good Bowl, Mandarin Oak, and Wendy’s, among others. By 2025, Rebel Foods was operating over 450 kitchens across 75 cities in India, alongside an expanding presence in the Middle East, North Africa, Indonesia, and the UK

This global presence is perhaps what sets Rebel Foods apart from the rest of the house of brands, but it’s also a play that may not yield results like profitability which are more desirable in........

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