Yu Foodlabs, a startup in the consumer food industry, has raised Rs 20 crore ($2.47 million) in series A funding through a combination of equity and debt. Expert investor Ashish Kacholia took the lead in the most recent round. Manish Choksi and Varun Vakil, who are already investors in Asian Paints Promoter Group, also took part in the round.
Additionally, the Startup India Seed Fund of the Department for Promotion of Industry and Internal Trade (DPIIT) took part in the round, as per reported by Business World.
With the additional capital, the firm will be able to enhance offline and online distribution in India and further its global expansion into countries including the US, the Middle East, and Africa.
The noodles, pastas, oats, and halwa product lines from Yu Foodlabs, established by Bharat Bhalla and Varun Kapur, can be made in 4-5 minutes by merely adding boiling water. The products’ brand name is Yu.
Eating clean is increasingly becoming a lifestyle. Yu has created a variety of tasty Instant Meal Bowls with ZERO preservatives, additives, artificial flavourings, or colours in consideration of this.
There are currently more than 100 people working for it. Over the following 12 months, Yu Foodlabs hopes to introduce 10 new products to broaden its product line.
About Yu Foodlabs
Developed using advanced lyophilization technology, artisan recipes and natural ingredients only, Yu’s meal bowls retain their original taste and aroma while enjoying a non-refrigerated shelf life of 12 months. The culinary team at Yu uses only the freshest ingredients to create wholesome, nutritious meals with unbeatable flavours.