Zomato has acquired a 16.66% stake in Mukunda Foods for $5 million and granted a loan of $150 million to Blinkit, an online shopping platform.
Market NewsEdited by Rahul KarunakarUpdated: March 15, 2022 7:47 pm IST
Zomato Acquires 16.66% Stake In Mukunda Foods; Grants $150 Million Loan To Blinkit
Indian food-delivery firm Zomato Ltd’s board has approved the acquisition of a 16.66% stake in Mukunda Foods, a food robotics company, for $5 million and granted a loan of $150 million to Blinkit, an online shopping platform.
From cooking-making to burger-flipping, many foods and beverage businesses are beginning to discover the benefits of robots to improve their productivity.
Mukunda is a food robotics company that helps automate food preparation at restaurants by designing and manufacturing intelligent robotic equipment.
Zomato said, “our investment will help Mukunda Foods scale faster, help reduce restaurant food prices, expand margins, and enhance customer delight.”