Two seasoned investment bankers—Bharat Bhalla and Varun Kapur—are betting big on their instant meal bowls' venture. Will consumers take a Yu turn?
Bharat Bhalla and Varun Kapur, Cofounders Yu food labs
When pitched over phone, the hot idea got instantly shot down. When heaved via email, the immediate response was lukewarm. It was some serious, and real, food for thought for Bharat Bhalla and Varun Kapur. The two seasoned investment bankers were trying to find backers for their maiden packaged food venture Yu. Though the product proposition was compelling—instant meal bowls without preservatives, additives, artificial ingredients; refrigeration-free shelf life of 12 months, ready in under five minutes by just adding hot water and value-for-money price range from Rs75 to Rs100 per bowl—convincing investors didn’t turn out to be a cakewalk.
The duo was trying to figure out the missing ingredient. Their background, for sure, was not the weak link. Bhalla started his career at Allianz PE in New York, had a stint with Yes Bank investment vertical and later co-led a single family office investing $200 million in India, the UK and US. Kapur, meanwhile, had 18 years of experience in investment, M&A, strategy, business incubation, financial and regulatory management. The technology used in preserving food—lyophilization—too was a cut from the rest. “Nasa uses this tech to send food to astronauts on space missions,” claims Bhalla, who along with his co-founder was thinking out-of-the-box to crack the food puzzle.
(This story appears in the 11 February, 2022 issue of Forbes India. To visit our Archives, click here.)