India: Food tech startup HungerBox raises $12m from Paytm, others

Photo by Herson Rodriguez on Unsplash

Bengaluru-based B2B food tech company HungerBox Tuesday announced that it has raised $12 million from Indian digital payments major Paytm, and others as it looks to expand services in Southeast Asia.

Other investors to participate in the round include NPTK, an Asian venture capital fund, Indian private equity fund Sabre Partners, and Neoplux.

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.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.