Corporate and office food caterer HungerBox has secured $12 million in a Series C funding round from Paytm, NPTK Emerging Asia and existing investors Sabre Partners and Neoplux.
The Bengaluru-based company would deploy the fresh capital to enter new geographies in Southeast Asia and expand its reach to schools, colleges and food courts in malls.
HungerBox is also aiming to reach 1 million orders a day by the first half of 2020, said the company in a press release.
The latest investment round takes HungerBox’s total funding to $16.5 million till date. Previously, the company had raised Rs 16 crore in a Series C funding round from Paytm’s parent One97 Communications and Sabre Partners in August this year.
Promoted by Growth Story and founded by Sandipan Mitra and Uttam Kumar in 2015, HungerBox is a full-stack food tech company that is focussed on the B2B space. It primarily offers end-to-end solutions and services catering to the F&B needs of corporates.
With an asset-light model, it operates with over 500 digital cafeterias and more than 120 corporate clients, including Qualcomm, Microsoft, FirstSource, among several others, says the company’s official website.
The company generates revenue by charging a commission of about 10% of the overall food sales from vendors who have resulted in the platform’s annual food sales crossing $100 million.
At present, HungerBox employs 1500 staff across India and uses the latest technology advancements like IoT in its solutions to connect vendors with the employees of the corporates.
Currently operational in 14 Indian cities including Bengaluru, Chennai, Hyderabad, Mumbai, Pune, Delhi/NCR, Jaipur, Mysore, and Kolkata, among others, the company clocks more than six million orders a month.
HungerBox competes with Centerplate and Box8, amongst a few others, in this space.