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.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra January 21, 2024-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Pension Scheme - Safety Net
The move to introduce the UPS has evoked mixed reactions. Analysts believe its funding will have limited impact on the fiscal math
The Reit Choice?
Real Estate Investment Trusts (Reits) Are Gaining Traction As Interest Rates Stabilise. But Returns Could Be Affected By Adverse Economic Conditions And Market Volatility
CORPORATE - Calling to Account
The sudden exit of Byju's auditor BDO marks the latest in a long series of setbacks for the edtech firm
EMPLOYMENT: Skills Push
The skill development ministry plans to partner with the UGC to improve the employability of undergraduates
Building on a Vision
L&T'S CHAIRMAN EMERITUS A. M. NAIK HAS BUILT A MAMMOTH ENTERPRISE THAT IS BUILDING A NEW INDIA, FROM ITS METRO RAIL SYSTEMS TO THE RAM TEMPLE
"KYS more important than KYC"
Vijay Kedia is a renowned equity investor; the value of his listed portfolio stands at around ₹1,750 crore
ROXX STAR
THE THAR ROXX COMBINES LUXURY WITH PERFORMANCE TO MAKE A STRONG STATEMENT IN THE MID-SIZE SUV SEGMENT
HIT THE GROUND RUNNING
Smartwatches have become indispensable tools for runners, offering real-time insights into pace, distance, heart rate, and more. Here are a few you can consider
TURNING THE TABLES
INDIA'S FURNITURE MARKET IS POISED FOR A GLOBAL TAKE-OFF. ALREADY, A HOST OF GLOBAL BRANDS HAVE MADE THE COUNTRY THEIR HOME, BUT INDIAN COMPANIES ARE NOT TOO FAR BEHIND
THE EVOLUTION OF ATHERA
IDENTIFYING OPPORTUNITIES IN ADVANCE HAS STOOD THIS BENGALURU-BASED VC FUND IN GOOD STEAD. NOW, WITH A HEIGHTENED FOCUS ON TECHNOLOGY, IT WANTS TO SUSTAIN THE SUCCESS