When Lightbox first invested in Rebel Foods back in 2015, we saw a clear opportunity to build a differentiated brand that leveraged technology to bring efficiency at scale in India's massively fragmented 'eating-out' market. 

We noted at the time, in our investment memo: "...the Indian eating out market is $48B and is poised to grow to $60B by 2018. Over 90% of this market is fragmented and is made up of single restaurants serving their neighbourhoods."

Since then, Rebel Foods has delivered on its potential, emerging as the world's largest internet resturants company, powered at the backend by 450 sophisticated cloud kitchens spread across the country. Today, supported by the on-ground infrastructure it has built over the years and an early inclination towards using technology extensively to create a superior customer experience, Rebel is able to bring new food brands to the Indian consumer effortlessly.

Over the years, the team at Lightbox has worked closely with Rebel to help take many of its early innovations and strategic moves to their logical conclusion. It's been quite the journey so far and we know there's much more coming up going forward.

Watch the video for more on the Lightbox and Rebel Foods journey.