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Food robotics company Mukunda Foods has raised $5 million in a funding round led by Zomato, taking the company’s post-money valuation to $30 million. The brand has previously raised funds from Ncubate Capital, Singapore Angel Network, and Indian Angel Network. So far, the brand has raised a total of around $8 Million, including the current fundraising.
The company plans to utilize funds to expand its reach across QSRs, Cloud Kitchens, and Fine Dine segments. The company also plans to use a part of the raised capital to introduce multiple ROI-based models to help the F&B businesses scale.
Mukunda Foods is a food robotics company that designs & manufactures products that automate the cooking processes for QSR & Cloud kitchens. These products enable restaurants to scale rapidly while maintaining consistency in food quality and customer experience across multiple outlets. Mukunda also helps restaurants become more efficient by reducing manpower costs, wastage and increasing kitchen throughput
Commenting on the fundraising, Eshwar K. Vikas, CEO, and Co-Founder, of Mukunda Foods, adds, “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 & increasing their revenues, we help the F&B brands increase their profitability & grow fast with our kitchen technologies. This common interest will help the F&B industry greatly.”
“Our investment will help Mukunda Foods scale faster, help reduce restaurant food prices, expand margins and enhance customer delight,” Zomato spokesperson added.