YCook, the Bengaluru-based organic, ready-to-cook processed food startup, has raised $5 million (about Rs 33.7 crore) in a Series B round of funding from venture capital firm 021 Capital, Netherlands-based impact fund Oikocredit among others.
According to the YCook India management, the newly-secured fund infusion would be used to further YCook’s research and development (R&D) initiative and expand company’s footprints – both nationally and globally.
“Currently available pan-India in the multi-chain modern trade formats and also in nine countries across the globe, building on this momentum, YCook will use the additional financing to continue expanding its reach, accelerate product growth and innovation and invest in marketing, said, Janardhan Swahar, CEO YCook India.
According to Swahar, consumers are looking for a tasting product that provides both – health and convenience, and this is exactly what YCook offers.
Marketed under the brand name Ta-daa!, the food start-up currently sells its products through retails chains such as Reliance Retail, Big Bazaar and Nature’s Basket and also via leading e-commerce platforms including Amazon, Flipkart and BigBasket.
One of the unique selling propositions (USP) of the Bengaluru-based start-up is that all its products have a shelf life of one year, the company claims.
Sailesh Tulshan, founder of 021 Capital, and one of YCook’s chief backer, further added, “We are excited about YCook’s focus on building a global consumer product good (CPG) brand from India. They have brought together a rare combination of health and convenience food to consumers with a long shelf life which does not require any cold storage or preservatives.”
YCook currently works with about 1,300 farmers across four Indian states.