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Who is Kaivalya Vohra? Meet the youngest richest Indian with 1000 Cr.

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Edward Jacob
Edward Jacob
Edward Jacob is an American entertainment journalist who graduated with a degree in Bachelor of Arts. he won major broadcast awards for covering a wide range of backgrounds. He writes for a wide range of media outlets, especially on the latest news on upcoming films and T.V shows.

Kaivalya Vohra

A report states that Kaivalya Vohra, who launched fast grocery delivery service Zepto, is the youngest person in India to have a net worth of over Rs 1,000 crore. She just turned 19. On the IIFL Wealth Hurun India Rich List 2022, he came in at number 1,036 with a net worth of Rs 1 trillion.

Vohra earned a Bachelor of Science in Computer Science from Stanford University. In May 2020, he launched another grocery delivery service called KiranaKart.

Kaivalya Vohra
Kaivalya Vohra

Who did Zepto find?

Vohra and Aadit Palicha started Zepto in 2020. The list also includes Palicha, who is 20 years old and has a net worth of Rs 1,200 crore.

In May, YC Continuity Fund led a funding round for Zepto which raised $200 million. After funding, the startup was worth nearly double that, at $900 million. In December, he was worth $570 million.

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How does Zepto work?

Zepto, which stands for ‘zeptosecond’, a very small amount of time, promises to deliver groceries in just minutes. It was started by Vohra and Palicha after they went to India to start a business that would trade right away. When launched, the platform announced that it would deliver in 10 minutes. In the end, delivery within minutes took its place.

What will Zepto develop?

Zomato is said to want to be in 24 Indian cities by 2023. It is now in use in 11 locations. It also plans to deliver to a number of cities around the clock.

On the other hand, Blinkit has been giving Zepto a lot of trouble lately. In June, Blinkit was acquired by Zomato for $700 million. It was formerly called Grofers.

To be fair, most of us have “business ideas” most of the time, but most of us don’t know how to make them work. But Zepto founders Aadit Palicha and Kaivalya Vohra, both 19, are not part of the second group. The two Stanford University dropouts created Zepto, a company that delivers groceries in 10 minutes and is backed by Y Combinator. It was their second company. Their first business, KiranaKart, had to close because they couldn’t find a market for it.

Palicha and Vohra went to Stanford to pursue a degree in computer science, but dropped out to start their own business instead. During the pandemic, they were stuck at home and came up with the idea for Zepto. As the number of door-to-door deliveries increased, groceries and other necessities took a few days to reach the buyer. This left space for instant delivery. So Zepto was launched with this thought in mind.

Investors liked their idea. Earlier this month, Glade Brook, Nexus, Lachy Groom, Y Combinator and Global Founders Capital led a round in which they raised $60 million. Vohra said his net promoter score (NPS) increased as soon as he started delivering in 10 minutes. “Simple and clear, customers like fast delivery. “The data speaks for itself: once we started delivering in 10 minutes, our NPS skyrocketed and remained at around 85 with a user retention rate of over 50% a week on the other, which shows how much our customers love our product,” he said in a statement.

While a $60 million seed round is impressive, the fact that they only started the business in April of this year makes it even more impressive. Zepto is said to be currently worth between $200-300 million. Even so, they have nothing to fear. In fact, the company, which has only been around for a few months, is up against giants like Swiggy, BigBasket, Grofers, and more. Grofers, for example, also says he will deliver in 10 minutes. With InstaMart, Swiggy can also deliver groceries, daily necessities, and personal care products in 15 minutes.

Zepto has a network of “cloud stores,” or small warehouses, that help prepare them for battle. They can deliver to parts of Mumbai, Delhi, Bengaluru, Gurugram and Chennai right now. They are on track to start doing business in Hyderabad, Kolkata and Pune. More than 100,000 people have downloaded it from Google Play Store. The site says it has thousands of items for sale. Zepto also says it will deliver between 7 a.m. and 1 a.m.

    Kaivalya Vohra
Kaivalya Vohra

Also read: Angie Asimus (presenter of 7 short stories) and her husband Chris Abbott had a child together

Palicha said their hard work is finally paying off now that they have raised $60 million. “Today, we are growing 200% every month with an unstoppable team, strong product infrastructure and deep access to institutional capital,” he said in a statement.

