The collaboration aims to discover and mentor startups through a focused six-month programme. It will support startups developing technologies in hardware, IoT, packaging and sustainable manufacturing, enabling them to progress from prototype to market-ready solutions using Zepto’s delivery and digital infrastructure. The partnership will provide support through mentorship and capacity building via expert-led workshops and Startup India assistance, with a focus on women-led and Tier II/III startups. In addition, Zepto will integrate upwards of 100 Indian startups into its supply chain, offering them a platform to showcase products, gain market access and expand their presence.

Speaking on the occasion, Joint Secretary, DPIIT, Sanjiv said that support from unicorns is one of the most impactful ways to uplift startups, enabling them to learn from the journey of successful ventures. He added that it is not just an opportunity but also a responsibility for unicorns to contribute to the ecosystem. Highlighting the importance of growth, he stated that market access remains a critical enabler for the success of startups.

On the occasion, Kaivalya Vohra, Co-founder, Zepto, stated, “At Zepto, we believe that giving back to the ecosystem is not just a responsibility—it’s a privilege. Through Zepto Nova, we’re proud to support India-first innovation by empowering startups that are building the future of manufacturing. This partnership with DPIIT is a testament to what’s possible when public and private sectors come together to unlock scale, speed, and sustainability for entrepreneurs to build a Viksit Bharat.”

The MoU was signed by Director, DPIIT, Dr. Sumeet Jarangal, and Co-founder, Zepto, Kaivalya Vohra. It is part of DPIIT’s efforts to foster partnerships that enable rapid innovation, inclusive economic growth and a self-reliant India.

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Radhakishan Damani, promoter of Avenue Supermarts Ltd. (DMart), alongside Deepinder Goyal, founder of Zomato, and Sriharsha Majety and Nandan Reddy, co-founders of Swiggy, have secured the top three positions in the second edition of the IDFC First Private Banking and Hurun India’s ‘India’s Top 200 Self-Made Entrepreneurs of the Millennia 2024’, unveiled on Wednesday.The list also highlights Kaivalya Vohra (21) and Aadit Palicha (22), co-founders of Zepto, as the youngest self-made entrepreneurs, with their company’s valuation surging over twofold to Rs. 41,800 crore, earning them the 14th spot.

While traditional retail leader Damani leads the list, the rapid ascent of startup founders is notable. Zomato’s valuation soared to Rs. 2.51 lakh crore, reflecting a 190% increase year-on-year, while Swiggy achieved a valuation of Rs. 1.01 lakh crore. Zepto emerged as the biggest gainer, with its valuation skyrocketing by 259% to Rs. 41,800 crore.

Anas Rahman Junaid, MD and Chief Researcher at Hurun India, remarked, “This list underscores the remarkable contribution of self-made entrepreneurs to India’s economy, with a combined business value of $431 billion. These businesses, founded within the past 24 years, collectively represent a quarter of the value of India’s 200 most valuable family businesses, which have an average age of 69 years.”

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Launch of Brand Film: ‘Mujhe Kya Milega’

Zepto kicked off the celebrations with the launch of its brand film titled ‘Mujhe Kya Milega’ (What’s in it for me), a phrase often asked by Indians. The film, a fun and relatable concept, revolves around a man who repeatedly asks this question in various situations. The twist comes when he asks a Zepto delivery partner the same question and is delighted to discover that Zepto is offering a free return gift to its customers on its birthday. Conceptualized in-house, the campaign captures Zepto’s spirit of giving back to its customers.

Celebrating with First Customers and Longest Serving Delivery Partners

As part of the anniversary celebrations, Zepto co-founders Aadit Palicha (CEO) and Kaivalya Vohra hosted a birthday bash at the company’s Mumbai and Bangalore offices. They invited the first customers and longest-serving delivery partners for a special meet and greet, recognizing the relationships that have grown with Zepto over the past three years. This event underscored the significance of these enduring relationships and the contributions of these early supporters and dedicated partners in Zepto’s journey.

Customer Giveaways and Social Media Buzz

As part of the ‘Mujhe Kya Milega’ celebration, Zepto delivered over 8 lakh return gifts to customers who placed orders on July 13-14. This gesture was met with enthusiasm and joy from customers. To add to the festivities, Third Wave Coffee joined the celebration by offering a special Zepto birthday deal for patrons. Additionally, over 100+ brands, including Coca-Cola India, Kit Kat India, Nivea India, amongst many others joined in the celebration by taking to their social media platforms to wish Zepto a happy birthday, creating a buzz and showcasing their support.

Engaging Customers with Music and Contests

Zepto also created a special ‘party playlist’ on Spotify, which garnered over 2,500 saves on the music app and Zepto’s in-app story asking patrons to guess ‘what’s in the box?’ received over 40,000 responses. To further engage customers, Ariel launched a contest on the Zepto app offering a chance to win an iPhone 15. The lucky winners of the contest were Akash Sethiya, Mumbai; Jisha Pradeesh Nair, Mumbai and Rohit Kumar, Bangalore.

Leadership and Employee Participation

In a heartfelt gesture, over 200 Zepto employees, including the leadership team, hit the roads to deliver orders themselves on the company’s birthday. This initiative was a unique way for the Zepto team to connect with customers directly and thank them for their continued support.

Zepto’s third birthday celebrations were not just about marking a milestone but about expressing gratitude to everyone who has been part of its journey. From innovative giveaways to personal interactions, Zepto continues to redefine customer experience and strengthen its community.

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Zepto’s business performance has shown remarkable growth, with its GMV (Gross Merchandise Value) surpassing $1 billion annually. As of May 2024, approximately 75% of Zepto’s stores are fully EBITDA positive, achieving profitability in just six months, compared to the previous 23 months.

Commenting on Zepto’s growth, Aadit Palicha, Co-founder and CEO, Zepto, said, “The growing  profitability of our stores has enabled rapid expansion while achieving near EBITDA positivity at the company level. By reinvesting the capital generated from mature stores, we plan to scale from 350 to 700 stores. If we can maintain customer satisfaction and operational discipline, we aim to go public soon.”

Kaivalya Vohra, Co-founder and CTO, Zepto, added, “The next phase of Zepto’s journey includes major projects that will significantly enhance customer experience, such as launching new categories and expanding initiatives like Zepto Pass. To support this growth, we plan to hire top talent across engineering, product, growth, finance, operations, and category management.’’

This fundraising also marks the formal launch of Avra Capital, a growth equity fund started by Anu Hariharan, the former MD of Y Combinator Continuity.

Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto has quickly risen to prominence as one of India’s leading quick commerce platforms. Headquartered in Mumbai, Zepto delivers over 10,000 products across multiple categories in just 10 minutes through its extensive network of delivery hubs nationwide.

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