Zomato on Wednesday said it has acquired Lucknow-based startup TechEagle Innovations, for an undisclosed amount, to carve a path toward drone-based food delivery in India. Also Read - Zomato IPO share allotment status: How to check IPO allotment status online
TechEagle will help in creating a hub-to-hub delivery network powered by hybrid multi-rotor drones, Zomato said in a statement. Also Read - Internet down: Zomato, Paytm, Disney+ Hotstar, Amazon, Myntra, many other global services suffered massive outage
The company, however, did not share any financial details of the acquisition. Also Read - Zomato IPO: How to invest via bank, Zerodha, and Paytm Money
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, Goyal said.
Food delivery business currently contributes about 65 per cent to the overall revenue of the company, Zomato said.
This is published unedited from the PTI feed.