Laalsa’s 'Yumzy' food delivery app bags $1 Million Funding from Indian & US Based Investors
Hyderabad July 6th, 2020: Laalsa a Hyderabad based food tech company has developed 'Yumzy' an innovative artificial intelligence (AI) based software application. This app (Yumzy) exclusively for restaurants has bagged one million dollar funding from Indian and US based investors.
With this, Yumzy, is regarded as first of its kind Food Delivery digital Platform developed by Indian software engineers and with this funding of one million dollars the company is all set to expand its presence across India providing jobs to one lakh youth in the coming days.
Yumzy Initiated by Hyderabad Based Food Tech Company – “Laalsa”, started its operations around few years ago, intending to bring in an innovative digital-platform to the overly competitive, online food-ordering market. There have already been some big names in the market for online food delivery in the past few years, with some very big names such as Swiggy, Zomato, Food Panda, UberEats, and others ceasing to exist in a short time. Laalsa, however, was bent on creating a fully sustainable, online digital platform for restaurants.
With over 6000 Restaurants on-board, Yumzy, the brainchild of Laalsa, caught the attention of Indian & US based Angle Investors and was successful in raising $1 Million in funding. With the investment provided, Yumzy proved to be an instant success across four major cities - Hyderabad, Vizag, Bengaluru and Chennai.
Speaking about the product, Laalsa’s CEO, Suresh Redyam – A Technopreneur said, “At present, the need for alternate platforms for restaurateurs and hoteliers has become a need-of-the-hour. High dependency on food aggregators coupled with high commission-based models is leaving Restaurants in a fix, and that’s where our Food Science platform comes into the picture.”
“Enabling and Empowering Restaurants” is Laalsa’s mission statement. To bridge the gap between Food Aggregators and lack of technical know-how, Laalsa has come up with unique & intuitive solutions for the benefit of the F&B Industry.
Yumzy, app is incorporating artificial intelligence and consumer behavior analytics, provides restaurants with valuable insights and helps restaurateurs make well-informed decisions. Food aggregators, besides levying high commissions on restaurants, are getting involved in conflicting business models, opening cloud kitchens and using per-existing consumer data to their benefit. Although this seems like a negligible aspect, it is affecting the customer-base of restaurants significantly.
“These hurdles faced by Restaurants today are what we wish to tackle. By allowing restaurants to have complete control over their affairs and customers, Laalsa aims at being an enabler rather than an aggregator”, says Suresh Redyam, CEO of Laalsa, who’s expecting over 15,000 restaurants signing up with Laalsa by the end of this year.