This Zepto company profile covers the company's valuation, revenue, funding rounds, investors and history. Zepto works in consumer internet, with a focus on quick commerce (10-minute delivery). It was founded in 2021 and is headquartered in Mumbai, Maharashtra, India. Its latest valuation on record is US$7 billion (October 2025). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
₹11,110 crore (about US$1.3 billion), up about 149% from ₹4,454 crore — Annual revenue, FY2025 (from company filings, as reported), as of FY2025. Source: Business Standard.
| Metric | Value | As of | Source |
|---|---|---|---|
| Net loss (prior year) | ₹1,248.64 crore in FY2024 | FY2024 | Entrackr |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Oct 2025 | Equity round (primary and secondary) | About US$450M | US$7B | CalPERS (lead) | Business Standard |
| Late 2024 | Equity round | See source | US$5B | See source | Inc42 |
Zepto timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2021 — Zepto is founded in Mumbai by Aadit Palicha (CEO) and Kaivalya Vohra.
- Late 2024 — Equity round: See source, valuing the company at US$5B.
- Oct 2025 — Equity round (primary and secondary): About US$450M, valuing the company at US$7B. Investors: CalPERS (lead).
- FY2024 — Net loss (prior year): ₹1,248.64 crore in FY2024.
Investors
Overview
Zepto is an Indian "quick commerce" company that delivers groceries and everyday essentials in around 10 minutes in major cities. It does this through a network of small "dark stores," warehouses located close to customers that are closed to walk-in shoppers and optimised for picking orders fast. Customers order through the app, and delivery riders collect and deliver the order within minutes.
Aadit Palicha, the CEO, and Kaivalya Vohra founded Zepto in Mumbai in 2021, when they were both still very young; they had left Stanford University to start the company. Zepto has grown extraordinarily fast and become one of the leading players in one of the most competitive consumer markets in India.
How quick commerce works
Ten-minute delivery depends on density. Each dark store serves a small area, typically within a couple of kilometres, and stocks a few thousand of the most frequently ordered products. When orders are frequent enough, stores and riders stay busy, and the cost per order falls. Revenue comes from margins on products sold, delivery and handling fees, and increasingly from advertising, as brands pay to be featured in the app. Profitability depends on order volumes, average order size and keeping store and delivery costs under control.
Revenue and losses
Zepto's financial filings show very fast growth:
- FY2025 revenue: ₹11,110 crore, about US$1.3 billion, up roughly 149% from ₹4,454 crore in FY2024.
- Losses: Zepto remains unprofitable. Its FY2024 net loss was ₹1,248.64 crore. The FY2025 loss figure wasn't available in the sources we used.
Reports indicate the company is pushing towards EBITDA break-even. Quick commerce requires heavy investment in stores, technology and customer acquisition before each new area becomes profitable.
Funding history
Zepto raised money rapidly as it expanded:
- Late 2024: a round at about a US$5 billion valuation, according to reports.
- October 2025: about US$450 million at a US$7 billion valuation, led by CalPERS, the large California public pension fund. The round combined primary and secondary capital, with primary money making up a large part, and reportedly gave Zepto a war chest of about US$1 billion.
A US public pension fund leading a round in an Indian consumer startup is unusual, and reflects how institutional investors have become more willing to back late-stage private companies in fast-growing markets directly.
Competitive landscape
Indian quick commerce is fiercely competitive. Zepto competes with the quick commerce businesses of large food delivery companies, e-commerce giants launching their own fast-delivery services, and traditional retailers and neighbourhood stores. Competition drives heavy spending on discounts, marketing and new stores. Advantages come from store density, product selection, delivery reliability and the efficiency of operations. Regulators and traditional retailers have also raised questions about the impact of quick commerce on small shops, which could influence future rules.
The IPO question
Zepto has been preparing for an Indian IPO, with timing reported to have shifted as it works towards better profitability. A successful listing would make it one of the youngest large companies to go public in India.
What to watch next
Watch progress towards EBITDA break-even, average order value and contribution margins per order, expansion into new cities, advertising revenue, competition from larger rivals, and IPO timing.
