AADIT PALICHA
American woman amazed by Bengaluru’s jaw-dropping late-night delivery game; Zepto joins the fun
An American woman’s amazement at Bengaluru’s lightning-fast late-night delivery—getting cake at 11 pm in under 20 minutes—has gone viral, spotlighting India’s quick-commerce culture. Her reel, viewed over 3.9 million times, sparked hilarious stories from netizens, from PS5s to midnight fans. Even Zepto chimed in, calling it one of India’s “little surprises.” Convenience, it seems, never sleeps here.
Snapdeal’s Kunal Bahl defends startup cash burn—if it builds long-term value
Kunal Bahl, cofounder of Snapdeal, defended startup cash burn, emphasising that strategic investments in technology and customer acquisition contribute to long-term value creation, even if not traditional capital expenditure. Speaking at the TiE Delhi NCR iDay, he compared it to early investments in industries like steel. His firm, Titan Capital, recently raised Rs 333 crore for a fund focused on backing early-stage startups with clear growth strategies.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
“Will grow Blinkit’s market share aggressively”: Eternal CFO Akshant Goyal
During the January-March quarter Blinkit added 294 dark stores taking the total count of these micro-warehouses from where 10-minute deliveries are made to 1,301. It aims to have 2,000 dark stores by December 2025. On an annualised basis, Blinkit’s GOV run rate stood at $4.4 billion. Its rival Zepto’s annualised GOV run rate has neared $4 billion, founder and CEO Aadit Palicha had said on April 9.
Inside Reliance Retail’s reboot to 30-minute quick commerce
The retail arm of Reliance Industries helped the conglomerate post steady results for the March quarter, even as Jio Platforms missed expectations and the oil-to-chemicals vertical delivered in-line performance. Reliance Retail Ventures' net revenue for the period jumped 16% to Rs 78,622 crore, while segment profit increased 30% to Rs 3,519 crore.
Dailyhunt parent faces audit heat; Go Digit Q4 results
Audit firm Deloitte has raised multiple red flags over Dailyhunt parent’s internal controls. This and more in today’s ETtech Top 5.
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ETtech Explainer: Why Zepto founders are taking personal debt to boost Indian ownership
Zepto's cofounders, Aadit Palicha and Kaivalya Vohra, are securing personal debt of Rs 1,500 crore to increase their stake by purchasing shares from foreign investors before the quick commerce player files for IPO. Edelweiss Alternative Asset is expected to anchor the deal. ETtech explains why the promoters are planning to raise debt ahead of the listing, and the broader picture.
Zepto founders tap Edelweiss, others for Rs 1,500 crore structured debt to boost Indian ownership
Zepto founders Aadit Palicha and Kaivalya Vohra are raising about Rs 1,500 crore through structured debt to boost Indian ownership ahead of the company’s planned IPO, people familiar with the matter told us. Edelweiss Alternative Asset is anchoring the deal alongside domestic family offices and smaller credit funds. The loan carries a minimum interest rate of 16%, with an equity-linked upside pushing total returns closer to 18%.
Zepto founders’ debt; Rapido’s food delivery ride
Happy Monday! Zepto founders are raising funds through structured debt ahead of the company’s IPO. This and more in today’s ETtech Morning Dispatch.
Zepto CEO Aadit Palicha walks back 'work-life' jab, calls it a 'stupid idea', claims startup culture isn't for everyone
Zepto CEO Aadit Palicha has publicly acknowledged his controversial 2024 post on work-life balance as a "stupid idea," amidst criticism of the company's intense work culture. In a recent podcast with Y Combinator's Garry Tan, Palicha discussed the challenges Zepto faced during the 2022–2023 funding crisis, including hiring missteps and the Silicon Valley Bank collapse. He emphasized the company's execution-focused environment, noting it's tailored for highly ambitious individuals. Palicha also urged Indian startups to adopt a more ambitious mindset to achieve global success.
Work-life balance: Zepto CEO Aadit Palicha says company's fast paced culture not for everyone
Amid the ongoing work-life balance debate, Palicha made headlines for the wrong reasons last years with his tweet: "Nothing against work-life balance. In fact, I recommend it to all our competitors." In a recent interview with Y Combinator’s Garry Tan, he said join Zepto if you're looking to do the best work of your life.
India, Indonesia not kind to cloud kitchens, says Uber cofounder Travis Kalanick
In conversation with investor Peter Diamandis at the 2025 Moonshot Summit, former Uber CEO and cofounder Travis Kalanick said he went into markets he shouldn't have. "Just so happens, you can't make money on [cloud] kitchens in India," he said, adding that Indonesia and Columbia are to be avoided as well.
Until we can match Amazon or DoorDash, we haven’t won: Zepto CEO Aadit Palicha
Zepto CEO Aadit Palicha says the company is “not even close” to success, aiming to rival global giants like Amazon over the next 20–30 years. As Zepto readies for its IPO, it reports rapid growth and a $4 billion GOV, but faces stiff competition from Blinkit and Instamart in India’s fiercely competitive quick-commerce market.
Rapid delivery was a response to consumer feedback, not a marketing gimmick: Zepto CEO Aadit Palicha
Zepto’s rapid delivery model emerged from consumer demand, not marketing. CEO Aadit Palicha said early customer complaints about delays drove the shift. Pivoting from a failing pickup service, Zepto embraced quick commerce, matching India’s urban needs. Competing fiercely with Blinkit and Instamart, the startup eyes 2025 for mainstream impact, emphasizing operational excellence and top talent.
