Hardik Pandya-backed Yu Secures Another Rs 20 Cr In Series A Round
Yu has raised Rs 20 crore in a follow-on Series A round following its last fundraise in November 2022. The round was led by renowned public market investor Ashish Kacholia and Asian Paints Promoter Group (Manish Choksi, Varun Vakil).
With this round of capital, Yu will look to scale up its manufacturing capacity while entering multiple product categories and segments.
Yu is among the few D2C brands that successfully penetrated multiple distribution channels including offline with over 6,500 stores, online (E-Com and Q-Com servicing pan India), institutional segments and exports.
The brand will look to consolidate its presence and setup 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 (2000 stores) in a short period.
Founded by Bharat Bhalla and Varun Kapur, Yu is re-imagining packaged foods with 100 per cent natural ingredients, making them as close as possible to freshly prepared foods. The brand is witnessing significant business traction having achieved over 200 per cent growth QoQ on the back of sales of 1.5 million units in Q3-FY24 (Oct-Dec 2023).
Sharing their excitement, Founders Bharat Bhalla and Varun Kapur jointly expressed, “u has grown exponentially having deepened its penetration in the Indian market and opened up several export markets like South Africa where Yu now has a nationwide presence. It is extremely heartening to see a young Make in India brand successfully selling its products in global markets like South Africa, Middle East and Australia. The funds raised will allow us to augment our manufacturing capacity and grow our distribution in India and globally.”
Apart from Ashish Kacholia and Asian Paints Promoter Group (Manisha Choksi, Varun Vakil), Yu counts Indian cricketer Hardik Pandya, Sameer Mehta (Founder of Boat), Srikrishna Dwaram (Partner, True North Private Equity), Nikhil Srivastava (PAG Private Equity) and DPIITs Start Up India Seed Fund among its investors.
