[Funding alert] Cloud kitchen startup BOX8 raises $40M from Tiger Global, rebrands to EatClub Brands
With this additional funding, the startup plans to rapidly scale geographically to 500+ kitchens in 15 cities.
Wednesday December 01, 2021,
2 min Read
Poncho Hospitality, the parent company of cloud kitchen startup, rebranded to EatClub Brands on Wednesday after raising $40 million in a round led by Tiger Global.
Founded by two IIT graduates Amit Raj and Anshul Gupta, the company prepares and delivers meals and snacks using its extensive delivery fleet. EatClub Brands started out with BOX8, which is known for its all-in-one meals and Desi Box. It was an early mover in the cloud kitchen space, and was one of the first D2C brands to cross the Rs 100 crore revenue mark.
EatClub Brands which also operates the brand — MOJO Pizza has become the largest home-grown pizza delivery brand clocking over Rs 150 crore in revenue.
Speaking about the new capital, Amit Raj, Co-founder, EatClub Brands (formerly BOX8) stated,
“We have deliberately spent time in building deep capabilities in food, technology, and operations. With this additional funding, we now plan to rapidly scale geographically to 500+ kitchens in 15 cities. We are planning to aggressively on-board talent and build robust teams — the backbone of our organisation.”
“In our quest to make good food more affordable for all, we plan on acquiring delivery-first food brands that are loved by customers. With the scale and expertise, we have built we can help these brands with expansion, operations and marketing. They can capitalise on our proprietary technology stack and existing kitchen network as well,” added Anshul Gupta, Co-founder, EatClub Brands.
They operate in 150+ cloud kitchens across five cities in India — Mumbai, Bengaluru, Pune, Delhi-NCR, and Hyderabad — delivering over 1.5 million meals every month.
“EatClub Brands is re-imagining how kitchens can operate through its innovative tech-first, full-stack cloud kitchen model. We are impressed with the company’s ability to achieve scale and customer loyalty, first with BOX8 and then with MOJO Pizza, while achieving impressive unit economics, and we are excited to partner with them as they continue to grow,” said Griffin Schroeder, Partner, Tiger Global.
The investor has also backed startups such as G.O.A.T. Brand Labs, CoinSwitch, Spinny, Porter, Mensa Brands, DealShare, Koo, and many more.
Edited by Kanishk Singh