Zepto, a grocery delivery startup based in Mumbai, India, has joined the coveted unicorn club after securing $200M in its Series E funding round, valuing the company at $1.4 Billion.
The round was led by StepStone Group, a global private markets investment firm, and joined by Goodwater Capital, a consumer-focused venture capital firm, as well as existing investors Glade Brook Capital, Lachy Groom, and Nexus Venture Partners.
Zepto plans to use the new capital to grow its operations and reach more customers across India. The company offers fast and convenient delivery of over 5000 products, ranging from fresh produce and staples to dairy and hygiene items. Customers can also order coffee, tea, and other cafe items along with their groceries.
Zepto was founded in 2021 by Aadit Palicha and Kaivalya Vohra, two entrepreneurs who saw an opportunity to disrupt the traditional grocery retail market in India with technology and efficiency. The company leverages its network of optimized delivery centers and its 1000+ employees to deliver orders within 10 minutes across its 10 locations.
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