Two 19-year old dropouts Aadit Palicha and Kaivalya Vohra, have turned up their heads towards a promising start-up ecosystem, namely Zepto, which is a 10-minute delivery app.
They initially had around $60 million of funding; the young duo disclosed all their plans and their journey in an interview.
According to the firm, the start-up worth is somewhere between $200 million to $300 million. The start-up is backed by Glade brook Capital, Y Combinator and also Lachy Groom and Neeraj Arora as angel investors.
The Mumbai based founders of the start-up have said that all of their orders are customised Expected Time of Arrival (ETA), which could be six or seven minutes that is dependent on the resource availability and location of the destination.
The duo claimed that all of their orders reach within the Expected Time of Arrival (ETA).
When asked, what about the orders that don’t reach with expected ETA? The duo replied that they reconcile with the customers by offering them incentives or discounts on orders.
As of now, all deliveries from the application are free of cost.
In between 7 am to 2 am, the customers can order a variety of groceries such as fruits, vegetables, meat, etc. and soft drinks, chocolate, & medicines.
Since primary school, the duo Mr Aadit Palicha and Mr Kaivalya Vohra have been friends. They both got admission to Standford University’s computer science engineering program.
They also said that they never imagined they could achieve what they have today.
The model took around three months to become perfect from experimentation by both of them.
They said that the idea came to their minds when they were experimenting with grocery delivery; initially, they wanted to do quick delivery, which they imagined to be around 45 minutes.
But after talking with customers and analysing their needs and reactions. Customers who were getting the groceries in 10-15 minutes duration were spending more on the platform, and this is how they got to understand to give what the customers expect.
There are already big companies in grocery delivery markets in India such as Swiggy, Softbank Group Corp-backed Grofers, and Google-backed Dunzp; still, the duo felt confident with their start-up and thought of no company as their rivals.