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Mayfield pumps Rs 21 crore in Mumbai based food technology startup Box8

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MUMBAI: On-demand food delivery service Box8 has raised approximately Rs 21 crore in Series A funding from US-based venture capital fund Mayfield. Founded by IIT graduates Amit Raj and Anshul Gupta in 2012, Box8 is one of the front-runners in India?s Rs 50,000-crore food tech market.

One of its best-selling products, ?all in one? meal box was developed keeping in mind the hectic and fast paced life of the Indian consumer. The company?s strength lies in its strong development team, which comprises experienced chefs from ITC and Marriott Hotels. 

?We keep only one thing in mind when we make our food; that we would only serve food that we enjoy eating. Food is a tricky business. It has many moving parts and is very personal to customers,? says Raj.

Having 22 delivery units across Mumbai, with over 2,000 transactions per day, Box8 has grown 10x in the last 15 months. Keeping a focus on taste, technology and innovation has resonated well with its customers, as 80 per cent of its daily transactions come from repeat customers. Therefore, the funding comes at a welcome time when they not only need to keep their quality consistent but more man power on board.

?We have over 30 IITians in our team and we would like to hire more such talented individuals from different backgrounds. Execution is the key to the success of this business and we want to build a team, which focuses on getting the job done,? added Gupta.

Box8 is also backed by multiple angel investors, including Mu Sigma founder Dheeraj Rajaram, Avendus Capital co-founder and managing director Kaushal Aggarwal and Indian Angel Network.

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