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Elanpro acquires 41% stake in Wendor

Entrackr · 1d

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.