ZILO, a fashion quick-commerce startup, has raised $15.3 million (around ₹140 crore) in a Series A funding round led by Peak XV Partners, which invested $8 million.
Existing investors InfoEdge Ventures and Chiratae Ventures also participated again, investing $2.5 million each. Other investors in the round included Alteria Capital, Stride Ventures, and several well-known angel investors from the startup and consumer internet space, such as Lalit Keshre (Groww), Kunal Shah (CRED), Sachin Oswal (Originity), Ayyappan R (FirstClub), Abhishek Bansal (Shadowfax), Sreevathsa Prabhakar (Servify), and Preeta Sukhtankar (Foxtale and Luma Fertility).
ZILO plans to use the new funding to expand its operations, improve its technology, strengthen its brand, and grow into new markets beyond where it currently operates.
“This round is a strong validation of our belief that fashion and speed don’t have to be trade-offs. With the backing of all our existing partners, and the creative leadership of Anaita, we’re building a new category where curated fashion meets the immediacy customers now expect. The capital will help us scale thoughtfully, deepen our tech and deliver a truly elevated fashion experience at quick-commerce speed” said Padmakumar Pal, Co-founder & CEO, ZILO.
Kriti Gupta, Vice President at Peak XV Partners added, “We believe the preferences of Indian customers are evolving quickly and fashion continues to be shopped the same way. ZILO has the potential to transform the customer experience and build a category defining platform.”
ZILO was founded by former Flipkart and Myntra executives Padmakumar Pal and Bhavik Jhaveri. The startup runs a fashion quick-commerce platform that delivers clothing to customers within 60 minutes.
ZILO works with more than 200 fashion brands and offers features like home trials and instant returns. It follows a vertically integrated model, using a mix of dark stores and brand outlets to manage inventory and ensure fast deliveries.
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