Blume Ventures-backed MonkeyBox Food Tech Pvt. Ltd, which runs a nutritious food delivery startup for school children in Bengaluru, has acquired Delhi-based cold-pressed juice manufacturer and delivery firm RawKing, the company said.
Launched in 2014 by Navneet Misra, RawKing has a product portfolio of nutritious drinks that will allow MonkeyBox to expand its offerings. “We are excited to bring RawKing’s products into the MonkeyBox family,” Sanjay Rao, the co-founder of MonkeyBox, said in a statement. He, however, did not share further details on the transaction.
“Navneet’s strong focus towards quality has helped achieve a reputation among his customers, most of whom have signed up on a subscription model. We look forward to leveraging our joint understanding of food and children’s preferences to integrate into our product offering and significantly grow the business,” Rao added.
Last November, MonkeyBox had raised an undisclosed amount in seed investment led by early-stage investor Blume Venture Advisors Pvt. Ltd. A clutch of high net-worth individuals had also participated in the round.
MonkeyBox, which was founded in 2015 by Rao and Sandeep KN, caters to over 25 schools, besides servicing 1,500 parents. “This acquisition of RawKing will allow Monkeybox to expand the product offering while holding true to their values as they help kids to eat healthy and appreciate nutritious food,” said Ashish Fafadia, chief financial officer, Blume Ventures.
In 2006, Rao and Sandeep had also launched a sports analytics platform, Sporting Minds, which was also backed by Blume Ventures. The startup shut shop in 2012.
The cold-pressed juice segment includes funded startups such as Juice Up, Raw Pressery and MyGreens.
In the healthy dining segment, restaurant chain Sattviko had raised an undisclosed amount of angel investment from a clutch of investors led by Raman Roy in November 2016.
Another app-based healthy meals delivery startup, First Eat, which is run by FE Food Tech Pvt Ltd, had raised $200,000 in seed investment from an undisclosed serial investor in February 2016.