Home Retail Yumlane raises seed fund from Binny Bansal, Anupam Mittal, others

Yumlane raises seed fund from Binny Bansal, Anupam Mittal, others

By  
SHARE

QwikPik Technology Pvt Ltd, which runs food start-up , has raised funds in a seed round from Flipkart chief executive officer and People Group founder Anupam Mittal.

Yumlane raises seed fund from Binny Bansal, Anupam Mittal, others
YumLane, which was founded in March this year by Hitesh Ahuja, who was also with New Silk Route, offers hot snacks and meals, such as momos and pizzas, across retail points in Mumbai

Sachin Bhatia, co-founder of , angel investor and , partner at Redcliffe Capital, a UK-based hedge fund, were among other participants in the round.

The company did not disclose the exact amount. It said that the funding round was under $1 million.

The company will invest the money in brand building, marketing initiatives and increasing its footprint.

YumLane, which was founded in March this year by Hitesh Ahuja, who was also with New Silk Route, offers hot snacks and meals, such as momos and pizzas, across retail points in Mumbai.

Both Bansal and Mittal had invested in Bengaluru-based on-demand mobile tutoring platform in March.

The Flipkart CEO has been an active angel investor, along with his co-founder Sachin Bansal, having previously invested in Bengaluru-based that makes offline educational board games.

They have also made other startup bets like electric scooter maker , mobile gaming startup , mobile news app Inshorts and broker networking platform .

Currently it has tied up with 10 stores in Mumbai and plans to take the count to 50 by the end of August.

YumLane, which currently works with three vendors, has targeted being in 2,000-3,000 retail points, following which it will launch its consumer-facing app, allowing customers to order directly from the company.

The company offers ready to eat meals at Rs 50-80 through packaged consumer goods outlets. Consumers can make a pre-order and also make the payment online and collect their food from the nearest store. The food will be kept warm and packed by the retailer.

The company also counts as co-founders Rueben Ghosh, formerly with Riyaz Amlani-led chain of restaurants and bars, and former Morgan Stanley executive Rahul Kumar.