Mumbai-based on-demand food delivery company Box8 has raised Rs 50 crore in a Series B funding round led by IIFL Seed Ventures Fund, and existing investor Mayfield Fund.
Started as Poncho in 2011, by IIT alumni Amit Raj and Anshul Gupta, the Mexican food serving restaurant rebranded itself as Box8 and changed its menu to Indian food in January 2014.
The company will use the investment to go deeper into the cities where they are currently present and start operations in Delhi, Chennai, and Hyderabad in the next 12 months. Apart from geographical expansion, Box8 also wants to invest in technology,” co-founder Anshul Gupta said.
In April this year, Box8 found itself mired in controversy when 20 students suffered food poisoning after consuming food it delivered at an education event in Mumbai. The Food and Drug Administration (FDA) gave a clean chit to the company in June.
