Home Funding Lunchbox online ordering startup raises US$ 20M

Lunchbox online ordering startup raises US$ 20M

lunchbox raises funds

US-based startup Lunchbox Technology raised US$ 20 million on 29th October 2020 to help restaurants build ordering experiences on their personal websites and apps.

Lunch box’s CEO Nabeel Alamgir has tremendous experience in the food tech industry. Before starting the company, he had worked as a busboy at the New York city chain’s first location and later on with his hard work became CMO of Bareburgers’s a leading Global Food Chain. 

In a statement, he mentioned that he isn’t working for abolishment of third-party delivery platforms but instead is working to help restaurants build a direct relationship with their most loyal customers by offering them personalized services and this is only possible if they are handling their orders themselves.

Alamgir founded Lunchbox with Andrew Boryk and Hadi Rashid in the year 2019.  He also stated that it took more than 100 days to build ordering systems for their first client which is still comparatively better than its competitors but now it just takes 44 days.

In the year 2021, Alamgir plans to move to a self -serve model, so that Lunchbox Technologies can be accessible to small, medium and self-dependent restaurants.

The start-up also focuses on helping restaurants to embrace new business models, like delivery via cloud kitchens. The CEO disclosed that one of Lunchbox’s partners is Ordermark, which managed to raise 120 million by moving to a cloud kitchen model. The start-up keeps experimenting with autonomous delivery by entering into partnerships with Sodexo and Kiwibot, and they have recently partnered with SBE with the clear agenda of creating a “virtual food hall” which will help in combining dinner into a single order food from various different restaurants.

The start-up claims to have witnessed 925% growth as compared to last year along with 30% rise in sales when a new restaurant gets on board with the App. The new funding will help Lunchbox technologies on board more restaurants, improve its product quality and expand the team.

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