New Delhi: Unicorn quick-commerce firm Zepto is working on plans to shift the majority of its employee base as well as its headquarters to Bengaluru, sources aware of the development said.
Zepto headquarters currently operates from the premises of co-working space provider WeWork at Jogeshwari in Andheri East.
According to a source, who did not wish to be identified, WeWork is moving out from the Jogeshwari building which triggered Zepto's decision to move headquarters to Bengaluru.
"Zepto already has over 700 people in Bangalore. We are in the process of hiring 400 new employees to whom we have given the option to relocate to Bangalore. The company is currently in discussion with employees who want to move to Bangalore and assessing how many will stay back in Mumbai. However, the headquarters will now move to Bangalore where one of the founders Kaivalya Vohra was based," the source said.
In June, Zepto raised $665 million (about Rs 5,560 crore) in the latest funding round that valued the firm at $3.6 billion, almost triple what it was a year back.
Zepto Co-founder Aadit Palicha operated from Mumbai but frequented between Bangalore and Mumbai.
"Technology team has been based out of Bangalore. Zepto is moving the majority of the product team to Bangalore. Large part of the operations team will continue to be in Mumbai," the source said.
Zepto is looking to expand its existing office space in Bengaluru and also looking for a new space close by.
"Zepto is looking at a total of 1,800-2000 seating capacity in Bangalore closer to the existing office," another source said.
The company will provide relocation support like travel, brokerage for new accommodation, hotel stay, school admission support for staff kids. Zepto has given six months time to employees who want to move to Bangalore.
"The transition to Bangalore will start from November-December and it will be fully operational in the first quarter of 2025," the source said.
Published 06 August 2024, 20:09 IST