Box8 raises $3.5 million from Mayfield, to widen reach

Mumbai-based on-demand food delivery start-up Box8 today said it has raised USD 3.5 million (Rs 21 crore) funding from Silicon Valley-based early-stage venture capital firm Mayfield.

The investment will be used to build technology, team expansion and deepen market penetration, said Box8 in a statement.

Box8 co-founder Amit Raj said: "We manage technology, product and delivery, therefore allowing us to have complete control over customer experience."

Started in 2012 by IIT graduates Amit Raj and Anshul Gupta, the start-up is currently present in Mumbai and has 22 delivery units across the city. With over 2,000 transactions per day, Box8 has grown 10x in the past 15 months.

It added that new funds will also be deployed to expand Box8's footprint in other Indian cities.

Prior to this, Box8 had received funding from Kaushal Aggarwal of Avendus Capital, Dheeraj Rajaram of MuSigma and Indian Angel Network.