Zomato acquires TechEagle, a drone delivery startup

Zomato, TechEagle Innovations, Drone Delivery
  • TechEagle Innovations is a Lucknow-based startup that works exclusively on drones
  • Zomato plans on creating technology that will power hub to hub delivery network powered by hybrid multi-rotor drones
  • Zomato has over 75,000 restaurant partners offering food delivery services across ~100 cities in India
  • Zomato acquired Runnr last September and currently has over 1.5 lacs delivery partners as a part of its last mile delivery fleet. Zomato achieved the 21 million orders a month in October 2018
  • Food delivery business currently contributes about 65% to the overall revenue of the company; this is comparable to 35% in January 2018

New Delhi, December 5, 2018: Paving the future of food delivery, Zomato has acquired TechEagle Innovations – a Lucknow-based startup that works exclusively on drones. TechEagle will help Zomato carve a path toward drone-based food delivery in India, creating a hub to hub delivery network powered by hybrid multi-rotor drones.

TechEagle was founded in 2015 by Vikram Singh Meena when he was a student at IIT-Kanpur. Since then, his young startup has been actively involved in the development of unmanned aerial vehicles, with prime focus on custom-made drones capable of carrying up to 5 kg payload.

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Speaking on the development, Deepinder Goyal, Founder & CEO, Zomato, 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 are thrilled to have Vikram and his team join us towards accomplishing this mission. Our first ‘delivery job’ currently is to design multi-rotor drones that can pick up a payload under 5 kg and set up drone delivery circuits for reducing the last mile delivery leg. 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 food tech giant has been on a roll lately, expanding its online ordering and food delivery business to 100 cities in India and launching its premium subscription program, Zomato Gold, in Jakarta and Manila. Similarly, HyperPure has had a favourable reception so far and is slated to open its next centre in the NCR in a couple of weeks. Through HyperPure, Zomato has already delivered over 15,000 orders, moved 1500 metric tons of fresh produce and has orders booked for over $6 M per month. Zomato’s corporate catering business, Food@Work, has also been expanding into new territories.

“Zomato is one of the most innovative technology companies in India, and the only company with a singular focus on food. We are excited to be a part of the team and together build something which will certainly play a significant role in the future of primary and secondary logistics in the food supply chain in India,” muses Vikram.

Zomato currently delivers 22 million monthly orders and is leaving no stone unturned as far as last mile delivery is concerned. The company currently boasts a last mile delivery fleet of 1.5 lac partners.

About Zomato:

Founded by Deepinder Goyal and Pankaj Chaddah in 2008, Zomato is a restaurant search and discovery platform providing in-depth information for over 1.4 million restaurants across 24 countries and serves more than 50 million users every month.

In addition to restaurant search and discovery, Zomato has expanded its offering to Online Ordering (Food Delivery), Take Away Services (Zomato Pickup), Table Reservations, B2B food ingredient supply for restaurants and Zomato Piggybank, creating cutting-edge technology to connect restaurant businesses and customers. In addition to these services, Zomato is also used by consumers to discover, rate, and review restaurants, as well as create their own personal networks of fellow food enthusiasts for trusted recommendations.

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