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The Silicon Review Asia

Paytm to lead a $15 million funding in HungerBox, a food catering business

Paytm to lead a $15 million funding in HungerBox, a food catering business

Paytm is reportedly investing in HungerBox, a Bengaluru-based startup for corporate catering. The company is leading a $15 million round of funding in HungerBox, a food catering platform for enterprises, marking its entry into the B2B food ordering business. The fund-raising will also be supported by HungerBox’s existing investors.

Paytm aims to launch invoicing and PoS (Point of Sale) for merchants.The company’s investment in HungerBox appears as its strategy to enter into the food and beverage management industry. The firm will soon commence the process of integrating HungerBox with its platform. However, both the company has denied revealing any information.

Corporate catering is a flourishing business as it involves repeat orders. This makes it a promising sector to invest in. Last year, TongueStun Food, a Bengaluru-based startup was acquired by Zomato in an estimated $18 million deal. Swiggy launched Swiggy Food Court to digitize corporate cafeterias in an attempt to enter into the B2B food business but soon suspended the project.

In 2017, HungerBox, founded by Sandipan Mitra and Uttam Kumar, raised $4.5 million in Series A round of funding led byNeoplux and private equity firm Sabre Partners specializing in middle market investment. Since its inception in 2016, the company claims that it has processed more than 50 million transactions.

Its technology includes live order tracking, pre-ordering, digital payments, cafeteria density tracking, and feedback management.

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