New Delhi

This year's Hurun India Rich List has a notable addition - Twenty-year-old Kaivalya Vohra, the youngest self-made entrepreneur. His venture, Zepto, co-founded with Aadit Palicha, holds the distinguished title of India's first unicorn of 2023.

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Notably, Zepto's meteoric rise is further underscored by its recognition in LinkedIn's 2023 Top 20 Indian Startups List, where it has claimed the top spot, cementing its status as a burgeoning leader in the Indian startup ecosystem.

The Founders

At the heart of Zepto's remarkable journey are the founders, Aadit Palicha and Kaivalya Vohra. Hailing from Mumbai, Aadit Palicha took a divergent path from his Stanford University studies, opting to co-found Zepto. His entrepreneurial acumen is not a recent development; Aadit's journey began at the age of 17 when he founded Gopool. He has also made waves in the realm of artificial intelligence, notably through his project Pryvasee.

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Similarly, Kaivalya Vohra, Zepto's Chief Technology Officer, also forsook his studies at Stanford University to embark on this entrepreneurial journey. Their collective efforts propelled Zepto onto the esteemed Hurun India's Future Unicorn Index in 2022.

Zepto's journey

Zepto's journey is a compelling narrative of resilience and adaptability. It started its odyssey as Kiranakart, collaborating with local grocery stores to address the soaring demand for swift delivery of essential items, a need magnified by the onset of the COVID-19 pandemic. In November 2021, the company secured $60 million in funding, and the promise of delivering groceries in just 10 minutes elevated its valuation to $570 million. May 2022 marked a watershed moment when Zepto secured $200 million in funding, catapulting its valuation to an impressive $900 million. Zepto further solidified its unicorn status by raising $200 million in a Series E round of funding, attaining a valuation of $1.4 billion. This achievement made Zepto India's first unicorn of 2023.

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Future outlook

Looking ahead, Zepto is poised for further expansion, with plans to add 40% more dark stores in the coming year while reducing the time for these stores to turn profitable. The company also harbors aspirations of achieving EBITDA positivity within the next 12 to 15 months while sustaining its impressive growth trajectory.

However, as with any entrepreneurial journey, challenges lie on the horizon. These include the need for continuous funding to fuel their ambitious growth plans and the perpetual quest to maintain a competitive edge in the rapidly evolving quick commerce market.

Zepto's journey is a testament to the agility and innovation embedded in the core of India's startup landscape. Aadit Palicha and Kaivalya Vohra's foray into the grocery delivery market serves as an inspiration, illustrating the boundless potential of founders who navigate the dynamic world of startups.

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