MonkeyBox raises fresh pre series A funding

24 July 2017 | News | By NFS Correspondent

MonkeyBox Food Tech Pvt. Ltd, which delivers nutritious food to school children in Bangalore, has raised an undisclosed amount in its pre-Series A round from existing investor Blume Ventures.

NB Ventures, Nspira, and some angel investors came on board as new investors in this round.

The new capital will be used for expansion, marketing campaigns, and to hire more employees.

This round of funding will help to start operations for two new kitchens in Thanisandra in the north and Kudlu Gate in the east. The startup is aiming to cover 75 per cent of Bangalore with a target of reaching 12,000 subscriptions by the end of the academic year 2018.

The startup provides healthy vegetarian meals specially designed by nutritionists that are balanced and portioned as per the Recommended Dietary Allowance (RDA). The meal boxes are delivered to the schools directly, 30 minutes before their breakfast/lunch/snack time.

Currently, MonkeyBox has close to 2,000 subscribers for meal boxes between the age group of 3 to 18 years old. The company also delivers to daycare and Montessori schools for children in the group of 1-3 years. It has also partnered with local farms and distributors for supplying fresh ingredients for the meals.

In December last year, the company had raised an undisclosed amount in seed investment from Blume Ventures and a clutch of high net worth individuals.

In May this year, MonkeyBox had acquired Delhi-based cold-pressed juice manufacturer and delivery firm RawKing.

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