Ansh Nanda, filed a FIR in August 2021, alleging threats from Zepto's founders & accusing Nexus Venture Partners of squeezing him out of Zepto after making false promises of equity.
The matter was settled out of court following appeals filed by Zepto's management, but this does not diminish the gravity of some of the allegations levelled against the startup and its investors. According to Zepto cofounder Aadit Palicha, the matter was settled because Ansh Nanda's legal team was concerned about losing the case due to a lack of evidence.
Two teenaged founders - 19-year-olds Aadit Palicha and Kaivalya Vohra - face off against another student-entrepreneur, 20-year-old Ansh Nanda. While Palicha and Vohra are the founders of Zepto, Nanda claims he was promised enough equity to be considered a cofounder when the company was still known as KiranaKart.
And there are a slew of allegations between them, including alleged underworld threats, equity promises, and more, involving not only the trio, but also storied Indian investors such as Nexus Venture Partners and personalities such as Nexus' managing director Suvir Sujan, as well as Y Combinator, one of the world's largest early-stage startup investors. All for a stake in one of India's hottest startups, which is on the verge of becoming a unicorn after raising more than $160 million in a matter of months last year.