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HungerBox, which delivers six million orders per month in more than 160 digital cafeterias, addresses such customers as Qualcomm, Microsoft, Accenture and McKinsey.
New Delhi: The HungerBox start-up announced Thursday that it had raised $ 4.5 million in a series A roundtable led by the South Korean investment firm Neoplux and Saber Partners, a private equity fund. LionRock Capital (Singapore) and Infosys co-founder Kris Gopalakrishnan also participated in the round, which allowed LionRock and Gopalakrishnan to raise $ 2.5 million in a pre-series A round in January. of this year. 03] The Bengaluru-based start-up, which addresses businesses, plans to use the funds to boost rapid growth in India and fuel the company's expansion into the market from Southeast Asia. A technology-driven solution, deep penetration into large corporate accounts and carefully calibrated growth mean that their business is extremely robust. We are excited to be partnering with this exciting company as it harnesses the potential for disruption in the business catering sector in other markets beyond India, "said Alex Noh, head of cross-border investments at Neoplux.
HungerBox, which places six million orders per month in over 160 digital cafeterias (business cafeterias running through an app, bringing in partners like FreshMenu as a counter in the cafeteria), address at Qualcomm, Microsoft, Accenture and McKinsey. Spending on food and beverages in the business-to-business space alone is expected to reach $ 14 billion in India in 2018, with annual growth of 15%.
"Many of our clients are multinationals and we have received many requests for us to support them in markets outside of India.The fact that branded investors place their trust in us stimulates our prospects , especially as we expand our operational footprint, "said Sandipan Mitra, CEO and co-founder of HungerBox.
Founded in 2016 by Sandipan Mitra and Uttam Kumar, HungerBox uses technology such as Internet of Things ( IoT) to connect suppliers and employees of the company while providing personalized recommendations to employees through its technology based on artificial intelligence.The start-up is currently present in Bangalore, Chennai, Hyderabad, Mumbai, Pune, Delhi / NCR, Jaipur and Kolkata
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