Zepto
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]
| 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 |
HistoryEdit
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.
FundingEdit
In August 2023, StepStone Group, Goodwater Capital and others invested a combined US$ 200 million in Zepto.[13]
OperationsEdit
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 alsoEdit
ReferencesEdit
- ↑ 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".