India-based business-to-business (B2B) food-tech firm HungerBox is reportedly set to raise $15m in a funding round led by e-commerce payment system and digital wallet company Paytm.
Sources familiar with the matter were reported by The Times of India, as saying that the round will see participation from existing investors, namely South Korea-based Neoplux, private equity fund Sabre Partners, and Singapore-based LionRock Capital.
A source aware of the development was quoted by Economic Times (ET) as saying: “HungerBox has been growing three times year-on-year, and it fits in with Paytm’s strategy of a deep integrated play across all categories.”
A person aware of the investment talks said: “This space is attractive and the company (HungerBox) has grown over three times in the last one year.”
Established in 2016, HungerBox operates corporate cafeterias and food courts across 11 cities in India. The company has processed more than 50 million transactions to date.
The food tech firm offers various services pre-ordering, live order tracking, digital payments, feedback management, cafeteria density tracking and more.
It also serves a range of corporate clients including Accenture, Capgemini, HCL, Wipro, Microsoft, Qualcomm, Microsoft, Tata Motors, ABB, BIAL, mPhasis, Lowe’s and many more.
Paytm has already integrated online food ordering and restaurant discovery platform Zomato, which acquired online corporate catering marketplace TongueStun Food in September last year.
Following the completion of the deal, Paytm and may integrate HungerBox on its app.
In July last year, HungerBox secured $4.5m in the Series A investment round and a $2.5m pre-series A funding in January last year, reported the ET.