Deal Street: Paytm Shows Appetite For This Food Tech Startup
Three startups collectively raised $44 million last week across sectors such as food, deep tech and healthcare.
Three startups collectively raised $44 million last week in venture capital funding across sectors such as food, deep tech and healthcare. Here’s what went on...
HungerBox Adds $12 Million To Its Cart
HungerBox, a food and beverage management systems startup, raised $12 million (Rs 85.14 crore) from a series of investors, including Paytm and NPTK Emerging Asia Fund (India).
Existing investors such as Sabre Partners and South Korea-based Neoplux also participated in the fundraising, the company said in a statement.
The Bengaluru-based startup said it aimed at using the funds to expand its operations in at least 10 more cities and to other markets in Southeast Asia.
Founded in 2016, the company provides technology-backed end-to-end food and beverage operations to more than 120 businesses and institutions across 18 Indian cities. It finds vendors, maintains food quality, supervises delivery to cafeterias and distribution of food to employees.
Based on the reimbursement benefits offered by the companies, employees can avail services offered by the platform through a mobile phone. They can access a food and beverage menu offered by enlisted vendors at their workplace cafes, place orders and get it delivered. The app also offers the facility to pre-order, make digital payments and live tracking of orders, among others.
The startup—that boasts of clients such as Accenture, Wipro, Microsoft and Tata Motors, among others—is now looking to handle more than a million orders daily by March next year, up from 0.5 million orders from more than 535 cafeterias it manages for its clients, it said.
“This latest investment not only validates what we’ve achieved but is also a striking endorsement of HungerBox’s future prospects, providing us with the boost we need to deliver on the challenge of even faster growth,” Sandipan Mitra, co-founder and chief executive officer of HungerBox, said.
Watch | BloombergQuint’s conversation with HungerBox’s Sandipan Mitra here...
Multiples PE Bets On Big Data Startup
Big data startup Quantiphi Inc. raised $20 million (Rs 142 crore) in a fresh round of funding led by Multiples Alternate Asset Management, a Renuka Ramnath-led private equity firm.
The company aims to use the funds to expand its presence in the U.S. as well as explore new markets in Europe, according to a statement. A part of the investment will also be used to boost sales and management team, and improve its research and development operations.
“This is the result of a powerful combination of four founders bringing in complimentary skills, a highly skilled and customer-obsessed team of more than 1,000 engineers, and an impeccable client roster,” Ramnath said in the statement.
Founded in 2013, the company provides applied artificial intelligence and big data solutions to global Fortune 500 clients across sectors such as insurance, healthcare, retail and education-technology. The startup claims to have more than 1,000 employees across offices in Boston, New Jersey, Toronto, Mumbai and Bengaluru.
Healthcare Startup Raises Series B Funding From Sequoia, Others
Pristyn Care, a healthcare startup, raised $12 million (Rs 85 crore) in a growth funding round led by Hummingbird Ventures, Greenoaks Capital and AngelList.
Existing investor Sequoia Capital participated, the company said in a statement. Pristyn Care said it aimed at using the funds to invest in technology and operations.
Founded in 2018, the platform provides advanced surgery options at 30-40 percent discount to larger hospitals with the help of its asset-light and technology-enabled approach.
The startup has more than 70 clinics and 250 partner hospitals across 14 cities. It also claims to have over 70 in-house super-speciality surgeons with an expertise in general surgery, ENT, urology, gynecology, vascular and cosmetic surgeries. The company said it has built capabilities to facilitate hassle-free insurance clearance for its patients.