Packaged food brand Yu has raised $1 million in its pre-Series A round led by Manish Choksi and Varun Vakil, part of the Asian Paints promoter group.
UK based hospitality group, Lalvani family; Nikhil Srivastava, head of India at PAG private equity; and Vishal Sampat, founder, Convonix, among others have also joined the round.
According to Yu, the funds will be used to ramp up its operations and expand its presence across the country. Founded by Bharat Bhalla and Varun Kapur, Yu provides a range of instant and ready-to-make meal bowls with zero preservatives.
Yu’s products are currently available at over 100 retail outlets across Delhi NCR including large format stores such as Reliance, Spencers, SPAR, Modern Bazar, Needs Supermarket. The company also has an online presence on e-grocery platforms BigBasket and Swiggy.