HungerBox, which is an Indian food-tech startup and has squared 10 of the 11 most prominent organizations in the nation to make use of its services, recently declared that it had raised $12M from Paytm and others since it seems to sign customers in Southeast Asia.
The new financing round of a 3-year-old startup, Series C, was financed by a grouping of Indian & international sponsors, including payments company Paytm & NPTK, an Asian VC fund, which spends in up-and-coming firms. Current sponsors Neoplux and Sabre Partners also joined the round, which drives the Bangalore-based startup to lifted $16.5M.
HungerBox provides management services to organizations and foundations to perk up and operate their in-house canteens and cafeterias. HungerBox even allows its clients to unite with food partners via a mobile app and get instant updates of their order.
The company, which even offers these agencies with a point-of-sale appliance, assists them in getting a better insight into the excellence of food being served to employees. Also, it enables planned delivery & tracking of orders to tackle the long queues, said the co-founder and chief executive of HungerBox, Sandipan Mitra in an interview.
“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.”
It turns out, at the time, a startup lastly looked into space; a lot of quickly jumped to value it. HungerBox has collective over 126 large organizations and institutions — with over 100,000 workforces each, all-around 18 Indian cities, stated Mitra. Swiggy and Zomato, the food delivery startups, have begun to discover this room, too, in the latest quarters.
HungerBox is handling 560,000 orders every day, a number that is mounting 10% every month, asserted Mitra. The solutions of a startup are employed at over 535 cafeterias for the customers that work in healthcare, IT or technology, education, financial services and manufacturing, retail, and aviation, he said. He refused to disclose the name of the customers, citing secret agreements.
The yearly food trades on the HungerBox podium have surpassed $100M, he said. The startup, which utilizes 1,500 people, will make use of the new capital to increase its development in 10 other Indian cities & to marketplaces in Southeast Asia, said Mitra.
Madhur Deora, in a statement, president of Paytm, stated HungerBox had allowed Paytm to insert new use scenarios for the organization’s payments business & digitization of offline transactions. He said, “HungerBox is the market leader in the institutional food tech space and we will partner closely with them and bring the benefits of Paytm’s ecosystem to HungerBox.”