Zippee: India’s #1 Quick Commerce Logistics for Brands | Ep27 The India Opportunity Show | Madhav Kasturia ft Shrishti Sahu
Growing 3.5x year on year, at a 40 Crore ARR - just closed an oversubscribed Series A round!
Hello everyone, welcome to The India Opportunity Show where you get a front-row seat to people building India’s future. We talk about unlocking the potential of the country with founders, investors, creators, and successful leaders from different fields to bring you real-life stories and behind-the-scenes of what it takes to be at the forefront of building the India Story.
The 27th episode of The India Opportunity Show is out now! You can watch it on Youtube or listen to it on Spotify or Apple Podcasts.
Our guest today is Madhav, the founder of Zippee, a quick logistics player that helps with same day deliveries for consumer brands through their dark store network. Zippee has seen rapid growth, on track to close the year at 40 Crores with 130+ brands using Zippee’s platform to boost sales and deliver a delightful customer experience. Madhav started Zippee after running a cloud kitchen business that scaled well but got impacted during the pandemic. In just the last 3 years, he’s been able to show rapid growth with Zippee and has just closed their oversubscribed Series A round. We’re fortunate to see this journey up close as investors in the company via SSV and very excited to do a deep dive with Madhav today into the world of logistics and how’s its changing. We will talk about the logistics space, some legacy players and how quick commerce has caused a big shift in consumer behaviour. For anyone building a consumer brand or a D2C enablement company, this episode captures a lot of deep insights about the industry!
Takeaways
Starting a cloud kitchen business provided valuable learnings for building Zippy, including the importance of being full-time in the business and not relying on long-term plans.
The logistics space in India is evolving, with the rise of quick commerce players and a focus on faster deliveries to meet changing consumer behavior.
Zippy's pitch to consumer brands focuses on improving key metrics such as delivery time, RTO rates, abandoned carts, web conversions, and CS scores.
Zippy has successfully onboarded a wide range of consumer brands across sectors, including food, beverage, beauty, personal care, baby care, pet care, and Ayurveda.
Operational efficiency is a key focus for Zippy, with metrics such as revenue per square feet, orders per square feet, capacity utilization, and rider efficiency being monitored.
Zippy has raised funding from a mix of investors, including family offices and institutional investors, who are aligned with the long-term vision of the business.
Strategic learnings from fundraising include targeting investors who align with the business's thesis, being patient in the fundraising journey, and not giving up after initial rejections. Building a team with an open mind and unlearning biases is crucial for success.
Hire for DNA fit and values, and train for skill.
Go with your asks and extract value from your investors.
Show up every day and take risks while staying focused on short-term goals.
Zippy aims to close a 40 CR balance sheet this year and has been growing 3.5x year on year.
Chapters
00:00 Madhav Kasturia's Journey: Cloud Kitchen to Hyperlocal Delivery
04:29 Adapting to Changing Consumer Behavior in the Logistics Space
09:09 Pitching to Consumer Brands: Zippee's Value Proposition
14:49 Operational Efficiency: Key Metrics for Zippee
19:02 Fundraising Insights: Lessons from Madhav Kasturia
25:14 Strategic Learnings for Fundraising Success
27:06 Unlearning Biases and Hiring for DNA Fit
30:18 Short-Term Goals and Avoiding Long-Term Planning
37:20 Extracting Value from Investors
40:11 Differentiating from Quick Commerce
44:09 Customer to Investor Conversion
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Follow Madhav here: Linkedin
Follow Shrishti here: LinkedIn Twitter
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Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered financial advice. Viewers are encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.