View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
May 29, 2019updated 30 May 2019 12:17pm

Food tech firm HungerBox to raise $15m in Paytm-led funding round

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.

India-based business-to-business (B 2B ) food-tech firm HungerB ox is reportedly set to raise $15m in a funding round led by e-commerce payment system and digital wallet company Paytm.

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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: “HungerB ox 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 (HungerB ox) has grown over three times in the last one year.”

Established in 2016, HungerB ox 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 , AB B , B IAL, 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 HungerB ox on its app.

In July last year, HungerB ox secured $4.5m in the Series A investment round and a $2.5m pre-series A funding in January last year, reported the ET.

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Verdict Food Service