Gurgaon based daily meals delivery startup Yumist, is expanding operations in Bangalore starting today. Yumist offers a dynamic menu of homely meals with prices as low as Rs 75 via its Android app. It takes couple of seconds to order and they claims to have an average delivery time of 21 minutes.
Starting with Indiranagar, Yumist plans to cover most of the city within a few weeks.
Yumist, which is currently available for Android platform, lets users order homely, diversified meals, in a matter of seconds. The ordered food is then delivered by Yumist’s self-owned delivery chain, within half-an-hour of ordering. The app has been founded by Alok Jain, Former CMO at Zomato and seasoned F&B entrepreneur Abhimanyu Maheshwari. The founders aim to make the app available on iOS and Windows platforms soon.
What differentiates Yumist from the other food delivery startups that have sprung up recently, is the kind of meals they offer and a rather sophisticated delivery infrastructure driven by technology. With options like Rajma Chawal, Chicken Chawal, Aloo Parathe, etc., Yumist is catering to the low priced daily meals market, and using technology to solve the challenges faced by customers in this market.
Yumist’s team has expanded from just 15 in March to 130 currently. They are adding 10 localities every week in NCR and it took them 2 weeks to launch Bangalore with a 2 member team.
We realised up front that unit economics and scalability were the two biggest challenges in this business. Having answered these through innovative use of technology across the supply chain and growing organically at 30% week on week, we have geared up for aggressive expansion. We plan to be present in 8 cities by March next year,
said Alok Jain, Founder & CEO at Yumist.
Its founders say, that their full stack approach gives them control over the entire supply chain from procurement to delivery, thus allowing to provide a great customer experience.
In recent times, traditional F&B has been under scrutiny owing to high build out costs. But Yumist has a different approach to this vertical.
The Yumist model lowers these costs by as much as 90% allowing them to build a profitable business that scales fast,
We also quipped Rehan Yar Khan, Founder & Managing Partner at Orios Venture Partners about Yumist’s progress, to which he said,
We have been delightedly watching the uptake here which has been growing rapidly with virtually nil marketing spend; and the heavy patronage to it by consumers. Given this kind of high quality execution by the team we think Banaglore will be delighted to receive Yumist.
Yumist, which secured a $1 Million seed round earlier this year from Orios Venture Partners, is looking for larger rounds ahead — which are basically a necessity in such a model. Asked about their fundraise plans, Alok said “This space will attract a lot of investor money and it’s going to be a survival of the fittest and the richest. So yes, we are always raising ”
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