Mukunda Foods, a Bengaluru-based food robotics startup, has raised USD 5 million in a funding round led by Zomato, taking the company’s post-money valuation to USD 30 million.
The company plans to utilize funds to expand its reach across QSRs, cloud kitchens and the fine dine segment. Mukunda Foods also plans to use a part of the raised capital to introduce services to help the food and beverage businesses scale.
The company had previously raised funds from Ncubate Capital, Singapore Angel Network, and Indian Angel Network.
Mukunda Foods is a food robotics company that designs and 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. It also helps restaurants become more efficient by reducing manpower costs, wastage and increasing kitchen throughput, it said in a press statement. It has automated the preparation of multiple cuisines like North Indian Food, South Indian Food, Chinese Food, fried food, pizzas, Continental & Biryani.
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Speaking on recent funding round, Eshwar K. Vikas, CEO & Co-Founder, Mukunda Foods, said, “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 the F&B brands increase their profitability and grow fast with our kitchen technologies. This common interest will help the food and beverage industry greatly.”