Instant food brand Yu raises Rs 55 crore from Ashish Kacholia, Asian Paints Promoter Group
Instant food brand Yu has raised Rs 55 crore in a funding round led by investor Ashish Kacholia and Asian Paints Promoter Group.
In this round, the company has provided an exit to some of its early investors, who have made over a 4x return on their investment, the firm said on Friday.
The startup aims to enhance its distribution network, strengthen its food portfolio, and expand its beverage range with the launch of its new 100% fruit juices, it said in a statement.
Founded in 2021 by Bharat Bhalla and Varun Kapur, the brand initially launched with instant cup noodles and pastas and has since expanded its product line to include ready-to-cook noodles, pastas, and natural beverages.
“Version 2.0 for Yu is now officially underway with the launch of 100% fruit juices – our second product category after instant foods. From our current annualised revenue run rate of Rs 50 crore, the Series B growth capital should allow us to grow revenues 3x over the next two years. This will include enhanced distribution penetration, new product launches and further category expansion,” Bhalla and Kapur said.
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