Travis Kalanick’s new company CloudKitchens recently bought a minority stake in India-based food delivery company Rebel Foods Pvt, Bloomberg reports.
The investment reportedly came as a part of a $125 million funding round backed by investors including Sequoia Capital and Goldman Sachs that valued Rebel at $525 million.
Kalanick’s latest startup operates similarly to what The Information reporter Amir Efrati called “a WeWork for food” in a profile of the company published today. CloudKitchens has already bought up several kitchens to cook ready-to-deliver food items in India, where it is competing with a growing set of players.
Rebel, which was founded by former McKinsey associate Jaydeep Barman, is quickly gobbling up market share: The company processes more than two million orders a month and operates in 235 kitchens in 20 Indian cities, TechCrunch reported in August.