Rebel Foods, known for its cloud kitchen model, has officially closed its quick delivery service, QuickiES, which launched less than a year ago. The decision to discontinue QuickiES was influenced by substantial cash burn, according to sources.
QuickiES operated in select areas of major cities, allowing customers to order from over 45 brands, including Faasos and Wendy’s, with a delivery promise of under 15 minutes. The service also offered a variety of cafe-style snacks.
This closure highlights the challenges faced in the quick food delivery market, which has seen several startups shut down operations recently. Notably, Swiggy ended its SNACC service, while Zomato and Zing Foods also exited this segment.
Rebel Foods is reportedly preparing for an IPO, with plans for a public listing potentially in late 2024. The company has evolved significantly since its inception in 2011, expanding from its initial brand, Faasos, to a diverse portfolio of quick-service restaurants.
Despite the setbacks in its quick delivery vertical, Rebel Foods continues to attract investment, having raised significant funds from notable investors. As the market for quick commerce grows, the competition remains fierce, with many players vying for consumer attention.
