Full-stack foodtech platform BOX8 raises $40 million led by Tiger Global
The company, which recently added GLOBO Ice Cream and ZAZA Biryani to its portfolio, operates eight brands out of more than 150 cloud kitchens.
“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.
EatClub Brands was founded in 2012 by Raj and Anshul Gupta, both IIT grads, and began with BOX8, a brand noted for its all-in-one meals and desi packaging.
BOX8 was one of the first direct-to-consumer (D2C) firms to break the Rs 100-crore revenue barrier in the cloud-kitchen industry.
MOJO Pizza, the company's home-grown pizza delivery brand, has raked in over Rs 150 crore in revenue, according to a release.
In Mumbai, Bengaluru, Pune, NCR, and Hyderabad, the company has cloud kitchens that provide over 1.5 million meals per 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.
Wow! Momo and Chaayos are two of Tiger Global's other D2C foodtech investments in India. Progcap, CoinSwitch, Spinny, Porter, Mensa Brands, G.O.A.T. Brand Labs, DealShare, Koo, and Zolve are among the companies that the investor has backed.