Aug, 03 2016

Binny Bansal, Anupam Mittal and others back Yumlane

Company operates through its consumer goods outlets and provides ready-to-eat meals within the price range of Rs 50-80. It also equips its customers with options such pre-order, online payment etc.

By Franchise India Bureau
Binny Bansal, Anupam Mittal and others back Yumlane

Yumlane, a food startup by QwikPikTechnology Pvt. Ltd has managed to pump seed funding from Binny Bansal, CEO &Co-Founder, Flipkart and Anupam Mittal, Founder, People Group. The recently concluded round also saw the participation from Sachin Bhatia, Co-Founder of TrulyMadly, angel investor Kunal Khattar and Dheeraj Jain, partner at Redcliffe Capital, a UK-based hedge fund.

Though the company didn’t reveal the exact amount raised by it, but confirmed that the round was closed around US $1 million mark. The recent proceed will be utilised in enhancing the brand, increasing its customer base and further reforming the marketing strategies.

Yumlane was founded by Hitesh Ahuja, the former vice-president of New Silk Route, an Asia-focused private equity fund. The team includes Rueben Ghosh (Co-Founder, product), Rahul Kumar (Co-Founder, technology) and Anirudh Mantri (Vice-President, operations).

Company operates through its consumer goods outlets and provides ready-to-eat meals within the price range of Rs 50-80. It also equips its customers with options such pre-order, online payment etc. Customers can book pre-orders and then can collect their meals from their nearest outlet. Currently, it has tied-up with 10 stores in Mumbai.

Yumlane would like to make great food accessible to everyone, everywhere and leverage the deeply fragmented retail landscape our country offers, said Ahuja.

Related: Torrent invests Rs 250 crore in Modi’s startup Puro Wellness

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