▸ HungerBox is planning to utilise the funds to expand into more cities across India and overseas
▸ The startup claims to be fulfilling 560,000 orders every day and aiming to reach 1 million orders per day before the end of this financial year
HungerBox has today raised $12 million in a Series C round from existing and new investors including Paytm, Sabre Partners, Neoplux and NPTK Emerging Asia Fund (India).
The startup empowers companies and institutions by offering management services to improve operations and quality of their cafeterias. The company helps its clients to connect with food partners through an app and get real-time updates of their order.
HungerBox also provides these firms with a point-of-sale machine, helps them get better insights into the quality of food being catered to their employees and enables scheduled delivery and tracking of orders to address the long queues.
In an interview with TechCrunch, the CEO & Co-founder of HungerBox, Sandipan Mitra said: “We all talk about the food delivery to consumers, but not many are looking to improve the quality of food and how it is being catered to tens of millions of employees in the country each day,” he said. “It’s a challenge that has not been addressed well.”
HungerBox has raised around $22.4 million until now and planning to deploy the fresh funds for its geographical expansion into 10 new cities in India and also expand overseas.
Commenting on the investment round, Mitra added: “This latest investment not only validates what we’ve achieved but is also a striking endorsement of HungerBox’s future prospects, providing us with the boost we need to deliver on the challenge of even faster growth”.
Madhur Deora, the president at Paytm has affirmed that their investment in HungerBox has helped Paytm add new use cases to their payments business and digitalisation of offline transactions.
“We continue to focus on adding new use cases to our payments business and digitizing offline transactions. HungerBox is the market leader in the institutional FoodTech space and we will partner closely with them and bring the benefits of Paytm ecosystem to HungerBox,” said Deora
HungerBox’s solutions are employed by over 535 cafeterias that operate in IT, technology, retail, healthcare, aviation, education, finance and manufacturing sectors.
The startup claims to be fulfilling 560,000 orders every day and aiming to reach 1 million orders per day before the end of the financial year March 2020.
ⓘ Image source: VCcircle