Restaurant Franchise Opportunities

Investment Feb, 02 2015

Yumist raises Rs 6.2 crore from Orios Venture Partners

Yumist, a food tech startup, raises first round of funding from Orios Venture Partners to disrupt how and what you eat at office.

By Franchise India Bureau
Yumist raises Rs 6.2 crore from Orios Venture Partners

Yumist, a food delivery startup operational in Gurgaon since Oct 2014, has raised it's first round of funding from Orios Venture Partners.

Yumist, founded by Alok Jain (a tech entrepreneur & ex-CMO at Zomato) and Abhimanyu Maheshwari (a seasoned F&B entrepreneur), has raised approximately 6.2 crore ($1 million) from Oriors Venture Partners.

The tech start-up is focusing on providing easy access to tasty and homely daily-meals.

A unique combination of food, logistics and tech, Yumist allows it's customers to place orders in a few seconds through it's Android app and the meal is delivered hot in under 30 minutes.

"The average ordering time on our app is 25 seconds and the average delivery time is 19 minutes so far. We are trying to redefine how and what people eat at offices with quality and convenience being at the top of our agenda", said Alok Jain, Founder & CEO, Yumist.

With options like Rajma Chawal, Chicken Chawal, Aloo Parathe, etc Yumist is catering to the low priced daily meals market, and using technology to solve the challenges faced by customers in this market.

Abhimanyu, Founder & COO, Yumist, said "Every meal offered by us goes through rigorous trials and quality controls before making it's appearance on the Yumist menu. Food has to arrive at your desk at a specific temperature and texture and we have a sophisticated, constantly evolving supply chain in place to ensure that".

Over the past few months, Yumist has been piloting its offering in Cyber City, Gurgaon. Having achieved a proof of concept, they are now looking to expand aggressively across NCR and beyond.

Yumist seems to have cracked a low CAPEX and OPEX model that will allow them to grow across geographies rapidly.

"Our view is that the customer wants home style reasonably priced meals where quality is a must. Alok and Abhimanyu have understood that and created a scalable business model that can address this really large need and we are excited to partner them" said Sumir Verma, Venture Partner, Orios.

Yumist will use the funding to grow it’s team, expand geographically and build it’s production, technology and delivery infrastructure.

“We are excited to partner with Orios on this journey. They bring a ton of experience in tech, food and logistics which is a tremendous value addition for us”, said Alok.

Related: Parag Milk is looking to raise around Rs 760 crore through the IPO

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