EatClub is All Set to Get a $30 mn in the Second Round of Funding

According to sources, EatClub Brands,  a cloud kitchen startup that was earlier known as Box8 is close to raising $30 million in its second round of funding. In this fund raising round, existing investor Tiger Global is expected to increase its stake in the company. Mumbai based A91 Partners is also expected to purchase its shares while existing investor IIFL will dilute some of its stakes. An anonymous source said: “The secondary sale of shares is complete, and all formalities should be closed soon... the size of the round is slightly more than what was initially planned." Tiger Global in the month of December last year invested $40 million in the company. Cofounder of EatClub, Anshul Gupta said: “As part of our last round, Tiger Global is doing an additional secondary tranche worth almost $11 million." EatClub was founded by IIT-Bombay alumni Anshul Gupta and Amit Raj in the year 2012. The startup informed that this capital will be used in the further expansion of the company.