Online restaurant booking and food delivery company Zomato has acquired Lucknow-based drone startup TechEagle Innovations, it said in a statement.
Online restaurant booking and food delivery company Zomato has acquired Lucknow-based drone startup TechEagle Innovations, it said in a statement. Gurgaon-based Zomato intends to work on delivering food through TechEagle drones and aims to develop hub-to-hub delivery network powered by hybrid multi-rotor drones. In May, TechEagle had pilot-tested delivery of tea, using battery-powered and GPS-fitted drones.
“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,” said Deepinder Goyal, founder and CEO of 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,” added Goyal.
TechEagle was founded in 2015 by IIT-Kanpur student Vikram Singh Meena. “We are excited to 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,” said Meena.
The development comes amidst the exit of its CFO Sameer Maheshwary in less than six months. “In a short period of time, Sameer’s been transformative for Zomato, has built a great team, and a lot of long-term capabilities into the system,” said Goyal.
“The growth has been exhilarating – Zomato has already grown 2x within the last 6 months,” said Maheshwary without disclosing about his next move. “I will be moving on to pursue different personal and professional interests,” he added.
Zomato has seen multiple top management exits in the past few months. The biggest one being Pankaj Chaddah, its co-founder who quit in March this year. In June, its chief business officer, Mukund Kulashekaran left the company. Its COO Deepak Gulati and Samir Kuckreja, head of its cloud-based point-of-sale system, Zomato Base quit the company in September and October 2018 respectively.