Zomato to invest 149 crore in two Indian tech-firms

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Biznextindia : Food delivery agrregator Zomato has announced that its board of directors at its meeting held on Thursday has approved the investments in two Indian tech companies – Adonmo Private Limited and UrbanPiper Technology Private Limited.

Zomato will buy 19.48 stake in Adonmo Private Limited for an aggregate cash consideration of Rs. 112.20 crore. The company also acquire 5% stake in of UrbanPiper Technology Private Limited, for an aggregate cash consideration of Rs.37.38 crore.

Pursuant to the approval of the Board, the Company has finalized and executed the relevant agreements for the Proposed Investments. The Proposed Investments are each subject to fulfilment of ce1tain customary conditions precedent and other terms and conditions agreed under the investment agreements.

UrbanPiper is a B2B software platform that acts like a “middle layer” between restaurants and food ordering and delivery players and enables restaurants to seamlessly integrate with multiple players through a single digital interface. 80% of restaurants still use legacy systems or manual processes leading to delay in order flow and errors in order processing. UrbanPiper solves this problem for restaurants through teclmology helping more restaurants become “food-delivery ready”. It cutTently processes 12 million orders a month at 23,000+ restaurant locations in the country.

AdOnMo is an ad-tech company that is taking targeted digital advertising beyond personal devices to outdoor digital screens. Its proprietary technology enables cloud-connected digital screens with contextual and targeted adve1tising capabilities. Outside of online marketing (web / mobile app), this is the only medium where ads can be served (a) digitally and in real time, (b) customized and targeted for hyperlocal audiences.

 

 

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