Exclusive: Rebel Foods Shuts Quick Food Delivery Vertical QuickiES

Cloud kitchen startup Rebel Foods has shut down its quick food delivery vertical QuickiES, according to sources. The decision came after the startup faced high cash burn, leading to its closure almost a year after its launch. Notably, EatSure co-founder and CEO Sagar Kochhar, who was leading the QuickiES vertical, also exited the company late last year, as per his LinkedIn account. Rebel Foods declined to comment on the development.

QuickiES operated in select pin codes of major cities, allowing customers to order food from over 45 brands, including Faasos, Wendy’s, Oven Story, and LunchBox, with deliveries made in under 15 minutes. The app also offered cafe-style snacks such as poha, idli, medu vada, and Maggi. Despite its offerings, QuickiES has become the latest casualty in the competitive quick food delivery segment.

The quick commerce boom in the country initially focused on grocery deliveries but has since expanded to other segments like fashion, food, and home services. Investors have been actively backing these startups, capitalizing on the fast-growing market. For instance, quick food delivery startup Swish raised $38 million (about ₹356 crore) in its Series B round led by Hara Global and Bain Capital Ventures last month.

However, several startups and brands in the quick food delivery segment have also shut operations. Earlier this year, Swiggy pulled the plug on SNACC, while Gurugram-based Zing Foods shut its operations last year. In May 2023, Zomato also shut its quick food delivery service 'Quick'.

Rebel Foods' shutdown of QuickiES comes at a time when the company is reportedly preparing for its IPO. In October 2023, reports claimed that Rebel Foods was eyeing a public listing in the next 12-18 months. However, there have been no further updates on this front.

Founded in 2011 by Kallol Banerjee and Jaydeep Barman, Rebel Foods began as a delivery-only brand with 'Faasos'. Over the years, the company expanded its portfolio, diversifying into various food categories and partnerships. The closure of QuickiES marks a significant setback for Rebel Foods, as it navigates the challenges of the competitive quick food delivery market and prepares for its potential IPO.

The quick food delivery segment's rapid growth has attracted both investors and competitors, but it has also led to a high churn rate as startups struggle to sustain their operations. Rebel Foods' decision to shut down QuickiES highlights the challenges faced by companies in this dynamic market, where differentiation and efficient operations are crucial for success.

As Rebel Foods moves forward, the future of its remaining operations and potential IPO remains uncertain. The company's ability to adapt and capitalize on the quick commerce trend will be key to its long-term success in the competitive food delivery landscape.