Zepto, a Mumbai-based grocery delivery firm, announced on Monday that it has raised $60 million in an early-stage fundraising round, valued at $225 million, to expand its 10-minute grocery delivery nationwide.
Zepto, founded in June 2021 by two 19-year-olds Aadit Palicha and Kaivalya Vohra, claims to deliver food and supplies in 10 minutes with its optimised network of ‘dark stores’ or micro-warehouses.
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.”
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.”