Online Groceries

Zepto, a Quick commerce grocery delivery platform has raised $60 million led by US investment fund Glade Brook Capital, at a valuation of $225 million.

The funding round saw the participation from Nexus Venture Partners, Y Combinator, along with individual investors including the former head of US-based fintech company Stripe Lachy Groom; Neeraj Arora, an ex-chief business officer of WhatsApp; and Microsoft executive Manik Gupta.

Founded in June 2021, by 19-year-old Aadit Palicha and Kaivalya Vohra who dropped out of their computer science engineering program to build Zepto. The platform is known for its optimised network of micro-warehouses that offers quick grocery delivery to customers in 10 minutes through a combination of technical and operational excellence.

The juvenile start-up has built a strong team, with its tech office in Bengaluru and operations headquarter in Mumbai, working to manage its growth. Its management has senior leaders from some of India’s best start-ups— Flipkart, Uber, Dream11, Pharmeasy, and Pepperfry among others.

Zepto plans to expand its services across Mumbai, Bengaluru and Delhi-NCR. Furthermore, it will also be launching in areas across Hyderabad, Chennai, Pune, and Kolkata in the next 30 days.

“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 per cent every single month, with an unstoppable team, robust product infrastructure, and deep access to institutional capital.”

Paul Hudson, CIO at Glade Brook Capital, said, “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.”

Suvir Sujan, Managing Director at Nexus Venture Partners, said, “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.”

Online Team AsiaTech
Online Team Asia Tech is a team of Journalists, Entrepreneurs, and Enthusiast Writers who contribute to the platform by bringing everyday stories, updates, opinions and insights from the Asian Startup Ecosystem.

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