Doris Yu · · 2 min readIndian foodtech startup HungerBox snags $12m from Paytm, others
India foodtech startup HungerBox has raised US$12 million in fresh funding from Paytm, NPTK, Sabre Partners, and Neoplux.
Photo credit: ferli /123RF
The startup will use the fresh funds to fuel its operations in 10 new Indian cities and expand into Southeast Asia. With this expansion, the company is looking to handle more than 1 million orders daily by early 2020, HungerBox co-founder Sandipan Mitra told the Economic Times.
He also said that the company will engage with the corporate sector more and expand into other fields like education, health care, and retail as part of a three-pronged strategy.
Founded in 2016, HungerBox is a business-to-business company in the food and beverage sector that provides management solutions to cafeterias and canteens, helping them track orders and monitor feedback, among others. For individual customers, the startup’s app allows them to view menus, order and pay for food, and track their orders.
The company claims that it is processing over 500,000 transactions a day, a number that is growing by 10% every month, with annual food sales hitting above US$100 million.
According to media reports, the latest round pushed the startup’s total funding to US$16.5 million to date.
In 2018, HungerBox raised US$4.5 million in a series A funding round led by Sabre Partners and Neoplux. Its other backers include Singapore-based Lionrock Capital and Infosys co-founder Kris Gopalakrishnan, among others.
Editing by Charmaine de Lazo
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
