Street food restaurant chain Yumlok is 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. It plans 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,” Yumlok Founder and CEO Avinash Gupta said.
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.
The company plans to expand its footprint through a combination of company-owned and franchised outlets.
Yumlok plans to open outlets in metros and tier I and II cities such as Ahmedabad, Kanpur, Lucknow, Bhopal and Indore.
Yumlok serves North Indian meal combos, Delhi style chaats and some Indo-Western fusion dishes.