19-YO Zepto Founders Become Youngest Indians on ‘Rich List’

IIFL (India Infoline Limited) Wealth Hurun India Rich List 2022 has released the names of 100 of the richest startup founders in the country. This year, 65 founders from 37 unicorns made it to the IIFL Wealth Hurun India Rich List 2022.

Of these, the youngest are Kaivalya Vohra and Aadit Palicha, 19-year-old co-founders of the grocery delivery startup Zepto.

Kaivalya Vohra and Aadit Palicha co-founders of Zepto.
Kaivalya Vohra and Aadit Palicha co-founders of Zepto.

The idea of starting Zepto struck them when during the COVID-19 lockdown they were unable to access groceries.

Things to know about the duo:

1. Bengaluru-based Kaivalya is the youngest self-made rich individual to be featured on the list. With a wealth base of Rs 1,000 crore, Kaivalya is the 1,036th richest individual on the list, while Aadit ranked 950th with a net worth of Rs 1,200 crore.

2. Based in Mumbai, Zepto is amongst the fastest growing e-grocery companies valued at $900 million. Currently operational across 10 cities in India, the company has over 1,000 employees.

3. Formerly known as Kiranakart, the company’s USP is their contactless delivery. The duo named the company Zepto, which means a minuscule unit of time. The company’s average delivery time is at 8 minutes and 40 seconds.

4. In order to stay connected with the business, the duo handled several different functions on their own during the early days. This included customer support and even delivery of groceries.

5. Kaivalya and Aadit have been friends since they were eight years old and also attended school together in Dubai. In an interview with CNBC, Aadit said, “Kaivalya and I really complement each other’s skill set. He has always been more technically sound than I am, so he’s made a great chief technology officer.”

Sources:

How two teens built an app worth $900 million — Zepto’s founders share three tips by Goh Chiew Tong

 (Edited by Yoshita Rao)

Author: Aaron Ryan