Faasos

Faasos is an Indian "food on demand" service that was incorporated in 2004. It is one of the brands owned by the online restaurant company, Rebel Foods.[1]

Faasos
TypePrivate
IndustryOnline Food Ordering
Founded2011
FounderJaydeep Burman, Kallol Banerjee
Headquarters
Pune
,
India
ParentRebel Foods
Websitehttps://www.faasos.com/

Faasos operates in Dubai and 34[2] of the largest cities in India and takes customer orders via its mobile app and website. It is the only vertically integrated food business in India and operates all three stages of a "food on demand" business: ordering, distribution and order fulfillment.[3]

Faasos receives 10,000 orders a day across India and has recorded a growth rate of 20-25 per cent month-on-month.[4]

History

Faasos was founded by Jaydeep Barman and Kallol Banerjee in 2004 and incorporated as it is today, in 2011.[5] Barman, an MBA from INSEAD was previously an associate principal at McKinsey & Company in London and Banerjee, holds an MBA from INSEAD and PGDM from IIM Lucknow, previously worked for Bosch in Singapore.

Operations

The company operates ghost kitchens in 35 cities in India including: New Delhi, Mumbai, Chandigarh, Chennai, Coimbatore, Bangalore, Kolkata, Hyderabad, Mohali, Noida, Nagpur, Gurgaon, Pune, Ahmedabad, Vizag, Kochi, Lucknow, Vadodara, Indore, Noida, Zirakpur, Bhopal, Ghaziabad, Tirupati, Faridabad, Vijaywada, Mysore, Kota, Tiruppur, Vellore, Surat, Nashik, Pondicherry, and Jaipur. The company has scaled up operations to 35 cities, with over 320 fulfillment centers,[6] investing USD $50 million into its ghost kitchen network.[7]

Funding

Faasos raised its first round of funding of US$5 million (Rs. 30 crore) from Sequoia capital in November 2011,[8] a second round of funding of US$20 million in February 2015 from Lightbox Ventures and Sequoia Capital,[9] and a third round of funding of US$30 million in December 2015 from Russian Internet-focused Investment firm ru-Net, Sequoia Capital and Lightbox Ventures.[10]

Faasos has raised over ₹41 crore in April 2017 in an extended Series C round of funding. The investment is led by Lightbox Ventures II, Lightbox Expansion Fund, Sequoia Capital India, ru-Net South Asia, and RB Investments.

Rebel foods, the parent company of Fassos has received $125 million of funding.[11]

Products and services

Faasos launched its mobile app in 2014. It has been downloaded more than 1,500,000 times, serving 300,000 customers each month and processing 12,000 orders per day through its mobile app (as of November 2015).[12] Users can look at the daily changing menu presented by the application and the ordering portal present on the web and then can place an order within the app itself. The app also provides live tracking.[13]

It is one of the world's very few restaurants to provide tweet-2-order with #faasosnow in 2011.[14]

Faasos Elite

Faasos launched a loyalty program, Faasos Elite, to reward regular customers. Customers part of this club receive various benefits, ranging from prioritised delivery, free desserts with their order, an option to place an order now and Pay Later- within 15 days, a birthday gift, a cashback with their every order, a chance to be part of Faasos FoodDiaries, an event where it launches its upcoming products.[15]

References
  1. "Sequoia India leads fresh investment in Faasos parent Rebel Foods". VCCircle. March 13, 2019.
  2. https://order.faasos.io/about
  3. "Forbes India Magazine - Faasos: The integrated food company". forbesindia.com. Retrieved 2016-07-02.
  4. "Financial Express".
  5. "Rage against bad food gave rise to Faasos, says co-founder Jaydeep Barman - Firstpost". 2015-11-02. Retrieved 2016-07-02.
  6. "Faasos aims to double food order figure". Business Standard.
  7. Marston, Jennifer (10 April 2020). "Rebel Foods Raises $50M for Its India-based Cloud Kitchen Network". The Spoon. Retrieved 9 July 2020.
  8. "Economic Times".
  9. "Economic Times".
  10. "Faasos raises Rs 200 crore in fresh funding at a time of gloom for on-demand food startups". Retrieved 2016-07-02.
  11. "Faasos parent Rebel Foods gets $125m from Coatue, others". August 2, 2019 – via The Economic Times.
  12. "FirstPost".
  13. www.ETRetail.com. "Decoding Faasos' leap from 'Food on Demand' to 'Personal Kitchen App' | ET Retail". ETRetail.com. Retrieved 2016-07-02.
  14. "I am Wire".
  15. "Faasos introduces loyalty programme for regular customers - The Economic Times". The Economic Times. Retrieved 2016-04-18.

Further reading
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