Indian cricketer Hardik Pandya has invested in the direct-to-consumer (D2C) food startup Yu and joined the company as its brand ambassador.
Yu, co-founded by Bharat Bhalla and Varun Kapur, specializes in ready-to-eat meals and offers a range of breakfast, lunch, and dinner options, including instant noodles, pastas, oats, halwa, and desserts. The startup is planning to launch 8-10 new products within the next year.
Yu has experienced significant growth, doubling its revenue in the past six months. The company operates a 24,000 sq ft integrated manufacturing facility in Gurugram and has partnered with airlines such as SpiceJet and Akasa Air to provide instant meals to customers. Yu’s sales come from a variety of channels, with 40% from online sources, 10% from exports, and the remaining 50% divided between offline and online platforms.
In Q1 FY24, Yu aims to sell approximately 2 million units, generating revenues of INR 14-15 crore, and maintaining a 75% quarter-on-quarter growth rate. The startup offers 15 SKUs and has a presence in over 4,000 offline stores, e-commerce platforms, and quick commerce segments, as well as more than 100 academic campuses. Yu also exports to South Africa, the United States, and Singapore.
The proceeds from Hardik Pandya’s investment will be used to fund Yu’s first brand campaign during the upcoming IPL 2023 season and the ICC World Cup in India.
In 2022, Yu raised INR 20 crore in a Series A funding round led by investor Ashish Kacholia, with participation from the Asian Paints Promoter Group and the DPIIT’s Startup India Seed Fund. The startup aims to expand its offline presence to cities such as Pune, Hyderabad, Bengaluru, and Chennai.
Yu’s mission of promoting healthy, chemical-free, and preservative-free packaged foods aligns with Hardik Pandya’s passion for health and wellness. The startup competes with other D2C brands like Buddha Bowls, The Bowl Company, and The Meal Bowl and aims to contribute to the evolution of the packaged food industry with its diverse product range.
With the investment from Hardik Pandya and the success of its existing business model, Yu is poised for continued growth and success in the coming years.
