Yumlok Plans To Raise $1 Million By This Fiscal

It presently operates four outlets and plans to open 50 outlets across the country by 2020.
  • Franchise India Team Editor
Restaurant India

Street food restaurant chain Yumlok is in talks with investors to raise USD 1 million by the end of this fiscal to support its expansion plans.

The company at present operates four outlets and is planning to open 50 outlets by 2020 across the country.

"We are in talks with investors to raise USD 1 million by March. We plan to use this fund to open new outlets, marketing and brand building," shared Avinash Gupta, Founder and CEO, Yumlok.

Yumlok got an undisclosed amount of angel funding from Naman Sarawagi (who also invested in Cashfree and DailyNinja) and Ashish Agarwal (founder of Digital Harbor and member of Mumbai Angels) in 2016.

Yumlok plans to open outlets in metro cities, tier I and II cities such as Ahmedabad, Kanpur, Lucknow, Bhopal and Indore. It serves North Indian meal combos, Delhi style chaats and some Indo-Western fusion dishes.