Zomato 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.
TechEagle will help in creating a hub-to-hub delivery network powered by hybrid multi-rotor drones, Zomato said in a statement.
The company, however, did not share any financial details of the acquisition.
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.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app