Zepto Co-founder Aadit Palicha Sets $50 Billion Valuation Goal

Zepto, the online grocery delivery app, is setting its sights on a $50 billion valuation after raising $665 million from investors, including private equity firm Avenir, venture capital firm Lightspeed, and Avra. Co-founder Aadit Palicha attributes the company’s current $3.6 billion valuation to its foundation in India and expresses confidence in achieving the new target.

Following the recent investment round, which secured Zepto’s $3.6 billion valuation, Palicha shared reflections on their journey via X (formerly Twitter). He highlighted the remarkable growth of Zepto, noting, "The story of two kids dropping out of college and starting a company that is worth ?30,000 crore in just three years is only possible in one country in 2024: India."

Zepto, founded by Aadit Palicha and Kaivalya Vohra, began as an ambitious project by two 19-year-old students who left Stanford's computer science program during the pandemic. With a background rooted in business and a deep connection to Mumbai through frequent visits to their grandparents, the Dubai-raised founders aimed to create a significant impact.

The startup is on a rapid expansion path, planning to double its store count from 350 to 700. Palicha emphasized their commitment to India, stating, "We are ready to dedicate ourselves to building Zepto into a world-class $50B Indian company that employs lakhs - as a way to give back to this country that has given us so much."

Zepto’s vision of becoming a $50 billion enterprise represents not only a business goal but also a pledge to contribute significantly to India’s economic landscape.

Src: HT

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