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• The acquisition of 41% stake will complement��Elanpro����ֱ�� market approach in the fast-growing areas of AI and IOT
• Wendor plans to utilise the fresh capital to drive domestic expansion

New Delhi, 22 January, 2025:��Leveraging the momentum of the retail boom,��Elanpro, India����ֱ�� technology driven commercial refrigeration company,��announced���ٳ����acquisition���Ǵ���41%��stake in��Wendor, an early-stage smart vending startup. The investment aligns with��Elanpro����ֱ�� overall strategy to lead the shift in the retail industry����ֱ�� convenience paradigm through AI and IoT driven solutions.

The strategic alliance will enable��Wendor��to harness��Elanpro����ֱ�� extensive network and industry expertise in food and beverage retail, accelerating its expansion in cashless, 24/7 vending market. Under the agreement,��Elanpro��will support��Wendor��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.

Founded in 2017,��Wendor��offers automatic, integrated, smart vending machines powered by its��proprietary SaaS platform��for dispensing items like snacks, beverages, FMCG, tech accessories and industrial equipment. The self-serve retail startup uses�����������Ի���computer vision��to boost vending success, analyse consumer behaviour and product preferences, and optimize end-to-end refilling and stock management through data-driven demand forecasting. The company employs��IoT��for real-time remote monitoring, troubleshooting and predictive refilling and maintenance. The pure-play startup has sold��1200��touchscreen, web-based kiosks across��60�������پ����.

Expressing enthusiasm about the partnership,��MR. SANJAY JAIN, DIRECTOR, ELANPRO��said,��“Convenience and automation are reshaping India����ֱ�� 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.”

Wendor��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.

“We aim to democratize vending technology and make it accessible to everyone in India,”��said��MR. LAKSHIT ANAND,��FOUNDER & CEO, WENDOR.

“We were looking for a strategic partner to accelerate our growth and capture the rapidly expanding automated retail market. With Elanpro����ֱ�� 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 optimization, and procurement will be key in supporting our continued success”,��he further added.

Elanpro��offers a broad portfolio of refrigeration products catering to hospitality, retail and pharma sector. Poised to become a forerunner in refrigeration technology, the company aims to consolidate its position by investing in new-age innovative startups, backward integration and service infrastructure.

The company registered a revenue growth of��27 percent��in the calendar year��2024��to��Rs. 276 crore. The group recorded a turnover of��Rs. 240 crore��in FY 23-24.