Rebel Foods Reshuffle: Cofounder Ankush Grover Appointed Global CEO

In a major top-level reshuffle, IPO-bound cloud kitchen unicorn Rebel Foods has elevated cofounder and India CEO Ankush Grover to the post of global CEO.

“We are pleased to announce a leadership transition at Rebel Foods. Ankush Grover, cofounder and previously CEO – India, has been elevated to Global CEO of Rebel Foods. Over the years, Ankush has played a pivotal role in building Rebel from the ground up and scaling it across markets. In his expanded role, all core functions—including technology, finance, marketing, and human resources—will now report directly to him,” a spokesperson of the unicorn said..

Grover is replacing cofounder Jaydeep Barman, who will transition to the role of company’s chairman and group CEO. Grover will continue to report to Barman.

“Jaydeep Barman will transition into the role of chairman and group CEO, overseeing Rebel Foods as well as our broader portfolio of investee companies. He will continue to mentor the leadership team and drive long-term strategic direction for the Group,” the spokesperson said.

Meanwhile, Barman also announced the development in a post on LinkedIn. Explaining the rationale behind Grover’s elevation, he underlined aspects such as Grover’s “execution” skills, “leadership” qualities, founder mentality, and understanding of finance.

An alumnus of NIT Jamshedpur and IIT Bombay, Grover joined Rebel Foods in 2012 and rose through the ranks to become the India CEO in 2023.

The leadership reshuffle comes at a time when the cloud kitchen unicorn is gearing up for its public listing. In October 2024, reports first surfaced that Rebel Foods was eyeing a listing on the Indian bourses in the next 12-18 months (between January 2026 and April 2026). However, there have been no further updates on the listing plans since then.

Founded in 2011 by Kallol Banerjee and Barman, Rebel Foods is a cloud kitchen startup that operates multiple quick service restaurant (QSR) brands such as Behrouz Biryani, Ovenstory Pizza, The Good Bowl, SLAY Coffee and Wendy’s, among others.

It claims to operate 350 kitchens across 70 cities in India, serving around 2.5 Lakh orders daily. It has raised more than $773 Mn in funding across multiple rounds from investors like Temasek, Coatue Management, Lightbox, and Peak XV Partners.

In April this year, it reportedly secured $25 Mn from Qatar Investment Authority at a valuation of $1.4 Bn to expand its physical restaurants and food courts business.

Earlier this year, the startup also forayed into the 15-minute food delivery segment with its app called ‘QuickiES’. At the time of its launch in February, QuickiES offered deliveries from 45+ brands, including Faasos, Wendey’s, Oven Story Pizza, LunchBox, among others.

On the financial front, Rebel Foods reported a net loss of INR 378.2 Cr in FY24, down 42% from INR 656.5 Cr in the previous fiscal year. Operating revenue rose 19% to INR 1,420.2 Cr during the year under review from INR 1,195.2 Cr in FY23.

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