MonkeyBox Food Tech Pvt. Ltd, which delivers healthy meal boxes to kids in schools, has raised an undisclosed funding amount through pre series A from early stage investors Blume Ventures, NB Ventures, Nspira and a couple of angel investors. The funding will be used for expansion and future marketing campaigns.
On this occasion Sanjay Rao, Co-founder and CEO, MonkeyBox said, “One of our key focus at the moment is to expand to more schools across Bangalore. This round of funding will help us to start operations for our two new kitchens in Thanisandra in the north and Kudlu Gate in the east. We are aiming to cover 75% of Bengaluru with a target of reaching 12,000 subscriptions by end of the academic year 2018. The funding will also be used for on-boarding more employees into the circuit and for future marketing campaigns.”
This Bengaluru based start-up provides healthy vegetarian meals specially designed by nutritionists that are balanced and portioned as per 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 2000 subscribers for meal boxes between the age group of 3 – 18 years old. The company has also started to supply to daycare and Montessories for children in the group of 1-3 years. MonkeyBox has also partnered with local farms and distributors for supplying fresh ingredients for the meals.
Ashish Fafadia, CFO at Blume Ventures said, “MonkeyBox has been providing nutritious, fresh and tasty food for school kids delivered at schools that makes results in a balanced-diet for kids while they relish tasty food. Their very high subscriptions are an indication of parent’s preference for this as a dependable alternative to home cooked food”
MonkeyBox which started in October 2015 had received seed funding from Blume Ventures and a clutch of high net-worth individuals around December, 2015. The food-tech startup has seen commendable growth since then and is currently supplying 1500+ meals per day to 85+ schools in Bangalore.