A large number of domestic and foreign investors, including Temasek, Goldman Sachs, Falcon Edge and Canadian Pension Plan Investment Board, have held talks to back cloud kitchen platform Faasos, reported The Economic Times.

The Mumbai-headquartered Rebel Foods, which runs Faasos, is in the process of raising $75-100 million, and a deal could value the eight-year-old venture at about $400 million, the report said citing people familiar with the negotiations.

“The valuation expectation is high, it is almost a 10x multiple to sales that the company is asking for,” a person familiar with the talks was quoted as saying in the report.

In addition to new investors, the report added, existing investors such as Sequoia Capital and Lightbox Venture are also expected to pump around $20 million in the company.