Faasos - Get Food Delivered at Your Door Steps

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Have you ever fancied yourself as a restaurant owner at some time in your life? Don’t you think how complicated would it be to start and run a restaurant chain? Right from the choice of cuisine to the business model, how difficult it can be to run your chain when already hundreds of well-established brands are there in the market. When the whole world out there is having a good time, how struggling it can be to establish you and your brand? Well, the answer to all these and many other questions, we have an ideal example – Faasos, the integrated food company. With the amazing business model, inception stories and startup technicalities discover a lot more that is coming ahead in this article.

Faasos - Company Highlights

Startup Name Faasos
Headquarters Pune
Sector Online Food Ordering
Co-founders Jaydeep Burman, Kallol Banerjee
Founded 2011
Parent Organization Rebel Foods Pvt. Ltd
Website faasos.com

Faasos - About and How it works
Faasos - Founders and Team
How was Faasos Started?
Faasos - Name, Tagline, and Logo
Faasos - What is Faasos?
Faasos - Business Model and Revenue Model
Faasos - Funding and Investors
Faasos - Startup Challenges
Faasos - Competitors
Faasos - Growth

Faasos - About and How it works

Faasos is an Indian online food delivery company that was incorporated in the year 2011. In 2018 the company rebranded itself by the name Rebel Foods Pvt Ltd. It is headquartered at Pune but operates in more than 15 major cities in India. For a fact, it is the only company that works on all the three stages of food on-demand business namely – ordering, distribution and order fulfillment in the sector of online food ordering business in India.

Faasos - Founders and Team

Jaydeep Barman and Kallol Banerjee are the brains behind Faasos.

Jaydeep Barman has completed his MBA from INSEAD. At McKinsey & Company, London, Jaydeep was an associate principal. Kallol Banerjee has also completed his MBA from INSEAD. Kallol has worked in Singapore at Bosche before they started their venture.

Jaydeep Barman and Kallol Banerjee founded Faasos.
Jaydeep Barman and Kallol Banerjee

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How was Faasos Started?

In 2004, Faasos was started as a Calcutta Roll store chain in the city of Pune. To provide end to end delivery, fresh food, and doorstep delivery, it took around 7 years for Jaydeep and Kallol to establish Faasos with full commitment. It was an idea that started over rum and cola at an apartment that was shared by the two in Pune.

Jaydeep had no background experience in the food business sector and all his decisions were intuitive which have served him well so far. He was just tired of the burger and pizza chains and wanted something Indian to pop up in the online sector. From 2011 to 2013 the founders grew over 70 restaurants in the major cities of India.

The name Faasos was taken from Burkina Faso which is a French colony and it means ‘Land of Incorruptible People’. Although it does not symbolize anything nor is related to the food industry but the founders thought that it might be interesting to keep this name.

Faasos Logo
Faasos Logo

The tagline of Faasos is – We Got Your Food!

Faasos aims to become the best in terms of ‘Food on Demand’ business in our country.

Faasos - What is Faasos?

Faasos is an Indian Online Food Delivery Company and a nationwide chain of food outlets selling wraps, rolls, Frankies and Indian food items which are an alternative to the McDonalds, Subways, and Dominos. Faasos takes online orders, prepares food for its customers and delivers the same at their doorstep.

Their wide range of food items includes classic wraps, party wraps, rice bowls, desserts, meals, snacks, etc. Fassos also accepts online party orders. Since its inception, Faasos aimed to create a kitchen from where the customers can order all their favorite dishes and get it delivered in no time.

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Faasos - Business Model and Revenue Model

Faasos is running on a cloud kitchen model wherein the parent company Rebel Foods is offering four in house brands on its platform namely Oven-Story, Kettle&Eggs, and Behrouz. These additions were made in the year 2015 and the company in this way could multi-task using the same kitchen, with common ingredients and the same staff to fulfill all their orders from varied brands. Today, Faasos operates about more than 160 kitchens that offer meals from four different brands.

Faasos - Revenue

The company has projected net revenue of Rs 300-350 crore for FY19. It ended financial year 2017-18 with Rs 147 crore in net revenue and cut its loss by half from FY17, when it had locked a loss of Rs 82 crore.

Faasos - Funding and Investors

Their first round of funding was held in January 2011 wherein the famous investor Sequoia Capital funded Faasos with $8 million .

In 2015 a new investor was added and Faasos could manage to raise around $16 million from the new and existing investors.

In their third series, Faasos managed to raise a capital of $30 million in the first phase and 414 million rupees in the second phase from the Investors – Sequoia Capital, RB Investments, and Lightbox.

It had also received $4.2 million from venture debt fund Alteria Capital in January 2019

In March 2019, the firm secured Rs 110 crore ($15.8 million) as part of its Series D round from venture capital firm Sequoia Capital India, Lightbox Ventures, and Evolvence India Fund.

In February 2020, It raised $4.9 million from Alteria Capital

In July 2020, It raised Series E2 funding of $26.5 Million led by Coatue Management.

Faasos - Startup Challenges

One of the most important aspects of any business is accounting and finance and that was an early challenge for Faasos to manage as it was using legacy Point of Sales system for store sales and inventory management whereas for the accounting and financing Faasos was dependent on the ubiquitous Tally software.

Afterward, the company switched to Sage software which had overcome the problems of finance and accounting functionality. One of the big failures that were faced by Faasos was the location failures and the cost needed to bear such failures. However such failures made them realize that they need to have multiple food brands rather than a brand extension.

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Faasos - Competitors

Faasos is a chain that has direct competition with giant food aggregators like Zomato and Swiggy whereas there are other competitors like FoodPanda and so on. In India, the food delivery market is valued at 15 billion dollars and is exponentially growing day by day. The online food delivery market has also become extensively competitive. Although Faasos has a niche business model and works differently than others. To compete in this competitive market Faasos focuses on the pricing and range of food items that it offers to its customers.

Faasos - Growth

The Co-founder Jaydeep firmly believes that Faasos has no limit. It is offering wraps, rice, and meals as of now but it might expand to include rich and varied cuisines. Faasos has the power and ability to make strong brands in the food industry and the cost structure of lean manufacturing and distribution. In the long run, Faasos has the potential to offer products at low costs in the future as well and also expand to run it at a global level as well.

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About Rishabh Rathi

Pre-Final Year Computer Science Undergrad and a freelancer. Connect with me on LinkedIn - https://www.linkedin.com/in/rishabhrathi22/
  • Nagpur
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