Amid all the talks of slump, correction, consolidation etc. etc. for the food delivery segment, a select group of startups, as well as investors are continuing to defy trend. The latest startup-investor duo to join that defiance list is Yumist — receiving a $2Mn Pre-Series A cheque from Ronnie Screwvala’s UniLazer Ventures.
This bridge round also saw participation from from existing investor Orios VP. and Silicon-Valley based investor Steven Lurie.
Commenting on why he invested in the company, despite the recent pessimism surrounding this sector, Ronnie says,
Yumist is solving a core problem in one of the largest F&B markets in India. We liked the team and their approach to building the business. They come with the right skill sets and have demonstrated a good understanding of the market and solid execution capabilities.
Founded in November last year by Ex-Zomato CMO Alok Jain, Yumist differentiates itself from the noise by serving freshly-cooked, ‘home-made’ food to its customers. The ordering s similar to any food ordering app, and allows you to order homely meals in less than a minute, delivering you the same by providing a real-time ETA.
With scepticism surrounding this segment more than any other, Yumist has relatively fared well as compared to others. With options like Rajma Chawal, Chicken Chawal, Aloo Parathe, etc Yumist is catering to the low priced daily meals market. The company seems to have cracked a low CAPEX and OPEX model that will allow them to grow across geographies rapidly.
Yumist had last raised funds in February this year, to the tune of $1 Million from Orios Venture Partners, and expanded its presence to Bangalore in August this year.
