Bengaluru-based MonkeyBox, a startup that delivers nutritious meals to school children has acquired 75 In A Box in an all-stock deal.
Founded by Chetan Pal, Dinakar Raju, Jayesh Sada and Veeraraghavan Vasudevan in August 2016, Bengaluru-based 75 In A Box delivers healthy food to corporates.
Sanjay Rao, Co-founder & CEO of MonkeyBox told Entrackr that Raju and Vasudevan, along with a team of 10 members, have joined MonkeyBox. 75 In A Box will continue to operate under the same brand, but now will be a subsidiary of MonkeyBox.
The acquisition will help MonkeyBox to expand its product offering to adults. The services will be officially launched on January 2 across the city, including Koramangala, HSR Layout, Indiranagar, Whitefield, Sarjapur, JP Nagar and CBD.
MonkeyBox was launched by Sanjay, Sandeep Kannambadi and Vijay Bharadwaj in October 2015. The three co-founders had earlier founded a sports analytics platform called SportingMindz in 2006, which was also backed by Blume Ventures. The startup was shut down in 2012.
Since its inception, the firm has raised around $2 million in funding from investors such as Blume Ventures, NB Ventures, and Nspira. Blume Ventures and a clutch of high net-worth individuals (HNIs) had invested an undisclosed amount in seed funding round of MonkeyBox in November, last year.
With 2,00,000 meals served till date and FSSAI certified kitchens, MonkeyBox offers options for every meal right from Indian, Continental, and Pan-Asian cuisines. Currently, the meal delivery startup claims to have 6,000 subscribers and processes nearly 12,000 orders daily across 150 schools in south, east and the northern suburbs of Bengaluru.
In May this year, MonkeyBox had acquired Delhi-based cold-pressed juice manufacturer and delivery firm RawKing in an all-cash deal.
The company also plans to expand to cities such as Hyderabad, Chennai, Mumbai, Delhi, and Pune, where millions of working parents struggle with the same problem. Other startups in this space include KidsTiffin and sCoolMeal, amongst a few others.
The development was first reported VCCircle.
