• Co-founder to lead global operations as Rebel Foods prepares for IPO.
• Rebel continues to scale its cloud kitchen network across 70 Indian cities.
• Raised $210M in Series G; FY24 loss narrowed by 42% amid consolidation efforts.

Rebel Foods, India's first cloud kitchen unicorn, has upped co-founder Ankush Grover to the role of Global Chief Executive Officer (CEO), a foundational leadership change as the company prepares for a likely public offering.

Grover, who has overseen Rebel's India operations since 2023, will now be responsible for all the key global functions  such as technology, finance, marketing, and HR. An NIT Jamshedpur and IIT Bombay alumnus, Grover replaces fellow co-founder Jaydeep Barman, who moves to the position of Chairman and Group CEO. Barman will continue to drive the company's long-term strategy and oversee its wider investment portfolio.

"Ankush has played a key role in Rebel's development from the day it started and has spearheaded its expansion into various markets. All primary functions will now directly report to him as a result of this promotion," a company spokesperson said.

Started by Barman and Kallol Banerjee in 2011, Rebel Foods runs some of the internet's largest restaurant brands, including Behrouz Biryani, Faasos, Ovenstory Pizza, SLAY Coffee, and Wendy's India. Today, it has over 350 kitchens in 70 cities in India and processes close to 250,000 orders every day.

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This change in leadership is timely as Rebel Foods prepares for its highly anticipated IPO. The company is reportedly targeting a listing in the period between January and April 2026, based on late 2024 reports. While an official announcement is still pending, recent strategic initiatives  such as operational simplification and portfolio focus  indicate a decisive turn toward profitability.

Earlier this year, Rebel closed its Bengaluru and Gurugram offices and centralized operations in Mumbai. It also started considering exiting from its premium brand portfolio and is said to be seeking to divest its stake in dessert and chocolate firm Smoor as it has not performed well enough in top markets such as Mumbai.

During FY24, Rebel Foods witnessed a 19% rise in operating revenue to Rs 1,420.2 crore, and its net loss fell 42% to Rs 378.2 crore. So far, the company has raised more than $773 million of capital from high-quality investors such as Temasek, Coatue, Peak XV Partners, and Lightbox.

In 2024, Rebel raised $210 million in a Series G funding round co-led by Singapore's Temasek and continued support from existing backer Evolvence. In February 2025, it also rolled out QuickiES a 15-minute food delivery platform that targets the likes of Zomato and Swiggy.

The promotion of Grover reflects Rebel Foods' strategic emphasis on leadership consolidation and efficiency of execution as it looks toward a new growth phase.