Key facts at a glance
Zepto is a Mumbai quick commerce company founded in 2021 by Aadit Palicha and Kaivalya Vohra, delivering groceries in about 10 minutes through dark stores. It reported FY2025 revenue of ₹11,110 crore (about US$1.3 billion), up about 149%, and remains loss-making. It was valued at about US$5 billion in late 2024 and raised about US$450 million at a US$7 billion valuation in October 2025, led by CalPERS.
Unit economics: the numbers that matter
For any quick commerce business, a few measures decide whether growth leads to profit: average order value (larger baskets spread delivery costs further), orders per store per day (busier stores are more efficient), contribution margin per order (revenue minus product, delivery and store costs), and customer retention. Advertising income from brands can make a meaningful difference, because it adds revenue without adding delivery cost. When reading Zepto's future results, these are the figures to look for alongside headline revenue growth.
Why India suits quick commerce
Quick commerce has struggled in many Western markets, where several 10-minute delivery startups shrank or shut down after 2021. India has proved different, for a few reasons. Its major cities are extremely dense, so a single dark store can serve a large number of households. Labour costs for riders and store staff are lower. Many households shop frequently for small quantities rather than doing a large weekly shop. And consumers have embraced app-based ordering. Together, these factors make the economics of fast delivery much more workable than in sprawling, high-wage cities.
The role of advertising
As quick commerce apps have grown, consumer brands have started paying to promote their products inside them, much as they pay for placement in supermarkets. Advertising revenue is especially valuable because it carries little extra cost. Each additional rupee of advertising income goes almost straight to the bottom line. For Zepto and its rivals, growing advertising is one of the most important levers for reaching profitability.
Questions to ask about any quick commerce business
- How many orders does a typical store handle per day, and how long until a new store becomes profitable?
- What is the average order value, and is it rising?
- How much revenue comes from advertising and fees rather than product margins?
- How often do customers return, and how much is spent on discounts to keep them?
The answers show whether growth is building a sustainable business or simply buying market share. Investors will look for these numbers in Zepto's IPO documents when they are published, and they are the best guide to how its valuation should compare with rivals.
Comparing those per-order figures across rivals is the clearest way to judge who is building the strongest business, rather than who is simply growing fastest.
Store-level profitability, more than total revenue, will decide which quick commerce players last.
We update this Zepto profile when new annual results or funding rounds are confirmed.
What this means if you're…
A consumer brand in India: quick commerce apps are becoming important sales and advertising channels, so understand each platform's fees and placement options.
A founder: Zepto shows how fast a company can grow when execution is strong and capital is available, and how much that growth costs.
An investor: focus on per-order economics and the path to profitability rather than revenue growth alone.
Latest developments (October 2026)
Zepto is close to listing. SEBI cleared its draft prospectus in May 2026, and in June the company filed an updated draft for a fresh issue of up to ₹8,010 crore plus a sale of shares by existing investors, according to Retail Insight Network. The money is earmarked for more dark stores, technology and marketing. A July listing was widely expected, but as of October 2026 Precize reported no price band or listing date. See our largest Indian startups guide.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Zepto do?
Zepto is a consumer internet / quick commerce (10-minute delivery) company headquartered in Mumbai, Maharashtra, India. It was founded in 2021.
What is Zepto's valuation?
Zepto was valued at US$7 billion as of October 2025, according to Business Standard. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Zepto make?
Zepto reported ₹11,110 crore (about US$1.3 billion), up about 149% from ₹4,454 crore (annual revenue, fy2025 (from company filings, as reported)) as of FY2025, according to Business Standard.
What was Zepto's latest funding round?
The most recent financing we have verified is a equity round (primary and secondary) in Oct 2025: About US$450M, at a valuation of US$7B. Source: Business Standard.
Who are Zepto's investors?
Investors named in public announcements include CalPERS.
Who founded Zepto?
Zepto was founded in 2021 by Aadit Palicha (CEO) and Kaivalya Vohra.
Is Zepto a public company?
No. Zepto is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Zepto headquartered?
Zepto is headquartered in Mumbai, Maharashtra, India.