Kaivalya Vohra, who is only 19 years old and the co-founder of the grocery delivery business Zepto, is currently the youngest individual in India to have a personal wealth that is at least equal to or greater than Rs 1,000 crore. Let’s find out who this Kaivalya Vohra person is.
According to a source, Kaivalya Vohra, the creator of Zepto, the fastest grocery delivery service in India, is the youngest Indian to have a net worth of more than Rs 1,000 crore. Kaivalya Vohra founded Zepto in 2014. She will be 19 years old this year. On the IIFL Wealth Hurun India Rich List 2022, he was placed at position 1,036 with a net worth of Rs 1,000 crore.
Vohra received a Bachelor of Science in Computer Science from Stanford University, where she studied for four years. In May of 2020, he launched a new kind of grocery delivery service under the brand name KiranaKart.
Who found Zepto?
Zepto was established in the year 2020 by Vohra and Aadit Palicha. The list also includes Palicha, who is only 20 years old yet has a net worth of 1,200 crore rupees.
In May, Zepto was able to receive finance in the amount of $200 million from a round that was led by YC Continuity Fund. Following the completion of the fundraising, the valuation of the fledgling company increased to a total of $900 million. In December, it was estimated to be worth $570 million.
How Zepto works?
The company Zepto, whose name comes from the word “zeptosecond,” a very small unit of time, promises to deliver your goods in a matter of minutes. Following their departure for India, Vohra and Palicha had the objective of launching an immediate commerce venture when they got there and decided to start their own business. At debut, the platform made a commitment to a delivery time of just 10 minutes. Later on, delivery in minutes was used in its place of the original option.
What does Zepto plan to expand?
It has been claimed that Zomato intends to expand to 24 cities in India by the year 2023. It is now operating in 11 cities at this time. In addition to that, it intends to provide delivery services around the clock in a number of cities.
On the other side, Blinkit has recently been giving Zepto a run for its money in terms of competition. Zomato made the acquisition of Blinkit in June for a sum of 700 million dollars. Grofers was the previous name for this business.
They are in competition with other businesses such as Dunzo, Swiggy, and Instamart.
What is Zepto going to grow?
It has been stated that Zomato intends to operate in 24 cities across India by the year 2023. It is now being utilised in 11 different settings. In addition to that, it intends to provide delivery services around the clock in a number of cities.
On the other side, Blinkit has been causing Zepto a significant amount of trouble as of late. Zomato paid a total of 700 million dollars to acquire Blinkit back in June. Grofers was the original name for this business.
To be fair, the majority of us do get “business ideas” from time to time, but the majority of us do not know how to convert those ideas become successful businesses. However, Adit Palicha and Kaivalya Vohra, both of whom are currently 19 years old, are not part of the other group. They are the creators of Zepto. Y Combinator is an investor in a firm called Zepto, which was founded by two men who had dropped out of Stanford University. Zepto promises to deliver groceries within ten minutes. This was his second attempt at opening a business. Because he was unable to locate a customer base for his product, he was forced to close the doors on his first company, Kiranakart.
Both Palicha and Vohra enrolled at Stanford University with the intention of earning degrees in computer science, but they ultimately decided to pursue other career paths and launch their own companies. He was confined to his house due to the pandemic, and it was during this time that he conceived of Zepto. Due to a rise in the number of home deliveries, it took a few days longer than usual for the buyer to receive their food and other requirements. Because of this, there was space for fast delivery. Therefore, with this line of reasoning in mind, Zepto was conceived.
His proposal was well received by investors. A round in which they secured $60 million was headed by Glad Brook, Nexus, Lachey Groom, Y Combinator, and Global Founders Capital earlier this month. Vohra stated that his Net Promoter Score (NPS) increased as soon as he began the delivery in 10 minutes. “It’s no secret that clients value prompt delivery,” said the business owner. The data speaks for itself – once we started delivering in 10 minutes, our NPS improved and was at about 85 with a 50%+ week-on-week user retention rate, which indicates that our customers How much we love our product,” he said in a statement. “The data speaks for itself.
Even more impressive is the fact that he only started the company in April of this year, despite the fact that the $60 million round is already impressive. The Zepto can be purchased for anywhere between $200 and $300 million dollars at the moment. In spite of this, there is absolutely no cause for concern on their part. In point of fact, the business, which has only been around for a few months, is competing with industry titans such as Swiggy, BigBasket, Grofers, and others. Grofers, for instance, claims on its website that it can deliver in ten minutes. Swiggy is now able to deliver groceries, toiletries, and even self-care products in as little as 15 minutes thanks to Instamart.
They are better prepared for warfare because to Zepto’s network of “cloud shops,” which are essentially miniature warehouses. They are able to make deliveries right now in some areas like Mumbai, Delhi, Bengaluru, Gurugram, and Chennai. They are currently en route to establish themselves commercially in Hyderabad, Kolkata, and Pune. More than one hundred thousand users have obtained it from the Google Play Store and used it. The website advertises that it has thousands of goods available for purchase. Additionally, Zepto affirms that it will deliver between the hours of 7 am and 1 pm.
According to Palicha, all of her efforts are finally paying off as she has successfully raised $60 million. In a statement, he stated, “Today, we are growing 200% per month with an unstoppable workforce, excellent product infrastructure, and deep access to institutional financing.”
Their initial firm, KiranaKart, did not receive as much attention as Pallicha and Vohra’s second venture, Zepto, which is what is making them famous. On the other hand, Zepto stole the idea from KiranaKart and ran with it. The name of the company, Kiranakart, gives the impression that it also operated as a grocery delivery service. It was able to supply groceries in a timely manner of forty-five minutes by working with grocery merchants. Angel investors, led by Global Founders Capital, Contrast Capital, and 2AM Ventures, together raised a total of $730,000 during the pre-seed round. At that time, Vohra and Palicha desired to complete the initial 1.5 lakh deliveries for the low price of one rupee each.
According to TechCrunch, the two men decided to focus their app development efforts on grocery delivery because it was the most difficult task for them as two single men living alone to shop for food. Therefore, whereas the purpose of Kiranakart is to facilitate grocery delivery for kiranas, the objective of Zepto is to speed up the process.
Y Combinator was instrumental in the launch of Kiranakart, which took place in June of 2020. It ceased operations in March of 2021, and in April, its creators established Zepto. Kaivalya Vohra is one of the company’s co-founders and serves as its Chief Technology Officer (CTO). Zepto is India’s most rapidly expanding online grocery store. In 2021, Kaivalya and Adit Palicha established Zepto as a separate business entity. As of the month of May 2022, the value of the corporation was $900 million.
In the year 2020, Vohra and Palicha were the ones who initiated the Kiranakart project. A company called Kiranakart, which has its headquarters in Mumbai, has announced that it will deliver groceries all throughout the city of Mumbai in just forty-five minutes. However, because they were unable to locate a customer base for their product, they were forced to close Kiranakart.