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Quick commerce company <keyword id="19939134" type="General" weightage="100" keywordseo="Zepto" source="keywords">Zepto</keyword> on Friday said it has raised <keyword id="22130274" type="General" weightage="20" keywordseo="USD-665-million" source="keywords">USD 665 million</keyword> (about Rs 5,560 crore) in the latest funding round that valued the firm at USD 3.6 billion, almost triple than its worth a year back. The massive fundraise comes less than a year after the Mumbai-based startup raised USD 235 million at a valuation of USD 1.4 billion. The funding round saw participation from new investors like Avenir, Lightspeed, and Avra, alongside existing investors Glade Brook, Nexus, and StepStone, Goodwater, and Lachy Groom. "We've gone from 0 to 1 billion-plus in sales, or GMV, in 29 months, that is faster than any other internet company before us... Even on a base of over a billion dollars at this point, we are growing 100 per cent-plus year on year. And that for us is one of the big drivers of this fundraise," Zepto co-founder and CEO Aadit Palicha told PTI. Attributing the growth to the performance of the quick commerce firm, the young entrepreneur said, "This is largely because of the input excellence we've built across the supply chain. "Whether it is sourcing excellence, mother hub efficiency, line haul utilisation, or our last mile, the innovation that we've done, or forecasting, we're in this place where even as we've been able to grow, we've been able to drive efficiency to get the business to pretty much close to full operating cash flow positive today." He said the overall business is close to operating at break-even cash flow. Nearly 75 per cent of the company's stores are fully EBITDA positive as of May 2024, he said. "Over the next 12-18 months, although it might fluctuate, but we'll still be pretty close to operating cash flow positive, and the idea is to keep in that direction, get the business to a place where we can list next 9-12 months," he said. Zepto co-founder and CTO <keyword id="12442402" type="General" weightage="20" keywordseo="Kaivalya-Vohra" source="Orion">Kaivalya Vohra</keyword> said the firm plans to hire top talent across engineering, product, growth, finance, operations, and category management. "If you are looking for a high growth, high meritocracy and high intensity culture where you can convert hard work and ambition into disproportionate career growth, Zepto is the place for you," he said.

Zepto raises USD 665 million; Valuation nearly triples to USD 3.6 billion

In 2024, grocery shopping is a thing of the past in India. Delivery platforms like <keyword id="19939135" type="General" weightage="20" keywordseo="Swiggy-Instamart" source="keywords">Swiggy Instamart</keyword>, <keyword id="20069203" type="General" weightage="20" keywordseo="Blinkit" source="keywords" meta.keywordsubtype="org" meta.entityname="Blinkit" meta.hostid="261" meta.entityid="Blinkit">Blinkit</keyword> and <keyword id="19939134" type="General" weightage="20" keywordseo="Zepto" source="keywords" meta.keywordsubtype="org" meta.entityname="Zepto" meta.hostid="261" meta.entityid="Zepto">Zepto</keyword> have made life easier for millions of people by delivering regular household items at their doorsteps. Ran out of salt? Order it online. Ran out of flour? Order it online. Need some stationery items for your kid’s school project? It can be delivered too. The list is endless. <h2><keyword id="21384253" type="General" weightage="100" keywordseo="Zepto-CEO" source="keywords">Zepto CEO</keyword> compares it with Zomato</h2> Zepto, which is newer when compared to Swiggy and Blinkit, is a popular choice in many areas. And its CEO and co-founder <keyword id="22736526" type="General" weightage="20" keywordseo="Aadit-Palica" source="keywords">Aadit Palica</keyword> feels that the company is in the stage where <keyword id="19904608" type="General" weightage="20" keywordseo="Amazon" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon" meta.hostid="261" meta.entityid="Amazon">Amazon</keyword> was in 1990s or early 2000s. While speaking at the Moneycontrol Startup Conclave 2024 on Friday, Palicha drew a bold comparison between his company’s current trajectory and that of Amazon during the late 1990s and early 2000s. He added that with the right execution, Zepto could potentially achieve a valuation between $50 billion and $80 billion, positioning itself as a leader in the global quick commerce sector. With that being said, Palicha is keenly aware that success isn’t guaranteed. “It is largely just execution,” he noted, talking about the importance of flawless operational strategy in turning potential into reality. He also acknowledged the history of companies that had the right ingredients for success but failed to execute, highlighting Zepto’s commitment to staying focused on its core business for the foreseeable future. Over the past year, Zepto has been on an aggressive fundraising streak, securing significant investments that have fuelled its growth. In August 2023, Zepto raised $231 million at a valuation of $1.4 billion, marking its entry into the unicorn club. But that was just the beginning. The startup recently closed another funding round, pulling in $665 million and boosting its valuation to $3.6 billion. The momentum doesn’t stop there. Zepto has attracted further interest from investors, with discussions underway for an additional $250 million in funding. This new round, which could grow to as much as $400 million, is expected to push the company’s valuation to around $4.6 billion. <h2>When Palicha said Zepto will be bigger than D-Mart </h2> This isn’t the first time that Palicha has made a bold prediction about Zepto. Last month, Palicha had said that Zepto would be bigger than D-Mart in the near future. Speaking at the JIIF Foundation Day event in Delhi, Palicha had pointed out that despite D-Mart’s impressive $30 billion valuation, the retail behemoth is currently only 4.5 times larger than Zepto in terms of sales. "D-Mart is a $30 billion company, and they are only 4.5 times our size in sales. If we maintain our current pace, growing 2-3 times each year, we could potentially surpass them in the next 18-24 months," Palicha had said.

