Kaivalya Vohra, the 19-year-old co-founder and CTO of grocery delivery start-up Zepto is the youngest individual to make it to the richest Indians list released by the research firm Hurun India, in partnership with the wealth management firm, IIFL Wealth.
Aadit Palicha and Vohra, who co-founded Mumbai-based Zepto in 2020, are also the youngest start-up founders in Hurun India’s Hurun India Future Unicorn Index 2022 list. The Stanford dropouts started the company after they failed to get groceries in their area during the COVID-19 pandemic-induced lockdown. Vohra’s wealth stands at Rs 1,000 crore.
Formerly known as Kiranakart, Zepto’s unique selling point became its quick and contactless delivery of groceries in just 10 minutes.
In the same list, billionaire Gautam Adani has topped the list with a net-worth of Rs 10,94,400 crore beating Reliance's Mukesh Ambani. This list contains individuals residing or born and bred in India. This is the 11th annual ranking of the richest individuals in India. The wealth calculations are a snapshot as of August 30, 2022.
The Hurun-IIFL Wealth list also revealed that about 100 start-up founders from 59 start-ups, with an average age of 40 and clocking a cumulative wealth of Rs 5,06,000 crore, feature in this list.
Apart from Vohra, Alakh Pandey, who is popularly known as ‘Physicswallah’ and is the co-founder of the newly turned unicorn by the same name, debuted on the list ranking at 399 with a total wealth of Rs 4,000 crore.
While launching the list, Anas Rahman Junaid, MD, and Chief Researcher, Hurun India, said, “India’s bench strength or the pipeline of entrepreneurs can be understood best from the start-up ecosystem, which is the third largest in the world with more than 80,000 start-ups. It has the third-highest number of Unicorns and Gazelles in the world.”
He also added that the IPOs of some of the high-profile start-ups have played a role in realigning the valuation spread between institutional and retail investors. According to Junaid, wealth creation from start-ups will continue in the coming times but with “new rules in the game”
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