Hurun India, the research company, just announced its Future Unicorn Index 2022 list, which includes the names of new figures Aadit Palicha and Kaivalya Vohra. They are the co-founders of Zepto. They reached the IIFL Wealth-Hurun India Rich List 2022 as the youngest entrepreneurs.
The youngest among the wealthiest Indians, Kaivalya, is only 19 years old. With a net worth of $1 billion, Kaivalya is rated 1036 on the Hurun list. Aadit, at the age of 17, established his first firm, GoPool, before launching Zepto. He is the 950th on the Hurun List 2022 and has a net worth of Rs 1,200 crore. They have previously been listed in the prestigious “30 under 30 (Asia list)” of Forbes magazine in the e-commerce category.
Aadit Palicha and Kaivalya Vohra
Their New Venture
Zepto means” a factor of 10⁻²¹. A minimal unit of time. It was the name given to the Mumbai-based firm providing groceries within 10 minutes. It is a platform created to revolutionise the buying, selling, and delivering of food items. Customers may quickly order over 2500 products and receive them at their doorstep using Zepto’s 10-minute e-grocery application.
This app was put forward by intelligent teens Aadit Palicha and Kaivalya Vohra. Both enrolled at Stanford to study computer science but left to pursue their entrepreneurial interests. They remained confined to the apartment during the Corona outbreak.
As a result of the rise in demand for delivery services, groceries and other essentials arrive in a few days, leaving space for expedited delivery. From these situations, they developed the app Zepto. Since then, it has grown to six cities, including Delhi and Bengaluru.
Their first initiative was ’Kiranakart’. It was a supermarket delivery service with connections to Kirana dealers. It has made arrangements to deliver groceries in forty-five minutes. It was in use from June 2020 until March 2021.
Zepto-10-minute e-grocery application
How does Zepto work?
The Dark Store Model
It describes a business or distribution centre that focuses exclusively on online customers. A dark store is typically a sizable warehouse that serves as both an order fulfilment platform for online sales and a “click-and-collect” service that allows customers to pick up items they have ordered online. The “dark store model” eliminates the minor issues that any delivery service experiences, such as traffic jams, connectivity, and navigation.
The network’s performance, according to Zepto, has been enhanced by the use of location information, geography, population, road patterns, traffic dynamics, weather, last-mile supply availability, real estate values, and other factors. Currently, it has over 40 dark stores in various locations.
- Location Intelligence
It uses linkages between geospatial data to get relevant knowledge to address a specific issue. Multiple data sets are overlaid temporally or geographically for convenient reference on a map and have a wide range of applications across different sectors, groups, and organisations.
- Mini Warehouses
They are buildings that have several rental storage spaces or vaults. Each unit is physically isolated from the others, and access is typically made possible by an overhead door or another common access point.
Advantages of Zepto Business Model
- Improved Distribution and faster delivery
- Broader Customer Reach
- Contactless Shopping
- Improved Inventory Control and Better Product Assortment
Zepto employs a network of dark stores and mini-warehouses to deliver groceries in ten minutes. It contained hundreds of micro-warehouses, each of which could handle more than two thousand five hundred daily orders. Zepto concentrates on India’s fast commerce market. It is centred on the instant service model and has a customer-centric design. The company, which launched recently, is now worth $900 million. Due to a recent $200 million fundraising round, it experienced a considerable increase in valuation.
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