Zepto CEO compares his startup to Amazon, says it can be worth 80 billion if things go right

<ul><li><keyword id="12437554" type="General" weightage="100" keywordseo="zepto" source="Orion">Zepto</keyword> elevates <keyword id="184778" type="General" weightage="80" keywordseo="ankit-agarwal" source="Orion">Ankit Agarwal</keyword> as CPO to improve customer experience and drive innovation across categories.</li><li>Zepto’s new CPO has also been a founder in the past, with Orinko, trying to build India’s first ever fruits and vegetables consumer brand.</li><li>Zepto turned the first unicorn of 2023 with a valuation of $1.4 bn last month and is working towards a public listing over the next 12-18 months. </li></ul> Quick commerce player Zepto on Monday announced the elevation of Ankit Agarwal as the company’s Chief Product Officer. A major part of Zepto’s journey ahead will be driven by innovation in product and technology. Ankit Agarwal, CPO, Zepto, explains, “We're not following trends; we're setting them. I'm excited to be part of that team that is revolutionising commerce in India.” Kaivalya Vohra, Co-founder and CTO, Zepto, said, “Ankit joined us about a year ago and in that time he has built strong rigour within the fulfilment charter. We've been able to ship world class technology over the last year; everything from building our entire last mile stack in-house to building and rolling out a warehouse management system in &lt;6 months, and many other needle-moving initiatives.” With 13+ years of product experience in companies such as Flipkart, Delhivery and Infra.Market, Ankit joined Zepto in August 2022 as SVP of Product to lead the entire fulfilment charter, spanning the entirety of supply chain, last mile and finance tech. Ankit has also been a founder in the past, with Orinko, trying to build India’s first ever fruits and vegetables consumer brand. With Ankit’s elevation, he will now own product end-to-end, from consumer to supply chain and last mile. The quick commerce player has its job cut out after it became a unicorn last month. Zepto is India’s 84th unicorn with its latest fundraise. India had 83 unicorns at the start of the year but several startups have lost that tag with down rounds and cuts in valuation. The quick commerce player, started by two teenagers two years ago, has raised $200 million through a Series E round at a valuation of $1.4 billion. The latest round is entirely primary. The agenda is to build a good capital base ahead of a potential listing in 2025. With this round, the startup has brought on board a bunch of new investors. This round was led by StepStone Group and this investment into Zepto is their first direct investment in an Indian company). Additionally, Goodwater Capital, a consumer-focused venture capital firm based in California, joined the round as a new investor. Notably, existing investors, like Nexus Venture Partners, Glade Brook Capital, Lachy Groom and more, doubled down on their investments in Zepto with meaningful follow-on investments.

