Will make Zepto a $50 billion Indian company: Co-founder Aadit Palicha - Hindustan Times
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Will make Zepto a $50 billion Indian company: Co-founder Aadit Palicha

By | Edited by Abhyjith K. Ashokan
Jun 24, 2024 04:21 PM IST

Zepto aims a $50 billion valuation after raising $665 million from new investors including private equity firm Avenir, venture capital firm Lightspeed, & Avra.

Zepto’s co-founder Aadit Palicha said the company could achieve a $3.6 billion valuation only because it is based in India, and that it aims to become a $50 billion company.

Zepto's co-founders Kaivalya Vohra and Aadit Palicha
Zepto's co-founders Kaivalya Vohra and Aadit Palicha

This comes after the company had announced that it would double the number of stores it has from 350 to 700.

After the online grocery delivery app raised $665 million with a $3.6 billion valuation, co-founder Aadit Palicha took to X (Formerly Twitter) to reflect on their three year journey of building Zepto.

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"Reflecting on the past three years of building Zepto: the story of two kids dropping out of college and starting a company that is worth 30,000 crore in just 3 years is only possible in one country in 2024: India," he wrote.

Who are the founders?

Aadit Palicha and Kaivalya Vohra were 19-year-old college students when they founded Zepto, after dropping out of a Stanford computer science course in the middle of the pandemic.

They grew up in Dubai and used to visit Mumbai at least twice a year to see their grandparents, according to multiple reports. Coming from families having a background in business, they decided to start a venture early on.

"We are ready to dedicate ourselves to building Zepto into a world-class $50B Indian company that employs lakhs - as a way to give back to this country that has given us so much," he wrote. This is the newest ambition for the startup.

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The fundraise


Zepto raised $665 million from new investors including private equity firm Avenir, venture capital firm Lightspeed, and Avra, a new fund started by former Y Combinator Continuity head Anu Hariharan, Forbes wrote.

Existing investors including Glade Brook Capital Partners, Nexus, and StepStone Group also contributed in the round, the Indian unicorn said in the statement. The round comes just nine months after the company raised $235 million in December at a $1.4 billion valuation.

The future plans

“We plan to continue operating with fiscal discipline as we scale from 350 stores to 700 stores by reinvesting capital generated from mature stores back into the business,” Palicha said in a statement. “This dynamic of stores turning profitable faster and faster has enabled Zepto to grow rapidly.”

Also Read | Vir Das sends stern message to Zepto to ‘stop’ sending him notifications, company responds: ‘No more flirting’

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