Zomato ex-CMO Alok Jain's foodtech Yumist raises USD 2 million

MUMBAI: India-based food delivery start up Yumist has raised $2 million in its pre-Series A round funding, with the Ronnie Screwvala owned venture capitalist  Unilazer Venture as its leading investor.  Existing Orios VP and Silicon Valley based investor Steven Lurie also participated in the investment round.

The foodtech start up launched by former Zomato CMO Alok Jain and Zing restaurant founder  Abhimanyu Maheshwari in 2014 currently  serves home-style meals prepared in their own kitchens at price points of Rs 65 onwards. Meals can be ordered through the Yumist app or website. The order is delivered in under 30 minutes, the service claims.


"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,” Yumist co-founder and CEO Alok Jain informed a broadsheet on the new fundraiser.

With an aim to reduce its delivery cost from Rs 35 to Rs 20, the start-up plans to use the money raised to scale up in existing cities — Gurgaon, Delhi and Bengaluru till March, after which Yumist plans to expand to Mumbai and Pune.

“After this round, we will still keep our heads down until March in our current three cities, and show that we can be gross margin profitable at a company level," said Jain revealed.


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