Box 8

Foundation
Anshul Gupta and Amit Raj are the founders of Box8. Amit is an Aerospace Engineer &
Anshul is chemical engineer from IIT Bombay. They both quit their jobs in June 2011 and
started with the Box8. It was founded as Poncho where they served Mexican dishes in the
quick service format. When Poncho started in 2011, there was a gap in the market catering to
Mexican fast food and they decided to tap into it. However, market response was slow. So
based on customer feedback and insights gained from customers, Poncho became Box8 in
Dec 2013, and today their menu is predominantly Indian.
Growth stage
Indian Angel Network invests in Mumbai Based Mexican Quick Service Restaurant, Poncho
to scale up by opening new outlets, strengthening the back-end operations and ramping up the
core team. Thus, has opened 6 outlets & reached 15 by the end of year.
After this they also received funds from Kaushal Aggarwal of Avendus Capital & Dheeraj
Rajaram of MuSigma.
Recently, Mumbai-based Box8 raises Rs 21 crore in series A funding from Mayfield for
investing into build technology, team expansion, and deepen market penetration. With over
2,000 transactions per day, Box8 has grown 10 times in the past 15 months.

Future plans
They are planning to expand its reach to over 10 cities by 2015 end. The group is also
planning to enter Chennai by next month followed by NCR, Pune and Bengaluru. We are
getting about 2,500 orders a day, and is targeting to cater for 10,000 orders by the year-end
and also aspires to reach Rs 500 crore GMV mark in next 18 months.
Core Competencies
The companys focus on taste, technology and innovation has resonated well with its
customers, as 80% of its daily transactions come from repeat customers.