Mumbai-based packaged food firm Yumlane has raised $4 million in a Series A round of funding led by Singapore-based RB Investments. Existing investors Orios Venture Partners and Flipkart co-founder Binny Bansal participated in the round as follow-on investors. While RB Investments put in $2.5 million, Orios invested between $800,000 and $900,000 and Bansal, $300,000.
Yumlane, run by Qwikpik Technology Pvt. Ltd, will use the funds to develop products, increase its retail footprint, hire sales and marketing executives, and manage its backend operations. The company operates in four cities—Mumbai, Pune, Bengaluru and Hyderabad.
Yumlane sells packaged food, specifically pizzas and momos, in supermarkets. The two food products have a 70-30 sales split. The firm sells the products in about 300 modern trade outlets like supermarkets and through online distribution channels.