Zomato takes 8% stake in kitchen appliances startup Byondnxt for Rs 6,000
Zomato is acquiring an 8% equity stake in kitchen appliances startup Byondnxt Smart Home Pvt Limited, for Rs 6,000, the company said in an exchange filing on Tuesday.
“Board of directors of Zomato has considered and approved the subscription of up to 600 equity shares of Byondnxt Smart Home Pvt Limited (“Byondnxt”), for a total purchase consideration of Rs 6,000/ at a price of Rs 10 per share.
Byondnxt, a business-to-consumer (B2C) firm which designs and manufactures kitchen appliances was founded by Eshwar Vikas who is also the founder of Mukunda Food Pvt Ltd.
In March 2022, Zomato paid $5 million for a 16.66% stake in Mukunda which offers smart kitchen equipment to B2B customers.
Also Read: Zomato's going-out business clocks Rs 1,849 crore in gross sales in Q2
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