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Zomato acquires TechEagle Innovations for undisclosed amount; drone-based food delivery to get a boost

New Delhi: Zomato on Wednesday said that it has acquired Lucknow-based startup TechEagle Innovations, for an undisclosed amount, to carve a path toward drone-based food delivery in India.

TechEagle will help in creating a hub-to-hub delivery network powered by hybrid multi-rotor drones, Zomato said in a statement.

Zomato, however, did not share any financial details of the acquisition.

Commenting on the development, Zomato founder and CEO Deepinder Goyal said, "We are currently at the early stage of aerial innovations and are taking baby steps towards building a tomorrow wherein users can expect a drone to deliver the food they ordered online."

"We believe that robots powering the last mile delivery is an inevitable part of the future and hence is going to be a significant area of investment for us," the Zomato founder said.

Food delivery business currently contributes about 65 percent to the overall revenue of the company, Zomato said.


Updated Date: Dec 05, 2018 17:53 PM