PE Fund Investments
Quick commerce player Zepto raises $200-M led by Y Combinator at $900-M valuation
Mumbai-based quick commerce startup Zepto has raised USD 200 million in a funding round led by YCombinator that values the firm at around USD 900 million. The round was backed by new investor Kaiser Permanente and existing investors Nexus Venture Partners, Glade Brook Capital, and Lachy Groom. Zepto has raised USD 360 million till date. Zepto plans to use the funds to continue growing sustainably across India. The company has built a team of over 1,000 people and plans to continue hiring across all functions, including engineering, analytics, operations, marketing, finance, and HR. Zepto claims to deliver 3,000 grocery products in about 10 minutes. The venture operates on a hub-and-spoke model through a network of dark stores or retail distribution centres that cater exclusively to online shopping.
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