Zepto appoints Ankit Agarwal as chief product officer to drive innovation in fulfilment

<ul><li>Existing and new investors invest $200 mn in the quick commerce company ahead of its public listing plans.</li><li>The Series E round was led by <keyword id="18533825" type="General" weightage="50" keywordseo="stepstone-group" source="Orion">StepStone Group</keyword>, which is its first direct investment in an Indian company.</li><li>Startup intends to become cash flow positive ahead of its public listing in 2025. </li></ul> <keyword id="2023017" type="General" weightage="20" keywordseo="unicorns" source="Orion">Unicorns</keyword> are rare animals even in the fiction world and during a <keyword id="6412154" type="General" weightage="20" keywordseo="funding-winter" source="Orion">funding winter</keyword> they become rarer. At a time when startups are left in the cold by venture capital funds, <keyword id="12437554" type="General" weightage="100" keywordseo="zepto" source="Orion">Zepto</keyword> has become India’s 84th unicorn with its latest fundraise. India had 83 unicorns at the start of the year but several startups have lost that tag with down rounds and cuts in valuation. The quick commerce player, started by two teenagers two years ago, has raised $200 million through a Series E round at a valuation of $1.4 billion. The latest round is entirely primary. The agenda is to build a good capital base ahead of a potential listing in 2025. With this round, the startup has brought on board a bunch of new investors. This round was led by StepStone Group and this investment into Zepto is their first direct investment in an Indian company). Additionally, Goodwater Capital, a consumer-focused venture capital firm based in California, joined the round as a new investor. Notably, existing investors, like Nexus Venture Partners, Glade Brook Capital, Lachy Groom and more, doubled down on their investments in Zepto with meaningful follow-on investments. Says <keyword id="12778880" type="General" weightage="50" keywordseo="aadit-palicha" source="Orion">Aadit Palicha</keyword>, Co-founder &amp; CEO of Zepto, said, “This business is about execution and we are succeeding because our execution is strong. Our culture of deep frugality and worshiping customers has gotten us here, but there is still so much for us to achieve. We are in this to build a generational company and it truly feels like this is just the beginning.” The startup is looking at becoming EBITDA (earnings before interest, taxes, depreciation and amortisation) positive over the next 12-18 months. And by early 2015, Zepto is looking to launch its initial public offering and take the company public. Earlier this month, Meesho, a homegrown e-commerce marketplace, became the first horizontal e-commerce company in India to turn profitable. In May, the startup retrenched 251 people as it was looking to cut costs. It had earlier handed pink slips to 300 employees in August last year. Talking to Business Insider, Palicha said that not only does the company seek to become EBITDA positive but Zepto will be cash flow positive by the time it hits public markets. Even though Zepto is pursuing profitable growth, it has not resorted to any retrenchment to cut costs. In a bear market like this, Palicha said that they learned that there is no either or when it comes to growth and profits. The current funding winter has taught these founders many things early on. Palicha says: “We have become better entrepreneurs in a bear market.The quality of decisions we took were not the same as they are today.” Like many startups Zepto too seems to have realised that it cannot burn cash to grow revenues. The company has said that its cash burn is near zero, the cost of acquiring customers is down 70% compared to last year. Zepto is present in seven cities right now. The startup’s revenues are to the tune of $50-60 mn per month. The startup plans to enter new cities once the existing ones become profitable. <keyword id="12442402" type="General" weightage="50" keywordseo="kaivalya-vohra" source="Orion">Kaivalya Vohra</keyword>, Co-founder &amp; CTO of Zepto, says, “Even with this capital, we want to maintain our discipline, avoid complacency, and push hard to hit EBITDA positivity. In that journey, the biggest drivers of P&amp;L improvement for us are based on technology and product. We are building one of the best supply chain product stacks in the country today and we are investing heavily in customer-facing product as well. This technical excellence is in our DNA, and I’m excited about the next phase of building.”

