Zepto raises $60M as early-stage round

zepto fundng

Zepto, a grocery-delivery startup, announced that it has raised $60 million in early-stage funding round, at a valuation of $225 million, to expand its 10-minute grocery delivery nationwide.

Established in June 2021 by Aadit Palicha and Kaivalya Vohra, Zepto, with its optimized network of ‘dark stores’ or micro-warehouses, claims to be constantly delivering groceries and essentials in 10 minutes via a combination of technical and operational excellence.

The round is financed by institutional investors like Glade Brook Capital, Nexus, and Y Combinator, and individual investors, including Lachy Groom, Neeraj Arora, Manik Gupta, and more.

Speaking about the platform, Kaivalya Vohra, Co-founder and CTO, Zepto, said, “Customers love a rapid delivery experience. The data speaks for itself – once we started delivering in 10 minutes, our NPS shot up and has constantly remained at around 85 with over 50 percent weekly user retention rate, which shows the incredibly strong customer love for our product.”

With a tech office in Bengaluru and operations headquarter in Mumbai, Zepto has also formed a strong team to handle its speed of growth. Its management includes senior leaders from some of the nation’s largest startups, including Flipkart, Uber, Dream11, Pharmeasy, and Pepperfry, to name a few.

Aadit Palicha, Founder and CEO, Zepto, said, “Q-Commerce in India is an opportunity of epic proportions and strong unit economics. We’ve been ignoring the noise and executing heads-down for a long time to perfect this model, and our efforts are paying off. Today, we’re consistently growing 200 percent every single month, with an unstoppable team, robust product infrastructure, and deep access to institutional capital.”

“Quick e-commerce is poised to transform shops around the world. Zepto has emerged as a leader in India, with exponential growth and best-in-class execution. We look forward to partnering as Zepto brings a magical consumer experience across India,” said Paul Hudson, CIO at Glade Brook Capital.

Suvir Sujan, Managing Director at Nexus Venture Partners, added, “Zepto is disrupting e-commerce in India in a way we’ve never seen before, and we’re super impressed by their innovative mindset, technology-first thinking, and lightning-fast execution.”

Zepto is expanding across Mumbai, Bengaluru, and Delhi-NCR, and will be launching in key areas across Hyderabad, Chennai, Pune, and Kolkata in the next 30 days.

Zepto seems to have established a strong footprint in the market with its innovative platform. I’m sure the company will continue to reach new heights of success in the time to come. My best wishes to the team of Zepto.

Shishir Gupta, Founder and CEO, StartupLanes

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