Pune Media
Leading the news curation and publishing for the people of Pune

Zepto Founders Beccome Youngest Entrants in Hurun India Rich List; Know About Them

At 19 years of age, Zepto co-founder Kaivalya Vohra has become the youngest to feature in the Hurun list of richest Indians. Vohra is joined by his fellow co-founder, 20-year-old Aadit Palicha, in the IIFL Wealth Hurun India rich list 2022. Vohra presently sits at 1036 position with a net worth of Rs 1,000 crore. Palicha, on the other hand, is at the 950 spot with Rs 1200 crore.

The duo, dropouts of computer science courses from Stanford University, co-founded the grocery delivery app in 2021. The two childhood friends who grew up in Dubai took the entrepreneurial plunge with an aim of tapping the demand for online grocery delivery amid the COVID-19 pandemic in India.

Their venture first came to be known as KiranaKart, a platform that partnered with local grocery stores for delivery. In November 2021, the venture raised $60 million in funding with the new branding of Zepto and the promise of delivery of groceries in less than 10 minutes.

The platform gained popularity in the quick commerce segment and saw its valuation shooting up to $570 million during the second round of funding in December last year. The business raised $100 million at the valuation.

Zepto has backing from ace investors that include the likes of Glade Brook, Nexus Venture Partners, Breyer Capital, Lachy Groom, Global Founders Capital, Contrary Capital, and YC Continuity

In less than a year, Zepto’s valuation has grown up to $900 million, Banking on the rocketing valuation of the company, co-founders, Kaivalya Vohra and Aadit Palicha, have now made it to the club of richest Indians.

The duo had previously featured in Forbes magazine’s influential “30 under 30 (Asia list) in the e-commerce category.

The IIFL Wealth Hurun India Rich Lists saw several other new-age entrepreneurs making the cut. Alakh Pandey and Prateek Maheshwari, co-founders of ed-tech platform PhysicsWallah also featured in the lust of 1,103 individuals. The duo with a personal wealth of Rs 4,000 crore secured 399th rank on the list. The ed-tech platform, in June this year, conducted its first round of funding where it raised $100 million at a valuation of $1.1 billion. This also made the PhysicsWallah an entrant to the unicorn club.

Read all the Latest Business News and Breaking News here



Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.

Aggregated From –
Comments
Loading...

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More