Fashion quick commerce start-up ZILO has raised US $ 15.3 million in a Series A funding round led by Peak XV Partners, which contributed US $ 8 million. Existing investors Info Edge Ventures and Chiratae Ventures also participated, investing US $ 2.5 million each.
The round additionally saw participation from Alteria Capital and Stride Ventures, along with several angel investors, including Lalit Keshre of Groww, Kunal Shah of CRED, Sachin Oswal, Ayyappan R, Abhishek Bansal, Sreevathsa Prabhakar and Preeta Sukhtankar.
The fundraise follows a US $ 4.5 million seed round secured by the company in June last year, which was led by Info Edge Ventures and Chiratae Ventures.
ZILO said the fresh capital would be used to scale its operations, strengthen its technology platform, expand into new markets and further develop its supply chain capabilities. The company currently operates in Mumbai and plans to expand to additional cities over the next 12 to 14 months.
Founded by former Flipkart and Myntra executives Padmakumar Pal and Bhavik Jhaveri, ZILO runs a fashion-focused quick commerce platform that offers delivery of apparel within 60 minutes. The platform works with more than 200 fashion brands and provides services such as home trials and instant returns.
The company follows a vertically integrated operating model that combines dark stores with brand outlets, enabling tighter control over inventory management and delivery timelines.
ZILO operates in an increasingly competitive segment of the market. Recently, Mumbai-based fashion quick commerce platform KNOT raised US $ 5 million in a funding round led by 12 Flags, while Myntra has also expanded its rapid fashion delivery offering to more cities. ZILO also competes with other players such as Slikk as competition intensifies in the fast-growing quick commerce fashion space.
