Zomato, a food delivery startup, established in India, has drawn another deck from its pack of cards after introducing Zomaland, and Zomato Gold. The company has, now, brought new feature called Infinity dining.
The unveiled feature will allow users to avail infinite servings of the whole menu at a fied per person cost depending on the restaurant, according to the company. Whereas, the eligibility criteria for users to qualify for infinity dining is a Zomato Gold membership.
At first, infinity dining option is made available at around 350 restaurants and bars in Delhi NCR, Mumbai and Bengaluru.
Zomato, on the other hand, is an Indian restaurant search and discovery service provider, founded in 2008 by Deepinder Goyal and Pankaj Chaddah.
It currently operates in 24 countries. It provides information and reviews of restaurants, including images of menus where the restaurant does not have its own website and also online delivery.
Zomato has reported that its delivery business have contributed $155 million to the company’s FY19 revenue, as compared to $49 Mn contributed by the dining out business (majorly driven by Zomato Gold). However, the company had also attributed major portion of its $294 Mn loss in FY19, to its food delivery business in India.
On the whole, the company claimed to have earned $206 million in revenue during FY19 against $68 million in FY18.
According to RBI Economic Survey 2019, Zomato has raised $370 Mn funding in 2018, as compared to Swiggy raising $310 Mn in funding during the same period.
The survey has also noted 2018 as the year of foodtech startups. Further, a report by Netscribes has estimated the online food delivery market in India to grow by 34-36% from 2015 to 2020.
Some of the foodtech giants that falls under the similar roof includes Swiggy, FoodPanda, Uber Eats, FoodPanda, Dineout, and many others.