What Funding Winter? Zepto raises $200 mn to become the first unicorn of 2023

<ul><li>Perfios and Krutrim AI turned unicorns, while Lohum, The Ayurveda, Cureskin and <keyword id="19919709" type="General" weightage="20" keywordseo="hunch" source="keywords">Hunch</keyword> raised chunky investments.</li><li>Many PE and VC funds made a killing in the public markets in 2023, which has fuelled optimism in the private markets, say experts.</li><li>Investors are warming up, say experts who are cautiously optimistic that funding winter which was set in 2022 might thaw this year. </li></ul>The year 2024 has been good for many startups, as deal activity is growing at a faster clip. While the funding winter that set in mid-2022 is far from over, there seems to be a thaw, opine experts. Not only did two companies — Krutrim AI and Perfios — turn unicorns, but many more late-stage deals are being closed at impressive valuations. In the last few weeks, VC investors have been writing checks at a feverish pace. Fintech Perfios raised $80 million and Bhavish Agarwal-backed Krutrim AI raised $50 million — each of these funding rounds valuing them at $1 billion. In all of 2023, only two startups — Zepto and InCred Finance — had turned unicorns. Apart from unicorn activity, there have been other large deals too. Lithium-ion battery pack maker Lohum raised $50 million, while personal care brands The Ayurveda and Cureskin raised $27 million and $20 million, respectively. Social media discovery app Hunch too raised as much as $23 million. Signals of revival The emerging trends could be the beginning of the end of a funding winter, say experts. Pratip <keyword id="20425093" type="General" weightage="20" keywordseo="mazumdar" source="keywords">Mazumdar</keyword>, partner at Inflexor Ventures says that the noticeable uptick seen in March strongly suggests a warming trend in the investment climate. “This observation indicates a possible conclusion to the previously experienced funding winter. The increased deal flow within our purview further corroborates this optimism, signalling a revitalizing market ready for robust investment and growth opportunities,” he adds. Yet, the Indian startup ecosystem has a long way to go. After spectacular startup inflows of $41.6 billion in 2021, the Indian startup ecosystem made a distinct mark in the global economy. However, funds have been sharply dwindling in the last year and a half. The inflows fell to around $25 billion in 2022 and further dipped to a six-year low of $7 billion in 2023 — one-sixth of 2021 figures — as per a Tracxn report. “These are green shoots for India's large and rapidly growing market. However, more sustained venture capital activity and successful exits over a longer period will be needed for a more definitive end to funding winter. And, the recent developments are encouraging, likely a cautious optimism — a start to a full-fledged thaw,” opines <keyword id="20999102" type="General" weightage="20" keywordseo="rajeev-ranka" source="keywords">Rajeev Ranka</keyword>, Partner at Incubate Fund Asia. The exit door opens wide The year 2023 saw the Indian stock market’s bull run, which enthused the primary markets as well. This optimism has flowed into the private markets, explains <keyword id="20999103" type="General" weightage="20" keywordseo="anirudh-a-damani" source="keywords">Anirudh A Damani</keyword>, managing partner at Artha Venture Fund. “There has been a buoyancy in the India story. For one, SME IPOs have picked up, and there has been a lot of upstream fishing which has triggered the pre-IPO rounds — which has spilled over to Series A,” <keyword id="20043640" type="General" weightage="20" keywordseo="damani" source="keywords">Damani</keyword> tells Business Insider India. A lot of high-profile VCs like Softbank, <keyword id="19971306" type="General" weightage="20" keywordseo="tiger-global" source="keywords">Tiger