Deepinder Goyal: The Startup Founder Revolutionizing India’s FoodTech Landscape

In July 2021, when Zomato became India’s first unicorn startup to go public, founder Deepinder Goyal famously ordered a “triple breakfast” to beat the IPO stress, a moment that perfectly captured the entrepreneurial spirit of the man who transformed how millions of Indians order food. What started as a simple solution to lengthy lunch queues at a corporate office has evolved into a foodtech empire that redefined last-mile delivery across the globe. At the age of 31, Deepinder Goyal won the Economic Times Startup of the Year award, marking just the beginning of his remarkable journey as one of India’s most influential startup founders. His entrepreneurial vision extends far beyond traditional food delivery, encompassing quick commerce, restaurant technology, and emergency services through his parent company Eternal.

From Punjab’s Small Town to IIT Delhi’s Innovation Hub

Deepinder Goyal was born into a humble family in Muktsar, Punjab, on January 26, 1983, where his journey as an entrepreneur began in the most unlikely circumstances. Growing up in a middle-class household, Goyal displayed early signs of the analytical thinking that would later revolutionize the foodtech industry. He earned a B.Tech degree in Mathematics and Computing from the Indian Institute of Technology, Delhi, from 2000 to 2005, where his foundation for future technological innovation was solidly established.

Following his graduation, Goyal worked with Bain and Company as a Senior Associate Consultant, gaining crucial insights into corporate strategy and business operations. It was during this period at the prestigious consulting firm that the seed for his entrepreneurial venture was planted. The idea came when, as a math and computer science student, he was particularly frustrated with a pizza order, and his resolve strengthened after seeing colleagues in the company cafeteria talking longingly about food at nearby restaurants. This everyday frustration would soon transform into a billion-dollar business opportunity.

Building Zomato: From Menu Cards to Market Leadership

Goyal and colleague Pankaj Chaddah started uploading menus of neighborhood cafes and restaurants onto the company intranet, with phone numbers, which became a huge hit with coworkers. This weekend venture, initially christened FoodieBay.com in 2008, demonstrated the power of solving simple yet universal problems through technology innovation. The company was rebranded as Zomato in 2010 after securing its first major funding round.

The startup founder’s persistence during the early years proved crucial when Info Edge invested $1 million in FoodieBay.com in August 2011, providing the financial lifeline needed for expansion. Under Goyal’s leadership, Zomato rapidly evolved from a restaurant discovery platform to a comprehensive foodtech ecosystem. In March 2015, Zomato started its food delivery service in India, initially partnering with hyperlocal logistics companies before building its own delivery fleet.

The company’s growth trajectory accelerated dramatically when in January 2020, Zomato acquired Uber Eats’ India business in an all-stock deal, giving Uber a 9.99% stake and increasing Zomato’s market share to 52%. This strategic acquisition demonstrated Goyal’s ability to identify and capitalize on consolidation opportunities in the competitive foodtech landscape.

Historic IPO Success and Strategic Acquisitions

Zomato’s shares got listed on July 23, 2021, with a gain of around 51% over the issue price of Rs. 75, making it India’s first unicorn to go public. The successful public listing transformed Goyal’s personal wealth significantly, with his fortune reaching $650 million based on his 4.7% stake in Zomato, pushing him close to the $1 billion mark.

The entrepreneur’s strategic vision extended beyond traditional food delivery into quick commerce through the acquisition of Blinkit. In June 2022, Zomato’s board approved the acquisition of Blinkit for Rs 4,447 crores in an all-stock deal, marking a pivotal expansion into the rapidly growing quick commerce segment. Goyal explained that quick commerce was a natural extension because it’s also a hyperlocal business that caters to customers’ need for quick delivery of products.

The Blinkit acquisition has proven remarkably successful, with the platform turning operationally profitable in March 2024. Zomato has invested an additional Rs 2,000 crores in Blinkit across two recent rounds in 2025, demonstrating Goyal’s commitment to dominating the quick commerce space where Blinkit leads the Indian market with a 41% share.

Media Presence and Mentorship Through Shark Tank India

Beyond his corporate achievements, Goyal emerged as a prominent figure in India’s startup ecosystem through his role as a judge on Shark Tank India Season 3. Season 3 featured the addition of Deepinder Goyal as one of six distinguished sharks to the panel, where he brought his extensive experience in scaling technology businesses to mentor aspiring entrepreneurs.

His approach on the show reflected his attention to detail and operational excellence. During a pitch, he spotted something most people would miss – a phone number on a poster with only nine digits instead of ten, asking “Where is the attention to detail?” This incident perfectly illustrated the meticulous mindset that helped him build Zomato into a market leader.

However, Goyal announced he will not return as a judge for the fourth season, citing that Swiggy, Zomato’s main competitor, will be sponsoring the new season. His departure marks the end of an influential chapter where he shared entrepreneurial wisdom with the next generation of startup founders.

Current Innovation and Future Vision

Today, Goyal leads a diversified technology conglomerate under the Eternal umbrella. His current ventures include Zomato, Blinkit, District, Hyperpure, Feeding India, Temple, and LAT Aerospace, showcasing his expansion beyond foodtech into social impact and aerospace innovation. The entrepreneur has also ventured into emergency services, with Blinkit Ambulances starting in Gurugram with the goal of reaching people in 10 minutes, just like groceries.

Despite his tech background, Goyal is a poetry lover and bibliophile who published a book about ideal workplace culture called “Culture”. His current net worth stands at approximately $1.5 billion, making him one of India’s wealthiest startup founders and a testament to the potential of homegrown innovation in the ecommerce sector.

Lasting Impact on India’s Entrepreneurial Ecosystem

Deepinder Goyal’s transformation from a small-town Punjab boy to a billionaire entrepreneur represents the democratization of opportunity in India’s digital economy. His leadership in foodtech, quick commerce, and last-mile delivery has created thousands of jobs while fundamentally changing how urban India consumes food and groceries. As a startup founder who successfully navigated multiple business cycles, raised capital across various market conditions, and achieved sustained profitability, Goyal has established a blueprint for building enduring technology businesses in emerging markets.