Funding of Rs 7.5 crore obtained by Zepto, led by Aadit Palicha, from Elcid Investment
The quick commerce market in India is becoming increasingly lucrative, with players like Zepto and Blinkit vying for a share of the growing market.
In a recent development, Zepto, a quick commerce giant founded by Aadit Palicha and Kaivalya Vohra in 2021, has raised Rs 7.5 crore from Elcid Investment. This investment will see Elcid acquire 22,55,639 equity shares in Zepto, representing a 0.039% stake in the company.
The investment was disclosed in a stock exchange filing and comes as Zepto is in advanced talks to secure $500 million in a funding round. If successful, the funding round may value Zepto at $7 billion, according to industry insiders.
Meanwhile, Blinkit, a competing platform owned by Eternal, reported around Rs 2,400 crore in revenue for the first quarter of FY26. For the first time, Blinkit surpassed Eternal's flagship food delivery vertical in revenue.
Zepto's financial performance for the same period was not disclosed, but the quick commerce company has seen exponential growth in its topline over the past three fiscal years. In FY25, Zepto reported a turnover of Rs 11,110 crore.
The company aims to pursue a public listing, with its initial public offering (IPO) initially scheduled for FY25 but deferred to FY26. However, the name of the CEO of Zepto is not currently available in the public domain.
On the other hand, Swiggy's Instamart division has not yet disclosed its Q1 FY26 numbers, making it difficult to compare the performance of the two quick commerce players.
As the quick commerce market continues to heat up, it will be interesting to see how Zepto and Blinkit fare in the coming months and years. With the backing of investors like Elcid, Zepto is well-positioned to continue its growth trajectory and potentially challenge Swiggy's dominance in the Indian market.
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