ZILO has raised $15.3 million (Rs 140 crore) in a Series A funding round led by Peak XV Partners, which invested $8 million. Existing investors InfoEdge Ventures and Chiratae Ventures participated with $2.5 million each.
The round also saw participation from Alteria Capital and Stride Ventures, along with angel investors including Lalit Keshre of Groww, Kunal Shah of CRED, Sachin Oswal, Ayyappan R, Abhishek Bansal, Sreevathsa Prabhakar, and Preeta Sukhtankar.
Earlier in June last year, ZILO had secured $4.5 million in seed funding led by Info Edge Ventures and Chiratae Ventures.
The proceeds will be used to scale operations, invest in technology, expand to new markets, and strengthen its supply chain. It currently operates in Mumbai and plans to expand to additional cities over the next 12–14 months.
Co-founded by former Flipkart and Myntra executives Padmakumar Pal and Bhavik Jhaveri, ZILO operates a fashion quick commerce platform offering apparel delivery within 60 minutes.
The brand works with more than 200 brands and offers features such as home trials and instant returns. It follows a vertically integrated model combining dark stores and brand outlets to manage inventory and delivery timelines.
Recently, Mumbai-based quick commerce fashion platform KNOT raised $5 million in a new funding round led by 12 Flags. Zilo also competes with Slikk and Myntra, which has expanded its quick fashion delivery offering to additional cities.
