Food-startup Yumlane raises $1 million from Flipkart CEO Binny Bansal

Aiming to boost its marketing initiatives and expand its footprints QwikPik Technology Pvt. Ltd, which runs food start-up Yumlane, has raised nearly $1 Million funds in a seed round from Flipkart CEO Binny Bansal.

Also participated in the round were Anupam Mittal, the founder of People Group, Harish Bahl of Katalyzers Fund, Sachin Bhatia co-founder of MakeMyTrip, and Darius Pandole, who is a partner at private equity firm New Silk Route.

Hitesh Ahuja, the founder of Yumlane, said, “We would like to make great food accessible to everyone, everywhere and leverage the deeply fragmented retail landscape our country offers. The Company plans to use the investment towards brand building, marketing initiatives and increasing the footprint.”

The Platform aims to reach out to up to 1,000 retail stores by the end of this financial year. The company offers ready to eat meals at Rs.50-80 through packaged consumer goods outlets.

Consumers can make a pre-order and online payment and collect their food from the nearest store. It has also tied up with 10 stores in Mumbai and the number will go up to 50 by the end of this month as planned.

Ahuja further added that the platform plans to work with the retail outlets as they are more convenient for the consumers.

Yumlane works with vendors, who prepare the food that is finally sold under its brand name. It takes charge of quality control, the supply chain, retail, marketing and distribution for the products.