Bengaluru-based full-stack B2B foodtech startup HungerBox has raised ₹85 crores ($12 million) from Indian digital payments giant Paytm, along with NPTK, Sabre Partners Trust and Neoplux, as reported by Inc42. With the fresh funding, HungerBox has raised a total of $16.5 million so far.
The latest funding will be used by this three-year-old startup to expand into new geographies in Southeast Asia. The startup is also looking to expand its reach to schools, educational institutions and multiplexes.
Earlier this year, it was reported that Paytm was likely to lead a ₹100 crores ($15 million) round in HungerBox.
This funding comes after it was reported that Paytm is looking to invest ₹500 crores in early-stage tech startups.
Founded by Sandipan Mitra and Uttam Kumar in 2016, HungerBox is a full-stack B2B food tech company that delivers food solutions for the corporates in India. With a presence across 14 cities in India, it provides seamless F&B management solutions by leveraging cutting edge technology. The startup boasts of over 100 corporate clients and claims to process 500,000 orders per day. It is also looking to achieve the target of 1 million orders a day by the first half of March 2020.
India’s foodtech space is booming with startups like Zomato, Swiggy and UberEats. By catering to corporate clients, HungerBox has grabbed a huge opportunity and carved a niche in the industry.
Last year, HungerBox raised ₹30 crores in series A funding.