IN MID-2020, India was battling the Covid-19 pandemic, with the country being under a stringent lockdown. The pandemic had brought India to a standstill, hitting the supply chain. For citizens stuck in homes, securing their daily essentials—from wheat flour to detergents—without venturing out was the biggest challenge. Aadit Palicha and Kaivalya Vohra, two teenagers stuck in a small apartment in Sher-e-Punjab colony in Mumbai’s Andheri East, decided to do something about it.
“Most online delivery apps were taking seven to 10 days to deliver essential items, while mom-and-pop stores were shut. So, we decided to cater to the many elderly people that resided in the locality,” says Palicha. The duo, childhood friends who dropped out of Stanford University to pursue their entrepreneurship dreams, put in ₹3-4 lakh to set up KiranaKart, tying up with grocery stores to cater to their locality. As the service gained traction and the number of customers swelled to 200 by November, they raised some $125,000 from Y Combinator as a part of its early stage programme. Quick commerce app Zepto was launched in April 2021.
Three years since its humble beginnings, Zepto has grown exponentially and has turned into a unicorn—it is one of the fastest Indian ventures to cross this milestone. As per its latest round of funding in November 2023, when Zepto raised $235.4 million, the company was valued at $1.435 billion.
Denne historien er fra January 21, 2024-utgaven av Business Today India.
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Denne historien er fra January 21, 2024-utgaven av Business Today India.
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"OFFER MORE SOPS FOR THE NEW TAX REGIME”
Dinesh Kanabar, CEO of Dhruva Advisors, on the tax-related measures expected in the Budget, reforms, and more
IN SEARCH OF A BOOSTER SHOT
TO BOOST GROWTH, THE GOVERNMENT MAY FOCUS ON INCREASING CAPEX AND BOOSTING DOMESTIC CONSUMPTION, PARTICULARLY TARGETING THE MIDDLE CLASS. THIS COULD PROVIDE A FILLIP TO STOCKS IN THOSE SECTORS
HEALTH BOOST
THE HEALTHCARE SECTOR IS EXPECTED TO RECEIVE A SHOT IN THE ARM IN BUDGET 2025-26, WITH A FOCUS ON PRIMARY HEALTHCARE, DIGITAL HEALTH, AND BOOSTING PHARMACEUTICAL MANUFACTURING AND RESEARCH. BUT CHALLENGES LIKE THE SHORTAGE OF HEALTHCARE PROFESSIONALS REMAIN
"Indian aviation to see double-digit growth for the next 30 years"
Vinay Dube, Founder & CEO of Akasa Air, on the country's aviation sector, why the airline was set up, and more
TIME TO BE SMART
This year could be a good time to take home some profits, reduce risk, and shift to large-cap investments
CLOTHES MAKETH A MAN
THE MEN’S LUXURY MARKET IN INDIA, ONCE A NICHE SEGMENT, IS WITNESSING AN EXTRAORDINARY RISE AND IS THRIVING, THANKS TO SOCIAL MEDIA AND RISING DISPOSABLE INCOMES
Front-running Redux
Ketan Parekh has again been accused by Sebi. This time the allegations are of front-running, an unethical practice in financial markets
Triumph of Engineering
The Udhampur-Srinagar-Baramulla Railway Line in J&K is set to expedite trade and tourism
MAKING A MARK
IN A LANDSCAPE DOMINATED BY THE BIG FOUR ACCOUNTING FIRMS, DHRUVA ADVISORS HAS STRUCK IT BIG ON THE BACK OF ITS TAX AND REGULATORY ADVISORY SERVICES, ASSISTING SOME OF THE MARQUEE DEALS OF INDIA INC.
TIME FOR A TAX BREAK?
INDIVIDUAL TAXPAYERS LOOK FORWARD TO THE BUDGET EVERY YEAR HOPING FOR A BIG TAX BREAK. IT HAS ELUDED THEM FOR YEARS, BUT WITH HIGH INFLATION, MODERATING URBAN CONSUMPTION, AND ROBUST TAX COLLECTIONS, WILL THE MIDDLE CLASS GET A TAX BREAK IN FEBRUARY?
