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Exclusive: Grubox raises Fresh Funds in Bridge Round from Benext & Pravega Ventures

Unmanned retail store platform Grubox has raised fresh funds amounting to nearly INR 15 Cr in a bridge round. Existing investors Pravega Ventures and Benext participated in the funding round.

The company had raised funds from these two investors in February and March. According to regulatory filings, the Gurugram based company had allotted 348 preference shares each to Benext and Pravega Ventures for the total contribution of nearly Rs 15 Cr.

Regulatory filings also disclosed that Grubox raised nearly 20 Lakh from another existing investor Khushagra Sharma.

Techpluto will be contacting Grubox’s founder Nishant Misra to know about how the company is going about in utilizing these funds. We’ll be updating the story if we do get the response from Mishra.

It must be noted that Pravega Ventures and Benext had also participated in company’s seed funding in January 2018. At that time the startup had raised $235.9K through seed fund, according to Crunchbase.

Founded in 2016, Grubox claims to be India’s first ML tech driven unmanned kiosk. Through its kiosks, customers can avail wide variety of fresh snacks, drinks and meals 24/7 and 365 days. These unmanned kiosks spares you from the pain of placing and waiting for the orders Most of these kiosk are currently placed at various corporate offices.

The company claims that several high profile corporates including KPMG, Canon, PWC, American Express and Panasonic among its customers. The company reportedly claims to have a annual run rate of $1.5 Mn.

As per the financial statement filed with the regulatory filings, the company earned a revenue of nearly 2 Cr in FY19. This an increase nearly 3X as compared to FY18 when it clocked annual revenue of nearly Inr 51 Lakh.

Earlier this year, a similar unmanned and contactless retail store platform  Gobbly had raised $500,000 in seed funding from Sauce.VC.

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