Kaivalya Vohra, who is just 19 and co-founder of grocery delivery company Zepto, is currently the youngest person in India to have a personal wealth of at least Rs 1,000 crore or more. Let’s find out who this person from Kaivalya Vohra is.
Kaivalya Vohra
Kaivalya Vohra
According to a source, Kaivalya Vohra, the creator of Zepto, India’s fastest grocery delivery service, is the youngest Indian to have a net worth of over Rs 1,000 crore. Kaivalya Vohra founded Zepto in 2014. She will be 19 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.
Read also : Trump’s CFO Allen Weisselberg is a Jew, a family, and a businessman’s salary
Vohra studies
Vohra earned a Bachelor of Science in Computer Science from Stanford University, where she studied for four years. In May 2020, it launched a new type of grocery delivery service under the KiranaKart brand.
Who found Zepto?
Zepto was created in 2020 by Vohra and Aadit Palicha. The list also includes Palicha, who is only 20 years old but has a net worth of Rs 1,200 crore.
In May, Zepto was able to receive $200 million in funding in a round led by YC Continuity Fund. After the fundraising was completed, the valuation of the fledgling company increased to a total of $900 million. In December, its value was estimated at $570 million.
Also Read: Update on Pooch Selfie and Net Worth in 2022: Is the Company Still in Business from Shark Tank
How does Zepto work?
The company Zepto, whose name comes from the word “zeptosecond”, a very small unit of time, promises to deliver your goods in a few minutes. After leaving for India, Vohra and Palicha had their sights set on starting an immediate business venture when they got there and decided to start their own business. In its early days, the platform committed to a delivery time of just 10 minutes. Later, delivery within minutes was used instead of the original option.
The co-founder of grocery delivery service Zepto
What is Zepto planning to expand?
It has been claimed that Zomato intends to expand to 24 cities in India by 2023. It currently operates in 11 cities. Besides that, it intends to provide 24-hour delivery services in a number of cities.
On the other side, Blinkit recently gave Zepto a run for its money in terms of competition. Zomato acquired Blinkit in June for $700 million. Grofers was the old name of this company.
They compete with other companies such as Dunzo, Swiggy and Instamart.
What will Zepto develop?
It has been stated that Zomato intends to operate in 24 cities across India by 2023. It is now used in 11 different settings. Besides that, it intends to provide 24-hour delivery services in a number of cities.
On the other side, Blinkit has been giving Zepto a lot of trouble recently. Zomato paid a total of $700 million to acquire Blinkit in June. Grofers was the original name of this company.
To be fair, the majority of us have “business ideas” from time to time, but the majority of us don’t know how to convert those ideas into successful businesses. However, Adit Palicha and Kaivalya Vohra, who are both currently 19, are not in the other group. They are the creators of Zepto. Y Combinator is an investor in a company called Zepto, which was founded by two men who had dropped out of Stanford University. Zepto promises to deliver groceries in ten minutes. This was his second attempt at opening a business. Unable to find a clientele for his product, he was forced to close the doors of his first business, Kiranakart.
Both Palicha and Vohra enrolled at Stanford University with the intention of pursuing computer science degrees, but ultimately decided to pursue other career paths and start their own businesses. He was confined to his home due to the pandemic, and it was during this time that he designed Zepto. Due to an increase in home deliveries, it took a few days longer than usual for the buyer to receive their food and other necessities. For this reason, there was room for fast delivery. Therefore, with this line of reasoning in mind, Zepto was designed.
His proposal was well received by investors. A round in which they secured $60 million was led by Glad Brook, Nexus, Lachey Groom, Y Combinator and Global Founders Capital earlier this month. Vohra said his Net Promoter Score (NPS) increased as soon as he started delivering in 10 minutes. “It’s no secret that customers appreciate fast delivery,” the business owner said. The data speaks for itself – once we started delivering in 10 minutes our NPS improved and was around 85 with a user retention rate of over 50% week on week. each other, which tells 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 launched the business in April of this year, despite the already impressive $60 million seed round. The Zepto can be purchased at the moment between 200 and 300 million dollars. Despite this, there is absolutely no reason to worry about them. In fact, the company, which has only been around for a few months, competes with industry titans such as Swiggy, BigBasket, Grofers and others. Grofers, for example, 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 through Instamart.
They are better prepared for war thanks 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 on their way to establishing themselves commercially in Hyderabad, Kolkata and Pune. More than hundred thousand users got it from Google Play Store and used it. The website advertises that it has thousands of products available for purchase. Additionally, Zepto says it will deliver between 7 a.m. and 1 p.m.
According to Palicha, all her efforts are finally paying off as she managed to raise $60 million. In a statement, he said, “Today we are growing 200% per month with an unstoppable workforce, excellent product infrastructure and deep access to institutional funding.”
Their initial venture, KiranaKart, didn’t receive as much attention as Pallicha and Vohra’s second venture, Zepto, which made them famous. On the other hand, Zepto stole the idea of KiranaKart and raced with it. The name of the company, Kiranakart, gives the impression that it also operated as a grocery delivery service. He was able to deliver groceries within forty-five minutes by working with grocers. The angel investors, led by Global Founders Capital, Contrast Capital and 2AM Ventures, together raised a total of $730,000 in the pre-seed round. At that time, Vohra and Palicha wanted to make the initial deliveries of 1.5 lakh 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 buy food. Therefore, while Kiranakart’s goal is to make grocery delivery easier for kiranas, Zepto’s goal is to speed up the process.
Y Combinator was instrumental in the launch of Kiranakart, which took place in June 2020. It ceased operations in March 2021 and in April its creators created Zepto. Kaivalya Vohra is one of the co-founders of the company and serves as its chief technical officer (CTO). Zepto is the fastest growing online grocery store in India. In 2021, Kaivalya and Adit Palicha created Zepto as a separate business entity. As of May 2022, the company’s value is $900 million.
In 2020, Vohra and Palicha are the ones who started the Kiranakart project. A company called Kiranakart, headquartered in Mumbai, has announced that it will deliver groceries throughout the city of Mumbai in just forty-five minutes. However, failing to find a clientele for their product, they were forced to close Kiranakart.
Read more: Danny Fairbrass&Wife: Who is she? Where is businessman Korda in 2022
