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Aadit Palicha, founder of Zepto, refuted claims that quick commerce threatens kiranas, asserting it will create more jobs than the Indian Railways. He emphasized that Zepto complies with all regulations and plans to list on Indian stock exchanges next fiscal year, primarily attracting domestic investors.
Zepto has surpassed Swiggy Instamart to become the second-largest player in the quick commerce sector, according to a report by Motilal Oswal. Blinkit remains the market leader with a 46% share, while Zepto holds 29% and Swiggy Instamart accounts for 25%. Raamdeo Agrawal, chairman of Motilal Oswal, is an investor in both Zepto and Swiggy.
Commerce and Industry Minister Piyush Goyal emphasized the need for e-commerce companies to adhere to foreign direct investment (FDI) laws, urging compliance in both letter and spirit. His remarks, made during an event in Mumbai, addressed concerns over the impact of quick commerce platforms on traditional kirana stores, following accusations from the Confederation of All India Traders against companies like Blinkit, Instamart, and Zepto.
Kaivalya Vohra, co-founder of Zepto, launched the quick commerce platform during the COVID pandemic in 2021 alongside Aadit Palicha. The Mumbai-based company is aggressively expanding its market share in grocery delivery, burning Rs 250 crore monthly through talent poaching, digital marketing, and customer acquisition strategies.
Zepto's cash burn has surged to over Rs 250 crore ($30 million) per month, up from Rs 35-40 crore in May, driven by increased competition in the quick commerce sector. This spike follows the company's recent Rs 2,500 crore ($300 million) funding round from high net worth individuals, aimed at strengthening its market position.
Aadit Palicha and Kaivalya Vohra, founders of Zepto, dropped out of Stanford University to pursue their entrepreneurial dreams during the Covid-19 pandemic. Initially, they spent a year developing their ideas before launching Zepto, which has since become a $5 billion startup revolutionizing India's hyperlocal delivery market.
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