HungerBox, one of India’s largest B2B foodtech sector players, has raised $12 Mn in its latest series C round. Digital payment major Paytm and clutch of international investors including NPTK spearheaded the round. Existing investors including Sabre Partners and Neoplux also infused funds in the funding round. Following the latest funding round, HungerBox’s total fundraising amount has now risen to $16.5 Mn.
This is the second time that Paytm has infused funds in the Bengaluru headquartered foodtech company. Earlier this year, the Alibaba and SoftBank backed company had infused $2.23 Mn in the foodtech major. Speculations were rife that HungerBox was also chasing Naspers –largest investor in Swiggy – for fundraising. However, it now looks that their talks have hit a major roadblock.
HungerBox may use the latest fund infusion for expanding its footprints across international markets, with the startup specifically targeting the Southeast Asian markets. The company is also likely to use the funds for ramping up its operations across 10 Indian cities.
With large funds at its disposal and huge client base, HungerBox has been often touted as the Zomato and Swiggy of the B2B foodtech sector world. Its client portfolio includes some of the top companies and global MNCs.
HungerBox essentially provides management and logistic support to companies for improving their catering services. It does this by enabling caterers to connect with their customers through an app and get a real time update about their orders. It also offers point-of-sales machine and giving better insight into customer feedback and food quality among other services.
HungerBox claims that it processes 560,000 orders every day and annual sales to have exceeded beyond$100 Mn.
B2C players have always dominated India’s foodtech sector with today Swiggy and Zomato almost becoming household brand. But investors are steadily awakening to big opportunities in the B2B space.