Zomato buys non-profit Feeding India to tackle food wastage
Delhi-based foodtech unicorn Zomato Media Pvt. Ltd. has acquired non-profit Feeding India to serve the underprivileged and avoid wastage of food.
The Delhi-based non-profit worked closely with Zomato during the Odisha cyclone crisis. The two companies were able to get 75,000 meals along with necessities for daily survival for a month to over 16,500 people within 24 hours, Zomato said in a post on its official blog.
Following the acquisition, Zomato will fund the salaries of the Feeding India team and some core initiatives. It will also fund the development of the Feedi.ng app, which connects donors and volunteers. The company hopes that in a few years, the app will be theplatform to serve at least 100 million underprivileged people every month.
Further, Zomato plans to revamp the Feeding India website, and in the spirit of transparency, the company will publish quarterly financials on the website. It aims to get the first report on Feeding Global – Financial Transparency out by October 2019.
According to FAO estimates, over 190 million people in India are undernourished and one-third of the world’s stunted children are from India. In spite of this, the United Nations estimates that nearly 40% of food in India is wasted or lost.