Zomoz, a quick service restaurant chain, announced on Monday that it has raised an additional $2 million from existing investors.

Although the company did not disclose the amount, sources close to the development stated that Rebel Foods invested approximately Rs 4 crore in Zomoz.

Rebel Foods said in a statement that with this capital raise, it has increased its stake in Zomoz.

Zomoz, based in Hyderabad, will use the new funds to expand its presence in the UAE as well as its retail presence in the operational markets.

Zomoz, founded in 2015 by ISB alumnus Shouvik Dhar, specialises in momos and baos and has cloud outlets in Bangalore, Chennai, Kolkata, Mumbai, Pune, Mysore, and Mangalore. The platform claims that its monthly sales have more than doubled since the initial funding in October of last year.

Rebel Foods, founded in 2011 by Jaydeep Barman and Kallol Banerjee, owns online kitchen brands such as Faasos and Behrouz Biryani. It currently operates over 45 brands in ten countries: India, Indonesia, the United Arab Emirates, the United Kingdom, Singapore, Malaysia, Thailand, Hong Kong, the Philippines, and Bangladesh.

Rebel Foods acquired a minority stake in Zomoz for an undisclosed sum in November of last year.

Previously, it had raised $175 million in its Series F round of funding, which was led by the Qatar Investment Authority.

This round was also attended by existing investors Coatue Management and Evolvence India Fund. The transaction allowed the company to join the prestigious unicorn club, as it was valued at approximately $1.4 billion.

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