Zomato acquires 16.66% share of kitchen equipment & robotic brand Mukunda Foods

Gurgaon-based Zomato announced that it will acquire 16.66 per cent of share capital of Mukunda Foods on a fully diluted basis through subscription of 13,289 Series B1 compulsorily convertible preference shares and ten equity shares for an aggregate cash consideration of rupee equivalent of USD 5 million.

"Our investment will help Mukunda Foods scale faster, help reduce restaurant food prices, expand margins, and enhance customer delight," it said in a BSE filing.

The proposed investment is subject to fulfilment of certain customary conditions precedent and other terms and conditions agreed under the investment agreement executed between the parties, added the food delivery platform.

Mukunda is a kitchen equipment and food robotics company that designs and manufactures small robotic equipment to automate food preparation for restaurants, enabling them to scale up rapidly while maintaining consistency in food quality and customer experience across multiple outlets.