Daily meals ordering startup, Yumist has raised $2million in Pre Series A round led by Ronnie Screwvala’s fund, Unilazer Ventures, with participation from existing investor Orios Venture Partners’ Steven Lurie, a Valley based investor, has also joined the round.
The raised capital shall be used to scale up in existing cities — Gurgaon, Delhi and Bengaluru till March, after which Yumist plans to expand to Mumbai and Pune. Further, a portion of the amount will also be used to make mid-senior level hires for marketing, data science, technology and finance teams. At present, Yumist has 180 people on its rolls across functions including delivery and kitchen staff. Of these 20 are headquarter employees.
The startup which was co- founded a year ago by Alok Jain and Abhimanyu Maheshwari, is building a new kitchen for NCR over the next 2.5 months which will be rolled out in a modular fashion. At scale this kitchen will have capacity to handle 30,000 orders a day.
Commenting on the development, Jain said, “The focus is on building a great customer experience and healthy unit economics, which has resulted in rapid organic growth for us. We’ll continue with this approach going forward.”Category Investments News