Singapore-based investment firm Temasek has filed a notice with the Competition Commission of India (CCI) to invest in Rebel Foods through its unit Jongsong Investments, The Arc reported, citing filings. 

According to multiple media reports, the Behrouz Biryani and Faasos owner is about to close a $100 million to $200 million funding round expected to be led by Temasek. The round will include both primary and secondary sales. 

Rebel Foods operates multiple cloud kitchen brands and is planning for its public debut in the next 12-18 months. The company runs Oven Story, Behrouz Biryani, Sweet Truth, and Faasos. It also undertook downsizing operations in January 2023, laying off 2% of its workforce. 

Rebel Foods, which has raised multiple rounds of debt financing, earns money through the sale of food through its owned stores and kitchens.

The company narrowed its after-tax losses by 40% to Rs 378 crore in the financial year ended FY24 compared to Rs 656 crore a year ago, according to filings made with the Registrar Of Companies. It clocked a 19% increase in operating revenue to Rs 1,420 crore as compared to Rs 1,195 crore it posted a year earlier.

Rebel Foods, founded in 2011, closed its fourth debt financing round in April 2023, after raising Rs 75 crore in debt funding from Northern Arc and Stride Venture. 

The Entrepreneurship Cell (E-Cell) of IIT Madras is hosting the third edition of the Chennai Startup Meetup on 19th October 2024, from 3:00 PM to 6:00 PM at IIT Madras. This event provides a platform for startups, investors, venture capitalists (VCs), and mentors to engage with Chennai’s growing startup ecosystem.

The Chennai Startup Meetup is designed to foster conversations and collaborations among entrepreneurs, investors, and mentors. Its aim is to create an environment where participants can share insights and explore emerging trends. Whether you are a founder seeking funding or an investor exploring new opportunities, this event encourages valuable networking and knowledge exchange.

What Startups Can Gain

Startups attending the event will have several opportunities:

Access to Investors: The event offers closed-door meetings for startups with investors, creating opportunities for private discussions about funding and growth.

Industry Insights: A fireside chat with a guest speaker will provide startups with real-world advice from an experienced entrepreneur, sharing lessons that can help guide early-stage ventures.

Networking with Mentors: Startups will also have the chance to connect with mentors from the IIT Madras ecosystem, known for nurturing successful ventures. This network can be a valuable resource for guidance and collaboration.

What Investors Can Expect

For investors and venture capitalists, the meetup presents opportunities to explore fresh ideas and interact with emerging startups. Features for investors include:

Engagement with New Startups: Investors can meet founders and learn about innovations and business models in various sectors, offering a glimpse into the latest trends.

Networking within the IIT Madras Ecosystem: The event is linked to the IIT Madras Incubation Cell, providing a pathway to ventures that have been developed in an established framework of support.

Key Features of the Event

Networking Session: A dedicated session for informal discussions between startups, investors, and mentors.

Reverse Pitch: A unique format where VCs and investors present their focus areas, allowing startups to understand what different investors are seeking.

Fireside Chat: A notable guest speaker will share their entrepreneurial experiences.

The Chennai Startup Meetup 2024 offers a valuable opportunity for startups, investors, and mentors to connect, share knowledge, and explore potential collaborations. Scheduled for 19th October 2024 at IIT Madras, the event promises to be a key moment for Chennai’s startup ecosystem. Registration is available through the official website.

Primus Senior Living has raised $20 million in seed funding round led by General Catalyst, with participation from Zerodha co-founder Nikhil Kamath, and Gruhas, the investment firm co-founded by Kamath and Abhijeet Pai.

The funding will be used to develop a comprehensive eldercare platform that offers a wide range of services, including healthcare, wellness, lifestyle, and social engagement—all delivered in the comfort of the elder’s home.

YourStory had earlier reported that Primus Life is looking to raise up to $25 million in a funding round, and had initiated discussions with other private investors.

The investment also marks a major milestone in Primus’ mission to develop India’s first full-stack solution for senior care.

Led by Adarsh Narahari, Primus is providing personalised solutions that cater to the unique needs of seniors, fostering a sense of belonging and purpose.

By leveraging technology and a strong service infrastructure, Primus aims to ensure that elders can age with dignity and maintain a high quality of life in their own homes, said a release by the company.

“This investment marks a transformative moment in our mission to enrich the lives of our elders in India. At Primus, we envision a future where aging is not seen as a burden but as a cherished phase of life. Our goal is to create a vibrant, inclusive ecosystem where seniors are not only cared for but celebrated—surrounded by love, connection, and purpose,” said Narahari, Founder and Managing Director of Primus.

With the home as the focal point of care, Primus is also building intergenerational communities where people of all ages can live, connect, and thrive together, creating environments that foster meaningful relationships and cater to the evolving needs of seniors.

“India could become a really exciting destination for retirement migration in the next decade. Think about it—our hospitality, our culture, our landscapes—we’ve got all the right ingredients to build a compelling ecosystem for retirees, both local and global. The eldercare space could be a huge entrepreneurial opportunity as well,” said Kamath.

“India is getting older, and with the rise of nuclear families, we need to rethink how we take care of our elderly. The traditional approach doesn’t always work anymore. We need new-age solutions—like what Primus is creating—to give people the care, comfort, and dignity they deserve as they age. This is just the beginning,” he added.

“Solving for elders and their needs is a deeply personal problem statement, as I am sure with many in our generation. As India grows older, we need to reimagine how we service our Elders in a manner that preserves their agency and expands their quality of life. Primus aims to achieve this with ‘Home’ as an anchor, creating mini ‘Blue Zones’ for our Elders with a tech & data-first solution that combines health, community, purpose, and lifestyle,” said Priya Mohan, Partner at General Catalyst.