Abhimanyu Maheshwari and Alok Jain: The Founders Serving Affordable Home-Style Meals with Yumist

The Indian food tech sector has seen its fair share of challenges and ups and downs, but two founders, Abhimanyu Maheshwari and Alok Jain, remain committed to delivering affordable and home-style meals through their start-up, Yumist. Their vision is to offer quality and convenience in a price-sensitive market, leveraging technology and food science across the supply chain. Their latest achievement includes securing a pre-Series A round of $2 million, with the primary investment coming from Ronnie Screwvala’s Unilazer Ventures.

Abhimanyu Maheshwari and Alok Jain founded Yumist in November 2014. Their combined expertise, with Alok Jain’s previous role as Chief Marketing Officer at Zomato and Abhimanyu Maheshwari’s experience in the food and beverage industry, provided a solid foundation for the start-up. The core proposition behind Yumist is to offer customers daily meals prepared in their own kitchens, starting at just Rs 65.

What sets Yumist apart is their dedication to affordability and quality in a market that’s often influenced by price sensitivity. The startup provides customers with the convenience of ordering home-style meals through their app or website, available in Gurgaon, Delhi, and Bengaluru. Despite the challenges faced by the food tech sector, Yumist’s business has been growing organically, with claims of a 20% week-on-week growth rate. Yumist’s strategic approach to growth involves focusing on building a profitable and scalable business while maintaining a low cash burn. Currently, approximately 65-70% of their orders come through their mobile app, with the remainder originating from their desktop website. The founders are enthusiastic about their trajectory, and their profitability in a challenging market showcases their commitment to sustainable expansion.

Yumist’s recent pre-Series A funding round, led by Unilazer Ventures and featuring participation from Orios Venture Partners and investor Steven Lurie, will be instrumental in their future plans. The founders plan to utilize these funds to build their team, expand their footprint, and strengthen their brand presence in additional cities. Their expansion strategy aims to achieve further depth in their existing markets until March 2016. Following this, Yumist’s ambitions include extending their reach to eight cities by the end of 2016. The founders’ dedication to their vision and their ability to secure substantial investments position them favorably in the competitive food tech industry.

The food tech industry in India holds immense potential, with estimates suggesting a market size of $78 billion. This growth has spurred the emergence of numerous start-ups in this space. Yumist’s approach, focusing on unit economics and leveraging food science in their supply chain, aligns with the evolving market trends and the demands of their customers. By securing substantial investments from prominent investors, including Ronnie Screwvala’s Unilazer Ventures, Abhimanyu Maheshwari and Alok Jain’s Yumist are well-positioned to compete with existing food tech players. As they scale their business, it is crucial for the founders to remain mindful of the lessons learned by others in the industry, ensuring they make informed decisions while offering affordable, home-style meals to their growing customer base.

The journey of Yumist and its founders stands as a testament to the potential for innovation and growth in the food tech sector in India, even in the face of challenges and competition.