New Delhi, February 12, 2024: Instant food brand Yu has successfully raised ₹20 crore in a follow-on Series A round, led by investor Ashish Kacholia and Asian Paints Promoter Group (Manish Choksi, Varun Vakil). The funds will be utilized to expand its manufacturing capacity and enter multiple product categories and segments.
Yu, founded by Bharat Bhalla and Varun Kapur, began its journey with the launch of instant bowls in 2021 and has since expanded to ready-to-cook noodles, pastas, and natural beverages. The brand is currently available across over 6,500 stores, online, and in institutional segments. It also has a presence in South Africa, where it has built a nationwide distribution network and is looking to consolidate its presence and expand its reach within the next 12 months.
The brand has witnessed phenomenal business traction, achieving over 200% growth quarter-over-quarter with sales of 1.5 million units in Q3-FY24. In a joint statement, the founders said, “The funds raised will allow us to augment our manufacturing capacity and grow our distribution in India and globally.”
Apart from Ashish Kacholia and Asian Paints Promoter Group, Yu’s investor list also includes Indian cricketer Hardik Pandya, Sameer Mehta (Founder of Boat), Srikrishna Dwaram (Partner, True North Private Equity), Nikhil Srivastava (PAG Private Equity), and DPIIT’s Start-Up India Seed Fund.
With the successful funding, Yu is poised to further strengthen its foothold in the market and expand its product portfolio while continuing to serve its customers with innovative and high-quality instant food products.
