The problem
City life runs on instant gratification, but restaurant discovery was word-of-mouth, grocery runs ate weekend hours, and independent restaurants had no cheap way to reach new customers or source quality ingredients.
How it works
Founded in 2008 as a restaurant search guide, Zomato (now the listed Eternal group) layers three rails: food delivery across 300,000+ restaurants; Blinkit quick commerce dispatching groceries from dark stores in minutes under an inventory-led model where Eternal books the full goods value; and Hyperpure plus District handling B2B restaurant supply and dining-out respectively.
Pain points
Empty fridges at 9pm, tourist-trap restaurant picks, and small eateries squeezed by aggregator commissions with no supply-chain support.
Business model
Take-rates on food orders, product margins on Blinkit inventory sales, Hyperpure wholesale revenue, and restaurant advertising — with scale funding expansion even while quick commerce stays loss-making.
Challenges
Blinkit drives ~73% of group revenue yet hasn’t broken even; the inventory pivot inflates topline while straining working capital; and food delivery — the profitable core — grows only modestly against fierce quick-commerce capex demands.
Funding
- Raised: MISSING (listed 2021; group growth now funded internally — Eternal deployed 2,600+ crore rupees into Blinkit during 2025 alone).
- Valuation: MISSING.
Latest — November 2025
On 27 November 2025 Eternal infused another 600 crore rupees into Blinkit (3,733 shares at ~16.07 lakh rupees each per RoC filings), after 500 crore in January and 1,500 crore in February — backing a unit that posted 9,891 crore rupees in operating revenue against food delivery’s 2,485 crore, with consolidated September-quarter revenue near 13,590 crore rupees.