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Food tech startup Box8 raises Rs 21 Cr from Mayfield Fund

Early-to-growth-stage
venture capital firm Mayfield Fund has invested Rs 21 crore in food technology
startup Box8.

The funds raised
will be used to build a seamless customer experience across its mobile and web
platforms. Currently, over 50% of Box8’s orders come through the mobile phone.
Its integrated delivery management system guarantees fresh hot food is
delivered each time. Box8’s early focus on technology and innovation has
resulted in making their ordering experience best in class.

Early-to-growth-stage
venture capital firm Mayfield Fund has invested Rs 21 crore in food technology
startup Box8.

The funds raised
will be used to build a seamless customer experience across its mobile and web
platforms. Currently, over 50% of Box8’s orders come through the mobile phone.
Its integrated delivery management system guarantees fresh hot food is
delivered each time. Box8’s early focus on technology and innovation has
resulted in making their ordering experience best in class.

“We want
our customers to keep coming back to us and therefore making the end-to-end
experience frictionless for our customers is very important. We manage the
technology, product and delivery therefore allowing us to have complete control
over customer experience,” said Amit Raj, Co-Founder of Box8.  

Founded in 2012
by Raj and Anshul Gupta, the Mumbai-based startup Box8 is also backed by a
number of angel investors, including Mu Sigma founder Dheeraj Rajaram, Kaushal
Aggarwal, co-founder and managing director of leading investment bank Avendus
Capital and Indian Angel Network, the country’s first and largest angel
network.The startup has 22 delivery units across the city, and claims to do over
2,000 transactions per day.

With over 2,000 transactions per day, Box8 has
grown 10x in the last 15 months. The Company’s focus on taste, technology and
innovation has resonated well with its customers, as 80% of its daily
transactions come from repeat customers.

Box8 will also
be expanding its team. “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.” says Anshul Gupta, co-founder, Box8.

“We have
met multiple companies in the food space, however Box8 is one of the most
exciting and innovative start-ups we have come across,” said Nikhil Khattau,
managing director of Mayfield Fund.

Prior to the
investment by Mayfield, Box8 has received funding from Kaushal Aggarwal of
Avendus Capital, Dheeraj Rajaram of MuSigma and Indian Angel Network.

 

 

 

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