Bengaluru-based HungerBox, a B2B food-tech company, on Monday announced closing of US $2.5 million in pre-series A funding led by Lionrock Capital and Infosys Co-founder Kris Gopalakrishnan.
Started in 2016, HungerBox is a full stack, foodtech company that is focussed on the B2B space and operates over 100 digital cafeterias for more than 75 corporate clients, including Qualcomm, Microsoft, FirstSource, Accenture, Capgemini, Genpact, ABB, Amazon and McKinsey in Bengaluru, Chennai, Hyderabad, Mumbai, Pune, Delhi/NCR and Jaipur.
“HungerBox’s business has scaled tremendously over the last 15 months with nearly seven million orders placed on our platform till date. We are clocking more than 120,000 daily orders and expect to scale this to half a million orders per day by end-2018,” said Sandipan Mitra, CEO and Co-founder, HungerBox.
Mitra added, “The funding we have received from marquee investors will boost our ability to scale our operations to keep pace with the traction we are seeing for our digital cafeteria management solution.”
Kris Gopalakrishnan said, “There is tremendous potential for innovation in the B2B foodtech arena as corporate spends on F&B are already massive and growing year-on-year. HungerBox addresses this large space with an easily scalable model and an end-to-end solution that provides a win-win to employees as well as to corporate clients.”
“The B2B food space has plenty of headroom for growth and innovation for years to come. The winners in the sector will be those with a powerful, tech-led offering and the ability to scale in-step with their clients. HungerBox certainly has all the credentials to be a leader in this space,” said Hari Kumar, Founder and CEO, Lionrock Capital.
Spending on F&B in the B2B space alone is estimated to reach US US $14 billion in India in 2018. The space is growing at 15 per cent per annum.