Paytm Invests in Corporate Food Solutions Startup HungerBox

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Bengaluru-based food catering startup Hungerbox has raised INR 15 crore in Series C funding round from Paytm parent company One 97 Communications and Sabre Partners Trust.

According to the Ministry of Corporate Affairs filings, the company is raising a ₹ 57.99 crore ($8.1 Mn) Series C funding round, of which ₹15.99 crore ($2.23 million) has come in. The details showed that One 97 Communications has picked up 17,013 Series C shares at a nominal value of ₹100 with a premium of ₹7,541.03 worth ₹12.99 crore.

At the same time, Sabre Partners Trust has picked up 3,926 Series C shares at a nominal value of INR 100 with a premium of INR 7,541.03 worth INR 2.99 Cr ($418.3K).

We further noted that this is the first tranche of the INR 57.99 Cr round, and the rest is expected to come in the second tranche. In the second tranche, One 97 Communications has been offered 44,667 shares worth INR 34.13 Cr ($4.75 Mn), bringing the total investment by Paytm to INR 41.12 Cr.

Founded in 2016 by Sandipan Mitra and Uttam Kumar, HungerBox aims to revolutionise the corporate cafeterias and food courts. The company’s technology includes pre-ordering, live order tracking, digital payments, feedback management, and cafeteria density tracking.

Using the HungerBox app, employees can view the F&B menu provided by all enlisted food vendors at their workplace cafés, place orders and track delivery, and also provide ratings and feedback. The company’s corporate clients include Qualcomm, Microsoft, Accenture, and McKinsey.

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