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Elanpro enters automated retail revolution by acquiring stakes in vending startup Wendor
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Friday, 24 January, 2025, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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Leveraging the momentum of the retail boom, Elanpro, India’s technology driven commercial refrigeration company, announced the acquisition of 41% stake in Wendor, an early-stage smart vending startup. The investment aligns with its overall strategy to lead the shift in the retail industry’s convenience paradigm through AI and IoT driven solutions.
The strategic alliance will enable the brand to harness the company’s extensive network and industry expertise in food and beverage retail, accelerating its expansion in cashless, 24/7 vending market. Under the agreement, the company will support the brand in establishing its manufacturing capabilities and navigate regulatory changes related to BIS. The key overarching objectives of the deal include expanding market reach, enhancing sales and service support, optimising logistics and finance functions and strengthening marketing infrastructure.
Sanjay Jain, director, Elanpro, said, “Convenience and automation are reshaping India’s retail experience. We anticipate significant, long-term growth opportunities in the vending retail market as it aligns with the inclination of Indians toward cashless transactions and tech-driven solutions. This investment is a key milestone in our vision of creating a comprehensive and competitive ecosystem beyond the retail store model, that offers greater value to retailers and consumers, and creates new opportunities for D2C brands to contribute to the ecosystem's growth. We look forward to supporting Wendor as they drive growth and amplify product innovation in hyperlocal markets.”
The brand aims to sell 15,000 machines in the next five years. The two companies estimate the partnership will help generate Rs. 20 crores in annual revenue by FY 25-26.
Lakshit Anand, founder & CEO, Wendor, said, “We aim to democratise vending technology and make it accessible to everyone in India. We were looking for a strategic partner to accelerate our growth and capture the rapidly expanding automated retail market. With Elanpro’s expertise in refrigeration and their top-tier distribution and service network, we’re confident we can drive new momentum, unlock further growth opportunities, and maintain our customer-first approach and culture. Additionally, their capabilities in quality control, supply chain optimisation, and procurement will be key in supporting our continued success.”
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