Food robotics company Mukunda raises $ 8 mn in round led by Zomato

Food robotics company Mukunda Foods has raised $ 8 million in a funding round led by Zomato, taking the company’s post-money valuation to $ 30 million. Zomato invested $ 5 million as part of the funding round.

The company had previously raised funds from Ncubate Capital, Singapore Angel Network, and Indian Angel Network. The company plans to use funds to expand its reach across QSRs, cloud kitchens and the fine dining segment. The company also plans to use part of the raised capital to introduce services to help the F&B businesses scale.

Mukunda said its 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

Eshwar K. Vikas, CEO, and 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. ”

Zomato’s investment in Mukunda has come amid the food delivery’s announcement to launch a 10-minute delivery service. The company said earlier this week that the plan will be accomplished by using in-kitchen robotics at hyperlocal kitchens where food will be packaged within 10-minutes.

As part of the service, experts said that restaurants will be required to dispatch a certain number of pre-cooked or half-cooked food to the Zomato stations. However, Business Standard reported earlier that several restaurants are averse to the idea as they fear that participating in the program might hurt their quality control and brand value.

Meanwhile, there has been an uproar against the quick trade model itself as gig workers might be put at risk due to the pressure of making faster deliveries. Zomato founder and CEO Deepinder Goyal has tried to assuage such concerns, saying that delivery workers would not be incentivized or penalized on the basis of their delivery speed.

The company has said that the quick commerce set up would require delivery executives to travel at the same average speed of 20 kilometers per hour as they do now – as the distances between the delivery hubs and customer doorsteps will be minimized to 1-2 kilometers.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor


Leave a Comment