Eternal transforms its internal AI platform Nugget into a separate company, targeting rapid growth in enterprise AI markets across financial services, manufacturing, and healthcare, signalling a shift towards monetising operational technology.
Eternal has turned a small internal artificial intelligence project into a standalone enterprise software business, with its Nugget platform now being spun out under a separate company, Carthero Technologies Private Limited. The move reflects a broader ambition inside the Zomato and Blinkit parent to monetise technology first built to solve its own operating problems, rather than keeping it confined to consumer services. According to Eternal’s shareholder letter, Nugget generated ₹7.2 crore in FY26 revenue in its first year and is already cash-flow positive, even as the wider group remains far larger.
What began as a tool for handling customer support and sales work within Zomato has become a product line selling conversational AI, voice agents, workflow automation and agentic AI systems to outside enterprises. Dushyant Garg, who leads Nugget, said the business moved beyond internal use once the systems were producing measurable outcomes. Eternal then separated the unit through a slump sale valued at ₹35 crore, a structural change that suggests the company sees real business potential rather than a side project.
Nugget’s customer base now stretches across private banks, insurers, retailers, direct-to-consumer brands, manufacturers and healthcare platforms. Garg said financial services is emerging as one of the fastest-growing areas, with AI agents being used to support field sales staff, retrieve policy information and cut down repetitive administrative work. The platform is also being applied in manufacturing, where it can flag technical anomalies, and in healthcare and e-pharmacy, where it helps recover abandoned purchases and improve conversion rates. Garg said the aim is to augment employees, not replace them.
The company’s trajectory fits a wider shift among consumer internet groups that are packaging operational know-how into enterprise products. Paytm has been embedding AI across merchant services and financial products, while Razorpay has launched tools such as Agentic Commerce and Agent Studio to help merchants automate workflows. Industry examples such as Genesys, which reported nearly $2.6 billion in annual recurring revenue for its cloud AI platform in fiscal 2026, and voice-AI specialist Retell AI, which said it reached a $60 million annualised revenue run-rate in April 2026, point to growing appetite for enterprise AI tools that promise efficiency gains rather than novelty.
For Eternal, the challenge is now one of scale and differentiation. Nugget already handles more than 15 million support interactions a month across Eternal’s businesses, giving it a large testing ground and a degree of credibility with potential buyers. Garg said the firm has also worked with Swiggy, Eternal’s biggest food-delivery rival, underscoring the possibility that the platform can stand on its own. The question is whether that internal pedigree can translate into a durable enterprise software franchise in a crowded market.
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