Mukunda Foods Raises $5 Million In Series A Funding Round Led By Zomato Funds will be utilized to expand its reach across quick service restaurants, cloud kitchens and fine dine segment
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Food robotics company, Mukunda Foods, on Thursday announced to have 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. Funds will be utilized to expand its reach across quick-service restaurants, cloud kitchens and fine dine segments. The company also plans to use a part of the raised capital to introduce multiple returns on investment based models to help the food and beverage businesses scale.
"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 food and beverage brands increase their profitability and grow fast with our kitchen technologies," said Eshwar K. Vikas, CEO and co-founder, Mukunda Foods.
"Our Investment will help Mukunda Foods scale Faster, help reduce restaurant food prices, expand margins and enhance customer delight," said Zomato spokesperson.
Mukunda Foods is a food robotics company that designs and manufactures products that automate the cooking processes for quick-service restaurants and 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. Zomato and Mukunda Foods share the vision of reaching every restaurant and helping them grow.