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Who are Zepto founders, the youngest members of Hurun India's Rich List

The presence of Kaivalya Vohra, 19, and Aadit Palicha, 20, in the rich list points to the growing influence of startups in India.

September 22, 2022 / 09:56 AM IST
Kaivalya Vohra and Aadit Palicha were both students of Stanford, who decided to drop out of the university's computer science course to pursue entrepreneurship.(Images: LinkedIn)

Kaivalya Vohra and Aadit Palicha were both students of Stanford, who decided to drop out of the university's computer science course to pursue entrepreneurship.(Images: LinkedIn)

Zepto co-founder, 19-year-old Kaivalya Vohra, has become the youngest Indian, and the first teenager, to join the list of millionaires in the country.

According to the IIFL Wealth Hurun India Rich List 2022, Kaivalya Vohra's net worth is Rs 1,000 crore. Aadit Palicha, his teammate, has Rs 1,200 crore in personal wealth just at the age of 20.

Vohra and Palicha were both students of Stanford, who decided to drop out of the university's computer science course to pursue entrepreneurship.

Two childhood friends who grew up in Dubai, they decided to tap into the booming online grocery delivery area amid the coronavirus crisis in India.

Their venture was initially KiranaKart, a platform that partnered with kirana (grocery stores) for online delivery.

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Later, it became known as Zepto, and raised $60 million in funding in November 2021. The platform promised 10-minute grocery delivery.

In another funding round in December, it raised $100 million, and came to be valued at $570 million.

Forward to May this year, Zepto received $200 million in funding, pushing its value up to $900 million.

The over 50 percent rise in valuation of Zepto has made founders Vohra and Palicha the youngest members of India's rich club.

Vohra making his debut in the rich list is an indicator of the growing influence of startups in India, the Hurun Research Institute said.

"The youngest, ten years ago, was 37 and today, is 19, indicating the impact of the startup revolution," they added.

Vohra and Palicha have also featured in Forbes magazine's influential "30 under 30 (Asia list) in the e-commerce category.

For Palicha, the startup journey began at 17, when he founded a student carpool application in Dubai, called GoPool.
Moneycontrol News
first published: Sep 22, 2022 09:52 am
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