Fashion quick commerce startup ZILO raises $15.3 million led by Peak XV

Fashion quick-commerce startup ZILO has raised $15.3 million (around ₹140 crore) in a Series A funding round led by Peak XV Partners, marking one of the larger early-stage bets in India’s emerging vertical quick-commerce space. For Peak XV, this marks its second bet—but first multi-million dollar investment in quick commerce after a small $500,000 seed round investment in 2014 in Blinkit, formerly Grofers.

Peak XV invested $8 million in the round, while existing backers InfoEdge Ventures and Chiratae Ventures participated with $2.5 million each, doubling down on their earlier investments. Venture debt firms Alteria Capital and Stride Ventures also joined the round, along with a group of angel investors that includes founders and senior executives from India’s consumer internet ecosystem. The company did not disclose its valuation; with this round, ZILO’s cumulative funding since inception stands at $15.3 million.

Betting on speed in fashion

Founded by former Flipkart and Myntra executives Padmakumar Pal and Bhavik Jhaveri, ZILO operates at the intersection of fashion and instant delivery—an area where scale has proven harder to crack than in grocery or food. The Mumbai-based startup promises delivery of fashion products from over 200 brands within 60 minutes, alongside services such as home trials and instant returns.

The fundraise follows ZILO’s recent partnership with celebrity stylist and fashion editor Anaita Shroff Adajania, who has joined the company as style director and equity partner. The move signals ZILO’s emphasis on curation and editorial-led discovery, rather than pure assortment-led browsing that dominates most online fashion platforms.

ZILO said the fresh capital will be deployed towards scaling operations, brand building, technology investments, and expansion into new markets, while strengthening its core presence in Mumbai. The company is also looking to build a vertically integrated supply chain tailored to fast fashion fulfilment, combining dark stores with select brand outlets.

“Fashion and speed don’t have to be trade-offs,” said Padmakumar Pal, Co-founder and CEO, adding that the focus is on building a new category where curated fashion meets quick-commerce expectations. Co-founder Bhavik Jhaveri said the platform aims to reduce “endless scrolling” by offering tightly edited selections, expert styling, and faster fulfilment.

Investors test a vertical quick-commerce playbook

Investors see ZILO as an early attempt to create a category-defining model in fashion quick commerce, a segment still searching for a scalable playbook. While quick commerce has seen explosive growth in groceries and daily essentials, fashion has remained largely offline-led, with delivery speed and returns posing structural challenges.

“Indian consumers’ preferences are evolving rapidly, but fashion shopping has largely stayed the same,” said Kriti Gupta, vice president at Peak XV Partners, pointing to ZILO’s potential to rework the customer experience. Chiratae Ventures’ Anoop Menon described the round as early validation of a vertical quick-commerce thesis, noting ZILO’s early traction in Mumbai despite competition from larger, established players.

InfoEdge Ventures partner Kitty Agarwal said the continued investment reflects conviction in convenience-led fashion discovery and the team’s ability to build a differentiated business with strong unit economics.

Over the next 12–14 months, ZILO plans to deepen its technology stack, expand into a few additional cities, and broaden its brand portfolio. Whether fast fashion can truly be delivered at quick-commerce speed, without compromising margins, remains an open question—but ZILO’s latest fundraise suggests investors are willing to back that experiment.