Grocery delivery unicorn Zepto moving headquarters from Mumbai to Bengaluru

10-minute grocery delivery unicorn 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 to bear relocation expenses

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. 

Currently, it operates from an 80,000-90,000 square foot property in Mumbai and a 30,000-40,000 square foot space in Bengaluru. The three-year-old startup will move into a larger, 150,000 square foot property in Bengaluru.

Funding and investors

The development comes more than a month after it raised $665 million in a Series F funding round at a valuation of $3.6 billion. Prior to that, the startup raised $200 million in August last year at a valuation of $1.4 billion.

It is backed by notable investors, including StepStone Group, Goodwater Capital, Nexus Venture Partners, Glade Brook Capital, and Lachy Groom, Avenir, Lightspeed, and Avra (a new fund by Anu Hariharan).

Founded in 2021 by Stanford dropouts Kaivalya Vohra and Aadit Palicha, Zepto operates an online grocery delivery platform with a presence in Bengaluru, Chennai, Delhi, Ghaziabad, Gurgaon, Hyderabad, Kolkata, Mumbai, Noida, and Pune.