Ecommerce News

Quick-commerce firm Zepto elevates Nikhil Mittal to chief technology officer, ET Retail

Nikhil Mittal, CTO, Zepto

Quick-commerce platform Zepto on Wednesday named Nikhil Mittal its chief technology officer, elevating him from the role of senior vice president of engineering.

Mittal, who joined Zepto as its first employee more than two years ago, will now head the company’s over 200-member engineering team and be responsible for scaling it up.

The Mumbai-based startup had recently raised $31.25 million in a fresh funding round from existing investors such as Goodwater Capital and Nexus Venture Partners.

Founded in 2021 by two Stanford dropouts, Aadit Palicha and Kaivalya Vohra, the startup became a unicorn — the first in 2023 — with a valuation of $1.4 billion when it raised $200 million last August.

“Nikhil himself from scratch helped to build our engineering team and got the first infrastructure built out. The first version of the (Zepto) app was built out by Nikhil along with Kaivalya. Since then, he has scaled himself and now is in a position where he can manage a team of 200 people,” Palicha, who is also Zepto’s chief executive, told ET.

Three months ago, Zepto had elevated its senior vice president of product, Ankit Agarwal, to the role of chief product officer.

Zepto had witnessed a series of top-level exits last year, including chief marketing officer Amritansu Nanda who departed after a two-year tenure, engineering head Yash Dayal and chief financial officer Jitendra Nagpal.

“We want to consolidate everything under Kaivalya, so that it will be much more seamless between engineering, product, analytics, data science and now we have got strong leaders in all functions,” Palicha said.

Mittal, Agarwal, and the analytics and data science team will be reporting directly to Vohra.

Zepto has around 1,300 employees and is planning to launch more dark stores in metro cities like Mumbai, Bengaluru, the National Capital Region and Kolkata. The company is looking to achieve profitability in 2024, Palicha said.

Swiggy’s Instamart, BigBasket’s BB Now, Zomato’s Blinkit and Reliance Retail-backed Dunzo are Zepto’s main competitors in the quick-commerce space.

  • Published On Jan 25, 2024 at 08:26 AM IST

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