Zomato acquires Drone Delivery startup TechEagle

In its pursuit towards innovation in food delivery technology, Zomato has acquired TechEagle Innovations for an undisclosed amount.

TechEagle Innovation is a startup based out of Lucknow which focusses on the development of custom made Hybrid multi-rotor drones which can fly with a payload of upto 5kg. This startup was founded in 2015 by IIT Kanpur Alumni Vikram Singh Meena when he was in his college.

Zomato currently serves 22 Million Food Delivery orders from its platform. Its revenue share from food delivery has grown upto 65% of its total revenue. It is channelizing its effort towards increasing its delivery network so that it can provide its services in more and more uncovered areas.

This is the second acquisition by Zomato in India after it acquired hyperlocal delivery startup Runnr in September last year. TechEagle would help Zomato innovate in Drone Delivery technologies which is poised to be the future for logistics. Recently Ministry of Civil Aviation in India has allowed the use of drones for commercial purpose and has rolled out a policy called Drone Regulation 1.0. Though, currently it still has a ban on using drones for delivery of goods and foods, it is expected that in Drone Regulation 2.0, there would be a clause for the application of drones for e-commerce delivery.

If all goes well, Zomato would be successful in building a high technology and optimized hub to hub delivery network which would help it optimize the operation cost in food delivery which is currently one of the biggest money guzzlers in food delivery tech startup world.

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