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Sat, 30 Mar 2019 | Inc42
Inc42

Foodtech Startup Box8 Raises $15 Mn In Series C Round led By eWTP Ecosystem

Mumbai-based foodtech startup Box8 has raised $15 Mn in its Series C funding round, led by eWTP Ecosystem Fund. The company’s existing investors Mayfield and IIFL Seed Ventures fund will also participate in this round. The company said it plans to scale its business geographically to five more cities with 100 more kitchens in the next 12 months. They are also planning to invest the new funds in talent  and technology.

Commenting on the fund, Anshul Gupta cofounder of Box8 told Inc42,  “We are solving two big problems: on-demand preparation of high-quality food and delivering it piping hot within 25 mins. To keep doing this at scale, we would double down on tech.”

A $6.23 Mn funding by eWTP was first reported by data platform paper.vc in its March 29 newsletter. According to a Ministry of Corporate Affairs filing accessed by Inc42, Redefine Capital Fund (eWTP Ecosystem entity) has acquired 1,603 compulsorily convertible preference shares (CCPS) in Box8 at the premium of INR 2,71,611.

The remaining contributions from existing investors will be filed soon, Amit Raj, cofounder of Box8 said.

Foodtech Startup Box8 Secures $7.5 Mn Series B Funding From IIFL Seed Ventures Fund & Mayfield

This new funding brings Box8’s total funding amount to around $27 Mn. Other existing investors in the company are Trifecta Capital, IIFL Seed Ventures Fund, Mayfield Ventures, Indian Angel Network and three angel investors.