‘We almost died’: Zepto CEO Aadit Palicha reflects on Silicon Valley Bank crisis
Zepto had operational funds stuck in SVB at the height of the crisis, along with many other Y Combinator-backed startups. According to a WhatsApp poll reported by ET, at least 40 Indian startups backed by YC had between $250,000 and $1 million in SVB, while over 20 startups had deposits exceeding $1 million—leaving them dangerously exposed.
Gensol, BluSmart unravel; IT hiring to slow down
Happy Thursday! Gensol promoter Anmol Singh Jaggi and BharatPe cofounder Ashneer Grover have a history of investment dealings. This and more in today’s ETtech Morning Dispatch.
Zepto drops Kiranakart tag in rebranding exercise
The move comes when Zepto is planning to file its draft papers for an IPO by the end of April. The IPO size is estimated at between $800 million and $1 billion, including secondaries. The quick commerce player is aiming to achieve operational profitability by March 2026.
Zepto's Aadit Palicha, Mohandas Pai react to Piyush Goyal's comments on Indian startups
Piyush Goyal urged Indian startups to shift focus from food delivery apps to high-tech sectors like AI and robotics. His remarks sparked responses from Zepto’s Aadit Palicha and Mohandas Pai, who defended India’s startup ecosystem and questioned government support for deep-tech innovations.
'Not a truth bomb, but an appeal': Piyush Goyal hits back at startups' founders, says he was 'trying to show them the mirror'
Commerce Minister Piyush Goyal on Wednesday defended his remarks on India's startup ecosystem, clarifying that his intention was to encourage more ambitious innovation. Addressing backlash, he stated that his comments were aimed at pushing the sector beyond consumer-facing apps like food delivery, urging startups to aim for global technological leadership.
Apple’s India hedge; Zepto’s order value swells
Apple’s iPhones led India’s smartphone exports in FY25 to a record Rs 2 lakh crore. This and more in today’s ETtech Top 5.
Zepto nears $4 billion annualised gross order value, halves burn rate
Zepto CEO Aadit Palicha announced that the company is nearing $4 billion in annualised gross order value (GOV), reflecting 300% year-on-year growth. The company has also reduced its EBITDA and operating cash flow burn by 50%. ET had reported earlier that Zepto is in talks for a $250 million secondary equity sale ahead of its public listing.
Aman Gupta sides with Piyush Goyal's comments on Indian startups to focus on deep tech
Aman Gupta, boAt co-founder, supports Minister Piyush Goyal's call for Indian startups to focus on deep-tech innovation. Amidst debate, Gupta agrees with shifting focus from consumer-centric models like food delivery to technologies such as AI and robotics. He acknowledges the need for high-tech advancements for India to compete globally and achieve its aspirations.
Founders react to Piyush Goyal's critique of India's startups: Who said what?
Piyush Goyal’s comments, seen as a call for deeper innovation in areas like semiconductors rather than consumer-facing sectors like food delivery or boutique D2C brands, drew mixed responses from industry leaders and the public. Some backed his viewpoint, while others pushed back.
Semiconductor founder hits back at Piyush Goyal’s ‘ice cream or chips’ remark
The Reddit post has resonated across the startup community, with many users commenting in support and sharing similar stories of red tape, bureaucratic apathy, and the lack of access to government contracts or ecosystem support for core technology ventures.
Startup Mahakumbh organisers spreading Chinese propaganda against India: Mohandas Pai
A chart titled "India vs China" sparked significant discussion and criticism due to the data it showcased. Union commerce and industry minister Piyush Goyal’s comment on Indian startups drew sharp responses from the former Infosys CFO, Zepto CEO Aadit Palicha and Shaadi.com founder and Shark Tank India judge Anupam Mittal.
Ola’s Bhavish Aggarwal backs Piyush Goyal’s call for deeper tech innovation
However, several founders and investors reacted to the minister’s remarks and took to social media to defend the sector. Asking Goyal not to “belittle” startups, former Infosys CFO and investor Mohandas Pai said China invested $845 billion in startups between 2014 and 2024, compared to $160 billion in India in the same period.
Mindless reels, quick money via gambling, no innovation? Piyush Goyal lists 5 reasons why India’s startups are losing their way
At the Startup Mahakumbh, Commerce Minister Piyush Goyal voiced concern over the direction of India’s startup ecosystem, contrasting it with China’s focus on deep-tech innovation. He called on entrepreneurs to pursue globally relevant ventures and move beyond instant delivery services. His sharp remarks, however, drew criticism from startup leaders including Zepto’s Aadit Palicha and former Infosys director Mohandas Pai, who questioned the government's support for deep-tech growth and urged collaboration instead of criticism.
Why India still doesn’t not have its own ChatGPT or DeepSeek? Zepto CEO, a Stanford dropout, explains
Chinese startup DeepSeek's launch of its low-cost R1 large language model has sparked questions about India's lagging AI innovation. Zepto CEO Aadit Palicha attributes India's struggle to the absence of large, profitable internet companies, emphasizing the need for innovative, capital-generating enterprise to drive India's tech future.
Zepto CEO Aadit Palicha responds to Piyush Goyal's 'delivery boys' jibe: 'We employed 1.5 lakh people'
Union Commerce Minister Piyush Goyal's comments at the Startup Mahakumbh 2025, questioning India's technological aspirations, drew mixed reactions. Zepto CEO Aadit Palicha defended the impact of consumer internet startups, emphasizing their contributions to employment, economic growth, and technological advancements.
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