Board of Zomato approves investment of USD 5 mn in Mukunda Foods

At meeting held on 15 March 2022

The Board of Zomato at its meeting held on 15 March 2022 has approved the acquisition by way of subscription of 13,289 Series B1 compulsorily conve1tible preference shares and 10 (Ten) equity shares collectively aggregating to 16.66% of the share capital of Mukunda Foods (Mukunda) on a fully diluted basis, for an aggregate cash consideration of INR equivalent of USD 5 million.

Mukunda is a food robotics company that designs and manufactures smart robotic equipment to automate food preparation for restaurants. Their products enable restaurants to scale rapidly while maintaining consistency in food quality and customer experience across multiple outlets. Mukunda also helps restaurants to become more efficient by reducing manpower cost, wastage and increase kitchen throughput. The company's investment will help Mukunda Foods scale faster, help reduce restaurant food prices, expand margins, and enhance customer delight.

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