Mumbai: Tastebox Hospitality Pvt. Ltd, which owns and operates an online restaurant reservation portal GourmetItUp.com, has raised $300,000 from early-stage investors.

Tastebox Hospitality, founded in 2012 by Deepa Jain and Kunal Jain, plans to use the money to expand into newer markets in India as well as internationally, the company said in a statement on Tuesday. The company has marketing partnerships with more than 75 of the top restaurant brands in India.

Investor names include Karan Bhagat, managing director of IIFL Private Wealth Management, Prabhat Awasthi, managing director Nomura Financial Advisory and Securities (India) Pvt Ltd, and Atul Kumar, founder of Genome Capital.

According to a report by Technopak Advisors Pvt Ltd, the food services market in India is worth $48 billion and expected to grow to $78 billion by 2018.

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