Private Equity Fund Investments
10-minute grocery delivery app Zepto raises $60-M from Glade Brook, Nexus VP, others
Mumbai-based quick grocery delivery app Zepto has raised USD 60 million in a funding round led by US-based Glade Brook Capital, at a post-money valuation of USD 225 million. Nexus Venture Partners and Silicon Valley's Y Combinator also participated in the funding round along with angel investors including former chief business officer of WhatsApp, Neeraj Arora. The platform promises to deliver groceries in 10 minutes. The company, which is present in Bengaluru, Delhi-NCR besides Mumbai, will launch in Hyderabad, Chennai, Pune and Kolkata in the next 30 days. It plans to expand to 100 fulfilment centres, servicing around 100 pin codes, by the end of this year. The startup will also use the new funds to hire more employees
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