Zepto, the Mumbai-born quick-commerce unicorn, has roped in telecom industry veteran Akhil Gupta as an independent director to its board. Gupta, Vice Chairman of Bharti Enterprises, brings decades of IPO expertise, having steered Bharti Airtel, Bharti Infratel, and Airtel Africa to successful public listings. His appointment signals Zepto’s focus on robust governance and investor confidence as it eyes a late-2025 or early-2026 market debut.
Funding Spree and Valuation Surge
The Bengaluru-based startup has flipped its holding company from Singapore to India and raised over $1.6 billion in funding since mid-2024. Recent rounds include $665 million (June 2024), $340 million (August 2024), and $350 million from Indian investors like Motilal Oswal and Claypond Capital. Zepto is now facilitating a $250 million secondary share sale to boost domestic ownership beyond 50% before listing. The firm’s valuation remains steady at $5 billion, with annualized gross order value (GOV) nearing $4 billion—a 300% YoY jump.
Leadership Reshuffle and Expansion Plans
Alongside board changes, Zepto has promoted key executives: Devendra Meel (Chief Business Officer), Nikhil Mittal (CTO), and Divesh Sawhney (Chief Growth Officer). The exits of former CMO Amritansu Nanda and finance head Ashish Shah highlight the dynamic shifts as Zepto scales. The company now operates 900+ dark stores (aiming for 1,000) and processes 1.1–1.3 million daily orders. Non-grocery categories like electronics and apparel contribute ₹200 crore monthly.
Market Dominance and Profitability Push
Zepto’s GOV growth aligns with India’s booming quick-commerce sector, projected to fuel a $96.3 billion online grocery market by 2033. CEO Aadit Palicha recently highlighted a 50% reduction in EBITDA burn (excluding ESOPs) while maintaining rapid scale. The firm also plans to launch Zepto Café as a standalone app and expand to 50+ cities.
Why This Matters
Gupta’s IPO mastery and Zepto’s aggressive scaling position it as a key player in India’s e-commerce boom. With domestic investors gaining larger stakes and governance upgrades, Zepto’s market debut could rival recent listings like Zomato and Nykaa.