Wendor Secures $2.5 Million Investment to Advance AI-Powered Vending Technology

Wendor Nets $2.5 Mn To Boost Its AI-Powered Vending Tech

The Indian vending machine market is projected to grow from $150.6 Mn in FY24 to $451.5 Mn by FY32, with Wendor competing against players like Daalchini Technologies and NutriTapRetryClaude can make mistakes. Please double-check responses. AI-driven vending solutions provider Wendor has secured a strategic investment of $2.5 Mn (around INR 21 Cr) from commercial refrigeration company Elanpro, which now holds a 41% stake in the firm. As part of this investment, which is a mix of equity and debt, Wendor will also get operational support from Elanpro, enabling it to leverage an extensive service and logistics network across India, the company said in a statement. Wendor plans to use the fresh capital to boost its AI-powered vending technology, develop computer vision solutions and to strengthen its market presence both domestically and globally. Apart from this, the proceeds would be deployed to bolster its AI-driven vending technology with camera-based product detection systems for real-time tracking, AI systems that predict what products will sell best and automation to improve the customer experience. Founded in 2021 by Lakshit Anand, Wendor develops AI-powered vending machines with digital payment systems. It claims to have placed its vending machines at Rashtrapati Bhawan, Taj Mahal. The company also claims to have brand partnerships with Coca-Cola, Amul, Nivea, Apollo Hospitals, Unilever and Fortis. Wendor plans to launch ten experience centres across key metro and Tier I cities in the next two months. These centres will provide customers with hands-on interaction with the advanced vending solutions. The startup also plans for overseas expansion, targeting markets like the Middle East and Southeast Asia. India is seeing increased competition with several players offering smart vending solutions. Key competitors include Daalchini Technologies, known for IoT-enabled vending machines in corporate and transit sectors; NutriTap Technologies, which targets FMCG brands; and Vendekin Technologies, specialising in touchless payments and AI-driven analytics. According to Markets and Data, the Indian vending machine market was valued at $150.6 Mn in FY24 and projected to reach $451.5 Mn by FY32, growing at a CAGR of 14.71%. The market is expanding due to urbanisation, evolving consumer lifestyles, and the adoption of automated retail technologies. Smart vending machines, equipped with IoT and AI, offer real-time inventory tracking and cashless payments, enhancing user experience. Key deployment areas include corporate offices, public spaces like malls and airports, educational institutions, and healthcare facilities. Currently, snack and beverage vending machines lead the market.

Wendor Raises USD 2.5 million funding from Elanpro to Boost AI Vending, Expand Operations & Go Global

~Strategic funding to enhance AI-driven vending technology, expand operations, and drive international growth~ Wendor, a leading innovator in smart vending solutions, has successfully raised $2.5 million (approximately INR 21 crore) from Elanpro, a market leader in commercial refrigeration equipment. The investment, structured as a mix of equity (INR 5 crore) and debt (INR 16 crore), marks a significant milestone in Wendor's journey toward scaling operations, enhancing AI capabilities, and expanding internationally. As part of this strategic investment, Wendor will also receive operational support from Elanpro, enabling it to leverage an extensive service and logistics network across India. The funding will be directed toward advancing AI-powered vending technology, developing computer vision solutions, and strengthening Wendor's market presence both in India and globally. Wendor is set to enhance its AI-driven vending technology to improve inventory management, minimize shrinkage, and boost operational efficiency. Key areas of investment include, Camera-based product & quantity detection systems for real-time tracking. AI-powered demand forecasting to analyze consumer behavior and optimize product offerings. Advanced automation to create a seamless, data-driven retail experience. Speaking on the funding milestone, Mr. Lakshit Anand, Founder & CEO of Wendor, stated, "This investment marks a turning point in Wendor's mission to revolutionize automated retail. With Elanpro's financial backing and operational expertise, we are well-positioned to execute an ambitious expansion strategy across India and internationally. Our focus on AI-driven innovation will redefine vending as a smarter, more efficient, and engaging retail experience." This collaboration grants Wendor access to Elanpro's robust service infrastructure, including Nationwide warehousing & dealer network for enhanced service capabilities. Import-export logistics support to facilitate international expansion. Integrated hardware, software & refrigeration expertise to ensure reliable maintenance and superior customer service. Mr. Sanjay Jain, Director of Elanpro, expressed enthusiasm about the partnership,"We are excited to support Wendor's growth journey. Our extensive service network, import-export capabilities, and dealer partnerships will provide Wendor the operational muscle needed to scale efficiently. This partnership strengthens Wendor's position in India while setting the stage for global expansion." To reinforce its market presence, Wendor plans to launch ten experience centers across key metro and Tier-1 cities in the next two months. These centers will provide customers with hands-on interaction with Wendor's advanced vending solutions, including AI-based product recognition, Automated inventory tracking, Refrigeration-integrated vending technology. Furthermore, Wendor is eyeing international expansion, targeting the Middle East and Southeast Asia as key growth markets. Wendor has already established strong collaborations, including NAFED and installations at government offices, including Rashtrapati Bhawan. Vending machines at Taj Mahal & Fatehpur Sikri in partnership with Uttar Pradesh State Tourism & Agra Development Authority. Brand partnerships with Coca-Cola, Amul, Nivea, Apollo Hospitals, Unilever, and Fortis. About Wendor Founded in 2021 by Mr. Lakshit Anand, Wendor is a pioneering provider of AI-driven vending and automated retail solutions in India. With a focus on digital payments, mobile integration, and smart vending technology, Wendor is shaping the future of retail automation.