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After $150m loan to Blinkit, Zomato now launches 10-minute food delivery deal – The New Indian Express

By on March 22, 2022 0

By Express press service

BENGALURU: Online food delivery platform Zomato, which recently provided a $150 million loan to fast trading platform Blinkit, announced on Monday the launch of Zomato Instant – food delivery in 10 minutes.

“Innovating and leading the way is the only way to survive (and therefore thrive) in the tech industry. And here we are with Zomato Instant,” said Deepinder Goyal, co-founder and CEO of Zomato.
Customers are increasingly demanding faster responses to their needs.

They don’t want to plan, and they don’t want to wait, he said, adding that after becoming a frequent Blinkit customer, he began to feel that Zomato’s average delivery time of 30 minutes is too much. slow, and soon will have to become obsolete.

Zomato Instant will launch with four stations at Gurugram starting next month. Each of the finishing stations will house 20-30 dishes from various restaurants depending on the predictability of demand and hyperlocal preferences.

Last week, Zomato extended a $150 million loan to Blinkit, which is experiencing a severe cash flow crisis. Zomato has invested aggressively in many start-ups.

Zomato also recently announced the acquisition of a 16.66% stake in Mukunda Foods for $5 million.

Mukunda is a food robotics company that designs and manufactures intelligent robotic equipment to automate food preparation for restaurants.

He also invested in ad tech company Adonmo, a new era start-up pioneering a tech-powered transformation in outdoor advertising, and B2B software platform UrbanPiper.

These investments are part of the company’s strategy to invest in start-ups.

In 2021, Zomato said it plans to invest $1 billion in startups over the next two years and previously invested in Curefit and Shiprocket.