MonkeyBox, a food-tech startup which delivers nutritious food to school children, has raised an undisclosed sum in its pre-series A round of funding from Blume Ventures.
Along with Blume Ventures, NB Ventures, Nspira and a couple of angel investors have also participated in this round. The newly raised funding will be used for expansion and future marketing campaigns.
Commenting on this, Sanjay Rao, Co-founder and CEO, MonkeyBox said,
One of our key focus at the moment is to expand to more schools across Bangalore. This round of funding will help us to start operations for our two new kitchens in Thanisandra in the north and Kudlu Gate in the east. We are aiming to cover 75% of Bengaluru with a target of reaching 12,000 subscriptions by end of the academic year 2018. The funding will also be used for on-boarding more employees into the circuit and for future marketing campaigns.
Ashish Fafadia, CFO at Blume Ventures said,
MonkeyBox has been providing nutritious, fresh and tasty food for school kids delivered at schools that makes results in a balanced-diet for kids while they relish tasty food. Their very high subscriptions are an indication of parent’s preference for this as a dependable alternative to home cooked food.
MonkeyBox was founded in October 2015 by Sanjay Rao and Sandeep KN. It provides healthy vegetarian meals designed by nutritionists that are balanced and portioned as per the Recommended Dietary Allowance (RDA).
The company claims to have close to 2,000 subscribers for meal boxes between the age group of 3 to 18 years old. It also delivers to daycare and Montessori schools for children in the group of 1-3 years. The startup has also partnered with local farms and distributors for supplying fresh ingredients for the meals.