Jay-Z-Backed Food Platform HUNGRY Buys NatureBox

HUNGRY, a tech-enabled food catering and delivery platform backed by Jay-Z’s Marcy Partners amid others, has acquired NatureBox, a report from Yahoo says.

According to CEO Jeff Grass, the company’s momentum was the reason for the buy.

He said he thinks more people will come back to the office as companies and cities lift the pandemic-era protocols, which will add to HUNGRY’s services.

HUNGRY provides various kinds of jerky, nuts and other such snacks, and has partnerships with independent brands.

By acquiring NatureBox, there will be more snack options through new platforms HUNGRY is working on.

“NatureBox had previously raised roughly $60 million in venture capital funding,” Grass explained to Forbes. “We project that NatureBox will add at least 20% to HUNGRY’s overall revenue in 2022, and we expect our business to double in sales in 2023.”

HUNGRY has also recently bought some other companies, LocalStove and Ripe Catering, which will work on serving customers in the U.S.’s northeast, with Grass saying the company expects to keep growing for the “foreseeable future.”

In related news, PYMNTS wrote that Toast, the restaurant software provider, has rolled out Toast for Hotel Restaurants, which integrates with hotel systems to help eateries work better.

Read more: Toast Unveils Tool for Hotel Restaurants

Toast’s business model addressed the fact that many hotels and resorts use disconnected tech in order to manage the core front office tasks like check-in and check-out, billing and ordering on site.

The release says this leads to “a less than optimal experience for hotel staff, who often have to rely on time-consuming manual processes to reconcile food and beverage charges with the guest’s folio,” the release said.

Aman Narang, the president and co-founder, said the hotels have been adding more curated food and beverage experiences but don’t have the ability to let guests order and pay on their own terms.

The tool’s purpose is reportedly to offer more efficiency, charging guests to their rooms.