Instant food brand Yu has raised Rs 20 crore in follow-on Series A round following its last fundraise in November 2022. The round was led by Ashish Kacholia and Asian Paints Promoter Group (Manish Choksi, Varun Vakil).
According to Yu, the funds will be used to ramp-up its manufacturing capacity while entering multiple product categories and segments.
Founded by Bharat Bhalla and Varun Kapur, Yu started with instant bowls in 2021 and has since expanded to ready to cook noodles, pastas as well as natural beverages. The brand launched its natural coconut water last year and will look to strengthen its beverage portfolio this summer.
Yu is also planning expand its presence and set up a nationwide distribution network within the next 12 months. Apart from ramping up its domestic distribution, Yu will solidify its presence in South Africa where it has built a nationwide presence (2,000 stores) in a short span of time.
Yu claims to have multiple distribution channels including offline over 6,500 stores, online e-commerce and q-commmerce servicing pan India, institutional segments and exports.