Karnataka’s IT Minister, Priyank Kharge, has hailed Bengaluru as the premier destination for startups in India following the decision by grocery delivery startup Zepto to move its headquarters from Mumbai to the city. The Minister took to social media platform X to welcome Zepto and emphasize Bengaluru’s position as India’s tech capital.
Bengaluru: A Tech Capital
In his post, Kharge highlighted Bengaluru’s thriving startup ecosystem, noting that since 2010, the city has raised an impressive $70.1 billion, with $15.1 billion raised in 2023 alone. Bengaluru leads in both B2B funding, totaling $34.9 billion, and B2C funding at $4.9 billion. The city is also home to 45 unicorns valued at $160.8 billion.
Kharge further emphasized Bengaluru’s attractiveness for startups by pointing out that the city ranks 18th in the Asia Pacific for being millennial-friendly, particularly in education and employment. “Our city is where innovation thrives, with over 3,600 funded tech startups and the highest number of employable female talent in India,” Kharge wrote.
Zepto Strategic Move to Bengaluru
Zepto, the 10-minute grocery delivery startup, has decided to shift its headquarters from Powai, Mumbai, to Sarjapur, Bengaluru. While the startup already operates an office in Bengaluru, the move will consolidate its operations under one roof, bringing together its 1,700 to 1,800 employees.
This relocation is expected to cost Zepto around Rs 4 crore as a one-time expense for employee relocation. However, the startup will also benefit from an estimated savings of Rs 40-50 lakh in monthly rent.
Call for More Startups
Kharge concluded his message with an open invitation for more startups to join Bengaluru, reinforcing the city’s reputation as the best startup ecosystem in India. The Minister’s statements underscore the growing trend of companies moving to Bengaluru to capitalize on its strong infrastructure, talent pool, and vibrant startup community.
Zepto’s relocation is another testament to Bengaluru’s status as a leading global hub for innovation and entrepreneurship.
