The latest round, which takes the startup’s total funding to $16.5 million to date, will be used to enter new geographies in Southeast Asia. Additionally, the funds will be used to expand reach to educational institutes, hospitals and multiplexes within India.
Founded in 2016, by Sandipan Mitra and Uttam Kumar, HungerBox uses technology like internet of things (IoT) to connect vendors and corporate employees while providing personalized recommendations to employees through its artificial intelligence driven technology.
The startup works in sectors like IT/ITES, product, retail, automobile, healthcare and more, and counts Accenture, Capgemini, HCL, Wipro, Microsoft, Qualcomm, and Tata Motors among its clients. HungerBox claims to process 5 lakh orders a day.
According to a report in The Economic Times, it plans to reach 1 million orders a day by the first half of 2020. HungerBox is operationally breakeven and going overseas would be a significant part of the strategy, the report added.
It had last raised $4.5 million in a Series A funding round led by South Korean investment firm Neoplux and Sabre Partners in July last year. Industry stalwarts like Kris Gopalakrishnan (founder of Infosys) and K. Ganesh are among the investors in the company.