Full-stack foodtech platform BOX8 has raised a funding round of $40 million from tech investment giant Tiger Global and also rebranded itself to EatClub Brands, the Mumbai-based startup said on December 1.
Eight brands operate out of more than 150 cloud kitchens of the company that recently added GLOBO Ice Cream and ZAZA Biryani to its portfolio.
“We have deliberately spent time in building deep capabilities in food, technology & operations. With this additional funding, we now plan to rapidly scale geographically to 500+ kitchens in 15 cities,” said Amit Raj, Co-Founder, EatClub Brands. The company was also planning to on-board talent and build robust teams, he said.
Founded by Raj and Anshul Gupta, both IIT graduates, in 2012, EatClub Brands started out with BOX8, known for its all-in-1 meals and desi box.
An early mover in the cloud-kitchen space, BOX8 was among the first direct-to-consumer (D2C) brands to cross the Rs 100- crore revenue mark.
Its MOJO Pizza has emerged as the largest home-grown pizza delivery brand, clocking over Rs 150 crore in revenue, the company said in a statement.
The company has cloud kitchens in Mumbai, Bengaluru, Pune, NCR and Hyderabad delivering more than 1.5 million meals a month.
“We are impressed with the company’s ability to achieve scale and customer loyalty, first with BOX8 and then with MOJO Pizza, while achieving impressive unit economics, and we are excited to partner with them as they continue to grow,” said Griffin Schroeder, Partner, Tiger Global.
Tiger Global's other D2C foodtech investments in India include Wow! Momo and Chaayos. The investor has also backed startups like Progcap, CoinSwitch, Spinny, Porter, Mensa Brands, G.O.A.T. Brand Labs, DealShare, Koo and Zolve.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
