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Question & Answer

Q.   When and how HungerBox was founded? What's the area of business?


Both the Co-Founders Sandipan and Uttam have been in the food-tech space in India for a number of years now.

We were the ones that championed the concept of online food ordering in India 12 years ago with a business that was later acquired by Just Eat India. (Just Eat India was later acquired by Foodpanda).

The idea of building a B2B Food Tech firm originated when we noticed an untapped profitable Food Tech opportunity. There was tremendous potential for a tech-led, disruptive solution that comprehensively addressed the B2B food tech space and that is what we decided to focus on.

HungerBox launched India's first Digital Cafeteria in the month of September 2017 at Firstsource.

Q.   What is the product concept? What's the main point you are addressing for the customer? What were customers using before they adopted HungerBox?


The core to our offering is Technology which plays a central role in providing value to all the stakeholders. HungerBox's Technology platform connects the Food Vendors, Corporate Employees and the Company Administration in real time, through a customised Employee App tailor-made for the respective corporate.

HungerBox leverages latest technology advancements like IoT to connect the vendor side hardware (designed by HungerBox) and the employees, to communicate in real-time. It also provides features like Personalized Recommendations to Employees through its AI driven technology setup, Health mode for the Health conscious employees etc., among other features.

The other offerings includes running a Fully Compliant Cafeteria for the Corporate, while curating Food vendors for the Corporate.

Before HungerBox, the entire eco-system had no platform to bring all the stakeholders (the employees, the Food Vendors & the Corporate) together. It was an extremely long and arduous process for the employees to get their food without any Tech whatsoever.

Q.   What is the USP of HungerBox? How it is different from the other players?


Our Technology platform is our USP. Our Technology platform reflects our decade long experience in the Food Tech space to provide value across the eco-system. Not only do we provide a seamless ordering experience to the employees, we bring a host of benefits to our partner vendors.

The biggest benefit that we have brought to the partner vendors is the reduction in cash pilferage from the 15-22% mark to 0% through the use of the HungerBox Technology. No other player in the market has been able to provide such benefits across the eco-system with such efficiency.

Q.   What is the opportunity in this space? How big is the market (in $ million)? Who are the other players in this market, what is their pecking order? How do you plan to tap this opportunity?


Business opportunities in India are large and all manner of businesses are being set up every day. These businesses have a growing workforce. All corporates have suppliers for food, hence the demand already exists in the market. The missing component in the market has been a platform which can connect suppliers to corporate clients and hence add significant value in the entire B2B food value chain.

The B2B Food-Tech market is estimated to be a $15 billion market growing at a rate of over 10% YoY.

As far as the market is concerned, we are the only player who is in this sweet spot balancing Food and Technology. Other players who have been trying to do this are Catering service providers without any Technology and Tech companies without any experience in Food.

Hence, we have razor sharp focus to be the market leader and penetrate deep into the market before any other player replicates.

Q.   Who are your target customers? What is your customer reach at present? What are your plans for expansion (please give year wise detail)?


Our target customers are the all the Corporates in India, which would give us access to the best TG in the country.

Currently we have signed contracts for over 600,000 Corporate employees pan India through corporates like Accenture, Capgemini, Qualcomm, Microsoft, Mercedes-Benz, Lowe's, British Telecom, Genpact, Firstsource, etc. to name a few.

After setting up a strong base in Bangalore, our plan is to penetrate deep into Mumbai, Pune, Hyderabad, Chennai, Delhi/ NCR & Kolkata during the year of 2018. By the end of 2018, we have clear visibility to scale our daily order volume from the current 1.2 L orders per day to 3.0 L orders per day

Q.   What is your business model?


We have a unique business model which brings in our Food Tech experience. We enter into long term contracts (typically 3+ years) with all the Corporate to run their Cafeterias and make them 100% digital through our Technology.

We get deeply integrated in the Corporate eco-system by on-boarding the employees and the Food Vendors on our platform and providing delight to all stakeholders.

Q.   What is your revenue model?


Our revenue model varies Client to Client based on the nature of customizations that the Corporate wants us to bring in to the Technology as per their requirements.

Q.   Has HungerBox achieved the break even? If not, when do you hope to achieve a cash break even?


If we decide to achieve break even we would be able to do it next month. But in order to keep the growth up, the cash break even would take time (about 6 - 8 months).

Q.   As you scale up, what are the challenges you are anticipating and how do you plan to overcome each of them?


We import most of our Hardware, which has a lead time. Now that we have clear visibility of the contracts that we execute, we would overcome this challenge by planning the imports accordingly.

Q.   How many rounds of funding HungerBox has raised and from whom (please give year wise details and mention the amount)?


As opposed to a typical B2C business, our business model has enabled HungerBox to scale rapidly to this point without needing too much of investment.

We are doing very well financially and have reached the current scale with the small amounts of funds (as compared to the B2C counterpart) that we have raised so far.

Q.   How do you plan to use the recent funding raised by HungerBox?


The recent round raised would be utilized to scale the business into new cities by having active presence in these cities.

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