Zomato Parent Company Eternal Spins Out AI Venture Nugget

Eternal, the parent company of Indian food delivery giant Zomato, has officially spun out its artificial intelligence venture, Nugget, into a separate legal entity. The 1.5-year-old AI business was transferred to a new parent company, Carthero Technologies Private Limited (CTPL), through a slump sale valued at ₹35 crore.

Nugget provides enterprise AI solutions, including conversational AI, voice assistants, workflow automation, and agentic AI, to external businesses. According to Dushyant Garg, head of Nugget, the venture has achieved an average of one enterprise deal per week without any spending on advertising or marketing.

The platform's client base extends to major private banks, insurance companies, retail brands, D2C businesses, manufacturers, and e-pharmacies. Notably, Nugget also serves Zomato's main food delivery competitor, Swiggy. This strategic move aligns with a broader industry trend where consumer internet companies are commercializing their internal technology expertise into AI-powered enterprise software.

Nugget generated ₹7.2 crore in revenue in its first full year of operation, a fraction of Eternal's overall revenue but demonstrating the AI unit's commercial viability. Garg stated that the technology has matured beyond internal problem-solving, prompting the expansion into the external enterprise market. This spin-off positions Nugget as a potential new growth engine for Eternal, alongside its core food delivery and quick commerce businesses.