Global</keyword>, Bain and TPG exited many companies<a href="https://www.businessinsider.in/business/startups/news/private-equity-vc-players-make-a-killing-as-ipo-rush-yields-them-10000-crore/articleshow/105649221.cms"> via primary deals</a> (IPOs) as well as <a href="https://www.businessinsider.in/business/startups/news/pe-and-vc-investors-make-a-killing-in-the-2023-bull-market/articleshow/104034840.cms">secondary market (bulk and block deals)</a> in 2023. That’s made the India startup story stronger. “These exit events not only underscored the viability and potential for significant returns in venture investments but also contributed to the stabilization of valuations within the market. This has, in turn, created a more predictable and reliable landscape for investors, fostering an environment where confidence can flourish,” says Mazumdar. Cleanups, not cash burns The funding winter has also been a wake-up call for many companies as well as their investors – especially those commanding premium valuations. Many listed as well as unlisted companies pivoted to profits, reduced cash burn, and re-calibrated growth strategies. Many of them even tightened belts by reducing staff and other costs, and also agreed to participate in downrounds. Downrounds are those where a startup raises funds at a lower valuation than it did in an earlier round. Those startups that managed to survive with little or no fundraising also passed the acid test — and that’s attracting more investors into the game. “Founders who understand the drop in valuations are raising money. Those startups with profitability focus, scalability and are also generating good customer revenues with good reporting practices are in demand,” says Damani. In the funding boom period, many companies which were getting easy money were burning cash at a rate much faster than revenue growth. As funds became scarce, these practices went away and many of them shifted to positive unit economics. According to Ranka, these are signs of a more mature ecosystem. “Overcoming the funding winters, many startups pivoted from growth-at-all-costs to profit-oriented growth, and it helped keep the investors' trust. The period of valuation-correction has led to more realistic valuations, ushering the ecosystem to an investor-focused approach to growth,” he adds. Cautious optimism reigns the ecosystem Many funds had raised a large amount of capital during the pandemic, and after funding winter a lot of them have been sitting on massive amounts as well — referred to as dry powder across the industry. Yet, funds looking to raise more capital might be hit by a slower translation of interest rate cuts across the globe, a few economies slipping into recession and prevailing high inflation across economies. All in all, global funds wouldn’t flow as freely as they did during the pandemic. “Limited partners (LPs) are understandably cautious in the current economic climate. While the potential for global rate cuts is a factor, it's not the sole driver of their sentiment. LPs indicate a focus on understanding the underlying fundamentals of businesses seeking investment. LPs are primarily looking for sustainable growth potential and a focus on long-term value creation,” says Ranka. Here too, there is caution that’s seeping into optimism. “LPs are bullish on India as a market as it’s a rare market exhibiting growth and well poised for delivering good performance as an economy. However they are cautious in picking funds and looking for evidence in terms of past track record,” adds Mazumdar. Even as the system improves, the odds of startup funding getting back to its former glory this year remain very limited. Even if achieved, it could be a long and rocky path. But the signs of revival are here, and the sector only hopes that the reforms of the winter continue to boost the entire ecosystem towards greater heights in the coming quarters.

