Box8 is one of those companies which has targeted a market that is huge. The company has managed to hit the right nerves and is operating in four cities as of now. The company is a cloud kitchen based startup which does not have an open restaurant. It is purely based on delivery. It is trying to kill two birds with one arrow when it comes to the Indian market.
The Mumbai-based company was founded in 2012 and is only seven years old. It was founded by two IIT graduates and has come a long way since. To neatly introduce Box8, it is a full-stack online food delivery startup which delivers hot food in literal boxes. The company operates in four cities as of now – Mumbai, Pune, Bangalore, and Gurgaon. Amit Raj and Anshul Gupta are the two IITians behind Box8. The areas mentioned are majorly made of cities with students and bachelors along with people migrating for business.
Targeting these areas has made the company a success. It currently delivers a million boxes every month from its 110 or more outlets in the cities mentioned. That said, the company was looking for funds to expand into new cities. Given that the people are loving the idea of Box8, $15 million were splashed by eWTP without batting an eye.
The funding came in two tranches as the first one was $6.23 million which was reported by paper.vc in its newsletter while Inc42 revealed the rest of the amount after looking into the Ministry of Corporate Affairs files. The round is not yet completed as existing investors Mayfield and IIFL Seed Ventures fund will also participate in the round.
That said, the company is looking at $15 million to expand and is going to do it with caution. Anshul Gupta was talking to Inc42 when he revealed that the company is looking to double down on the tech front of the company. He also talked about how the company looks after two major things that are preparing food and delivering it.
“We are solving two big problems: on-demand preparation of high-quality food and delivering it piping hot within 25 mins. To keep doing this at scale, we would double down on tech,” Anshul told Inc42. Amit Raj also talked about the same. He said that the company prepares its food by thinking that it is going to be delivered. The other fact he revealed that they have their own delivery fleet which delivers the food. This also helps in controlling the deliveries as well.
He said, “Traditional restaurants simply have a different DNA: their food is all about experience and is meant to be eaten immediately. We are a delivery first company, designing our food keeping in mind that it will be in transit for another 10-15 minutes. Our in-house fleet delivers 100% of our orders, this gives us even greater control over the food quality.”