'Bengaluru is a premier destination for startups': Karnataka IT Minister on Zepto moving HQ from Mumbai

Following Zepto's decision to move its headquarters from Mumbai to Bengaluru, Karnataka's IT Minister Priyank Kharge, in a post on X, said the city has the best startup ecosystem in the country.

Kharge welcomed the 10-minute grocery delivery startup to Bengaluru. He said the move emphasizes "Bengaluru’s status as India’s tech capital and a premier destination for startups."

Highlighting the city's unparalleled startup ecosystem, Kharge noted that Bengaluru has raised a $70.1 billion since 2010, with $15.1 billion raised in this year alone. "The city leads in B2B funding at $34.9 billion and B2C funding at $4.9 billion. It is home to 45 unicorns valued at $160.8 billion," he wrote.

"Our city is also the most millennial-friendly in India for education and employment, ranking 18th in the Asia Pacific. With 3,600+ funded tech startups and the highest number of employable female talent, Bengaluru is where innovation thrives," Kharge wrote.

"I invite more startups to join us and flourish in the best startup ecosystem in India," he added.

Unicorn quick commerce startup @ZeptoNow is relocating from Mumbai to Bengaluru. This move emphasizes on Bengaluru’s status as India’s tech capital and a premier destination for startups.

Bengaluru offers an unparalleled startup ecosystem, boasting:

- $70.1Bn raised by startups…

— Priyank Kharge / ಪ್ರಿಯಾಂಕ್ ಖರ್ಗೆ (@PriyankKharge) August 7, 2024

Earlier this week, It was reported that Zepto is shifting its headquarters from Powai in Mumbai to Sarjapur in Bengaluru, the capital city of Karnataka.

While the startup already has an office in Bengaluru, a Moneycontrol report said that Zepto aims to move all corporate roles into a bigger space and consolidate operations from across cities.

After the successful relocation, It is expected that Zepto's 1,700-1,800 employees will come under one roof.

Zepto's relocation to Bengaluru is expected to cost the company approximately Rs 4 crore as a one-time expense to cover its employees' relocation costs.

However, the move will also enable Zepto to save about Rs 40-50 lakh in rent per month, according to the report.