Zepto, the 10-minute grocery delivery service, is set to outpace D-Mart in sales within the next 18 to 24 months, according to co-founder and CEO Aadit Palicha. Speaking at the JIIF Foundation Day event in Delhi, Palicha expressed confidence in Zepto’s growth trajectory, highlighting their current scale and future potential.
Palicha outlined ambitious plans to expand Zepto from its current ₹10,000 crore valuation to ₹2.5 lakh crore in the coming years. The company has experienced rapid growth, achieving ₹10,000 crore in less than three years, making it the fastest-growing company in Internet India’s history. For context, Flipkart reached the same milestone in four years, while Zepto accomplished it in just 2.5 years.
India’s grocery market, valued at ₹650 billion in FY23, is projected to grow to ₹8,850 billion by FY29, a 9% increase. Zepto plans to capitalize on this growth by targeting the top 40 cities in India, aiming to serve 50 to 75 million households. “Grocery is bigger than all the categories that Amazon and Flipkart service. We are building the mother of all categories,” Palicha emphasized.
Zepto has been on a fundraising spree, recently raising $200 million in a Series D funding round led by Y Combinator’s Continuity Fund, bringing its valuation to $900 million. Earlier in the year, the company raised $100 million in a Series C round and $60 million in November. To date, Zepto has secured $360 million in funding.
Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto operates a network of cloud stores to deliver groceries in under 10 minutes. The company is competing with major players like Blinkit, Swiggy Instamart, and BigBasket (BB Now) by Tata.
Zepto’s aggressive growth strategy and innovative approach to quick commerce position it as a formidable player in the grocery delivery market, with the potential to redefine industry standards and consumer expectations.