Faasos


Faasos is an Indian "food on demand" service that was incorporated in 2011. It is one of the brands owned by the online restaurant company, Rebel Foods.
Faasos operates in Dubai and 34 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.
Faasos receives 10,000 orders a day across India and has recorded a growth rate of 20-25 per cent month-on-month.

History

Faasos was founded by Jaydeep Barman and Kallol Banerjee and incorporated in 2011. 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 22 cities, with over 125 fulfillment centers, investing USD $50 million into its ghost kitchen network.

Funding

Faasos raised its first round of funding of US$5 million from Sequoia capital in November 2011, a second round of funding of US$20 million in February 2015 from Lightbox Ventures and Sequoia Capital, 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.
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.

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

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.