- Cloud Kitchen Box8 raised funding through issue of debentures and preference shares
- Company has issued 4237 C3 CCP shares and 8474 compulsorily convertible debentures for ₹23599.46 per unit
Box8, an online food tech startup, has raised about $4 million (₹30 crore) in its ongoing Series C funding round from existing investors including IIFL Seed Ventures Fund, and Menlo park-based Mayfield Fund, in a stock-and-debt deal. The company was founded by Anshul Gupta & Amit Raj in 2012.
Earlier, it had raised ₹12 crore debt via debentures from Trifecta Capital in three equal tranches. The company will utilize these funds in business growth and strengthen its technical department
The Mumbai-based startup has issued compulsorily convertible debentures worth ₹20 crore to IIFL while Mayfield Fund picked up 4,237 Series C3 compulsorily convertible preference shares for ₹10 crore in a bridge round.
Poncho Hospitality Private Limited is the parent company of BOX8, which serves over 22,000+ orders every day across its 100+ outlets in Mumbai, Pune, Bangalore, & Gurgaon.