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Elanpro acquires 41% stake in Wendor

EntrackrEntrackr · 5m ago
Elanpro acquires 41% stake in Wendor
Medial

Elanpro acquires 41% stake in Wendor The deal aims to expand market reach, enhance sales and service support, optimize logistics and finance functions, and strengthen marketing infrastructure. Commercial refrigeration company Elanpro has acquired a 41% stake in smart vending startup Wendor, aligning with its strategy to lead the retail industry's shift towards AI and IoT-driven solutions. The partnership will enable Wendor to leverage Elanpro’s network and expertise in food and beverage retail, accelerating its growth in the cashless vending market. Elanpro will support Wendor in establishing manufacturing capabilities and navigating regulatory changes related to BIS. The deal aims to expand market reach, enhance sales and service support, optimize logistics and finance functions, and strengthen marketing infrastructure. Founded in 2017 by Ayush Pahwa, Lakshit Anand, Chaitanya Marwaha, and Harsh Gautam, Wendor offers smart vending machines powered by a proprietary SaaS platform for dispensing snacks, beverages, and other items. The startup uses AI and IoT for real-time monitoring and stock management. It has sold 1,200 kiosks across 60 cities and plans to sell 15,000 machines in the next five years. The two companies estimate the partnership will help generate Rs 20 crore in annual revenue by FY26. Elanpro, established in 2009, provides refrigeration products for the hospitality, retail, and pharma sectors. The company recorded Rs 276 crore in revenue in 2024 and aims to invest in innovative startups to strengthen its market position.

Nykaa acquires majority stake in Earth Rhythm

EntrackrEntrackr · 7m ago
Nykaa acquires majority stake in Earth Rhythm
Medial

Omnichannel beauty platform Nykaa has acquired a majority stake in the homegrown clean beauty brand Earth Rhythm. This acquisition follows Nykaa's earlier minority stake investment in Earth Rhythm in 2022. The company has now secured a significant majority stake through a combination of primary and secondary transactions. Leveraging its ecosystem and expertise, Nykaa aims to drive Earth Rhythm's growth across various categories. The platform plans to enhance the brand's potential by focusing on innovation, marketing strategies, and omnichannel distribution, while maintaining Earth Rhythm's core values and unique positioning. Founded in 2019 by Harini Sivakumar, Sivakumar Varadarajan, and Arun Kumar, Earth Rhythm is an internet-first brand offering a diverse range of organic beauty products. Its portfolio spans skincare, hair care, makeup, and lip care, featuring items like face masks, toners, hair oils, shampoos, conditioners, lipsticks, and lip balms. The brand is known for its vegan, cruelty-free, biodegradable products made without artificial fragrances. Headquartered in Gurugram, Earth Rhythm previously raised $9.13 million from Anicut Capital and other investors. The brand has built a strong presence by offering clean, clinically effective beauty and personal care solutions. Earth Rhythm has experienced significant progress in a short period, demonstrating strong sales growth, customer acquisition, category expansion, innovation, and brand awareness. With a catalog of over 250 SKUs across six categories, it continues to expand its market presence. Nykaa, an omnichannel marketplace in beauty, wellness, and fashion, offers a wide range of private labels, including skincare brand Dot & Key, jewelry line Pipa Bella, and apparel brands Gajra Gang and Kica. In the beauty and fashion space, Nykaa faces competition from major players like Amazon, Flipkart, Myntra, and niche platforms such as Purplle.

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