Instant food brand, Yu intends to expand its presence and set up a nationwide distribution network within the next 12 months.
Chef Crafted Instant Food Brand, Yu has raised Rs 20 crore in a follow-on Series A round following its last fundraise in November 2022. The round was led by renowned public market investor Ashish Kacholia and Asian Paints Promoter Group (Manish Choksi, Varun Vakil).
With this round of capital, the company will look to scale up its manufacturing capacity while entering multiple product categories and segments, it said in a press release.
The brand intends to expand its presence and set up a nationwide distribution network within the next 12 months. Apart from ramping up its domestic distribution, Yu will solidify its presence in South Africa where it has built a nationwide presence (2000 stores).
Founded by Bharat Bhalla and Varun Kapur, Yu is re-imagining packaged foods with 100 per cent natural ingredients, making them as close as possible to freshly prepared foods. The brand started with instant bowls in 2021 and has since expanded to ready-to-cook noodles, pastas as well as natural beverages. The brand launched its maiden 100 per cent Natural Coconut Water last year and will look to strengthen its beverage portfolio this summer. The brand is witnessing significant business traction having achieved over 200 per cent growth QoQ on the back of sales of 1.5 million units in Q3-FY24 (Oct-Dec 2023).
Sharing their excitement, founders Bharat Bhalla and Varun Kapur jointly expressed, “Since the last fundraise, Yu has grown exponentially having deepened its penetration in the Indian market and opened up several export markets like South Africa where Yu now has a nationwide presence. It is extremely heartening to see a young Make in India brand successfully selling its products in global markets like South Africa, the Middle East, and Australia. 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 (Manisha Choksi, Varun Vakil), Yu counts Indian cricketer Hardik Pandya, Sameer Mehta (Founder of Boat), Srikrishna Dwaram (Partner, True North Private Equity), Nikhil Srivastava (PAG Private Equity) and DPIITs Start Up India Seed Fund among its investors.