Yummy Plate said the $2 Mn funding would help it expand its services to Mumbai, Pune, Hyderabad, Chennai and Delhi
Founded in 2022 by Bala Hariharan, the B2B startup provides a subscription-based meal service for schools
Yummy Plate currently caters to over 3,000 students across 30+ schools in Bengaluru and aims to increase this to over 20,000 students by next year
Subscription-based meal service provider Yummy Plate on Tuesday (August 22) said it has raised a funding of $2 Mn from educational services platform K12 Techno Services.
The startup said it will use the funding to expand its presence in the country by entering new cities.
Founded in 2022 by Bala Hariharan, the B2B startup provides a subscription-based meal service for schools. Currently, it caters to over 3,000 students across 30+ schools in Bengaluru.
In a statement, Yummy Plate said the fresh funds would help it expand its services to Mumbai, Pune, Hyderabad, Chennai and Delhi. The startup aims to reach 100+ schools by next year to cater to over 20,000 students. It is also targeting establishing a pan-India presence within three years.
Commenting on the fundraise, founder Hariharan said, “We have been receiving positive feedback from the parents so far, and we would like to provide the best suitable meals that fulfill all nutritional needs of students in their growing years. Through this funding, we are confident of being able to expand our services across different cities and achieve our goals even further.”
Investor K12 Techno Services said that there is a big gap in the market in terms of supplying quality nutritious food in schools which Yummy Plate is trying to fill. “As we believe in providing the best possible facilities for students for their overall growth, our goals align with those of Yummy Plates. We are happy to associate with them and confident that they will grow by leaps and bounds,” Jai Decosta, CEO of K12 Techno Services said.
Yummy Plate competes with other subscription-based meal providers like My Embrace Box, EatFit, and Healthylicious Kitchen.
The fundraise comes at a time when the ongoing funding winter has made capital scarce for startups. The total funding raised by Indian startups declined to $5.4 Bn in H1 2023 from $19 Bn in the corresponding period of the last year, according to Inc42’s Indian Tech Startup Funding Report H1 2023. Meanwhile, seed stage funding plummeted to $479 Mn during the first half of 2023 from $1.4 Bn in the year-ago period.
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