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Bengaluru based Mukunda Foods Pvt. Ltd, which manufactures tabletop dosa-making machines, has received a strategic investment from Ncubate Capital Partners, the venture capital arm of Gurugram-headquartered SAR Group.
The investment has paved the way for Mukunda’s earliest investor, Indian Angel Network (IAN), to make an exit. The financial details of the transaction have not been disclosed.
Mukunda Foods plans to use the fresh capital for expansion and R&D initiatives. Mukunda Foods’ proprietary product is DOSAMATIC. The machine is being used by more than 1,000 customers in over 20 countries.