Zomato acquires drone delivery startup TechEagle Innovations

Aditi Shrivastava / ET Bureau / Dec 6, 2018, 12:10 IST

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The acquisition comes in roughly a year after the food tech company bought last mile delivery fleet startup Runnr.

Zomato acquires drone delivery startup TechEagle Innovations

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

(This story originally appeared in

on Dec 5, 2018)

NEW DELHI: Zomato has acquired a drone delivery startup TechEagle Innovations for an undisclosed amount, as it looks to enable a drone-based delivery ecosystem in India.
Lucknow-based TechEagle Innovations works exclusively on drones and will help Zomato's ambition to create technology that will power hub to hub delivery networks powered by hybrid multi-rotor drones.
The acquisition comes in roughly a year after the food tech company bought last mile delivery fleet startup Runnr.
“We are currently at the early stage of aerial innovations..,” said Deepinder Goyal, Founder & CEO, Zomato. “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,” he added.

TechEagle was founded in 2015 by IIT-Kanpur student Vikram Singh Meena with a focus on custom-made drones capable of carrying up to 5 kg payload.
Zomato claims to have more than 75,000 restaurant partners offering food delivery services across about 100 cities in India. The food delivery business contributes 65% of revenue to Zomato’s overall business, the company said in a statement. The company competes with Swiggy, Foodpanda and UberEats in its food delivery business.
Gurugram-based Zomato, which started as a restaurant search and discovery platform in 2008, now offers services including food delivery, take away services, and table reservations among others.
The company is backed by Alibaba's payment affiliate Ant Financial, InfoEdge, Sequoia Capital and VY Capital.

About the Author

Aditi Shrivastava

I write on emerging companies, venture capital, ecommerce and policy for The Economic Times. As a startup media writer, I constantly look for new businesses that are challenging the status quo, disrupting legacy sectors or creating new industries. Prior to this, I worked with Stellaris Venture Partners, an early-stage venture fund based out of Bengaluru. This stint taught me the nuances of evaluating businesses, people, and markets. I can be reached at @Aditis90 on Twitter and Aditi.Shrivastava1@timesgroup.com on email.

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