Consumer foods startup Yu Foodlabs $2.47 million in its series A in a mix of of equity and debt led by ace investor Ashish Kacholia where existing investors Asian Paints Promoter Group (Manish Choksi and Varun Vakil) also participated in the round with the Department for Promotion of Industry and Internal Trade’s (DPIIT’s) Startup India Seed Fund also participated.
Yu Foodlabs has created a line of 15 products in the noodles, pastas, oats, and halwa categories that can be prepared in 4-5 minutes by simply adding hot water. Yu is the brand name for the products. The products’ brand name is Yu. With the additional funding, the startup will be able to increase offline and online distribution in India and further its global expansion into markets like the US, the Middle East, and Africa. There are currently more than 100 people working for it. Over the next 12 months, Yu Foodlabs hopes to introduce 10 more products to broaden its product line.