Paytm is looking to lead a $15 million funding round in food catering company, HungerBox. According to the reports, the firm’s current investors such as Neoplux, Sabre Partners and LionRock Capital will also take part in this round of fund-raising. This transaction will mark the entry of Paytm into the organised food technology for institutions category. This will further allow the company to tap into the high frequency B2B food ordering business.
HungerBox claims to have processed over 50 million orders since its inception. The company has over 1,100 vendors and more than 100 corporate clients on its platform. As per the reports by TOI, ‘This space is attractive and HungerBox has grown over three times in the last year.’ This decision might also lead to the integration of HungerBox on Paytm.
Source: Times Of India