Investment firm Elcid funds Zepto, a business led by Aadit Palicha, to the tune of Rs 7.5 crore
Zepto, the quick commerce company that delivers goods in just 10 minutes, is in advanced talks to secure a significant funding round of $500 million. If successful, this round could value the company at $7 billion.
Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto has been making waves in the crowded and increasingly lucrative quick commerce market. The company recently shifted its domicile from Singapore to India, signaling its commitment to the Indian market.
Elcid Investment is set to acquire 22,55,639 equity shares in Zepto at Rs 33.23 per share, representing a 0.039% stake in the company. This investment was disclosed in a stock exchange filing.
Zepto's revenue figures for FY25 were reported to be Rs 11,110 crore, a significant increase from its FY24 turnover of Rs 4,454.5 crore and nearly five times the turnover reported in FY23 (Rs 2,024.4 crore). The company started FY26 with a revenue of Rs 2,400 crore, a figure that was reported by Reliance Retail for its flagship delivery service platform in the first quarter of FY26.
Meanwhile, Zepto's competitor, Blinkit, owned by Eternal, reported around Rs 2,400 crore in revenue for the first quarter of FY26. This is more than double the turnover reported in FY24 and nearly five times the turnover reported in FY23. Notably, Blinkit surpassed Eternal's flagship food delivery vertical in revenue for the first time.
However, no specific revenue figures for Zepto or Swiggy's Instamart division were provided for Q1 FY26. Swiggy's Instamart division has not disclosed its Q1 FY26 numbers yet.
Zepto's initial public offering (IPO) has been deferred from FY25 to FY26. The company's broader objective remains pursuing a public listing.
The quick commerce market is becoming increasingly competitive, with companies like Zepto, Blinkit, and Swiggy's Instamart vying for a share of the market. The potential success of Zepto's funding round could signal a promising future for the company and the quick commerce market as a whole.
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