A 'thaw in startup funding winter' as two unicorns emerge within a quarter

<ul><li>NTPC Green Energy intends to build a renewable portfolio of 60 gigawatts (GW) over the next decade.</li><li>It intends to use the proceeds from the share sale to expand its non-fossil businesses.</li><li>The company’s plans are aligned with the government’s target to cut its net carbon emissions to zero by 2070.</li></ul>India’s largest power producer NTPC is likely to list its green energy subsidiary NTPC Green Energy on the Indian stock exchanges in FY24, after its attempts to bring in an investor fell through. As per reports, NTPC has plans to divest 25% of its green energy arm via a public offering. In March 2023, Malaysia's Petronas had agreed to pay $460 million for a 20% stake in NTPC Green Energy, but it withdrew the bid, as per a Bloomberg report. NTPC’s tender offer last year drew initial interest from 13 companies, including Brookfield Asset Management Inc., Canada Pension Plan Investment Board and Abu Dhabi National Energy Co. Of these, only three companies including Petronas, Indian power lender REC and Indraprastha Gas had put in their final bids. Building a non-fossil business State-owned NTPC is India’s largest power generator with 25 coal fired power plants across the country. However, it plans to expand into non-fossil businesses, fundraising via an IPO will help with this expansion. NTPC has a total commissioned solar power capacity of more than 2 gigawatts. It has put all its renewable energy portfolio under one umbrella entity — NTPC Green Energy by transferring its 15 renewable energy assets. The net worth of the assets is ₹13.65 billion as of 31 March, 2022, which is 1.01% of the net worth of NTPC. NTPC Green sets ambitious targets NTPC Green Energy has set an ambitious target of building a renewable generation portfolio of 60 gigawatts (GW) over the next decade. The company’s plans align with the government’s target to cut net carbon emissions to zero by 2070. India is also aiming to build 500 GW of non-fossil energy capacity by 2030. Last month, NTPC Green Energy signed a joint venture agreement with Indian Oil Corporation to set up renewable energy projects to meet round the clock power requirements of IOCL Refineries. The JV will enable NTPC and IOC to meet the government’s clean energy targets in their respective core businesses. In March, the cabinet committee on economic affairs granted exemption to NTPC to invest more than the prescribed limit in its green energy subsidiary, NTPC Green Energy. “The exemption given to NTPC will aid in improving India’s global image as a green economy. It will also decrease India’s dependency on conventional sources of energy by diversifying India’s energy generation and will also decrease the country’s coal import bills. Further, it will also help in ensuring 24*7 power supply to each and every corner of the country,” said the cabinet committee on economic affairs in a statement. The last public sector company that went public was Life Insurance Corporation (LIC) in 2022. It was also India’s largest IPO which raised as much as ₹21,000 crore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zepto-preps-for-public-listing-in-2-years-brings-in-ramesh-bafna-as-cfo-to-lead-ipo-process/articleshow/99514143.cms">Zepto preps for public listing in 2 years; Brings in Ramesh Bafna as CFO to lead IPO process</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbis-mpc-decisively-in-a-rate-pause-territory-as-inflation-cools-down/articleshow/99497132.cms">RBI's MPC 'decisively' in a rate-pause mode as inflation cools down</a>

