Aadit Palicha-led Zepto raises Rs 7.5 crore funding from Elcid Investment

Zepto, the quick commerce giant that delivers products in just 10-minutes, has raised Rs 7.5 crore from NBFC firm Elcid Investment, according to a recent stock exchange filing. The investment comes at a time when the Mumbai-headquartered firm is in advanced talks to secure $500 million in a funding round that may value it at $7 billion.

As per the regulatory disclosure, Elcid Investment is set to acquire 22,55,639 equity shares at Rs 33.23 apiece, representing a 0.039% stake in Zepto. 

Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto has seen exponential growth in its topline over the past three fiscal years. The company reported a turnover of Rs 11,110 crore in FY25, more than doubling from Rs 4,454.5 crore in FY24 and Rs 2,024.4 crore in FY23.

Zepto recently completed a shift in domicile from Singapore to India, aligning with its broader objective of pursuing a public listing. However, the company’s initial public offering, originally anticipated for FY25, has now been deferred to FY26, according to media reports.

The firm competes in a crowded and increasingly lucrative quick commerce market. Blinkit, a competing platform owned by Eternal, reported around Rs 2,400 crore in revenue for the first quarter of FY26, surpassing Eternal’s flagship food delivery vertical for the first time. Swiggy’s Instamart division, another rival in the space, has yet to disclose its Q1 FY26 numbers.