Quick commerce platform Zepto has appointed Ankit Agarwal as its Chief Product Officer (CPO) in a move aimed at driving innovation in fulfilment. Agarwal’s extensive experience in product development, gained from companies like Flipkart, Delhivery, and Infra.Market, positions him well to lead Zepto’s product and technology innovation efforts.

Ankit Agarwal’s Vision

Agarwal expressed his enthusiasm about joining Zepto, emphasizing the company’s commitment to setting trends rather than following them. He sees Zepto as a revolutionary force in the Indian commerce landscape and looks forward to contributing to its transformative journey.

End-to-End Ownership

Having joined Zepto in August 2022 as Senior Vice President of Product, Agarwal initially led the fulfilment charter, focusing on supply chain, last-mile delivery, and finance technology. With his elevation to CPO, Agarwal now assumes responsibility for the entire product lifecycle, from consumer experience to supply chain management and last-mile delivery.

Zepto’s Unicorn Status

Zepto recently achieved unicorn status after securing $200 million in a Series E funding round, valuing the company at $1.4 billion. This funding round, primarily aimed at strengthening Zepto’s capital base, attracted new investors such as StepStone Group and Goodwater Capital, along with significant reinvestment from existing backers like Nexus Venture Partners and Glade Brook Capital.

Growth Trajectory

Founded just two years ago by two teenagers, Zepto has swiftly risen to prominence in India’s startup ecosystem. The company’s focus on quick commerce has resonated with investors, leading to its unicorn status. Looking ahead, Zepto aims to leverage its enhanced capital base to fuel further growth and potentially pursue a listing in 2025.

Conclusion

With Ankit Agarwal assuming the role of Chief Product Officer, Zepto is poised to accelerate its innovation in fulfilment and consolidate its position as a leader in India’s quick commerce segment. The company’s unicorn status and strategic funding underscore its growth trajectory and commitment to delivering value to customers and stakeholders alike.