022 24172311
Venture Capital
Private Equity

DataBoard Demo
Venture Capital | 13 September 2013

Dosamatic Maker Mukunda Foods Raises Funds From IAN

by Pranali Shah
Dosamatic Maker Mukunda Foods Raises Funds From IAN
Share on Social Media Email Facebook Twitter Linkedin

Mukunda Food’s Automatic Dosa machine Dosamatic raises funds from Indian Angel Network, NextBigWhat states. Mukunda Foods will use the funds raised to develop the DosaMatic, establish it as a brand, streamline the manufacturing and create sales and service channels.

Mukunda Foods is a design & development startup that makes equipment for use in the Indian food retail segment. The startup’s first product, Dosamatic, is a table top Dosa making machine specifically designed for the commercial foodservice industry.

Founded by Eshwar K Vikas & Sudeep Sabat in May 2012, Mukunda Foods is also an IAN incubatee company, which graduated from the IAN Incubator and raised investment. The company is present in Bangalore and is looking at expanding to other south Indian cities like Hyderabad and coimbatore.

The DosaMatic is capable of making fresh dosas in a minute at the press of a button and Mukunda Foods holds the patent for this product.

IAN was started in April, 2006. The Network looks at investing upto USD 1 Mn, and exiting over a 3 to 5 year period through an IPO, M&A or strategic sale.

Recently, IAN invested undisclosed amount in Gurgaon-based IndiaCollegeSearch. It has also invested in Gram Vaani,Nithya, Lonali,Lanka BPO Academy and other.

In this sector, Sequoia Capital made an investment of about $3.6 Mn- $5.4 Mn in Indian ready made food company Best Foods Enterprises. The company sells a range of Indian breads, Idli-Dosa batter, Rose Cookies, Diamond Chips and other food items branded as ID Special to retail outlets.

In August, Cookie Man, the Indian arm of Australian Foods has acquired Sathyam Cinemas eatery ID (Idly and Dosa).

SIDBI Invests In NPAsource.com

SIDBI Invests In NPAsource.com

NPAsource.com, the online portal for e-auction of NPA’s of financial institutions has received risk capital funding from SIDBI after the detailed assessment of the credibility and growth possibility of NPAsource.com for resolving bad debts of various banks, BL states.


UTI Ventures Divests its Shares in Ascent Capital

UTI Ventures Divests its Shares in Ascent Capital

UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.

Enter your Email address
to receive all the news