Startup Sunday Season 1 Episode 18 (Yumist)

image-1The gourmet delivers- Yumist’s proposition is to make it dead easy for customers to get their daily meals. So, if you have been living away from home, Yumist is there to serve your cravings at your doorstep!

Founded in November 2014 by Alok Jain, former CMO at Zomato, and Abhimanyu Maheshwari, and based in Delhi, NCR region, Yumist is one of a full stack food tech startup operating in the daily meals segment to serve home style food, quality and convenience in a price sensitive market through the innovative use of technology and food science across the supply chain.

This particular food venture serves its customer’s appetite through three simple business models. Under the first bill-to-company model, Yumist get a minimum guarantee from the companies that are paying the cost of food on behalf of their employees; under the second, companies subsidize the food and share the cost with employees which also carry a minimum guarantee. In the third, the employees are to come to the kiosks and buy the food by themselves without the minimum guarantee. Yumist outsources its delivery services to third parties such as Shadowfax as well as has its own delivery boys to serve its customers on time with delight.

Within one year of its operations, the company forayed into another metro city, Bangalore. However, owing to a rented kitchen space in Bangalore unlike in Gurgaon, the company decided to pull out from the city and focused mainly on Delhi and NCR. Yumist raised its first round of funding of USD 1 million from Orios Venture Partners in February 2015 and further raised USD 2 million earler this year, in second round of funding from Unilazer led by Ronnie Screwvala with an ambitious aim to expand to 8 new cities by the conclusion of 2016.

Yumist currently serves to almost 50 percent of the entire NCR through its five distribution centres and plans to increase its reach to 75 percent by putting up another 10 distribution centres by the end of December 2016. Since, 70 percent of the orders on Yumist comprise of corporate meals ordered online, the company also forayed into the offline domain by setting up manned food kiosks at corporate houses called Yumist Lunchroom. These manned kiosks would help reduce Yumist’s overall delivery costs it had to incur on individual corporate orders and would also provide a strong brand visibility to the company. It plans to generate half of its revenue from this business itself by March 2017. Also, its Food delivery platform Yumist Foodtech Pvt Ltd is planning to launch cheaper and lighter meal boxes in the range of Rs 75, a move that is likely going to help the company cater to a wider section of the customers and improve order volume.

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