Yummy Plate Raises Funding From K12 Techno Services To Provide Meals To School Students
Yummy Plate says the $2 million in funding will help it expand its services to Mumbai, Pune, Hyderabad, Chennai and Delhi.
Founded in 2022 by Bala Hariharan, this B2B startup offers subscription catering services to schools.
Yummy Plate currently serves over 3,000 students in over 30 schools in Bangalore and plans to increase student enrollment to over 20,000 by next year.
Subscription food service provider Yummy Plate said Tuesday (Aug. 22) that it has raised $2 million from education platform K12 Techno Services.
The startup said it will use the funds to expand its presence in the country by entering new cities.
Founded in 2022 by Bala Hariharan, this B2B startup offers subscription catering services to schools. We currently serve over 3,000 students in over 30 schools in Bangalore.
Yummy Plate said in a statement that the new fund will help expand its services to Mumbai, Pune, Hyderabad, Chennai and Delhi. Next year, the startup plans to reach more than 100 schools and serve more than 20,000 students. It also aims to establish a presence across India within three years.
Commenting on the fundraiser, Founder Hariharan said, “We have received positive feedback from parents so far and we want to provide the best and most convenient food that will meet all the nutritional needs of schoolchildren throughout their growing up. We are confident that with this funding we will be able to expand our services to different cities and further achieve our goals.
Investor K12 Techno Services says there is a huge gap in the market in providing quality and nutritious school meals that Yummy Plate is trying to fill. “Because we believe in providing students with the best environment for their overall development, our goals are aligned with those of Yummy Plates. We are delighted to partner with them and are confident that they will achieve exponential growth,” said Jai DeCosta, CEO of K12 Techno Services.
Yummy Plate competes with other subscription food providers such as My Embrace Box, EatFit and Healthylicious Kitchen.
This fundraiser comes at a time when this winter of funding is causing a shortage of capital for startups. According to Tech India Inc42 1H 2023 Startup Funding Report, total funding raised by Indian startups fell to $5.4 billion in the first half of 2023 from $19 billion in the same period last year . Meanwhile, seed funding fell to $479 million in the first half of 2023 from $1.4 billion last year.