“Lunchbox Technologies,” a service created by Bangladeshi-American Nabeel Alamgir, provides a marketing alternative for restaurants in NYC.
Lunchbox creates an online ordering engine for restaurants, instead of needing a third-party system, according to The Business Standard. It allows restaurants to create customized digital ordering systems set to fit its brand image.
The service was founded in January 2019 by Alamgir and two other co-founders–one from Pakistan and the other from Ukraine.
Lunchbox counters the high fees from services like UberEats or GrubHub. These fees lower the amount of profit made per sale.
According to UberEats, its fees for delivery orders range from 15%-30% and then an additional pickup fee is another 6%.
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“That is not profitable for restaurants, that is not something that restaurants can survive on,” Alamgir told The Business Standard.
It offers services such as marketing, web app design, online ordering and data crunching.
“They [restaurants] will make as much profit as if you [customers] were dining in. And that is what we want to do: we want to remove the differences in profit margin,” Alamgir said to The Business Standard.
Additionally, there is a loyalty program for smaller restaurants as well. The program allows customers to scan a code on their phones to pay for food. This type of program while typically used by larger corporations is made more accessible for smaller businesses, Alamgir said.
In three years, LunchBox raised $72 million. After 70 rejections from investors, LunchBox secured its first round of venture capital, The Business Standard stated.
Some of Lunchbox’s current clients are Bareburger, Clean Juice, Mexicue, Zaro’s Family Bakery and Fuku.
“When you work a ridiculous, ridiculous, ridiculous, ridiculous amount, only good things happen,” Alamgir said to The Business Standard. “And, I was just blessed to be in the right place at the right time as well.”
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