Indian online restaurant company Rebel Foods has reportedly partnered with the online food delivery platform Foodpanda to expand its presence in Southeast Asian markets.
Reuters reported that Foodpanda, which is owned by German online food ordering company Delivery Hero, has provided training to multiple outlets to franchise brands created by Rebel Foods and offer them through its platform.
Foodpanda APAC chief operating officer Pedram Assadi told Reuters: “Foodpanda is Asia’s largest food delivery company … while Rebel Foods is the largest virtual brands operator in the world. This is the largest virtual food brand partnership of its kind.”
Based in Mumbai, India, Rebel Foods operates several kitchen brands across various countries.
The latest agreement is aimed at further expanding the presence of Rebel Foods’ brands in 2,000 outlets across ten Asian countries.
Assadi explained that the partnership between the two companies is already being tested across some Asian markets where Foodpanda already operates.
It is anticipated that this partnership will also be expanding to other parts of the world where Delivery Hero has established its presence, according to Reuters.
Earlier this month, Rebel Foods was reportedly in talks with Qatar Investment Authority (QIA), a sovereign wealth fund of the state of Qatar, and private equity firm Carlyle to raise funds between $150m and $200m to fund its growth plans.
It is estimated that these funds would take Rebel Foods’ valuation to as much as $1.5bn.
In July, Canada’s JustKitchen, which operates a network of ghost kitchens, signed agreements with Foodpanda and Zeek in Hong Kong to serve more on-demand customers in the region.
The agreement will enable JustKitchen to offer Foodpanda’s proprietary food brands through its ghost kitchens.