Online restaurant discovery and food delivery company Zomato has invested in Hyderabad-based home-cooked meals delivery startup TinMen.
Earlier, TinMen had raised an undisclosed amount of angel funding from Lead Angel Network in January last year.
However, the companies didn’t disclose the size of the deal. Importantly, Swiggy has a significant lead in Hyderabad over Zomato. The investment will bolster Zomato’s presence in the city of Nizams.
The investment news comes soon after the Gurugram-based foodtech company acquired last mile delivery startup Runnr. The announcement also comes on the heels of Zomato becoming a profitable company in all the regions where it operates.
With a vision to make kitchens redundant in homes across the world, the restaurant food delivery company works to boost its logistics infrastructure.
“Zomato and Tinmen will work together, initially in Hyderabad and then across India, to provide access to better food for more people. Through Tinmen’s unique operating model, it generates a steady stream of revenue for its home-chefs, creating earning opportunities for people who love to cook great food,” said Deepinder Goyal, Zomato co-founder and CEO.
Founded in August 2015 by Chaitanya Degala and Mukesh Manda, TinMen is a home-cooked meal delivery app that currently serves 10 major areas in Hyderabad, and plans to expand to other cities following this investment.
Available on iOS and Android, the startup is currently delivering over 30,000 orders a month, and is looking to steadily multiply this number over the next 6 to 9 months.
The startup has tied up with third-party logistics service providers and runs its own delivery service.
Earlier this month, Zomato was in advanced talks to raise up to $200 million from Alibaba and its payments affiliate Ant Financial at a valuation of $1.1 billion.
Prior to that, the Sequoia funded company had integrated with the Indian ride-hailing app Ola, to allow users to book rides and pay via the company’s mobile wallet, Ola Money.