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Zepto
| File:Logo of Zepto.png | |
| Industry | Quick commerce |
|---|---|
| Founded | 2021 |
| Founder(s)s | Aadit Palicha Kaivalya Vohra |
| Headquarters | Mumbai, India |
Area served | 8 cities: Delhi, Gurgaon, Bangalore, Mumbai, Hyderabad, Kolkata, Pune, Chennai |
Key people | Aadit Palicha (CEO)[1] |
| Services | Online grocer |
| Revenue |  ₹140.7 crore (US$16 million) (FY22)[2] |
 ₹−390.3 crore (US$−45 million) (FY22)[2] | |
Number of employees | 3,500 (2022) |
| Website | www |
Zepto is an e-commerce service, that delivers instant grocery.[3] The startup mainly targeted Quick commerce space.[4] In August 2023, Zepto became India's 84th unicorn.[5][6][7]
History[edit]
Zepto was founded in July 2021 by a duo of Stanford University dropouts,[8] Aadit Palicha and Kaivalya Vohra, who aged 20 at that time.[1][9][10] It was built with backing from startup incubator Y Combinator.[11][12] Nexus Venture Partners and Lachy Groom also initially supported the startup.
Funding[edit]
In August 2023, StepStone Group, Goodwater Capital and others invested a combined US$ 200 million in Zepto.[13]
Operations[edit]
Zepto has more than 220 cloud stores or neighborhood warehouses, across cities including Mumbai, Bangalore and New Delhi. The stores stock over 7,000 products. Zepto faces competition from Alphabet Inc.-backed Dunzo, Zomato's Blinkit and Naspers-backed Swiggy Instamart.
In April 2023, the startup started testing a ‘Zepto Cafe format’ as a pilot project in Mumbai where it is delivering ready-to-drink coffee, tea, and packaged snacks.[14]
See also[edit]
References[edit]
- ↑ 1.0 1.1 "Meet Aadit Palicha, The 21-Year-Old Zepto CEO Who Made A Rs 7,300 Cr Company In A Year".
- ↑ 2.0 2.1 Sil, Debarghya (18 November 2022). "Zepto Incurs INR 390 Cr Loss In First Year Of Operations; FY22 Sales At INR 141 Cr". Inc42 Media. Retrieved 27 August 2023.
- ↑ "How Two 20-Year-Olds Beat Grim Market To Mint India's Newest Unicorn - Zepto".
- ↑ "Quick commerce startup Zepto 1st unicorn in 2023".
- ↑ "What Funding Winter? Zepto raises $200 mn to become the first unicorn of 2023".
- ↑ "Only 3 unicorns added in 2023; capital woes hurting startups".
- ↑ "Unicorn start-ups decline: Hurun Index".
- ↑ "Zepto is first Indian unicorn of 2023, raises $200 million at $1.4 billion valuation".
- ↑ "Meet Zepto co-founder Kaivalya Vohra — a Stanford dropout who's built a business empire of Rs 7428 thousand Cr".
- ↑ "Meet man who built Rs 7300 crore company in 1 year, net worth is Rs 1000 crore at age 19".
- ↑ "Y Combinator-backed Zepto launches 10-minute food delivery service 'Cafe' in Mumbai".
- ↑ "Y COMBINATOR TO LAYOFF 20% STAFF, DECREASE LATE-STAGE INVESTING".
- ↑ "Zepto ends India's almost-year-long Unicorn drought".
- ↑ "'Following Cafe format': Zepto says not doing 10-minute food delivery in Mumbai".