All about NTPC Green Energy IPO to be out in FY24

<ul><li><keyword id="2407038" type="General" weightage="100" keywordseo="dmart" source="Orion">DMart</keyword> is a well-known name thanks to its big discounts and wide availability of products from names big and small. </li><li>Despite its aggressive store expansion over the last few quarters, the company’s growth momentum has been impacted by high inflation and Covid disruptions. </li><li>It is also staring at cutthroat competition from quick commerce players who prioritize 10-30 minute deliveries over discounts and have hundred million dollar fundraise to bank on. </li></ul><keyword id="6505089" type="General" weightage="50" keywordseo="radhakishan-damani" source="Orion">Radhakishan Damani</keyword>’s DMart managed to get by in the pandemic, but 2022 has not been kind to the company. Analysts are cautiously optimistic about the company’s future, and the first disruption-free quarter in the last two years could be exactly what its investors need. DMart’s shares have been hammered on the stock exchanges, with a decline of over 17% in 2022 so far. However, it has seen a massive rebound in the last five days, with its shares surging over 12%. <div type="image" title="Dmart 01_04_22 to 08_07_22." msid="92747914" hostid="261" sizebytes="24252" caption="&amp;lt;p&amp;gt;DMart share price in FY23 so far&amp;lt;/p&amp;gt;"></div> DMart has seen a rapid expansion over the last few years – both in terms of brand recall and physical presence – going from just another retail chain to one of the best performing ones. It gained even more prominence thanks to the collapse of Big Bazaar. However, high inflation and recession fears could play spoilsport in DMart’s efforts to stage a comeback after two years of Covid-related disruptions. The retail chain also accelerated its offline presence this quarter by adding 10 new outlets, on track to reach its target of 40 new stores by the end of FY23. <cmsannotation type="cmsannotation" annotationid="Despite the rebound, DMart remains skeptical of its future projections" comment="subhead" text="Despite the rebound, DMart remains skeptical of its future projections">Despite the rebound, DMart remains skeptical of its future projections</cmsannotation> In its March earnings earlier this year, the retail chain said it would need at least two quarters of disruption-free operations to confidently say if there is a recovery in demand. “We would be able to give that qualitative interpretation only if there are no more Covid-19 shutdowns or restrictions over at least two more quarters,” the company said in the March update. While inflation has continued to be a thorn in the side of most companies over the last few months, DMart has somewhat managed to counter this by opening new stores. Same-store sales growth, seasonal demand for stationery due to re-opening of schools and new stores were the reasons behind DMart’s revenue growth this quarter, according to a report by Kotak Institutional Equities. Despite this, the report was bearish on DMart’s prospects, giving a ‘reduce’ recommendation to investors. <cmsannotation type="cmsannotation" annotationid="Revenue still not back to pre-Covid levels" comment="subhead" text="Revenue still not back to pre-Covid levels">Revenue still not back to pre-Covid levels</cmsannotation> Another interesting metric is the fact that DMart has still not managed to recover completely from the Covid pandemic. A report by ICICI Securities states that DMart’s revenue per square feet is expected to be around ₹8,100 – this is still only 90% of its pre-Covid levels. In absolute terms, the retail chain has managed to report a growth in revenue, but adjusting it to the store space shows there is still some way to go for DMart. <cmsannotation type="cmsannotation" annotationid="Keeping up with the Dunzos and Instamarts" comment="subhead" text="Keeping up with the Dunzos and Instamarts">Keeping up with the Dunzos and Instamarts</cmsannotation> How could grocery shopping be left behind in an era of instant gratification? Covid not only changed work cultures and made WFH acceptable, it has also led to new-age startups like Dunzo, Swiggy, Zepto, Blinkit and others to offer 10–30-minute deliveries. And retail chains like DMart and JioMart can’t keep up – not for the lack of trying, but because these are still old businesses with an offline-first approach. Nonetheless, DMart has made an attempt at expanding its online presence, but analysts think this will eat into its margins. “Growth momentum to be impacted by slowdown and high inflation while margins to be under pressure led by operating cost of <keyword id="9012742" type="General" weightage="20" keywordseo="dmart-ready" source="Orion">DMart Ready</keyword> business and inferior mix due to high inflation,” stated a report by Yes Securities. DMart Ready is the retail chain’s attempt at offering online buying options to its customers. DMart initially offered online buying only in Mumbai, but expanded it to cities like Hyderabad, Pune, Delhi and several others during the first Covid lockdown in 2020. With quick commerce players like Swiggy, Zomato, Zepto and Dunzo pouring hundreds of millions of dollars into their instant delivery businesses – even Reliance has plowed in $200 million in Dunzo – DMart’s task is cut out. Will DMart’s rivals do to it what it did to the small kirana stores, or if DMart is Ready enough to take them head on will be interesting to see. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/why-investors-are-giving-mm-and-tata-motors-ev-businesses-the-same-value/articleshow/92742893.cms">Tata Motors sells 100x more EVs than M&amp;M – but both are valued at around $9 billion</a> <a href="https://www.businessinsider.in/stock-market/news/cooling-crude-oil-prices-companies-in-these-sectors-could-benefit-the-most/articleshow/92738107.cms">Cooling crude oil prices – companies in these sectors could benefit the most</a> <a href="https://www.businessinsider.in/stock-market/news/gone-with-the-windfall-tax-ongc-loses-a-fifth-of-its-market-value/articleshow/92721451.cms">Gone with the windfall tax: ONGC loses a fifth of its market value</a>

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Zepto raises USD 665 million; Valuation nearly triples to USD 3.6 billion

PTI

Zepto CEO compares his startup to Amazon, says it can be worth 80 billion if things go right

Divyanshi Sharma

Zepto appoints Ankit Agarwal as chief product officer to drive innovation in fulfilment

BI India Bureau

What Funding Winter? Zepto raises $200 mn to become the first unicorn of 2023

Malini Bhupta

A 'thaw in startup funding winter' as two unicorns emerge within a quarter

Katya Naidu

All about NTPC Green Energy IPO to be out in FY24

Bhakti Makwana

DMart has more stores and no disruptions like it wanted – and investors are excited

Rounak Jain

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