Zepto rebrands parent company ahead of IPO: Check new name
What's the story
Quick commerce platform Zepto has officially changed its parent company's name from Kiranacart Technologies Private Limited to Zepto Technologies Private Limited.
This strategic rebranding initiative aims to enhance brand recognition and improve recall among consumers as the company gears up for its anticipated Initial Public Offering (IPO).
The change has been approved by the Mumbai-based Registrar of Companies (RoC).
Rebranding trend
Zepto joins other companies in rebranding
Zepto's rebranding isn't an isolated case, as other companies have also changed their names to reflect their core offerings and improve brand recall.
For example, Swiggy, a major player in the food and grocery delivery space, changed its name from Bundl Technologies Private Limited to Swiggy Private Limited ahead of its IPO in February 2024.
This trend highlights the need for a name that resonates with a company's primary services.
IPO preparations
Zepto prepares for public market debut
As part of its preparations for a public market debut, Zepto has also made some major changes within its organization.
The company recently appointed Akhil Gupta, Vice Chairman of Bharti Enterprises (the parent company of Bharti Airtel), to its board.
Other board members include Aadit Palicha and Kaivalya Vohra (co-founders), Anu Hariharan (Avra founder), and Suvir Sujan (Nexus Venture Partners co-founder and Managing Director).
Financial strategy
Zepto's fundraising efforts and future plans
Ahead of its IPO, Zepto has brought its base back to India from Singapore and is raising funds aggressively.
In the last five months, the company has raised $1.35 billion, with major contributions from Glade Brook Capital, Nexus Venture Partners, General Catalyst, Motilal Oswal and others.
Valued at around $5 billion (approx. ₹33,000 crore), Zepto is also in talks with top mutual fund houses to raise another $300 million in a secondary round of funding.