The 27-year-old actor, who was linked to Perry after his split from Kristen Stewart last year, was spotted spending the majority of Coachella Valley Music and Arts Festival with Wade, reported Contactmusic.
"Cleo is one of Katy's best friends, so Rob has been spending time with their gang. It's early days but they seem to have good chemistry. They spent a lot of time together over the weekend," a source said.
After parting ways from Stewart, the actor sparked dating rumours with many popular women including Sean Penn's daughter Dylan.