Nikhil Mittal Promoted to Chief Technology Officer (CTO) at Zepto, the Rapid Commerce Unicorn

25 Jan 2024 , 11:27 AM

Nikhil Mittal has been promoted to Chief Technology Officer (CTO) from Senior Vice President (SVP) of Engineering at Zepto, the unicorn in rapid commerce, the firm said in a press statement on January 24. According to his LinkedIn page, Mittal joined Zepto as its first employee and has been there since the company’s founding in February 2021.

Mittal’s co-founder Kaivalya Vohra will be his subordinate in his new position. Vohra, who served as CTO before to Mittal’s promotion, will also be the boss of Chief Product Officer Ankit Agarwal as well as the Analytics and Data Science team.

Co-founder Vohra remarked, ‘Nikhil has built out a high performing engineering team from scratch in an unbelievably short period of time and with frugality. More importantly, he has scaled himself to be an exceptional leader.’

During the epidemic in 2020, Vohra and Aadit Palicha founded Zepto as KiranaKart.

‘It still seems like Day 1—I had the honour of witnessing Zepto grow from nothing to thousands of crores when I joined,” Mittal remarked.

In anticipation of a projected IPO, Zepto fortified its top deck and made further appointments last year. Ankit Agarwal went from being the SVP of Product to the CPO position in September 2023. Prior to that, Viral Jhaveri was named Zepto’s Chief Growth Officer in May 2023, following nearly two years as the company’s Chief Business Officer (CBO).

In a similar vein, Vinay Dhanani, who was formerly the COO, was promoted to President of the supply chain division. Vikas Sharma, who joined the quick-commerce company as the lead of central and city operations, later took over Dhanani’s previous role as COO.

In 2023, Zepto, a company based in Mumbai, became the first unicorn to be created in India. Its rivals include Tata’s BigBasket (BB Now), Reliance-funded Dunzo, Swiggy Instamart, and Blinkit, which is owned by Zomato.

It was previously valued at $1.4 billion and has attracted close to $600 million from investors including Y Combinator, Goodwater Capital, Nexus VP, the StepStone Group, and several more.

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