Deal Talk: Uber co-founder Travis Kalanick to invest in Rebel Foods; OYO to raise $1 bn
TechCircle brings you a round-up of technology investments and M&A deals reported from across newsrooms.
Uber co-founder Travis Kalanick is in talks to pick up a minority stake in Pune-based multi-brand cloud kitchen player Rebel Foods, earlier known as Faasos, multiple media reports said.
After exiting Uber in 2017 as its CEO, Kalanick took over real estate company City Storage Systems, which is making the investment in Rebel Foods.
The investment is part of the ongoing $125 million funding round for Rebel, the reports said.
Rebel Foods, founded by Jaydeep Barman and Kallol Banerjee, operates brands like Behrouz Biryani, Oven Story, Faasos, The Good Bowl and Sweet Truth, which are available across food delivery platforms like Zomato and Swiggy.
Last month, Rebel Foods was in talks to raise $76 million in Series D from Coatue Management, a technology focussed hedge fund headquartered in California and other investors.
Gurugram-based OYO Hotels & Homes is looking to raise $750 million to $1 billion in fresh funds to infuse in its parent company Oravel Stays, according to multiple media reports.
Reports said Japan-based SoftBank Group is expected to lead the funding round.
The valuation of OYO is expected to reach $13.5 billion-$15 billion post-funding and the company will use the funds for diversification and operation of its five-star and luxury properties across the world.
OYO was already in talks with financial institutions to borrow $200 million to buy premium hotels in the United States.
The company also proposed to buyback shares worth $1.5 billion from early investors this month.
It recently announced its presence in 60 US cities with over 100 hotels.