Faasos, the cloud kitchen venture is in talks to raise $100 million in funding at a valuation of $400 million.
Existing investors Sequoia Capital and Lightbox Venture are expected to join new investors which include Temasek, Goldman Sachs, Falcon Edge, and Canadian Pension Plan Investment Board in the latest round.
Mumbai-based Rebel Foods which runs Faasos has reported projected revenues of Rs 320 crores and expects to be profitable soon.
Cloud Kitchens like Faasos have a much better profit margin than food aggregators like Zomato and Swiggy. This is because they sell their own food brand and can have one central kitchen which services multiple brands.
Faasos sells its food items on aggregators including Swiggy, Zomato, Foodpanda, and Uber Eats.