Yu, a consumer brand that is re-imagining consumer packaged foods with their 100% natural Instant Meal Bowls, has secured USD 1 million in its pre-Series A round.
The round saw participation from Manish Choksi and Varun Vakil, part of the Asian Paints promoter group, Lalvani family, UK-based food & hospitality group; Nikhil Srivastava, Head of India at PAG private equity; Vishal Sampat, Founder, Convonix, among others.
Bharat Bhalla, Founder & Executive Director, Yu Foodlabs, said, “We have combined the most advanced food science technology with culinary arts to re-imagine the future of packaged foods. Our Instant Meal Bowls are packed with gourmet flavours and nutrients while using ZERO preservatives or artificial ingredients. The use of proprietary processes has enabled us to launch our products at an attractive price point of INR 75-100 per bowl. We are adopting an omnichannel sales strategy and in due course will be present in offline and online stores pan-India.”
Varun Kapur, Founder & Executive Director, Yu Foodlabs, said, “It has been heartening to receive a very tangible vote of confidence from an eminent set of investors in our pre-launch stage. We have partnered with high pedigree investors with backgrounds in consumer brands, private equity, hospitality, technology and digital marketing. We will use the funds to increase our production capacity to over 5 lac meal bowls per month while expanding our distribution network to key markets across India.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.