Zomato said on Monday that it has made an investment in Hyderabad-based startup TinMen, as the restaurant food delivery company works to bolster its logistics infrastructure. Neither of the companies disclosed the financial details of their agreement.
In a press statement, Zomato chief executive Deepinder Goyal said the investment in TinMen is in line with his company's vision to make kitchens redundant in homes across the world. As part of the agreement, Zomato will help TinMen expand its presence outside Hyderabad, Goyal said.
TinMen competes in the same space as some of Zomato's small rivals such as Swiggy and Freshmenu. As of recently, TinMen was seeing about 1,000 orders on its platform each day from less than a dozen areas in Hyderabad. TinMen offers "home cooked meals." Zomato said the company will initially work with TinNen to scale its operation in Hyderabad.
Goyal said, "TinMen is already delivering over 30,000 orders a month, and we see this number steadily multiplying over the next 6 to 9 months. [...] Through TinMen’s unique operating model, they also generate a steady stream of revenue for their home-chefs - thereby creating earning opportunities for people who love to cook great food out of the comfort of their homes."
The announcement on Monday comes on the heels of Zomato becoming a profitable company in all the regions where it operates. The company has pledged to give back to the community and further improve its service in the days to come.
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