Zepto, overseen by Aadit Palicha, secures funding of Rs 7.5 crore from Elcid Investment
Zepto Secures Investment from Elcid Investment, Eyes Stock Market Listing
Zepto, a leading player in the quick commerce market, has secured an investment of Rs 7.5 crore from NBFC firm Elcid Investment. This investment marks a significant step for Zepto, which was founded by Aadit Palicha and Kaivalya Vohra in 2021, and is now headquartered in Mumbai.
The investment is part of a funding round that values Zepto at an estimated $7 billion, making it one of the most valuable startups in India's burgeoning quick commerce sector. This investment represents a 0.039% stake in Zepto.
Despite the investment, Zepto has not revealed any information about a potential change in its objective beyond pursuing a stock market listing. The company's initial public offering (IPO), which was initially scheduled for FY25, has been deferred to FY26.
Zepto's quick commerce model, which delivers products in just 10 minutes, has seen exponential growth in its topline over the past three fiscal years. In FY25, Zepto reported a turnover of Rs 11,110 crore, more than double the turnover reported in FY24 (Rs 4,454.5 crore) and more than five times the turnover reported in FY23 (Rs 2,024.4 crore).
The quick commerce market is becoming increasingly lucrative, with Zepto and its competitors, such as Blinkit, vying for a share of the market. In Q1 FY26, Blinkit, which is owned by Eternal, surpassed Eternal's flagship food delivery vertical in revenue for the first time, reporting around Rs 2,400 crore.
However, no specific revenue or growth figures for Zepto are provided for the first quarter of FY26. Swiggy's Instamart division has also not disclosed its Q1 FY26 numbers yet.
Notably, Zepto has shifted its domicile from Singapore to India. This move comes as the Indian government has been encouraging foreign-owned startups to set up shop in India and contribute to the country's digital economy.
As Zepto continues to grow and compete in the crowded quick commerce market, it will be interesting to see how the company utilizes its new investment and prepares for its stock market listing in FY26.
