Zepto, snagging $1 billion in 90 days, projects 150% annual growth
Zepto co-founder Aadit Palicha told a group of analysts and investors on Tuesday that the three-year-old Indian delivery startup anticipates growth of Zepto has revealed to a group of investors that it anticipates a growth of 150% in the next 12 months.
Zepto co-founder Aadit Palicha told a group of analysts and investors on Tuesday that the three-year-old Indian delivery startup anticipates growth of 150% in the next 12 months, a remarkable figure suggesting the fast-growing quick commerce market in India is showing no signs of slowing down.
Palicha shared these insights during a call organized by an investment bank. Representatives from several prominent investment firms, including Abu Dhabi Investment Authority, Temasek, GIC, and Invesco, were among the attendees, according to materials reviewed by TechCrunch.
Palicha shared these insights during a call organized by an investment bank. Representatives from several prominent investment firms, including Abu Dhabi Investment Authority, Temasek, GIC, and Invesco, were among the attendees, according to materials reviewed by TechCrunch.
Quick commerce is rapidly gaining traction in India’s $1.1 trillion unorganized retail market. Zepto, BlinkIt, Swiggy, and Tata-owned BigBasket’s BB Now are collectively on track to clock annual sales exceeding $6 billion, compared to overall e-commerce sales of approximately $50 billion. Online grocer BigBasket, which delivers grocery to customers within a few hours, said Tuesday it is making a complete pivot to quick commerce.
The Indian e-commerce market, dominated by Flipkart and Amazon India, is growing at about 11% to 12% annually, according to industry figures. In contrast, quick commerce has experienced growth of more than 100% in each of the last three years.
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