Tiger Global invests USD 40 mn in BOX8 and MOJO Pizza's parent company, now rebrands to EatClub Brands
Nov 30, 2021
Mumbai (Maharashtra) [India], November 30 (ANI/BusinessWire India): EatClub Brands, which operates popular brands like BOX8 & MOJO Pizza has raised $40 million in a round led by Tiger Global. EatClub Brands is a technology first, full-stack cloud kitchen company, and it has one of Asia's largest cloud kitchen networks. Currently, a total of 8 brands operate out of its 150+ kitchens, GLOBO Ice Cream and ZAZA Biryani being the newest additions.
Founded by two IIT graduates Amit Raj and Anshul Gupta, EatClub Brands started out with BOX8, known for its All-in-1 Meals & Desi Box. BOX8 was an early mover in the cloud kitchen space, and was one of the first D2C brands to cross the 100 CR revenue mark. EatClub Brands also operates the brand- MOJO Pizza, which has become the largest home-grown pizza delivery brand clocking over 150 CR in revenue.
They operate 150+ cloud kitchens across 5 cities in India- Mumbai, Bangalore, Pune, NCR and Hyderabad - delivering over 1.5 million meals every month. They own the entire value chain, from procurement of high-quality ingredients to food preparation to the last-mile delivery, hence ensuring superior customer experience and business economics.
"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.
"We have been impressed by their first principles approach to building a new age food delivery platform. They have built multiple strong brands in a short span of time catering to the evolving Indian consumer. We continue to remain strong believers in Amit and Anshul and we are excited for the next phase of growth," said Nikhil Khattau, Managing Partner of Mayfield India, the first institutional investor in BOX8.
"We have deliberately spent time in building deep capabilities in food, technology & 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," said Amit Raj, Co-Founder, EatClub Brands (formerly BOX8).
Anshul Gupta, Co-Founder, EatClub Brands, said, "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 & expertise we have built we can help these brands with expansion, operations and marketing. They can capitalize on our proprietary technology stack & existing kitchen network as well."
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