YCook, a Bangalore-based food startup that provides organic, ready-to-cook processed food, has raised $5 million in its Series B round of funding led by Binny Bansal backed venture capital firm,021 Capital. Along with that, Impact fund Oikocredit and existing investor Omnivore have also participated in this funding round.
The company is now planning to use the funding to make an improvement to its factory, acquiring certifications and boosting marketing. It manufactures product under brand name Ta-daa!, which has a shelf life of one year.
Commenting on this development, Janardhan Linga Swahar, CEO, YCook, said, “About 30% of my business is exports. The remaining 70% is through supermarkets and a few retail stores. Geographically, 40% of my business comes from north India and 15-20% from other parts of India. Around 75% of the business is corn.”
Sailesh Tulshan, founder of 021 Capital, said, “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.”
The startup was founded in 2013 by Janardhan Swahar, Vijay Reddy and Gayathri Swahar. It has 1,300 active partner farmers across Kerala, Karnataka, Tamil Nadu and Telangana. It sells its products through retails chains such as Reliance Retail, Big Bazaar and Nature’s Basket, and ecommerce sites including Amazon, Flipkart, BigBasket and Grofers.
021 Capital was launched by Sailesh Tulshan in 2017. It reportedly has a corpus of about $50 million and typically invests up to $2 million each in startups, across sectors such as biotechnology, agritech and internet.