Paytm may lead $15 million funding round in Bengaluru-based Hungerbox

Paytm will lead $15 million funding round in Bengaluru-based food catering platform HungerBox. This fundraising round will also be seeing participation from the company’s existing investors.

Paytm’s move is marking its foray into the organised food technology for institutions category. It will help the company to tap into the high-frequency B2B food ordering business. 

HungerBox had raised $4.5 million in a Series A round in July 2017. This round was led by Neoplux and Sabre Partners, an India-focused private equity fund. Singapore-based Lionrock Capital and Kris Gopalakrishnan, Co-Founder of Infosys, also participated in the round. 

A person aware of the deal said, “HungerBox has been growing three times year-on-year, and it fits in with Paytm’s strategy of a deep integrated play across all categories.”

“Paytm’s O2O strategy involves launching PoS and invoicing for merchants. Similarly, the HungerBox investment is an entry into the food and beverage management solutions business from the merchant’s side,” he further stated.