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Cloud kitchen startup becomes third Indian unicorn this week

Rebel Foods Pvt has become at least the third Indian startup to achieve a billion-dollar valuation this week after securing $175 million in a funding round led by the sovereign wealth fund Qatar Investment Authority.

Existing investors Coatue Management and Evolvence Group joined the funding at a $1.4 billion valuation for the Mumbai-headquartered company, which operates cloud kitchens and calls itself the world's largest internet restaurant company.