Zepto is what makes them famous, but Palicha and Vohra’s first venture, KiranaKart, didn’t get as much attention. Zepto, on the other hand, got his idea from KiranaKart. KiranaKart was also a shopping delivery service, as its name suggests. This worked with Kirana stores so groceries could be delivered within 45 minutes. In a pre-seed round, Global Founders Capital, Contrary Capital, 2 AM Ventures and angel investors led by Global Founders Capital raised $730,000. At the time, Vohra and Palicha wanted to make the first deliveries of 1.5 lakh for just Re 1.

TechCrunch says the two men focused on grocery delivery for their apps because it was the hardest thing for them to shop for groceries as two single men living alone. So while KiranaKart’s goal was to make grocery delivery easier for kiranas, Zepto’s goal is to speed up delivery.

KiranaKart was launched in June 2020 with the help of Y Combinator. It closed in March 2021 and the founders then launched Zepto in April. Kaivalya Vohra is the Co-Founder and Chief Technology Officer (CTO) of Zepto, India’s fastest growing online grocery company. Kaivalya and Aadit Palicha launched Zepto as a new company in 2021. As of May 2022, the company was worth $900 million.

Before Zepto, Vohra and Palicha launched Kiranakart in 2020. Kiranakart, a Mumbai-based online grocery delivery company, said it would deliver groceries all over Mumbai within 45 minutes. But they had to close Kiranakart because they couldn’t find a market for its product.

Palicha and Vohara launched Zepto in April 2021. The idea for the business came from back home during the pandemic. When they saw that more and more people wanted their groceries and other kitchen items delivered immediately to their homes, they decided to offer this service. Zepto’s slogan is “10 Minute Grocery Delivery”.

Investors eventually liked the idea, and Glade Brook’s capital led a funding round that brought in $60 million for the company.

Within a year, Zepto has become a serious competitor to big startups like Swiggy, BigBasket, Grofers, etc. Grofers, for example, also says he will deliver in 10 minutes. With InstaMart, Swiggy can also deliver groceries, daily necessities, and personal care products in 15 minutes.

Y Combinator Continuity, Kaiser Permanente, Nexus Venture Partners, Glade Brook Capital and Lachy Groom were among the big names that helped Zepto raise $200 million in its Series D funding round. Zepto is based in Mumbai and owns offices in 10 of India’s largest cities. It has more than 1,000 employees and delivers more than 3,000 products, such as fresh fruits and vegetables, kitchen essentials, dairy, health and hygiene products, and more, to Indian homes in less than 10 minutes. Zepto has added a cafe feature that allows customers to order coffee, chai, and other cafe items with their groceries.

Kaivalya Vohra went to Stanford to get a degree in computer science, but dropped out to become an entrepreneur instead. Vohra was born in Bengaluru, Karnataka, India. He went to school in Bengaluru and graduated from Stanford, but dropped out to start his own business. He speaks Hindi, English and French very well.

Kaivalya Vohra, co-founder and 19-year-old CTO of grocery delivery startup Zepto, is the youngest person on the list of India’s richest people, which was compiled by research firm Hurun India and the Wealth Management Company. IIFL Wealth.

Aadit Palicha and Vohra launched Zepto in 2020 in Mumbai. They are also the youngest startup founders on the Hurun India Future Unicorn Index 2022. When unable to get food in their area due to the COVID-19 pandemic lockdown, Stanford dropouts created the company. Vohra’s wealth is worth 1 trillion rupees.

Zepto used to be called Kiranakart. Its main selling point was that it could deliver groceries quickly and without any contact in just 10 minutes.

With a net worth of Rs 10,94,400 crore, billionaire Gautam Adani beat Reliance’s Mukesh Ambani to the top spot in the same list. People who live in India or who were born and raised there are on this list. This is the 11th time that India’s richest people have been ranked. Wealth calculations are a snapshot of the situation as of August 30, 2022.

The Hurun-IIFL Wealth list also showed that around 100 start-up founders out of 59 start-ups are on this list. These founders have an average age of 40 years and a total wealth of Rs 5,06,000 crore.

Along with Vohra, Alakh Pandey, known as ‘Physicswallah’ and co-founder of a company of the same name which has just become a unicorn, made his first appearance on the list at number 399 with a total wealth of Rs 4 000 crore.

Anas Rahman Junaid, MD and Chief Researcher at Hurun India, said at the launch of the list, “The best way to understand India’s entrepreneur strength or pipeline is to look at the startup ecosystem. , which is the third largest in the world with more than 80,000 start-ups. It has the third highest number of unicorns and gazelles of any country in the world.

He also said initial public offerings (IPOs) of some of the best-known start-ups have helped bridge the valuation gap between institutional and retail investors. Junaid says start-ups will continue to make people richer, but there will be “new rules in the game”.

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