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Packaged Food Startup Secures Funds from Flipkart CEO

Stepping in the Food Industry!

Funding YumLane

Launched in March this year, Mumbai-based packaged food startup YumLane recently raises $1 million (INR 6.6 crore) in seed funding round led by Flipkart Co-founder and CEO Binny Bansal. People Group Founder Anupam Mittal, MakeMyTrip Co-founder Sachin Bhatia and Darius Pandole, partner at private equity firm New Silk Route, also invested in the round. The funds will be utilized in brand building activities, marketing initiatives as well as expanding its presence in Mumbai, as per the reports.

About YumLane

Hitesh Ahuja, Rahul Kumar and Rueben Ghosh are the Co-founders of Yumlane, which is operated by QwikPik Technology Pvy. Ltd. Currently, the startup has 10 retail outlets in Mumbai and is expected to go up to 50 by the end of this month and 1000 by the end of this financial year. Yumlane houses three vendors that prepare affordable food. You can pre-order the food by making the payment online and collect your parcel from the nearest store. The food will be kept warm and packed by the retailer.

Yumlame aims to deliver yummy, accessible food to everyone, everywhere and leverage the deeply fragmented retail landscape our country offers. It is associated with vendors for preparing food, but sells under its own brand name. Quality check, supply chain, retail, marketing and distribution for the products are taken care by the startup.

With the growing westernization in India, food packaging industry has a scope to dwell in India. Maiyas Beverages and Foods Pvt. Ltd, Veeba Food Services Pvt. Ltd. and Mambalam Iyers Food Products Pvt. Ltd gives direct competition to YumLane.

Yumlane plans to launch its consumer-facing app soon that lets the users to directly order food from the company.

Is Binny Bansal eyeing the startups to make it big like Flipkart? Please share your thoughts in the comments section below.

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