Consumer food brand Yu raises Rs 20 Cr in Series A led by Ashish Kacholia

Yu, an omnichannel consumer food brand, has received Series A financing in a combination of venture capital and debt.

The round was led by renowned public market investor Ashish Kacholia, with participation from existing investors Asian Paints Promoter Group (Manish Choksi and Varun Vakil).

The current funding round also saw the participation of DPIIT Start Up India Seed Fund scheme, which Yu approved under his Rs 945 crore program that funds tech-enabled startups.

The startup plans to double its capacity in addition to increasing its existing online and offline distribution in India while continuing to expand its global presence in markets such as Africa, the Middle East, and the US.

Founded by bharat bhala Y Varun KapurYu has developed a wide range of 15 unique products through noodles, pasta, oatmeal and halwa that can be prepared in 4-5 minutes by simply adding hot water.

“The next 12 months will also see us aggressively expand our presence in global markets such as the US, Africa and the Middle East,” the founders added.

It has penetrated multiple distribution channels including offline stores (3000+ stores), online (e-Com and Q-Com services all over India), 100+ institutional campuses and exports (South Africa and USA). USA) within 12 months. .

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The brand says it’s seeing significant customer traction, growing more than 200% quarter-on-quarter, and is on track to sell 1 million bowls for Q3-FY23.

With its signature butter chicken pasta and chili chicken noodles, the company recently expanded into the non-veg category. The brand is looking to introduce 10 more unique products in the next 12 months to complement its existing product portfolio.