Zepto’s GOV up 3x to $3 billion in 8 months, says CEO Aadit Palicha

Zepto CEO Aadit Palicha

Quick commerce unicorn Zepto has tripled its gross order value (GOV) over the last eight months to around $3 billion (~Rs 24,500 crore), and is close to achieving profitability, said co-founder and CEO Aadit Palicha on Wednesday.

“In April 2024, we shared with Goldman Sachs in a research note that Zepto has crossed $1 billion in annualised GOV. Eight months later, in January 2025, we are now at approximately $3 billion in annualised GOV (~Rs 24,500 crore),” Palicha said in a post on social media platform LinkedIn.

Palicha added that he is confident in achieving overall profitability for the business in the near term.

To be sure, Zepto’s GOV figure, shared by Palicha on January 15, would put at par with current market leader Blinkit, and much ahead of rival Swiggy Instamart.

Zepto is currently the second largest quick commerce player in the market with a market share of 29 percent, trailing behind Blinkit, which has a 46 percent market share. Instamart is in third place with a 25 percent share, according to a recent report by Motilal Oswal.

It is, however, important to note that Motilal Oswal’s wealth team ran the mandate for Zepto’s latest fundraise, as reported by Moneycontrol. Further, Raamdeo Agrawal, chairman and co-founder of Motilal Oswal is also an investor in Zepto and Swiggy in his personal capacity.

For context, Blinkit reported a GOV of Rs 6,132 crore in Q2 FY25, which translates to an annualised GOV of around Rs 24,528 crore. This is just a touch above Zepto's Rs 24,500 crore, even though the Gurugram based company has a larger market share than Zepto.

Meanwhile, Instamart reported a GOV of Rs 3,382 crore during the same period. Its GOV on an annualised basis would, therefore, figure in at an estimated Rs 13,528 crore while not being far behind in terms of market share.

Zepto has recently been on a funding spree, as it hurtles towards an initial public offering (IPO) expected sometime later this year.

In preparation, the company recently set up a new entity, Zepto Marketplace Private Limited, to simplify its operations, and has also received approval from the National Company Law Tribunal (NCLT) to make Kiranakart Pte. Ltd Zepto’s holding company.

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In fact, in the run up to its IPO, the company has taken several other steps, including raising over Rs 2,900 crore from domestic investors like Motilal Oswal and more, to increase domestic shareholding.

Zepto has raised a total of $1.35 billion in back to back funding rounds to take on rivals Blinkit and Instamart.