Faasos Startup Story - Online Food Delivery Company

Rishabh Rathi Rishabh Rathi
Sep 30, 2021 9 min read
Faasos Startup Story - Online Food Delivery Company

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Faasos.

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 is an integrated food company. With the amazing business model, inception stories and startup technicalities discover a lot more about Faasos Startup Story, Owner, Competitors, Revenue, Funding in this article.

Faasos - Company Highlights

Startup Name Faasos
Headquarters Pune
Sector Online Food Ordering, Foodtech
Co-founders Jaydeep Burman, Kallol Banerjee
Founded 2011
Operational Revenue ₹305.1 crore (FY19)
Total Funding ~ $111 Million
Parent Organization Rebel Foods Pvt. Ltd
Website faasos.com

Faasos - About and How it works
Faasos - Founders and Team
Faasos - Owner | Rebel Foods Pvt Ltd.
How was Faasos Started?
Faasos - Name, Tagline, and Logo
Faasos - What is Faasos?
Faasos - Business Model and Revenue Model
Faasos - Funding and Investors
Faasos - Revenue
Faasos - Startup Challenges
Faasos - Competitors
Faasos - Growth
Faasos - FAQs

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Faasos - About and How it works

So what is Faasos? The Faasos company 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 which is now Faasos parent company. Faasos headquarters are based in Pune, Maharashtra but operate in more than 15 major metropolitan cities of India. Faasos India is the only company that works on all the three stages of food on-demand business which are ordering, distribution and order fulfilment in the sector of online food ordering business in India.

Faasos - Founders and Team

Jaydeep Barman (CEO) and Kallol Banerjee are the Faasos founders.

Faasos Founders, Ceo.
Jaydeep Barman and Kallol Banerjee - Faasos, Founders

Jaydeep Barman completed his MBA from INSEAD and is the current Faasos CEO. This Faasos founder worked for McKinsey & Company, London, where Jaydeep was an associate principal. Kallol Banerjee has also completed his MBA from INSEAD. Kallol has previously worked in Singapore at Bosche before they started their venture.

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Faasos - Owner | Rebel Foods Pvt Ltd.

Rebel Foods is the Faasos owner and the Faasos parent company. Rebel Foods is an Indian online restaurant company that operates several cloud kitchen brands. It was founded by Faasos founders Jaydeep Barman and Kallol Banerjee in 2011.

Faasos Owner - Rebel Foods
Rebel Foods Brands

How was Faasos Started?

In 2004, Faasos startup story began 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 India with full commitment. The Faasos history was started with an idea 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 and that's how Faasos story began. From 2011 to 2013, Faasos revenue grew and the founders opened over 70 Faasos franchises in the major cities of India.

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The Faasos name 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.

The Faasos tagline – We Got Your Food! Faasos logo is in written in a cursive font in the colour of blue. While Faasos company aims to become the best in terms of the ‘Food on Demand’ business in our country.

Faasos logo
Faasos logo

Faasos - What is Faasos?

Faasos is an Indian Online Food Delivery Company and a nationwide chain of food outlets. Faasos origin started out by selling only Calcutta rolls in Pune, but now Faasos menu includes wraps, rolls, Frankies and Indian food items which are an alternative to the McDonalds, Subways, and Dominos. Faasos website takes online orders, prepares food for its customers and delivers the same at their doorstep, you can also search for the website or Faasos outlets in India by simply searching "Faasos near me".

The Faasos app wide range of food items includes classic wraps, party wraps, rice bowls, desserts, meals, snacks, etc. And according to the Faasos reviews, it accepts online party orders. Since its inception, Faasos aimed to create a kitchen from where the customers can order all their favourite dishes and get them delivered in no time. Besides Faasos branches across the country are based on the Faasos cloud kitchen model, through which people can order food.

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Faasos - Business Model and Revenue Model

Faasos business model is running on a cloud kitchen-based model, wherein the parent company Rebel Foods is offering four in house brands on its platform namely Oven-Story, Kettle&Eggs, and Behrouz. The Faasos cloud kitchen model was introduced after the other Faasos brands were added in the year 2015.

The Faasos food delivery process is designed in a way that it is an easy process for customers to order Faasos food. In this way, the Rebel foods business model helps the company multi-task using the same kitchen, with common ingredients and the same staff to fulfil all their orders from varied brands. Today, Faasos operates more than 160 Faasos franchises that offer meals from four different brands.

Faasos - Revenue

In FY19, Faasos revenue was estimated to be ₹305.1 crore, which is 2x increase from ₹147 crore Faasos revenue in FY18.

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Faasos - Funding and Investors

Faasos funding has raised over $111 million to date. Faasos' first round of funding was held in January 2011 wherein the famous investor Sequoia Capital funded Faasos with $8 million.  

The details of Faasos funding are as follows:

Date Amount Stage Investors
January 2011 $8 Million Series A Sequoia Capital
2015 $16 Million Series B Sequoia Capital and Others
$30 Million Series C Sequoia Capital, RB Investments, Lightbox
INR 414 Million Series C Sequoia Capital, RB Investments, Lightbox
January 2019 $4.2 Million Venture Debt Alteria Capital
March 2019 $15.8 Million Series D Sequoia Capital India, Lightbox Ventures, Evolvence India Fund
February 2020 $4.9 Million Series E1 Alteria Capital
July 2020 $26.5Million Series E2 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 the 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.

Afterwards, the company switched to Sage software which had overcome the problems of finance and accounting functionality. According to the Faasos founders, one of the big failures that were faced by Faasos India 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 Faasos 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 app has a niche business model and works differently than others. To compete in this competitive market and to be better than Faasos competitors, the platform focuses on the pricing and range of food items that it offers to its customers.

Faasos - Growth

The owner of Faasos, 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, while the Faasos reviews have got better over the years. Faasos outlets in India will keep increasing as the company 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. Over the years Faasos has become one of the top food delivering companies in India.

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Faasos - FAQs

Who is the CEO of Faasos?

Jaydeep Barman is the Co-Founder and CEO of Faasos.

How much is the revenue of Faasos?

In FY19, Faasos generated operating revenue of ₹305.1 crore, which is 2x increase from ₹147 crore revenue in FY18.

Who are the Top Competitors of Faasos?

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

Who is the Owner of Faasos?

Rebel Foods Pvt Ltd., is the Owner/Parent Organisation of Faasos. It was founded by Jaydeep Barman (CEO) and Kallol Banerjee in 2011.

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