New Delhi, Jan 14 (PTI) Street food restaurant chainYumlok is talks with investors to raise USD 1 million by theend of this fiscal to support its expansion plans.
The company at present operates four outlets. It plans toopen 50 outlets by 2020 across the country.
"We are in talks with investors to raise USD 1 million byMarch. We plan to use this fund to open new outlets, marketingand brand building," Yumlok Founder and CEO Avinash Guptasaid.
Yumlok got an undisclosed amount of angel funding fromNaman Sarawagi (who also invested in Cashfree and DailyNinja)and Ashish Agarwal (founder of Digital Harbor and member ofMumbai Angels) in 2016.
The company plans to expand its footprint through acombination of company-owned and franchised outlets.
Yumlok plans to open outlets in metros and tier I and IIcities such as Ahmedabad, Kanpur, Lucknow, Bhopal and Indore.
Yumlok serves North Indian meal combos, Delhi stylechaats and some Indo-Western fusion dishes. PTI SVKABM.
This is unedited, unformatted feed from the Press Trust of India wire.