- Online Beauty Retailer Nykaa Records 10 Lakh Subscribers - February 21, 2020
- Ixigo Trains is the World’s 6th Most Downloaded Travel Application - January 24, 2020
- Ratan Tata Invests in CabCompany Ola’s Electric Vehicle Project - January 2, 2020
Box8 is India’s food delivering a platform with its 110+ outlets in cities around India. Founded in 2012 by two IIT graduates – Amit Raj and Anshul Gupta. With 22,000+ orders every day, Box8 is one of India’s fastest growing startup. The Mumbai-based food-tech startup has raised $15 million in its series C funding round, headed by Chinese fund eWTP Ecosystem fund. The company’s existing investors such as Mayfield and IIFL seed ventures were also part of this funding series.
Box8 has started its Series C round and already raised $6.2 million from ReDefine Capital. Box8 said they are planning to extend their business to five more cities with 100 more kitchens in the next 12 months. There plan is to invest the new funds in aptitude and automation. Box8 now value about $106 million after the recent fundraising Series C round.
Anshul Gupta commented on this funding saying, “We are resolving two big complications such as On-demand preparation of excellent quality of food and 25-minute delivering operations. To upkeep this at proportion, we would double-down on tech.”
Formerly, Box8 has raised around $3.5 million from Mayfield funding and different investors including Mu Sigma Inc. Founder and chief executive Dhiraj Rajaram and Kaushal Agrawal, co-founder Avendus Capital.
Zomato, Swiggy, and UberEats have been competing to gain market with the upcoming series C round. It is expected to elevate more capital from existing investors with the anticipated involvement of new investors. Box8 is one of the few firms that has been able to endure in the e-food market. Unlike, TinyOwl, Eatlo, and Spoonjoy, who’s market were shut due to lack of investments.
Box8 was founded is a full-mass cloud Kitchen startup which means that it possesses the whole food value chain, from the acquisition of excellent quality ingredients to food preparation to the last mile delivery. The company has its outlets in Mumbai, Delhi, Pune, Bangalore, Gurugram and other cities.
“Conventionally, Restaurants simple have had a different mannerism, which is all about an acquaintance with food and is meant t be eaten immediately. We are a delivery first company, designing our food keeping in mind that it will be a movement for another 15 minutes. Our internal fleet delivers 100% of the orders, this was given us even better control over the food quality,” The CEO of Box8 Amit Raj said.