PE Fund Investments
Instant grocery delivery startup Zepto raises $100-M from YC, Glade Brook Capital, others
Mumbai-based Zepto, an instant grocery delivery startup, has raised USD 100 million in a funding round led by YC Continuity, taking its valuation to USD 570 million within five months of launch. Also participating in the Series C round were new and existing backers like Glade Brook Capital Partners, Nexus Venture Partners, Breyer Capital and Silicon Valley investor Lachy Groom. Zepto, founded by teenagers Aadit Palicha and Kaivalya Vohra, has raised this round 45 days after a previous capital raise of USD 60 million at USD 225 million valuation. With this, it has raised a total of USD 160 million till date, largely from Silicon Valley-based investors. The startup, which promises to deliver grocery and daily essentials in 10 minutes, started in Mumbai earlier this year and has since expanded to Bengaluru, Delhi and four other cities. It plans to use the new funds to expand coverage across multiple cities in India and scale its team across functions.
From the Venture Intelligence PE-VC Deal Database: In Nov-21 Zepto raised $60-M from Glade Brook Capital, Nexus Venture Partners, and others.
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