Rebel Foods, a startup cloud kitchen company backed by Sequoia and home to brands like Oven Story, Behrouz Biryani, Sweet Truth, and Faasos, is the latest startup to reduce its employees.
Around 2% of the company’s employees were affected by the layoffs, according to a company spokesperson.
According to the company, any adjustments to employee strength are the result of “annual performance evaluation and realigning the organization” to the firm’s priorities for long-term objectives.
“Any news heard is on account of annual performance evaluation and realigning the organization to our priorities for future goals,” said a Rebel Foods spokesperson.
The Pune-based startup, established in 2011 by Jaydeep Barman and Kallol Banerjee, runs 4,000 “cloud kitchens” under 45 brands. It operates in the UK, Thailand, Bangladesh, Singapore, Malaysia, India, and Indonesia.
The startup raised about Rs 55 crore ($6.6 million) in a debt financing round from existing investors in December of the previous year. Rebel Foods completed three debt rounds in 2022, raising a total of Rs 225 crore.