A Bengaluru-based business to business foodtech company called ‘HungerBox’ has secured an amount of $4.5 million in a Series A funding round led by Sabre Partners and Neoplux which is a South Korean investment company.
Along with these investors, the funding round witnessed participation of Infosys Co-founder Kris Gopalkrishnan and Lionrock Capital, who have been the existing investors in the startup.
“HungerBox’s strength of their technology-led solution, deep penetration into large corporate accounts and carefully calibrated growth means their business is extremely robust. We are delighted to partner this exciting company as they harness the potential for disruption in the corporate catering space in other markets beyond India,” said Alex Noh, Head of Cross-border Investment at Neoplux.
This news has come five months after the company raised $2.5 million in pre-series A funding in January, led by Lionrock Capital and Gopalakrishnan. The foodtech company intends to utilize the funds so raised to expand and increase the growth rate of the company. It has plans to expand into the South East Asian market.
Started in 2016 by Sandipan Mitra and Uttam Kumar, HungerBox is a B2B technology company delivering food solutions for the corporates in the country. The company aims to improve the productivity of corporate employees by providing them with a technology-driven food experience focusing on safety and health. The company claims to be serving over 100 clients across India and continues to delight them every day with our services.
Talking about the details, the company has over 6 million orders per month across 160 digital cafeterias managed by them. The clients of the company include Qualcomm, ABB, Microsoft, Accenture, McKinsey, Genpack FirstSource and CapGemini.
Sandipan Mitra, Co-founder and CEO of HungerBox said, “We are now present in nine cities. Many of our clients are MNCs and we have been receiving many requests to support them in markets outside India. Having marquee investors place their faith in us boosts our prospects, especially as we expand our operational footprint.”
The company stated that it is on the path of growth as the employee base of HungerBox has doubled in less than six months. Along with this, the orders of the company have increased to 2,00,000 from 1,20,000 in less than six months.