Zomato picks up stake in robotics firm Mukunda Foods

Bengaluru: Food delivery company Zomato Ltd has acquired a 16.66% stake in Mukunda Foods Private Limited for $5 million, the company said in a regulatory filing on Tuesday.

In a notification filed with BSE, Zomato said it has acquired a stake in the food robotics company, which designs and manufactures smart robotic equipment to automate food preparation for restaurants.

In the filing, Zomato said Mukunda’s products help restaurants scale rapidly while maintaining consistency in food quality and customer experience across outlets.


“Mukunda also helps restaurants to become more efficient by reducing manpower costs and wastage, and increasing kitchen throughput. Our investment will help Mukunda Foods scale faster, reduce restaurant food prices, expand margins, and enhance customer delight,” the company said.

It added the investment was subject to the fulfilment of certain customary conditions and other terms and conditions agreed upon by the parties.

Mukunda Foods Private Limited was cofounded by Eshwar K Vikas and Sudeep Sabat in 2012. According to the company’s website, it has developed six products that have been installed in over 2,000 locations. It counts Wow Momo, Chaayos and Swiggy among its clients.

Deepinder Goyal-led Zomato has previously backed startups such as logistics technology firm Shiprocket, discovery platform for offline retailers Magicpin, and fitness platform Curefit as part of its strategy to deploy $1 billion in young companies. In February it committed an additional $400 million to build the quick commerce category in India.