Mukunda Foods, a food robots business, has raised $5 million in a funding round led by Zomato, bringing its post-money valuation to $30 million. Ncubate Capital, Singapore Angel Network, and Indian Angel Network have all previously invested in the brand. In total, it has raised roughly $8 million, including the most recent round.
The funds will be used to expand the company’s reach into quick-service restaurants, cloud kitchens, and fine-dining establishments.
Mukunda Foods is a food robotics firm founded in 2012 by Eshwar K Vikas and Sudeep Sabat. It develops and manufactures devices for quick-service restaurants and cloud kitchens that automate the cooking process. The company claims that their machines enable restaurants scale while preserving consistency in food quality and customer experience across locations, as well as reducing human expenses and wastage and increasing kitchen throughput.
It has automated the preparation of several cuisines and dishes, such as north Indian, south Indian, Chinese, pizza, biryani and others.
Vikas said in a statement, “Zomato and Mukunda Foods share the vision of reaching every restaurant and helping them grow. While Zomato does it by helping restaurants reach more customers and increasing their revenues, we help food and beverage brands increase their profitability and grow fast with our kitchen technologies. This common interest will help the F&B industry greatly.
A Zomato spokesperson said, “Our investment will help Mukunda Foods scale faster, help reduce restaurant food prices, expand margins and enhance customer delight.”
Zomato’s investment comes as the company prepares to launch Zomato Instant, a 10-minute meal delivery service that has generated debate online.
