Elanpro, a technology-driven commercial refrigeration company, has acquired 41% stake in Wendor, an early-stage smart vending startup.
The strategic alliance will enable Wendor to harness Elanpro’s extensive network and industry expertise in food and beverage retail, accelerating its expansion in the cashless, 24/7 vending market.
Under the agreement, Elanpro will support Wendor in establishing its manufacturing capabilities and navigating 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 AI and 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 cities.
Wendor aims to sell 15,000 machines in the next five years. The two companies estimate the partnership will help generate ₹20 crores in annual revenue by FY 25-26.
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,” he added.
“We aim to democratize 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 optimization, and procurement will be key in supporting our continued success,” said Lakshit Anand, Founder & CEO, Wendor.
The company registered a revenue growth of 27% in the calendar year 2024 to ₹276 crore. The group recorded a turnover of ₹240 crore in FY 23-24.
