Yumlane a Mumbai based food startup has raised $1 million in its seed round of funding from Binny Bansal- Co-founder and CEO of Flipkart.
Other investors participated in this round include Anupam Mittal- People Group Founder, Darius Pandole- Partner ar New Silk Route a private equity firm, Sachin Bhatia- Co-founder at MakeMyTrip, Dheerag Jain- Managing Partner at Redcliffe Capital London and Kunal Khattar, angel investor.
The funds will be used for brand building and marketing. It will also expand its presence in the city before it plans to enter other markets across the country.
YumLane was founded in March 2016 by Rahul Kumar, Hitesh Ahuja and Rueben Ghosh. It provides hot meals and snacks such as pizzas and momos. It has targeted 2000-3000 retail points and works with 3 vendors. It handles supply chain, quality control, retail, distribution and marketing for the products available under its brand.
Co-founder Hitesh Ahuja said,
“We are currently in 10 retail points, and expect to be in 50 by the end of August. The product pipeline will also go up, and we expect to finish our roll out in Mumbai over the next six to nine months.”
It offers ready to eat meals ar Rs 50-80 through packaged consumer goods outlets. Consumers can pre-order and users can pay online and collect their food from nearest store. It has tied up with 10 stores in Mumbai.