Food ventureYuvi Hospitality raises $ 15mn

Gurgaon-based food venture Yuvi Hospitality said it had raised $15 million (about Rs 100 crore) from Chandralekha Construction, a real estate firm, which has worked on projects in the national capital region like Wave City, Jaypee Greens & Wave One. The firm will use the funds to open 10 premium dining lounges and cafes pan-India. It said it had invested Rs 6-7 crore in German-USA war themed eatery ‘Molecule’.

Started witha paid-capital of Rs 10 crore, the food venture co-founded by Vivek Bhargava,Joginder Singh Parihar and Megha Sharma was launched in June 2015.

"We wanted to expand its business apart from real estate and thus lookingforward to invest in interesting projects in ever growing industries such as F&B,"said H P Singh, managing director,Chandralekha Construction.Vivek Bhargava, a Bachelor's in Technology fromITM University, has worked with Google India, Sopra Group and TricoreSolutions. He has promoted 2-3 businesses before starting this venture.