Zomato has acquired TechEagle Innovations, a Lucknow-based startup that works exclusively on drones, for an undisclosed amount.Zomato said this acquisition will help them pave the way towards drone-based food delivery in India, creating a technology that will power hub to hub delivery network comprising of hybrid multi-rotor drones.
"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" said Zomato co-founder and CEO Deepinder Goyal.
Founded in 2015 by Vikram Singh Meena, TechEagle has been actively involved in the development of unmanned aerial vehicles, primarily focusing on custom-made drones capable of carrying up to 5 kg payload.
"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" Goyal said.
This is Zomato's second delivery focused acquisition in India after buying hyperlocal logistics startup Runnr in an all stock deal in September last year. The company claims to currently have 1.5 lakh delivery partners as part of its last mile delivery fleet.
Food delivery business currently contributes about 65% to the overall revenue of the company, as compared to 35% in January this year. The company claims to have achieved 21 million monthly orders in October this year, up from 3.5 million monthly orders in January this year.
Earlier this week, Zomato announced that it is launching its online ordering and food delivery services in 30 more cities over the week, bringing the total presence to 93 cities in the country. Shortly, it plans to make the service available in 100 cities across the country.
